Property Investment Advice – Get Your Ducks in a Row

Posted on Thursday, November 29 2012

Property Investment Advice 101- The Basics

Purchasing any kind of property is a complex process and before undertaking it, one should make a solid plan and seek out Property Investment advice only from seasoned Property investors who have made all the mistakes in the book before. Your Property Investment strategy should start even before the “looking phase” so that time is not wasted looking at properties which will not fit the plan. It’s vitally important to know the following before even looking at property to buy:
• What are your investment goals?
• What strategy do you have in place for achieving your goals?
• How much can you afford to pay?
• What are your buying criteria?
• How will you finance your purchase?
• What kind of assistance will you need with your purchase?

Investment Goals:
A detailed discussion of investment goals is outside of the scope of this article; however it is essential to set your goals before beginning the purchase process. If your goal is to bring in a high yield on a monthly basis, then you will want to be looking for something along the lines of residential multiple income property, property which you could set as Lease Option or commercial property. If your goal is to build capital through a long-term property hold you should target well-located properties with an opportunity to add value. If your goal is to enjoy both a high yield and capital growth, you may want to engage a professional or access our Deal Room™ where you can often find some great deals. Beyond that we have many fabulous articles from experts in all fields of Property Investment .From Property Investment advice to Mortgage advice to Property management advice which you will require after you take the plunge and buy your first Property Investment.

How Much Can You Afford to Pay?
This is a first step in the process because it’s a waste of time to look at any property if you don’t know your budget. However, there is more to it than knowing how much cash you have (unless you have a veritable ton of it). For most, it’s important to explore a wide range of possible lenders and the best way to do that is through a Mortgage Broker. It is very important to first engage with a good Mortgage Broker who would assist with getting you pre-approved with the right lender. This is a must if you want to have the first opportunity for picking up the great deals that are out there. Websites such as, www.PropertyGenie.co.nz operate on a First-In-First-Served basis so being pre-approved means that you will be ready if you find something that meets your criteria.

Sound Property Investment Advice Must Include A Mortgage Broker

You may think that you don’t need a Mortgage Broker, especially if you have a bank willing to offer you a good rate on a mortgage. Mortgage Brokers offer a free service to borrowers and they can save you time and money as they are expert in presenting your loan application to the lender in the best possible way in order to increase your pre-approval chances. It is a common mistake to think that using a Mortgage Broker will cost you more as they link you with the banks – this is not the case. In most cases, banks prefer to work with Mortgage Brokers as this saves them time and money with administrative work, and they can therefore afford to pay the Mortgage Brokers their commissions and still give you a competitive rate.

Getting good Property Investment advice will most definitely include your Mortgage Broker as they will have a wide range of possible mainstream lenders to choose from, a second tier, and some private funding options.
The second step is to get professional advice from a Property Account Expert to help with setting up the correct ownership structure and entities.

If you want to learn more about how to buy real estate which type of investment properties I prefer to buy and

There are several “absolutes” to buying Real Estate. They are called “The 3 L’s” and “The 3 R’s” and they go hand-in-hand when it comes to targeting the right property. If followed, these principles can result in a very profitable investment.

If you want to learn about my 2Absolutes more about residential and commercial property, you can purchase my eBook “New Zealand Real Estate A Great Place to Own”.

 

Property Investment Advice With propertygenie.co.nz

 

 

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Expert's Bio

Hadar Orkibi

Hadar is a full time Property Investor and Trader, Specialising in Do-ups & Add value, Multiple income properties, High Yielding, Commercial, Equity and "Move Forward" Properties. Hadar is co-owner and Sales & Marketing Mangers at www.PropertyGenie.co.nz. Owner of the Private House Buyers companies www.WeBuyProperty.co.nz & www.PropertyBuyersAuckland.co.nz/ Find Hadar on Google+

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