When it comes to purchasing an investment property, a lot of people get overwhelmed by the daunting process. Some of them quit before they even start. However, property investment does not have to be complicated. Instead, the reality is that real estate investment is relatively straightforward.

Before you start looking for [b]homes for sale[/b], have a look at these five steps to create a property portfolio on solid ground.

[b]Check your finances[/b]

To help you start your journey, you should check your finances first by listing your assets including your income and your expenses. It will give you a budget you should set to invest. With a reasonably good job and a stable income, you don't have to be afraid of investing in a property that you assume you cannot afford. After all, your current job and solid employment history should help you get a loan.

[b]Set your goals[/b]

Whether you want to purchase a property for residential or investment purpose, it is essential to figure out your goals so that you can secure your financial future. Moreover, it is also important to set a deadline as to when you have to achieve them.
Create a purchase plan

An ideal purchase plan should assist you in developing the investment portfolio. It should be designed based on your financial status and income. Moreover, it should serve as a structure for you to stay focused on the home you are planning to purchase. For creating a purchase plan, you can take help from an experienced [b]real estate agent[/b]

Here are some points you need to include in your purchase plan:

• Write your strategy
• Set up your criteria
• Find a real estate agent
• Research
• Cull your list
• Get appraisal for your loan
• Make an offer and negotiate

[b]Start budgeting[/b]

Once you have made your purchase decision, budgeting is the only way to ensure that you can successfully balance your income and expenses. You can use a budget planner to see where you have been spending your money and how to save more for your dream home.