Step 6 - Valuing and Inspecting Properties
Now that you understand the true value of the property you are looking to purchase, you want to do a very quick cash-flow check to make sure that the expected yield still aligns with how much you were expecting to be out-of-pocket each month / year on this property.
I have mentioned this a few times but you can confirm this through using some of the online calculators and plugging in the relevant details. The below are my favorites:
You should be able to find all the details either from the property listing, ChatGPT, insurance quotes, Google, sales agent, conveyancer, mortgage broker and draft sales contract etc.
For reference, if you want to find out how much your proposed property would actually rent for - you can ask the sales agent who may have a rental appraisal already done, you can ask a property manager in the area and / or you can also just check what similiar properties in the same suburb are currently listed at for rent on realestate.com.au or Domain.