ByJohnSageMelbourne
Therearecoupleofthingsmorevitalthantheplaceofyourinvestmentproperty—somewouldsaythere‘snothingmorevital.Appearslikeabasicprinciple,howeverhowpreciselydoyourecognizewherethegreatplacesaretobuy?
Let‘sgothroughsomethingsyourequiretothinkabout.
Familiarmarkets–Thinkaboutpurchasinganinvestmentpropertyinanareayouarefamiliarwithasitwilltakeyoulesstimetoresearch.Examinerecentsaleratesintheareatoprovideyouanconceptofwhatyoucananticipatetopayforregionalhomes.
FollowJohnSageMelbourneformoreexpertpropertyinvestmentadvice.
Developmentsuburbanareas–Lookforlocationswherehighgrowthisexpected,wherethereispotentialforcapitalgains.
Rentalyield–Lookforareaswhererentsarehighcomparedtothepropertyworth.
Lowjobrates–Findoutaboutthevacancyratesintheneighbourhood.Ahighvacancyratemightshowalessdesirablearea,whichcouldmakeithardertoleasethepropertyout,orofferitinthefuture.
Preparation–Learnaboutproposedmodificationsinthesuburbanareathatmayimpactfuturepropertyrates.Thingsfreshadvancementsorzoningchangescanimpactthefutureworthofaproperty.
Conclusion
Onelastthingtosayistobepatientandwaitfortheidealproperty.Donotgetrestlessandbecomestrainedwithanunprofitableproperty!
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