Living the dream as a landlord
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It may sound easy, but becoming a landlord is not a one-way ticket to riches / File
BECOMING a landlord is the aim of many, but you need to know what you're doing. Property investing is the subject of countless books and seminars in which so-called experts talk about the easy millions to be made.
Property investing is the subject of countless books and seminars in which so-called experts talk about the easy millions to be made.
It sounds easy but becoming a landlord is not an instant one-way street to riches.
It's to be approached with your eyes open and your wallet shut until you are sure about what you are doing. Here are some key questions to ask.
Have I got a big enough deposit?
Requirements for deposits have increased.
While landlords could get 100 per cent deposits this time last year, the maximum loan-to-value ratios (LVRs) have been cut gradually from 100 per cent to 95 per cent and now to 90 per cent.
