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What You Need to Know When Buying an Investment Property

10/28/2022

Buying an investment property can be daunting whether you’re a first-time homebuyer or a seasoned investor. There’s much to think about between understanding the mortgage process and crunching your potential return on investment numbers. 

Take a look at these questions:

  • Should I buy an investment property in 2022?
  • What type of loan is best for property investing?
  • How to prepare for investment property home loans?

In this blog post, we’ll explore what property investing is and explain why it’s a sound choice for your money. We’ll also look at the different types of property investments available, so you can decide which option is suitable for you.

What Is Investment Property?

You could reach a certain point in life when you are no longer satisfied by just merely getting by. You want another steady income-generating business or investment and backups in case of an unplanned scenario. But before you invest in property, it’s essential to understand what it is and how it works. 

Property investing is one of the most brilliant things you can do with your money. By buying property, you’re investing in something that will always have value—unlike stocks or shares, which can go up or down in price. 

An investment property is a piece of real estate that an investor purchases, intending to earn a return on their investment, either through rental income, the future resale of the property, or both. 

Investment properties are typically residential, such as single-family homes, duplexes, triplexes and apartment buildings. They can also be commercial properties like office buildings, warehouses or retail spaces. Whilst the specifics of each property vary, all investment properties share one key trait: they generate income for their owners.

Property investing can be an excellent way to grow your wealth over time. However, it also comes with some risks and responsibilities. Before purchasing an investment property, research and consult experts like InvestorFi to ensure it is the right decision.

Things to Consider When Buying an Investment Property

Buying an investment property is a significant financial decision. There are some factors to consider before taking the plunge, and you must be sure you’re ready for the commitment. 

Here are a few things to prepare for it:

Can you afford the down payment and monthly mortgage payments?

Property investing in Australia typically requires a larger down payment than a primary residence, so be sure you have the financial resources. Also, remember that you’ll be responsible for all repairs and maintenance on the property, so factor those costs into your budget.

Do you have experience with rental properties?

If this is your first foray into investment real estate, it’s important to do your homework and learn as much as possible about the rental process. There’s a lot to consider, from screening tenants to managing repairs, so it’s important to be prepared. Consider consulting with a property management company to understand what to expect.

Are you prepared for the risks?

Like any investment property home loans, there are risks involved with investing in real estate. The marketplace can fluctuate, and there’s always the possibility that your tenants will damage the property or fail to pay rent on time. As such, it’s crucial to have a solid plan to deal with these potential scenarios.

By answering these questions, you can better understand whether property investing is right for you. If you would also carefully plan and do due diligence, an investment property home loan can be a great way to build long-term wealth.

Five Signs that You’re Ready to Get into Property Investing

Many signs can indicate that you’re ready to purchase a property investment. The following are five of the most important:

You’ve saved enough for a down payment.

One of the biggest financial hurdles to buying an investment property is coming up with a down payment. If you’ve been steadily saving and have enough for a 20% down payment, you’re in good shape to start looking for an investment property.

You have a solid income.

Another important factor in determining whether you’re ready for property investing is your income. You need to be sure that you have a steady stream of income that will cover not only the mortgage payments on the property but also any necessary repairs and improvements.

Your credit score is good.

Your credit score is another crucial indicator of whether you’re ready to purchase an investment property. Lenders will typically require a good credit score, which is a key indicator of whether you are to buy an investment property.

You have a clear idea of your goals.

Are you looking to generate income through rental payments? Are you hoping to flip the property for a profit? Understanding your goals will help you find the right investment property and make sound financial decisions.

You’re prepared for the risks involved.

Investing in real estate comes with its share of risks, so you must be prepared for them before taking the plunge. Be aware of the potential risks involved, and be sure you have the financial resources to weather any bumps in the road.

Start Your Property Investment Journey with Investorfi

One of the most important aspects of property investing is doing your due diligence to ensure you make a wise and informed decision. This is where Investorfi comes in. 

Here at InvestorFi, we can help you and we want to. We’re a web-based platform that connects property investors with the right financing options to suit their needs. We work with a wide range of lenders, so whether you’re looking for investment property home loans or refinancing, etc., we’ve got you.

Investorfi is a mortgage broking firm that provides personalised home loan solutions to Australian residents. Finding the right financing can be complex and time-consuming, so our experienced team will take care of everything for you. Our trusted mortgage brokers will work with you to find the best home loan solution for your needs, and we’ll be with you every step of the way to ensure a smooth transaction. 

Let Investorfi help you achieve your ‘great Aussie dream’ today. Contact us to learn more about how we can assist you.

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This is what we do.

We are finance strategists in the Mortgage Broking industry, helping Australians build wealth through property investment.

Our sole purpose is to reinvent ways to keep the Great Australian Dream Alive. Because we believe it’s everyone’s right to the security home ownership affords our families and community. Yes, our niche is Finance Strategy for Property Investors, but it is not what we do that makes us tick;
it’s

Because property investment is a decisive step toward financial freedom, we cultivate lasting relationships with our clients. We ain’t just a ‘whame bam, see ya later man’ kinda outfit. In fact, our business is built entirely from our lasting relationships with our clients who have suggested us to their inner circle – their family and friends. That is a pretty big tick of approval and a sure vote of confidence.

This is How we do

What separates us from the rest?

Have you ever considered the difference between Mortgage Brokers?

A Broker worth their salt has a playbook of ‘scenarios’. They are finance strategies that have worked in the past. He will offer up one, two or even three scenarios that he thinks will work best for you. 

But the great ones challenge the status quo, strategising new plays that serve your unique situation and financial goals. They will study, visualise, and fine-tune before offering only the best scenarios that build a rewarding property Portfolio.  

They never let good be the robber of the best and only play to win!

InvestorFi is a group of finance strategists that will design a unique scenario for your state of play towards your long-term game plan.

But don’t just take my word for it.

Clients like Tony F. said: I couldn’t be happier with the service. Wayne was excellent in guiding me through and delivering a great investment loan. Very responsive and savvy investment brokers. Will continue to use their services in the next purchase. 

And like Kim, Wayne is extremely dedicated, professional and a pleasure to work with. He worked tirelessly to help me secure an alternate lender before the settlement date and was extremely prompt and clear in his communications with me. 

And 

Robert wrote: Wayne is always very responsive and takes the time to lay out all the options in plain English.

Reviews like this make our souls sing. We’re in the business of helping people achieve real results that last!

So if you’re looking for a great Finance strategist like these incredible clients, you’re in the right place.

This is why we do

Gone are the days a single income could afford 2.5 kids, a pet, and a four-bedroom house in the burbs! 

At InvestorFi, our sole purpose is to reinvent the great ‘Australian Dream’. Because we believe it’s every citizen’s right to the security home ownership affords our families and community, not just for today but for generations to come.

But because it’s become so difficult, it requires complex solutions. One way is to seek finance strategy before purchasing a home. This way, you can leverage your full potential to live where you want to and invest where you can afford to. 

Property ownership has become a game of ‘finance strategy’, placing a premium on finance know-how. That is why we value education; our mantra is knowledge equals freedom, but knowledge shared is freedom multiplied.  

There is no drought; we have hit a new era with its epic challenges. Not everyone is up for the grind it takes to keep the dream alive. That’s why we also place a premium on camaraderie. We don’t see ourselves as a ‘hit and run’ service but as a hub and a way of life.