Ungaro&Co

The Mortgage How-to’s

April 23rd, 2009

It is important that if you are considering purchasing an investment property, that you get specialist advice. The process generally works like this:

Talk to us

An initial consultation involves talking with us about your goals and your thinking behind investing in property.

• The purpose of this meeting is to gather information from you, in order to:
• Firstly, obtain a finance pre-approval (so you know how much you can spend on a new investment property before you buy)
• Secondly, to discuss how your overall lending could be restructured, in order to make things more tax efficient.

Go Shopping

Do your research carefully – investigate the rental returns, historic property values in the area you are looking at, and have a careful inspection of the property itself before you go any further.

As part of the pre-approval process with us, we will organize a facility with your bank to assist in paying the deposit on a property if required

See an Accountant

It is extremely important once you have located a property to seek the advice of someone who is qualified in this tax advice – books and seminars are great, but please seek independent legal advice and independent tax advice before embarking on property investment. We can suggest accountants that specialize in property investment if you do not have one.

Talk to us (again!)

Part of our service involves meeting with you (and your accountant at the same time if required), to discuss the most tax effective loan structure and to satisfy the final conditions of your loan pre-approval.

Find a tenant

Unless you have time and head-space for this sort of thing, we strongly recommend using the services of a rental management company in order to source and manage tenants. We can point you in the right direction here, by introducing you to rental managers in your area.

Other professionals

Buying property usually means you need to employ the services of specialist advisers – your accountant, your lawyer, registered valuers, and your financial services adviser (that’s us!) are the most important people you will use in this process as they are all obliged to act in your best interests. If you need to be introduced to one of these professionals, please let us know.