1 = not very confident and 5 = very confident

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* 1: You have done your research

I have researched the property market extensively and have established the best location in which for me to buy. I understand the potential for capital growth, average rental income, vacancy rates maintenance and ownership costs the property

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* 2: You are aware of the risks

I am aware that Investing in property does not always guarantee success. I have taken measures to minimise my exposure to risk, have appropriate insurances in place and have a contingency buffer of funds to prepare for unexpected costs.

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* 3: Your goals are realistic

I am realistic about the capital growth and the time frame I expect an investment property to achieve that growth? I am aware in most cases; property investment provides a medium- or long-term investment option rather than a chance to turn a quick profit.

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* 4: You understand what it takes to own an investment property

I have taken legal advice on my responsibilities as a landlord, will have adequate insurances in place, taken accounting and financial advice about the possible tax implications of owning an investment property.

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* 5: You’re not afraid to ask for help

I am prepared to ask for expert advice on any aspect of the property investment process. Whether it’s asking a mortgage broker, an accountant or financial advisor, or a buyers’ agent to help you find the right investment property.

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* 6: You know your budget

I will have finance pre-approval before I start looking at property and will not sign a contract without obtaining funding first. I know my budget and how much I can realistically afford.

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* 7: Financer Limitations

Not all lenders play by the same rules, so where some banks will lend you money to buy certain property in a particular location, others will not. So, before you started looking, make sure you know what geographic or market sector limitations your finance may have.

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