The Property Investment Essentials - Shire First Mortgages

The Property Investment Essentials What you need to know when buying and financing your investment property Shire First Mortgages 1/96 Gymea Bay Road Gymea NSW 2227 T: 95317503 E: loans@shirefirstmortgages.com.au www.shirefirstmortgages.com.au CONTENTS WELCOME Thank you for taking the time to read about When investing, it is important to assess your the process of buying your investment current financial position. What are your cash WELCOME page 3 COSTS property and obtaining finance. This guide is reserves and what equity do you have in your Stamp duty designed to help you through the process to present home? OVERVIEW page 4 Loan application fee ensure nothing is missed and that many of your questions are answered. Look at your long term objectives. For

PURCHASING YOUR Legal example, will the property be part of your INVESTMENT PROPERTY Inspections Property has been considered a popular path retirement financial plan? Potential changes Why investing in property Insurances to wealth for Australians for many years. to your current situation should also be may be the answer Buying their own home is often the first factored in, such as the birth of a child, the Land tax Do your homework significant investment most people make. loss of one income or supporting parents in APPLYING FOR A LOAN Purchasing another property may well be the their later years. It is wise to seek advice from Taxation - positive vs LOAN APPROVAL second - even before shares and other assets. an investment adviser or qualified financial negative gearing However your first investment in property need planner to help determine your financial goals PROPERTY MANAGEMENT not be your home. and strategies. GETTING STARTED page 8 FACTORS TO CONSIDER WHEN PURCHASING BUYING YOUR INVESTMENT PROPERTY page 18 Buying a rental property can be a good way to When you decide to invest in property it is gain some capital growth that can be used later equally as important to seek the services RESIDENTIAL INVESTMENT PROPERTY A STEP BY STEP GUIDE to help buy your own home. of a qualified mortgage planner to help you FINANCE STEP 1 - Have your loan pre-approval in place structure your property finance correctly. Sensible investments in property have many We encourage you to call the office for more Using equity to buy your investment property STEP 2 - Choose the right property in the right attractions. Property can be less volatile than information or clarification about your own Buying an investment property through a location shares and it tends to be regarded as a safe circumstances and your future property superannuation fund STEP 3 - Make an offer haven when other assets are declining in value. investment potential. CHOOSING THE RIGHT LOAN STEP 4 - Conveyancer/legal representative Property has the potential to generate capital Interest only loans STEP 5 - Final loan approval growth (an increase in the value of your asset) We look forward to helping you prepare a as well as rental income. There are also tax long term mortgage plan which will help you Fixed rate loans STEP 6 - Insurance advantages associated with negative gearing. purchase your first and hopefully, many future...

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