Let’s say you’re looking to expand your property portfolio, but you aren’t sure whether the opportunity stacks up? You might be looking to buy off the plans or you could be interested in an existing property, maybe a standalone, a townhouse or an apartment. It’s a good time to crunch some numbers.
Capital growth and cashflow positive are both good strategies, and you will likely have a plan for your next purchase. Whatever you decide, it is essential to get professional advice to see if the deal makes sense.
Be sure to do the math for both worst-case and best-case scenarios and don’t forget to financially prepare yourself for any unexpected events that may occur in the future.
While it’s easy enough to establish a rough idea for expected rents on your own, you may not be aware of other external influences, it’s a good idea to talk with the experts before you dive in.
Invest some time in having the discussions that will help you to become fully informed.