When people think of buying an investment property, many only think locally. Investing in a property interstate could possibly be a smarter idea, potentially resulting in a better return on your investment. It may also be a potential way to snaffle a bargain. You could be buying into an area with greater potential capital growth compared to your home state – as each state reaches different stages of the property cycle at different points.
Some of the key issues to keep in mind include:
The logistics of property management
As with all investment properties it pays to engage with expert property managers to oversee the day to day running of the property. Centaur Property Solutions are experts at extracting every possible advantage and financial gain out of an investment property for our clients.
Our operational procedures mean our landlords organically build their wealth faster, meaning they grow equity quicker which leads to faster re-investing if that it their strategy. Either way, building equity quickly is the key.
We also using cutting edge tech to deliver the most transparent service currently available which keeps all key parties involved and informed at every step.
Get a pre-approval
Pre-approval is important because it informs you about barriers you can encounter when you seek to arrange finance for an interstate investment.
Certain lenders can be restrictive in the terms and conditions they attach to loan approvals in different parts of the country.
The location of the property could impact the amount you can borrow from a lender – and it’s important to remember different states have different fees and taxes.
Getting a pre-approval can give you the confidence you need to make a sound investment decision.
Interested parties can get in touch and we can refer you to seasoned lending professionals who can devise a structure and strategy to best service your needs and meet your criteria.
As with any property, local or interstate, there are pros and cons and you need to conduct your due diligence to ensure you make a good decision.
To decide if interstate property is a suitable investment for you, it’s worthwhile consulting with Centaur Property Solutions and we can take you through our unique 3 step client engagement process to determine what is the best, most appropriate move for you depending on your circumstance and criteria.