Building your expert property investment team

If you are planning to make a profit through property investment, you need to invest both time and money – and you also need the expertise to achieve your investment goals. If you try managing every aspect of the property investment single-handedly, you might find that the profits you make do not balance out the time you need to spend on loan negotiations and property management. You could also miss out on profits, if your bank loan is not cost-effective or if you have chosen the wrong investment property. By hiring experts, you can streamline your system, saving time and making money.

So, what experts do you need on your property investment team?

Buyer’s agent

While a real estate agent represents the seller in a property transaction, a buyer’s agent represents you as the buyer. A buyer’s agent can take over the time-consuming task of sourcing and inspecting properties. They will also negotiate a fair price on your behalf. With expert knowledge of the property market, the buyer’s agent can provide valuable insight into the best locations for rental yields or capital growth.

Mortgage Broker

Your mortgage broker streamlines the process of acquiring a property loan for your investment. There are countless loan packages available, and it can be overwhelming to try identifying the right loan for your specific needs. But your mortgage broker has the expertise and the network of lenders to find the right loan for your purposes. The broker will also help you complete all the paperwork and liaise with the lender on your behalf to ensure the loan application is processed promptly and efficiently. With the right loan, you can boost your profits by saving on interest, particularly as mortgage brokers generally have access to special deals that are not available to the general public. Most mortgage brokers are paid by lenders through commission, so you do not have to pay for access to their expertise.

Property Manager

Managing an investment property can be extremely time-consuming, particularly if you have other commitments such as a career or family. A property manager can act as landlord on your behalf, by fulfilling tasks such as screening tenants, conducting regular property inspections, and promptly dealing with any repairs and maintenance as required. While you will have to pay your property manager a fee, these fees are tax deductible.