Hi everyone, it’s Glen from 21st Century Group, investments, construction and property management. Something which I wanted to talk to you today, is about some steps to avoid buying the wrong investment property. Okay. Just a few steps. Okay. What I want you to keep in mind is that you are just not buying an investment. Okay. So don’t think of it as, “Hey listen I’ll buy any old property”. Right? And I’ll just rent it out over time. It will have capital growth and that’s it. No, it doesn’t work like that. When you buy an investment property think to a certain degree, would I kind of live in it? I don’t want you to think all the time like that. Don’t make it extremely personal, but to a certain degree. Right. So here we go. If you can get a property which has got nine-foot ceilings. Right. It has got ducted air conditioning, solar power, you know a great home and you look at it and say hey listen this is a great home. If you’re going to live in it, keep in mind someone else would also like to live in it. You could also get a
higher rent and the day you go to sell it, your capital growth would also appreciate a little bit more. All right. The aspect is extremely important or a house is a house. Right. But if you can get something which has got a great aspect, you’re overlooking a park or great views, fantastic! I know it’s going to cost you a little bit more to borrow, but if you could, please do it. Also keep in mind that, you need to know your borrowing capacity. Now what the banks tell you as a pre-approval, just throw it out of the door, because they’re just doing their figures.
But it’s a guide, but you don’t have to go right up to that guide. Okay. Talk to someone who knows. Let’s say as an example, okay, let me say this, let’s say the bank says, we can lend you $700,000. Okay you don’t have to go up to that amount, you can get a great investment
let’s say for $500,000. Okay. Also, always do your research. Research the area that you want to invest into. All right. You are not just getting the investment, you are getting into the neighbourhood and the infrastructure.
Know the past, know the present and also know what’s going to happen in the future. All right. This is not a quick buy and sell thing. Well, I’m not into that anyway. Right. It’s something which you buy and you hold.All right. Preferably buy brand new for maximum tax deductions, get a great quantity surveyed report. All right. And your accountant will know what to do after that. So lastly, but not least, you need to trust and research the person who is guiding you into the investment. Okay. Research and you’ve got to trust their judgement, if they’ve been in the industry for years and they know what they’re talking about and they’ve got your best interest at heart, you’ve got to trust them. All right because at the end of the day they would like you to come and purchase their second, third, fourth, fifth investment through them. All right. Keep in touch. It’s Glen from 21st Century Group, constructions, investments, property management. Talk to you later. Bye for now.
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