I have my set of property selection criteria which can be summarilzed and ordered as
Location
Speciality
Quality
SizeOn top of it, would be the finanical measurements, like ROI and 5 years cash flow forecast.
Just wondering, how others would preform their evaluation? Would you use any other qualitative measure?
regards,
Hiu
Good points of distinction.
Have you thought about desirability.
I feel its a bit different to to quality in its own right.
The more desirable the property, the more emotional people get over them, for renting and fro reselling if need be.
There are those that LET it happen, and there are those that MAKE it happen!!
Hey there ’40
What kind of strategy are you looking at? Buy and hold? Wraps? Flips?
You may want to add to that list the *type* of property that makes up the majority of sales in the area (is it all 2 bedroom units, split level townhouses, large old Queenslanders?). The more like the average sale your property is, the greater the demand is likely to be at a decent price level for the area IMHO.
Rental yields could be worth looking at, too so you can see the difference between what it would rent/wrap for compared to what mortgage payments are likely to be.
Hope this helps!
Quasimodo
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It seems to me that action has a most magic way of answering
all the questions our fearful mind tries to throw before us…
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