At Crest Property Investments we have met some fabulous people. One thing is for sure, we all live in some form of property and we therefore have an emotional attachment to real estate. Overtime we develop our own goals and objectives in search for the perfect property. If it’s to live and occupy or to invest and rent out we all have a point of view.
Based on our experiences at Crest Property Investments there are some common investment property goals and objectives that investors often mention. When meeting clients we spend time learning your experiences and objectives so we can ascertain your risk tolerance and time frame. It also allows us to determine if your goals are realistic or not. In cases where they are not, we help by educating you so you are in the best position to prosper from a successful investment portfolio.
What are the most common investment property goals?
- I want to retire on an income stream of $100,000.
Is this possible… yes it is, but it depends if you have enough cash flow to accumulate a portfolio that will earn that annually. You’ll also need equity, an assertive risk tolerance and enough time to achieve the right amount of assets in time. Accumulating enough assets is one thing, but reducing your debts is another. This question is very common in first time and experienced investors. It is possible to achieve this objective, but implementing it will require good advice and an effective cash flow budget. We have some great strategic plans to help.
- I want a high quality tenant
When investors spend and borrow money to buy an expensive asset they want peace of mind the property will be maintained and looked after. There are some wonderful tenants right around Melbourne. From inner city, to outer suburban and the country side. However a quality tenant is more than just a nice person or even a tidy one at that. A high quality tenant is also a financial one. When helping people understand a high quality tenant it often concludes to searching for a young professional that earns good income. So where do we find them and what type of living needs do they have. We have the answers, but it comes down to your budget and what you can afford to buy.
- Will I be able to rent it out?
One of the most common investment property goals is around the concern of renting it out. As investors often borrow to buy an investment property they are naturally nervous if renting it out. Being required to pay the loan repayments and outgoings of the property the rental income is an important need for an investor to reduce the cash flow needs of investing.
When buying an investment property it’s part of our due diligence to review various statistics and trends to ascertain how well a property will rent. We also partner with some of the best property managers available who can implement a successful rental campaign.
Location is a large contributor to having your investment property untenanted. We also have some good strategies in the buying process that will attract a tenant faster.
If you need assistance in discussing your property goals and objectives please don’t hesitate to contact us.
While we have taken care to ensure the information above is true and correct at the time of publication, changes in circumstances and legislation after the displayed date may impact the accuracy of this article. If you want to learn more please contact us. We welcome the opportunity to assist you.
Mar 2019
