Tips for investors

There are a few things you need to consider when thinking of investing in property.

If you're planning to rent out your investment property it's worth factoring in a period when the property will be empty and not returning any rent.

Ask yourself if you can afford the repayments to cover the mortgage without the help of rent. Work out how much you'll have to contribute when you aren't getting any rent and make sure you can meet all the repayments.

It's worth checking out landlord insurance to protect your investment. Landlord insurance is insurance that will protect your investment property against damage and rental default (confirm all the details available with your insurance provider).

When you're considering buying an investment property study the local amenities in the area. Don't get emotionally attached, instead think of your investment property as a capital investment and research the type of properties you're considering buying and the property location. Remember, this is not going to be your dream home - it's to help you make money and build wealth.

Get good financial advice and make sure your mortgage is structured so that you get the most out of your investment property.