When purchasing an investment property, it is crucial to undertake area research to gauge if a property will be a suitable, profitable investment.
BMT Tax Depreciation has developed a new feature within its online portal MyBMT helps property investors make more informed decisions relating to their investment property.
The new research and insights tab assists investors to learn more about the area in which a potential investment property is located.
The feature allows investors to discover newly listed properties in their area as well as important metrics such as recent census data, information that can assist the decision of whether to take on an investment property.
The research and insights tab also informs investors of any lodged planning applications and new developments in the area so there are no surprises after purchase that could decrease the property’s value.
Investors often struggle to know the true value of their investment properties in the ever-fluctuating market. Using the MyBMT research and insights feature, investors can generate a metric-based valuation for their investment properties which have a depreciation schedule in MyBMT.
Another useful tool included in the research and insights tab is PropCalc. PropCalc is a innovative calculator that can help you determine the cash flow required to hold a property.
It uses data such as income, stamp duty, deposit amount, expenses, rental income and tax depreciation figures to provide an accurate after tax figure.
PropCalc is an essential tool for investors considering the purchase of an investment property. It comprehensively calculates the costs associated with holding an investment property and thereby assists investors to determine whether a property is right for them.
The new research and insights feature in MyBMT centralises the work involved in purchasing an investment property and assists investors to make smarter financial decisions.
To explore the new research and insights tab, register for MyBMT today.