- Check borrowing capacity with a mortgage broker
- Calculate deposit (10-20% plus costs)
- Get pre-approval from lender
- Budget for upfront costs (stamp duty, conveyancing, inspections)
- Build cash buffer (3-6 months of holding costs)
- Understand tax implications
- Decide primary goal: cash flow, capital growth, or balanced
- Set investment criteria: location, property type, price range, yield
- Complete investor profile (risk tolerance, timeline, financial capacity)
- Research 3-5 target suburbs
- Set up property alerts on listing sites
- List 5-10 properties matching criteria
- Analyse each property: yield, cash flow, growth potential
- Compare added properties side by side
- Narrow to 2-3 serious contenders
- Order building and pest inspection ($500-$800)
- Request strata/body corporate records (if applicable)
- Conduct title search
- Check council records: zoning, DAs, flood overlays
- Review comparable sales (last 6 months)
- Check suburb vacancy rates
- Identify and assess any red flags
- Engage conveyancer or solicitor
- Make offer or register for auction
- Review contract of sale with solicitor
- Arrange building insurance from exchange
- Finalise loan
- Complete settlement
- Appoint property manager
- Set up landlord insurance
- Order depreciation schedule ($400-$800)
- Open dedicated bank account for rental income
- Prepare records for first tax return
Virtual Buyers Agent handles this automatically.
See how it works 