Most property investors only own one property but with two investment properties, you have the chance to build twice as much wealth.

Here are 5 signs from RealRenta that you may be ready for your second property:

• If you have been steadily building equity for about 3 years, you can use the equity in the first property as a deposit to purchase another property. Your lender may require you to keep 10% equity in the first property so you will need at least 30% equity to begin with.
• If you have started earning more money and if you have more savings, you are in a better position to handle any unexpected costs that come with property investing. 
• If your first property investment has been successful, you can replicate this with your second. Use RealRenta to help you manage both properties and keep your administrative costs to a minimum.
• If you’re close to retirement age, now might be the best time and step up your game. If you’re smart, pay the mortgages off as quickly as possible so that your properties can fund a very comfortable retirement. 
• The OECD have suggested that rates could start rising soon, so consider the costs of borrowing very carefully, find a good mortgage broker and make sure that if rates do rise, that you can cover the additional costs.

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