With about 280,000 homes currently for sale around Australia thorough various channels such as real-estate portals, private sales and sites like EBay and Gumtree, there is plenty of choice when it comes to selecting the right property. And with such a large number of factors affecting each local market eg, new coal or gas mine discovery, changes in zoning regulations, employer moving into a new area or population movements can make selecting process quite daunting.
A buyers agent has access to tools , contacts and information to help identify a market that may achieve great capital growth due to one or several infrastructure changes and allow you to make well informed investment decisions.
If you are looking at an investment property you may also be asking yourself if you should manage the property yourselves. My experience of self managing and using a property manager has shown a professional property manager is a much better solution due to the legal obligations, resolving conflicts much quicker, finding better quality of tenants and taking the emotion out of our decisions and of course their costs are a tax deduction. A good property buyer agent will be able to suggest other professionals such as property managers, legal advisers, accountants to help you manage your investment.
Another important part of the investment property process is engaging a good accountant to ensure you are getting the maximum tax deductions and complying with the ATO regulations as they can save you many thousands of dollars.
Lastly In any property transaction we need a great Lawyer or Solicitor to ensure the contract is legal and point out any clauses or covenants that will affect us to ensure the settlement goes as smoothly as possible.
Engaging the right professionals when looking, negotiating and managing your investment will make the process an enjoyable one and give you peace of mind that your investment will be taken care off and your profits maximised.