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Signs You’re Ready To Invest

Buying a second property can be a great investment, but it’s important to make sure you are ready. Here are the seven signs that show you are ready to invest in property – and some tips to get you there.

You have done the research

As a property investor, there is plenty of background work to do. Read up on investment guides, tips from other property investors, the property market and where it is heading, what is expected of you as a landlord, and any costs you will have to cover after you have purchased the property.

You are financially ready

If you are struggling to pay your current mortgage and bills, it may not be the best time to invest in another property. Think about whether you can afford to take on another property and the associated financial responsibilities, and whether an investment property would be more of a burden than an asset.

You have created a budget

Budgets are boring but essential. Create a budget to assess whether you can take on another property. The budget may also help you to arrange your finances in a way that works better for you.

You have loan pre-approval

There’s no point looking into property investment if you can’t get the financial backing to buy. Check out your eligibility for a home loan by getting loan pre-approval. This will give you the confidence to buy, and it should help you stay within your budget. A mortgage broker could help make this process – and the property investment process – much easier.

You’ve found an area to invest in

Finding the right area to invest in is essential. Research up-and-coming areas to get a good deal, and think about what kind of tenant you are looking for. If you want to rent to uni students, choose a suburb close to a uni that can offer affordable rent. If you are looking at the holiday rental market, choose an area that would interest holidaymakers. And so on.

You’ve found a property

Finding the right property is key to making your investment a success. Do your research and a find good real estate agent to help you with this choice, and be sure to carry out all necessary building and pest inspections. Make sure the property will suit the tenants you are aiming to target.

You have created goals

As an investor, you should have investment goals. Determine what goals you have as an investor and work out how you are going to achieve them. This could include retiring early, increasing your income, or living off your property investments.

Time to invest!

If you have covered all the above points, then it could be time to become a property investor. Be sure to look for the right investor loan, and consider speaking to a mortgage broker, as they could help guide you through the process of investing, offering valuable advice when needed.

Lend Me – Car & Home Loan Brokers – Perth, Western Australia

How we've helped our clients...

"Starting up a new business isn’t easy, with so many things to think about it can be quite a stressful process. With the services of Lend Me Asset Finance and Locate Me, they have really helped to take this stress away in the way of meeting me on my job sites to sign documents and dealing directly with the Car Dealers, Bobcat Dealers and even my accountant.

The guys at Lend Me really do take the time to listen to what you are after and work in to suit you and make the transaction so simple and convenient, I can’t thank them enough! I’ve also recommended their services to 3 friends already and have only had good feedback. Lend Me have certainly gained a client for life! Reece"

"Hi there, Saturday just gone, I picked up my dream car, a 2013 black lancer LX.

I'd like to take this chance to say Lend Me Car Loan customer service was by the far the best I have ever received. What I thought was going to be tough work turned out to be the opposite. The process easy, simple and quick for me, she did the hard yards... I will be recommending friends and family... Thanks again! Regards, Stephanie"

I just wanted to say thank you... This has been the smoothest process. You and the other girls I dealt with at Lend Me Home Loans were so friendly and so efficient with everything, I felt like I was the only customer you were dealing with.

I will definitely be raving on to loads of people about Lend Me and the great service you provide.

I am stoked, this will take so much pressure off and will seriously change our lives... we can actually get ahead on payments and start saving some more money.

Thanks again, Kath :)

"Emily & I just want to take this opportunity to say a very big thank you for seeing us through our first home purchase and home loan, you have been a massive help not to mention getting us out of a sticky situation. We will definitely be in touch in the near future and will refer/recommend you to our family & friends if looking out for a friendly, helpful and reliable mortgage broker.

Take care and speak soon. Matt & Emily" 

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