1. Look for an eager vendor
A vendor under distress is the most obvious component of a cheap purchase. There is no moral high ground here– often it’s a case that the seller needs a quick disposal and is willing to cut back on the price in order to move the bricks and mortar on.
Self managed super funds (SMSFs) are all the rage at the moment, people are increasingly keen to get more control of their super to avoid super fund costs and poor investments. One of the biggest advantages of SMSFs is that you can use your super to invest in property.
If you’re in a rush to secure a property and it’s a tight squeeze to raise the necessary deposit in time, you could get it done by purchasing a deposit bond.
Melbourne’s explosion of inner-city apartments has led to an over-supply that may lead to Melbourne’s property prices growing at a slower rate than other capital cities over the next few years.
Sometimes it can be ideal for investors to move out of their home but keep the old place as an investment. You might be needing to move into a bigger or smaller residence, or may have to move for work reasons.
What is it that buyers are after when buying property? The features they might be looking for can depend on how much they are paying for the property, the size and location of the property and who it is that is buying the property, that is, whether the purchaser is an owner-occupier, investor or developer.
Choosing which property to invest in is a massive decision, but once you’ve made it one the most important investments you can then make is finding good tenants to live in it.
If Lara Bingle was to reinvent her spot as ambassador for the Australian Tourist Commission, she might well do it for the first home buyers in Victoria and once again pose the question: “Where the bloody hell are you?”
Saving for a deposit for a home loan can be hard to do quickly, and is even hard for some people to get started at all.
If you’re lucky enough to buy an investment property with tenants already living in it, you’ll benefit from immediate rental income from the date the property settles, also saving you the hassle and costs of finding appropriate tenants and a property manager.
