`1. Pre-approval

Getting pre-approved for a mortgage is beneficial if you're serious about purchasing an investment property. 

You'll know what you can and cannot afford by doing this. To find out the upper limit of your price range so you know where you stand, get in touch with your bank or mortgage officer.

Getting pre-approved provides you access to the investment process such as project management, finances, and insurance. 

2. Budget & costs

Decide on a reasonable limit for yourself and follow through with it. Take into consideration the risk/return tolerance, cap rate, taxes, management fees, and other costs such as refurbishments. 

3. arget audience

Determining your target audience makes selling or renting out a bit easier. 

Think of who you would like to cater to. Whether it’s families, students, professionals, or holiday goers, your audience truly adds more purpose to your property. 

4. Location 

After you’ve determined your audience, it’s time to go location hunting.

Searching for a location goes beyond looking at the property, but the place surrounding it. 

You should consider location when making a purchase as an investor. Is there a city boom? Is the economy diverse there? Is it home to a significant business or company? What kind of amenities and attractions are available locally and how are the schools? 

Property investment lives up to its reputation of giving you the passive income and life you desire but it also comes with a lot of hard work and sacrifice. Be our investor at HomeFree Ltd and we can help you every step of the way. 



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