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Breaking into Property Investing in Brisbane
Do you want to get into real estate investing, but think you don’t have the cash to do more than purchase your own family home? Today the bar to becoming a real estate investor is lower than ever, thanks to real estate investment companies like Ironfish that help beginning investors minimise their risks and maximise their profits. How do you buy your first investment property in Brisbane and beyond? We’ve put together some helpful hints to get you started.
Where to Look
The best way to buy an investment property in Brisbane is to find residential units near the heart of the city where there will always be plenty of demand. Look for places near the financial district, downtown areas, waterfront and more. You may pay more upfront, but you can charge higher rents and will have an easier time finding tenants quickly when you put the apartment or the house on the market.
The second secret to buying investment property is not to buy just one, but to build up a portfolio of rental units across several cities. Then if one unit is standing empty for a month, or if one city is hit with a slow down in the market, your other properties will tide you over.
You’ll also want to be sure that you’re buying at a good time in the market. Real estate values tend to move in seven to ten year cycles. Ironfish’s expert analysts can help you find the market data and interpret it to make sure you’re getting a great deal and can expect to see a good return on your investment.
What to Buy
The last thing you should be purchasing as an investment property is a fixer upper. Homes or apartments that require a lot of renovation can quickly turn into money pits that suck down huge amounts of cash in return for an uncertain, one time pay out when you resell. Instead, your Brisbane investment property buy should be a turnkey unit – one ready for a resident immediately. In fact, we recommend that you purchase in a new building so you can be certain that you won’t be inheriting anyone else’s problems or any hidden damage.
As you build your portfolio, you also want to consider the purpose of the property and your financial goals. You’ll want your investment properties to be a mix of appreciation real estate that will build up value over time and rental properties that will bring in a healthy revenue stream up front so you can pay down your loans faster. Once your loans are paid off and you own the properties outright, you can sell the property outright for a lump of cash, or continue to keep it a rental property and go on collecting rents for decades.
Ironfish always takes the time to do the research so we can be confident that we’re bringing you the best possible deals on the marketplace. For more information and for leads on investment properties in Brisbane and beyond, call us today!