Purchasing an investment property is  one of the largest transactions you can make in a life time. Generally, people purchase investment properties in an effort to create wealth. This may be a long term goal with a capital growth objective and  positive cash flow, a short term goal to renovate and re-sell. No matter what goal you have in mind, it is important to carry out the relevant research and create a strategy for success.

Having a simple check list can help you find the right investment property for you, your budget and your goal in mind.

Some basic questions to ask yourself include why am I choosing to invest in property? Do I want to purchase a house or unit? Will this be tax effective for me? How much can I borrow and what will the repayments be? What’s the likely rental return? What are the vacancy rates for the area? How much are the management/strata fees?

Investing in residential property can be a fantastic rewarding experience if you follow some basic guide lines. A full Investment check list can be found at fitzpatricks.com.au or you can contact our Property Investment Consultant, Gary Brown to discuss this further.