All Topics / General Property / Investment Property Guide

Viewing 4 posts - 1 through 4 (of 4 total)
  • Profile photo of svermasverma
    Member
    @sverma
    Join Date: 2005
    Post Count: 2

    Hi All,

    This is SID from Melbourne. Lets say my wife & I are just embarking on the idea of starting to invest in our first “Investment Property”.

    Is there some sort of a guide that helps you in assessing how does one choose the right propoerty?

    Any ideas / suggestions would help.

    CHEERS

    SID

    Profile photo of Nigel KibelNigel Kibel
    Participant
    @nigel-kibel
    Join Date: 2005
    Post Count: 1,425

    You NEED TO DO YOU GROUND WORK AND CARRY OUT YOUR RESEARCH. Firstly pick out areas that meet your plans. If you are looking for capital growth look to inner city areas. You then need to get to know the area like the back of your hand. Go through every property in your price range. Also go through all the rental properties. You will find that over a short period of time you will have a good idea of what is available and the price range. Finally look at properties and ask are they close to public transport, shops, schools, childcare centres ect. If you were a tenant why would you rent this property. This is what I do all the time whether I am researching Australia, New Zealand or other places. I will shortly load onto my web site a property evaluation sheet which may help.

    Nigel Kibel

    http://www.propertyknowhow.com.au

    Australian and New Zealand Property Researcher and education seminars

    Nigel Kibel | Property Know How
    http://propertyknowhow.com.au
    Email Me | Phone Me

    We have just launched a new website join our membership today

    Profile photo of alexleealexlee
    Participant
    @alexlee
    Join Date: 2004
    Post Count: 46

    1) Read all the property books you can get your hands on (especially ones that talk about how to deal with agents)

    2) Decide on a few suburbs you might be interested in and research them thoroughly (historical price reports, demographics, talk to people who live there)

    3) Look at lots and lots of properties, both rentals and sales.

    Profile photo of alexleealexlee
    Participant
    @alexlee
    Join Date: 2004
    Post Count: 46

    Also, Sid, you may want to go back a step and put down your objectives with property investment. Are you looking to build your retirement fund? If so when do you want to retire, etc? How much can you afford, what is your tax situation and what happens if your circumstances change? (Change job, kids, etc).

    Property investment is only a tool: what is a good investment depends on your objectives and your circumstances. You need to define your circumstances and objectives first.

Viewing 4 posts - 1 through 4 (of 4 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.