Are you game plan ready?

05 JUL 2023 Promoted by Inview Property Group 2 min read Investor Strategy

When buying an investment property, it is important to have a strategy in place that encompasses your end goal.

Inview Property Group Lynda McNeill Buyer Advocate gdsfre

There are many different aspects to developing a property strategy and this will look different for each individual investor. Some fundamental questions to ask yourself to help in determining a strategy that is best for you.

Why?...Often we find the answer to this question is because all my friends are doing it, to have a property for the children to use whilst studying, my parents have advised me to, however the real question is why do you want to invest in property? Or more simply, what is your end goal. It’s important to set goals and break them down into short, medium and long term to ensure the optimal outcome is achievable.

When?...Understanding your timeline is an important factor when investing in property. Is now the right time for you to invest? Do you have the income and cashflow needed to support a portfolio? Have you obtained the correct advice? Often investors buy a property before determining how they are going to sustain it or have the overall picture.

What and Where?...Knowing the type of asset class and locations that fit your strategy and what is achievable within your budget, without compromising your long term goal. You need to have a clear understanding of this, it can be different for each individual investor.

Fundamentals to consider when investing.

Owner occupier appeal
Close to amenities and transport
Area gentrification
Point of scarcity
Proven historical long term growth
Low vacancy rates
A-grade floor plan
Attractive to multiple demographics

Who?...do I need in my team to ensure my end goal is achieved with confidence? Industry experts such as a mortgage broker or bank, solicitor or conveyancer, financial planner, accountant, building and pest inspector, buyers advocate and property manager. A professional team with strong industry knowledge, who you can trust to make your journey successful.

Key points for getting game plan ready