Steps to Buying an Investment Property

Steps to Buying an Investment Property

Step 1: Speak to a Mortgage & Finance Association of Australia (MFAA) accredited Finance Broker When considering an investment property, your first port of call should be your finance broker. An MFAA Approved Finance Broker can help you achieve your investment property goals. They will review your assets and liabilities to determine how much you can borrow, which will, in turn, give you a general idea of your target price range, so you can narrow your property search within your purchase budget.

Step 2: Budgeting Just like buying your first home, when purchasing an investment property, it’s essential to budget. If you’re unsure of the best way to budget for an investment property, speak with your MFAA Approved Finance Broker, they can help you to get on the right path.

Step 3: Important conversations Your MFAA Approved Finance Broker will discuss your plans and your circumstances with you to determine what you can afford. Your broker will also provide statutory documentation to initiate the lending process and work out for you what loan products will be appropriate in your circumstances.

This is just an abridged guide to help you get started. For more information and further details, contact FinanceMart MFAA accredited finance broker Nick Dentrinos today – call 0448 001 001 or email nick@financemart.com.au to arrange an appointment An MFAA Approved Finance Broker is much more than your average mortgage broker.