How do I start a property investment in Australia?

Building your property investment dream team

Published 21 Oct 2021 | Updated August 9th, 2023 3 min read by Property Ducks Key to the success of your first investment property is having the right team of experts in place. Here’s a rundown of who to include and how they can help you.

Buyer’s agent: A buyer’s agent will save you time when researching property options, and help you secure the right property at the right price. This is particularly beneficial for first-time property investors who may lack confidence, or be unsure about what the property is actually worth.

Financial adviser: If you need advice on whether property investment will help you meet your financial and lifestyle goals, a financial adviser is the expert you’re looking for. They can help you work out a budget and advise you on how much you can allocate to your property investment strategy.

Accountant: An accountant will help prepare you for the financial impact of buying a property, structure your investments in a tax-efficient way, and assist with tax reporting activities.

Mortgage broker: A mortgage broker acts as a middleman between yourself (the borrower) and the lender (the bank). Each bank and mortgage provider has slightly different products, interest rates and fees. That’s why engaging a mortgage broker can help you save time and money by sorting through the options, and providing recommendations that are best suited to your situation.

Conveyancer or solicitor: A conveyancer or solicitor will review and prepare the legal paperwork (i.e. the contract of sale), and offer advice about the purchase. They’ll also organise the transfer of the property into your name, and manage settlement of the loan with the bank.

Building inspector: Before you commit to purchasing a property, arrange for an independent building inspection to be done. This will give you the true condition of the home and prevent any nasty surprises that could result in costly, unexpected repairs.

Property manager: A property manager will look after all aspects of finding tenants, renting out the property, dealing with any repairs and managing any issues that might come up. While they will charge a fee for this service (usually a percentage of the rent paid), it’s money well spent as you don’t have to worry about the day-to-day management of your property.

Property Ducks can connect you with a carefully curated and vetted team of external and independent advisers, including financial advisers, mortgage brokers, building inspectors, conveyancers and property managers. Part of the Property Ducks service is making sure your advisers are all on the same page and working together to ensure your first property investment is seamless and successful.
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