Property has been a popular route to wealth for many Australians for many years. Buying their own home is often the first investment many people make; purchasing another property may well be the second even before shares and other assets.
Your first investment in property doesn’t necessarily need to be your principal place of residence. Purchasing a rental apartment or unit is a good method of accumulating funds with a view to eventually buying your own home. Property also has the potential to generate capital growth - an increase in the value of your asset, as well as rental income. There may also be tax advantages associated with negative gearing on investment properties – so how do you do it?
Step 1: Speak to MRM Mortgage Brokers
When considering an investment property, whether it’s your first purchase or your fifty first, your first port of call should be MRM Mortgage Brokers. MRM Mortgage Brokers can talk you through how to achieve your investment property goals. We will review your assets and liabilities to determine how much you can borrow; we can guide you to your target price range, assist you to narrow your property search and help find the property to fit your budget.
Step 2: Preparation
Just like buying your first home, when purchasing an investment property, it’s essential to plan. If you’re unsure of the best way to plan for an investment property, speak to MRM Mortgage Brokers today and we can help you to get on the right path. We will help you understand your financial position, what’s achievable and what’s in your budget. We can help give you the confidence to shop for that next exciting property purchase.
Step 3: Having the right knowledge & contacts
At MRM Mortgage Brokers we have experience with investment property portfolios of all sizes as well as the knowledge and contacts to assist any investor. We will discuss your plans and your circumstances with you to determine what you can afford. We’ll keep in contact with you in order to help you with the financial procedures involved in purchasing and refinancing your investment properties. If you want additional assistance or you’re to busy to look yourself; Let MRM Mortgage Brokers guide you to property investment professionals who can do it for you.
Give MRM Mortgage Brokers a call today, we can help initiate the lending process and work out for you what loan products will be appropriate in your circumstances.