What is there to know about becoming an investor in property
Being a property investor requires a certain level of precision and sticking to your plan. We get to speak with regular property investors all the time and the difference is often in the way they approach a property in a more scientific manner, filtering noise and sales tactics from property agents while aligning with their head over heart.
Create an Investment Mandate
An investment mandate essentially is an overview of all the criteria’s necessary to say ‘yes’ to an investment. Include aspects like locations within XXkms of a train station or in suburbs you feel are undervalued. Having this mandate will help you use your head over heart.
Create an Investment Property Financial Model
Build an excel spreadsheet with all the expected up front and on-going costs so you can budget accordingly. The model should also include which price bracket you can stick to, yet still maintain a solid profit margin.
Create a property investment team
Start working with the best, and your level of knowledge and understanding will dramatically increase. In order to execute regular property deals, find the following:
- Find a suitable Financing Broker (Hello Gallantree!)
- Find a suitable Solicitor — preparing contracts and paperwork
- Find a suitable Accountant — see what is claimable as a tax deduction and look towards your end of year tax return.
- Find a suitable Town Planner — often property investments require renovations or sub-divisions, therefore an experienced town planner can suggest before sale if your ideas or concepts on the property can be achieved without massive outlay of capital.
Gallantree Property-development-as-a-Service model
The Gallantree team works directly with a range of experienced property providers to maximise efficiencies, bundling the above points as an all-in-one solution and therefore costs and time savings when reviewing a property.
Talk to us today on how we can help you.
