So you’re thinking of buying an investment property?
Here’s a great place to start:
Prior to looking at buying an investment here are Kirsty’s top two recommendations.
1. Aim to be showing that you can pay off any credit cards / discretionary debt in full each month.
2. Aim to be making extra repayments into your owner occupied home loan (or into offset account). Typically speaking any investment property will cost you at least $100-200 per week minimum (as a rough average) out of pocket after all costs are covered expense wise so putting at least extra consistently that into your home loan (preferably more) is a great way to show the bank (and yourselves) you’re ready for more properties.
Below are all my best articles resources to start the learning about investing in property. Ask any questions as you have them!
Investment podcasts:
(search your podcast app for these or go online as these would be great to listen to)
http://thepropertycouch.com.au
https://www.smartpropertyinvestment.com.au
Plus if you like to read – anything by Jan Somers is awesome too.
Articles for purchasing a second property:
How much cash or equity do I need for my next purchase?
Buying a property to rent out as an investment property
How to buy your second property without any money of your own to put towards it
Who should get a Depreciation Schedule for their Investment Property?