- Mylesy06Member@mylesy06Join Date: 2008Post Count: 1
I am new to investing and would really appreciate any advice I can get from people who are knowledgable in investing in property.
I have a couple of questions:
1. What do i need to look for in deciding which suburb to invest in?
2. Where do I find this information out?
Thanks in advance.
Regards,Kiwi-FullaMember@kiwi-fullaJoin Date: 2002Post Count: 371
Depending on your investing stragegy (Cashflow, growth or combination)….. check out medians in areas and also rent returns…. this will give you an idea on yeilds in the area…. also check price trends and growth… plus net migration in the areas you are researching…. then rental demand (vacancy rates and how many rentals on the books … and how fast or slow they are sitting on the books) …. sales demand etc (days to sell, number of sales)….. once you have pooled all of that info together you can make some more informed decisions and opinions on what your next step should be…..
Also don't follow the herds….. make your own decisions and in your own time …… making a high pressured emotional decision could be one of the biggest mistakes you make (or biggest leson you will learn). I network with a lot of investors and almost all that have lost money on deals ….. when I probed as to what made them buy in the first place ….. said they made it on emotional and not common sense (business) merit.
Hope this gives you a good start point.