There are several factors to take into consideration when you plan on investing in property. If you decide to take on a loan to fund your investment, the following questions will come up:
- Do I have enough saved for a down payment?
- Can I afford the monthly fees involved in taking on a loan?
- Will an investment property help me achieve my long-term financial goals?
An investment property is typically a long-term investment. You may be purchasing it to produce a stream of relatively stable monthly income from the rents. However, you also want to accrue equity in the property by using the rents to pay down the mortgage balance over time. Some investors may need the property to have a certain amount of equity within ten or 15 years, for example.
[Tweet “What issues will effect the property market in 2017?”]
Are you feeling overwhelmed? Axon Property Group has created a Webinar for the beginner investor. Learn the skills required to successfully invest in property investment and grow your portfolio for a successful financial future. Sign up for the webinar now: https://axonproperty.com.au/webinar/