Hi all
Im all about property investing
But I don’t know where to start.
OK we’ve found the property – we like the price
What do we do from there? Everyone mentions things like Due Diligences- how do you go about conducting this
Research the area – what do you research and how would you conduct it?
Ie. Population is easy enough, but where would you find information on things like potential infrastructure, new developments of properties that could affect supply and growth.
All the theories which I have read so far are realy good, esp. Stave’s book – But what practical step do you (as an investor) take before you make a purchase?
The areas that I am concerned about are but not limited to:
– rental – how do you know if there’s an oversupply of rent? What indicators which you use and review to help conclude whether the area you’re buying in is rentable?
– Due diligence – what DD areas would you look into? How would you go about doing it?
– Financing – What financing method would you use when investing in properties? Ie. 5 Year interest only?
Please guys feel free to ask other questions on nay other area you feel I’ve missed (and I know I have missed out a lot) on this thread.
Investors, please help buy contributing your “procedures” on how you conduct your research before you buy, what sources you use, etc, etc.
I am hoping to be apart of the investing arena by the time I hit 25 (23 atm) and would be greatly appreciative of any help you guys can provide.
BTW
Im reading Steves 260 in 7 years books – but I haven’t read his first –would it be crazy to read the sequel without reading the first?
Kind regards
Rossco
–
Rossco all I can say is spend some time browsing older posts on this forum – all this has been covered in depth, and you've got two years to do some more research! All the best.
Why not speak to some of the property manager in the area they should be able to give you an idea of rental prospects, contact the local council for information of incomming infrastructure etc, there are some useful sites on our useful sites page see below
You must be logged in to reply to this topic. If you don't have an account, you can register here.
