Hi all,
I have been looking for an investment property (my first) for about a month now. My cousin who just bought his first apartment to live in recommended me this tool available for the iPhone called "Property Investment Calculator".
It is extremely helpful if you just want a quick and accurate comparison between renting and buying or how much it will cost to maintain the property based on all the various ongoing costs.
Does anyone know of any other tools such as this which could be helpful?
I got some other apps for my iPhone but they don't seem to be as easy to use or straightforward.
As you can tell I am into portable tools as I love having them with me at open houses etc.
Cheers!!!
BPSorry, but I think you need to keep it real……. when a tool can feel the serenity, or see the opportunity, or research a highway going through your backyard, then entire population will be wealthy. Property and wealth creation is for those that are willing to get a little dirty, meaning that you will put in the hard yards. Property has way too many variables for your little phone………
Hi BP,
How will you know when you find the property you are looking for? ie, what is your goal and strategy in property investing. Worst thing to do is buy a property, then try to figure how to make it work for you.
eg Do you have extra income that you want to use to pay for the basic costs of your IP? What if your needs change, do you still want to be stuck paying of the interest bill?I strongly recommend you read the book, From 0-130 properties in 3.5 yrs (revised edition). Get some basis for your investing, rather than a gadget that can not make money for you. All the (basic) calculations are in the book, and you can do them with a calaculator and learn a lot about the financial viabillty of a property. Also, help you decide what you want to achieve in property investing.
quickchick
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