When Ed and I were starting out as property investors, we made a conscious choice that that, on reflection, was the most life-changing decision we’ve ever made.

That decision was to invest in our own personal financial and real estate education, before we invested in property.

Now, I have to point out that we were not wealthy people at the time, so it wasn’t the easiest decision to make. In fact, we had to borrow money from the bank in a personal loan in order to pay for our property education.

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I’ve personally bought many, many properties without personally viewing them myself, because I know that there are ways to reduce the potential dangers.

As an experienced investor, I’ve learnt the right questions to ask, the traps to avoid and the experts to engage to make sure my sight unseen investments stack up.

In saying this, I’ve seen many investors get burnt when buying out of town and it’s usually because they took shortcuts somewhere along the way.

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This means that essentially, if you are the successful bidder on the day, you are legally required to sign the contract and pay the deposit immediately.

There is no turning back, no second-guesses – you must move forward with the sale.

As you can imagine, this means it’s even more important for you to do thorough due diligence and preparation before auction day, because you need to be 100% certain that the deal stacks up.

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When you invest in property, you’re basically creating your own small business. You have an asset, being the property, which produces an income and you have outgoings such as mortgage interest payments that you need to cover.

Part of running a business is finding the right experts to work with you and I truly believe that your property manager is one of the most important people on your team.

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I always say that before you even think about researching your next property deal, you need to have all of your finance “ducks in a row”, so to speak.

It pays to get your funding organised well before you begin shopping, or you might end up sorely disappointed when you miss out on a prime property investment because you miscalculated your borrowing capacity.

To give yourself the best chance of a smooth and hassle-free finance journey, I recommend you do the following five things.

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