Everyone’s goals and financial circumstances are different. That means you must tailor any property investment advice to fit yours. First of all, investing is a business decision and in all business decisions, you work with what resources you have available to you and in this case, it is the size of your deposit.
As off plan purchases require a 10% deposit, how much cash you have saved up or equity in another property or even lines of credit, will determine the maximum price bracket that you can enter the market at. Everyone wants a penthouse with harbor or city views to boast as an investment, or a 4 bedroom house within 10km of the CBD, also with views, but the reality is that those options are not on the table for the vast majority of investors who have deposits of around $40,000 - $60,000 for investment purposes, not to mention their borrowing capacity from lenders.
So you make the best of your budget and find a property that works for you at a price that you can afford. iBuyNew are experts in consulting with you to find out what your property goals are, what your risk profile is and the best path toward achieving the portfolio that will get your closer to your ultimate property investment goal. For some people, they may want only a handful of properties that they are 100% certain will give them a good rental return and pay themselves off within 30 years. For others, they may want a faster growth strategy that makes full use of leverage to build a portfolio of 10 or more properties over 30 years. And for some, they invest using their gut feelings, not the numbers and are satisfied that they will make the statistical average returns over those 30 years and won’t bat an eyelid at the ups and downs.
One size never fits all when it comes to property investing, that is why it pays to seek the advice or experienced professionals who have a invested interest in you succeeding and coming back to expand your portfolio. With friends.