The first step could be to seek professional advice from a trusted source e.g. Accountant, Financial Planner or Broker.
Once you decide to proceed you will need to have a guide as to how much you can afford to spend. Then you can start scrolling through Domain/RealEstate.com for a prospective investment.
When you find a suitable property, the agent can provide you with a rental appraisal. Don’t forget the value of obtaining a Depreciation report. You might be surprised by the amount of Tax deductions you can claim.
You might also consider building a relationship with an Agent or even a Buyer’s Agent if you are “time poor”. Being on a database might give you an advantage over the buyers.
Once you have secured a property it’s time to find an experienced Property Manager. The selling Agent will want you to use their property manager, that’s understandable. You should, however, seek other advice/opinions.
Talking to your friends who have an Investment Property and reading google reviews is a good place to start. Be aware that the “Local” agent might not necessarily be your best option. Also be cautious of Agents offering discounted fees.
Please reach out to Steve Arnold, Principal of Arnold property or one of his experienced Agents.
Steve has over 37 years experience in Residential Property Management & Sales.
Steve Arnold | (02) 4969 2600 | mail@arnoldproperty.com.au
A Family name you can trust.
