Are there tips that anyone can share to help me become more systematic in my property research.
SHould I be starting with wesbites like DOMAIN.com and REALESTATE.com? Should I be going region by region and trying to contact local agents? Should I be hitting the road?
Australia is a big place and I am all ready to buy wherever the best investments may be – my trouble is how to go about finding them in a way that’s smart and organised. [
]Before starting to call on real estate agents to look for properties would it be better to look first at some statistics like population, income, vacancy facors, employment details in a particular area or town ?
What do you think Sambo ?
Pisces133
Sambo,
Hi, first post I see welcome. Basically no one is going to make it easy for you, I don’t think there is an easy way, some people spend in excess of 12 hours a day sourcing properties. Some good advice (may not seem that way) has been given already. First locate an area where due to its geographical location, industries, tourist or lifestyle features offers something other areas dont. Then research the areas as mentioned, population, vacancy rates, income, employment, crime rates etc. Once you have identified one or more of these areas which importantly you believe have the ability to substain their appeal, then contact real estate agents and go from there.This is not set in stone as it may happen the other way round, you may see a property offering good returns first. Doesnt matter the same research should be done. Sorry there is not an easier way (if there is noone is telling me) unfortunately there is no substitute for hard work. Best of luck.
WAF
The local council web-sites (at least in Victoria) generally have information regading demographics and other general property indices in the area.
Valuer-General’s office in each state has property values as well. (I think there is a charge here though).James
Hi, first post I see welcome. Basically no one is going to make it easy for you, I don’t think there is an easy way, some people spend in excess of 12 hours a day sourcing properties. Some good advice (may not seem that way) has been given already. First locate an area where due to its geographical location, industries, tourist or lifestyle features offers something other areas dont. Then research the areas as mentioned, population, vacancy rates, income, employment, crime rates etc. Once you have identified one or more of these areas which importantly you believe have the ability to substain their appeal, then contact real estate agents and go from there.This is not set in stone as it may happen the other way round, you may see a property offering good returns first. Doesnt matter the same research should be done. Sorry there is not an easier way (if there is noone is telling me) unfortunately there is no substitute for hard work. Best of luck.
Agreed
Warm Regards
ChanDollars
[Keep going, you’re nearly reach the end of financial freedom]ok,
i am new to this site just like you, so welcome!
Anyway, i’d like to say that if you go realtor.property.com.au, you can subscribe to something called RPData, most realestate agents have this access. this info. basically shows all the sales records for every property that has been sold! It is great for working out the potential appreciation and the value of the property.Karan
*****
Please reply to [email protected]
*****Please note that all sales which are recorded are some two months or so old. (out of date) and therefoe can give one the wrong impression.
R.P. data may be O.K. (I am a subsriber) but is too dear ($ 195 per month or so ) just for obtaining occasional sales details.
Pisces133
Nothing beats hitting the road!, best advise I can give is make sure you take the basics, mobile phone, a few pens, a notebook and a map, I know this sounds lame but when you are out on the road it`s easy to forget numbers etc and who was selling what at what price.
Write everything down as soon as you see it and even a camera for photos to check out later.[]
Also get the phone number of the local council so you can phone them and even drop in usually they will answer zoning questions and just about anything about development or problems in the town/city etc no problems.Hi Sambo
Welcome to the forum.
Some good ideas have been expressed already.
As has been expressed take a digital camera with you as you will have instant replay of your pictures.Also talk to property managers in the areas you are interested in. They will know alot about the area as that is where their clients are.
Perhaps take a check list to fill out about each house you look at. Helps to remind you what you have looked at. Have seen a check list on a forum somewhere. You will have to search for it.Perhaps have a chat with a friendly policeman in the area. They will know the bad areas, streets and houses.
Check with councils about flood prone areas. Insurance Companies are becoming more wary about insuring house in areas which suffer from flooding.
Good luck with your due diligence.
Regards
>>As has been expressed take a digital camera with you as you will have instant replay of your pictures.<<
Slightly diverging a bit, has anyone had any experience with the newish camera/mobile phones ?
Are the pictures clear enough ?
Someone mentioned that the moment you blow up the picture it loses a lot of clarity ?If this is so, can that be overcome or are there particular phones on the market which don’t have that setback ?
Pisces
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