Investment Property Basics

Buying property will probably be the biggest financial investment you’ll ever make and because of this you need to surround yourself with people who can help you realise your goals. Make sure you choose your “Property Team” well from day one. This team needs to include a Solicitor firm with a good understanding of the legal issues around the purchase (or sale) of a property a Mortgage Broker to ensure you know how much you can borrow before you start looking – and that you have the best lending in place once you have found your dream house – and an Accountant who has a good understanding of property investment if you are buying a investment property.
Like anything, property is a cyclical process. There are times when values grow dramatically over a short space of time and times when these same values plateau or even drop a little. The key to successful property investment is to understand the fact that growth occurs over time. I’ve played tennis with a friend of mine for more than 10 years who has always talked about getting a well priced investment property “in 18 months when values come down a bit” – to this day he has never bought. Over the same period I’ve seen others build up a substantial, and profitable, portfolio.

Finance broker in Auckland

Jon Purdey