Buy to Rent
Simple steps to making a profit on your property investment
Buying a home for the purposes of renting it out is a great way to build your wealth. While your property value is constantly increasing youâ€™re collecting rent to help pay off your bond / homeloan.
But when looking for a BUY-to-LET property is can sometimes be difficult to find the best deal.
Here are some tips to help you get the best value and return of your property investment:
Location is always key whether youâ€™re looking to by a new home as you primary residence or for investment purposes. Houses closer to shopping centers, schools and transport are always more favorable.
Before buying, make sure youâ€™ve considered every last expense to ensure that youâ€™ll have a positive cash flow.
- High House Prices:
Begin your search in areas where house prices are high since people who cannot afford a homeloan or who are only staying a short while are more inclined to rent in these â€˜poshâ€™ areas.
- Low Maintenance:
Stay clear of old house that could become a nightmare to maintain. The costs of fix problems can easily turn a positive cashflow in a negative.
- Owner out of country:
Since itâ€™s tougher to manage a property when theyâ€™re out of the country, sellers are often happy to find a quick sale than to hold out for a better price. You can often get a good deal in this situation.