Post by Garry Macdonald of Property Buyers Australia
Reasearch, reasearch, reasearch!
Nothing sets you up for a wrong turn in property investing better that not doing your homework. There are many valuable resources available to property buyers and investors. This week, we're sharing our favourites with you!
Residex
The Residex 'Top 100 Postcode Predictions' and/or the 'Best Rent Report' (preferably both). We've found these reports to be extremely valuable investments and quite accurate.
Use these reports to help establish the median (middle) price for properties in that post code and buy at, near or under the median price.
Be aware that you need to conduct your own research into specific areas - don't just rely on Residex (or any other) Reports.
Subscriptions
Subscribe to Australian Property Investor Magazine AND Your Investment Property Magazine.
We recommend you subscribe to them both because they provide enormous amounts of valuable information for minimal cost.
Hotspotting
Terry Ryder's Hotspotting Reports - Terry is a well credentialed and respected property investor and researcher.
The various Hotspotting reports are very thorough and provide invaluable information about specific locations.
Due Diligence
Carry out due diligence (research) by visiting the location, drive around to get a feel for the area and watch how quickly 'For Sale' signs go up and come down. Contact a number of real estate agents in the area to confirm that the asking price is around the median (middle) price range and check the median price for the area on your Residex report.
Proximity to amenities
Notice how close the property is to amenities such as schools (families are reluctant to up-root their children), transport, shops, jobs, café's, universities, hospitals, etc.
Future Developments
Look for infrastructure development. Where government is developing or proposing to develop roads, parks, schools, shopping centres, etc., this usually provides a strong indication that people will move into the area which results in increased demand for property.
There are also many other valuable sources of research available...no doubt you will find your favourites as you continue investing.
"Research is cheap if you want to stay in business, expensive if you don't" Anon
Here's to your property investing success!
Garry lives on the sunny Gold Coast in Queensland with his wife and two children. Garry is a business man committed to helping other achieve their financial goals.
Garry and the team at Property Buyers Australia are excited to announce thier new Virtual Buyers Agent service designed to provide sound analysis to ensure you buy the right property in the right location at the right price. Check it out here.
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