Buying your first investment property is a courageous and big decision. Now you're responsible for someone else's home, but also responsible for an additional set of payments you need to consider each month. The whole process can be daunting, with tax considerations, tenancy law considerations and most of all, dealing with tenants - The good and the bad. But, it's the first stage of growing an investment portfolio, so you should be proud of your achievements, knowing that you are building your wealth through passive income. To hear it from someone just like you, today we have a case study talking to a new investor, who has just bought his first investment property.
Rhys Jaconley is a new dad working as an organisational consultant and still makes time for his dungeons and dragons group. He recently got involved in the property market for the first time.
1. What values did you see in buying an investment property?
2. Do you find most people have a concern about middle class debt aversion?
3. Did you seek advice on working out a strategy to buy an investment property or did you just go 'I want to buy a property for investment, what can I find?'
4. Who were your main trusted authorities when it came to buying a property?
5. What were your defining needs with your investment when choosing a property?
6. How easy or hard was it to get finance in these changing times?
7. What were your main struggles in the process of buying an investment property?
8. What were your main struggles in the process of buying an investment property?
a. How did you overcome these struggles?
9. What advice did you get regarding settlement terms - Did you go for a shorter or longer settlement?
10. Are you all settled and do you have a tenant yet?
11. Now that you have an investment property, what's your next goal?
12. Is there any advice you could tell our listeners that you wish you had before you started looking for an investment property?
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Ep105: Annette Camilleri - Why Do You Need A Depreciation Schedule When Buying an Investment Property?
Ep104: Kiani Mills - The Electronic Conveyancing Process
Ep103: Precis Pool - Where to Turn To When The Packing and Cleaning Get All Too Much
Ep102 - Town Taster Laverton
Ep101 - Andrew Butler and Jonno McCartney: How To Comply with Your Plumbing and Electrical Needs with the New Residential Tenancies Act
Ep100: Frank Valentic - Frank‘s Top 10 Do‘s in Investing
Ep99: Sophie Lyon - What You Need To Know When Breaking A Lease
Ep98: Dean Davis - Why Getting The Trades In to Renovate Pays Off On Auction Day
Ep97: Mt Eliza Town Taster
Ep96: David Tong - The Advantages of Buying a Brand New Apartment
Ep95 - Seth Watts: How To Pay For Your Advertising and Styling When You Don‘t Have the Cash in the Bank
Ep94 - David Banks - Top 10 Requirements Buyers Are Looking For In a Property, and How to Overcome Them if You Don't Have Them
Ep93: Kiani Mills - The Process of Getting Your Section 32 In Order
Ep92 - Town Taster - Yarraville
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Ep89: Kane Barnett - Relocating A House
Ep88: Ash Marton - Making the Best First Impression From the Front Gate
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