When it comes to real estate, there are a few things you need to keep in mind. First and foremost is your budget. Make sure you have an idea of how much money you’re willing to invest. And what kind of return on investment (ROI) you’re looking for depends upon your investment goals which also helps to map your investment plan.
Once you have a rough estimate, start researching which areas in Brisbane are experiencing the highest growth rates. You now have a list of potential properties, start narrowing down your search by reviewing recent sales data, property condition reports, neighbourhood reviews and aerial photos.
Once you’ve selected a few properties, it’s time to get started on the paperwork! You will need to gather information about the property, such as square footage and lot size. You will also need to gather copies of the title search, zoning permit and building permits.
Once you have all of the necessary documents as per your requirements. It’s time to get Estimates from contractors and purchase contracts from real estate agents. Once everything is signed off, it’s time to start putting money down! You will want to put down a minimum 20% deposit on each property. And make sure you are locked in the contract before making any additional payments.
Now that you have your investment plan set up, be sure to stay up-to-date with market trends by reading local newspapers and blogs, watching real estate shows on TV or subscribing to online newsletters. And don’t forget to stay positive – real estate is a long-term investment, and there are always chances for market corrections!
For more information on starting your property investment journey, feel free to contact our property managers, by clicking here.
