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Are you looking to purchase your first investment property? Here are leading real estate professionals Century 21 Gold Manurewa top 5 tips to enjoy a successful and low stress first rental property investment.
The first thing to do when preparing to purchase an investment property is to set a clear goal of what you want to achieve with the investment property. Many people have an investment property to supplement a current income and for some it’s a retirement plan, no matter the goal the friendly experts at Century 21 Gold are ready to help. “We will work with you to set a strategic goal and lay out the path to success,” says Century 21 Gold Manurewa principal Derryn Mayne.
Check your finances to get an accurate picture of what you can afford and how much you have available to invest. This helps in giving you a general idea of your price range, so you can narrow your property search within your purchase budget.
Make sure you do your own research around property investing. Keep up to date to latest news in the industry, read investment books, attend a seminar or talk to the property experts at Century 21 Gold. “Our wealth of knowledge around property investing and the real estate market, can help you gain confidence to make the right decisions,” says Derryn.
If you want this to be a rental property, take a good look in the area you want to buy, as you will also need to make sure that the ideal property is suitable for the type of tenants in the area. For example, if you want to rent to families, make sure the property is in a good school zone. “The quality of the neighbourhood will attract good tenants,” advises Derryn.
Though it may be tempting, don’t buy a fixer-upper. Unless you’re capable at home improvement, you will likely end up paying too much to renovate the home. Instead, look to buy a home that is priced below the market that needs only slight repairs.
About Century 21 Gold:
Century 21 Gold Real Estate Manurewa offers its clients a full range of residential and rural services as well as Property Management. So for whatever your real-estate needs, contact the team at Century 21 Gold.
Contact Century 21 Gold Real Estate Manurewa:
Address: 25 Station Road Manurewa Auckland 2102
Postal Address: PO Box 75459 Manurewa Auckland 2243
Phone: 09 267 8980
Fax: 09 267 8982
Phone: 0274 587 724