9 Questions You Must Ask Before You Become A Property Buyer

One way or another, everyone is involved in the real estate industry – either as tenants, home owners or investors.  Here are 9 questions you might consider asking prior to taking the plunge into the most significant purchase of your life:

1. How can I profit from this investment? 
2. What are my risks? 
3. What form of insurance do I need in place? 
4. What name or structure should I purchase the property in? 
5. How can I improve the profit potential? 
6. If I need to sell, what is my exit strategy? 
7. Can I afford the property if things change, eg interest rates increase?

8. What type of loan should I take out?

9. What does my accountant and solicitor say about tax/legal

     Implications?

This is by no means a comprehensive check list but is designed to cover most of the issues which arise in property investing.

A New Definition For ‘Bank’ – totally out of touch

There is a new definition for the word ‘Bank’…out of touch, uncaring and greedy!  OR maybe it’s not so new.  If you read the media release issue by the Reserve ‘Bank’ (click the link below), it goes to prove just how out of touch these people are.  The media release reads like a university lecture in Economics 101.  What these people fail to address is existing ‘real world’ implications – the increasing struggle of many folks just to maintain mortgage payments (let alone the impending increase).  AND this has a follow-on impact on all of us. 

http://www.rba.gov.au/media-releases/2010/mr-10-26.html