Hi all,
As a property investor which research service should I use, rpData.com OR myrpdata.com?
PJ
myrpdata gives you one off reports, they charge you for each report. Good if you're only dabling in investing.
Rpdata charges a monthly fee and gives unlimited reports. Good for real estate agents or full-on investors.Why not check out Pdslive? It is cheaper & does the exact same thing!
Thanks Kaylah,
I'll take a look.
PJ
Before spending a considerable amount of money on reports, are you looking at the statistics in the back of the two major property magazines? These tables are far cheaper (although often a couple of months old) and can be used to narrow down your target areas considerably. Give these a go first, and you might find that a little legwork can garnish you the same amount of information (or pretty close to it) as those reports.
And good luck!
I have been looking in the data banks of API.
How do I go about finding out past sales in a particluar suburb / street?
I would like to start getting a feel for what is the average sale price for a particular suburb. So that I may recognise an below intrinsic value when it crosses my eyes.
Also, the length of time those houses spent on the market.
PJ
I found this website to be useful http://www.onthehouse.com.au/ – once signed up you can do a property sales report and it will tell you the price the property has sold for in the past. Very similar to what you get from RPData IMO except its free.
dtrump wrote:I found this website to be useful http://www.onthehouse.com.au/ – once signed up you can do a property sales report and it will tell you the price the property has sold for in the past. Very similar to what you get from RPData IMO except its free.Yep, it's quite handy. However, from memory, I think you only get 3 free reports for each email address that you sign up with right?
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Hi Matt B
How reliable is that website for research?
Do you use it yourself in research in IP? If yes, did it paid the dividend for you finding the property of your choosing?
I would like to know cause I"m very keen to use for my self but I want to make sure i'm now buying lemon of research material.
Thanks, Leo
Ipalad,
The site is very accurate and yes I do use it myself.
The research tool utilises PDS Live which is one of the other major players to rival RP Data. So it's actually PDS data and tools that are provided in the package.
The advantage of the website is that it's the only one that allows you to search for IP's specific to your own investment strategy. It utilises a heap of extra filters to really drill down and only display the properties that match your criteria. You can then crunch the numbers (which is another utility on the site) to work out if the project is viable – fall in love with the numbers first!
The properties that are listed are synchronised with all the major websites, and a lot of minor ones, so you're looking at the same properties, but it means you can filter out the tens of thousands that don't match what you're looking for.
It is a very young and new product in the market place, so it is not that well known (although it will be soon), and it offers the investor such powerful resources, that it will pay for itself in no time…
Hope that helps…..
Matt B
Hello Matt B,
Thanks mate. I couldn't agree more with you…..fall in love with the figures!
I know how time consuming doing your due diligence when looking for the right IP.
With this tool, I can see its advatanges (e.g., saves you an enormous time).
Excellent
Leo
If you want to find investment deals for free check out these videos on youtube http://www.youtube.com/philspropertydeals. It shows you how to find them for FREE so you won't have to pay a monthly fee. You can crunch numbers when you check out the property at realestate.com.au as they have recent sales at the bottom of listing, it's provided free by rpdata. Hope this helps and saves you some money.
Kaylah – http://www.philspropertydeals.com looks like an interesting site (at least from the youtube videos) but I'm unable to do anything on it except watch the videos. Maybe it's just a glitch.
I would like to find out if it is as useful as it first appears to be. Going from the brief glimpse I saw, whilst it brings back results, it looks as if you as the investor would still have to go back and forth between various websites to track down the rest of the information to perform your due diligence.
I could be wrong though – as I said I only got a quick glimpse at the end of the video.
You need to go to their website first then select your country (it's near the top). You will then see the screen they use in the videos. Just enter the types of properties you want to search for into the search bar and click search. If you want to be specific you will have to watch the search tips videos. It easy!
All the properties must come from one website because I haven't found any double ups so you shouldn't have to go searching around different sites. So all you have to do is analyse the property (use my tip from previous reply).
Yeah ok – i got it to work but clicking on Australia before the page had fully loaded. Once it fully loads you are stuck in a You Tube loop….lol
I can see the advantages of the website, but the downside is that you are just being redirected back to the main real estate sites to get your information. I can see that it may cut down some time in the search process, but compared to the alternative, Real Estate Investar, I reckon you are still going to spend hours or days searching for the rest of the pertinent information.
Real Estate Investar puts it all at your fingertips – I'm happy to pay for the amount of time that it saves me, and for the quality of homes that I add to my portfolio. However, each to their own.
try saleprices.com.au instead of myrpdata its only $9 for a property report instead of $49
Hi Propertyjockey,
I hope you are using the stats only as part of your research and NOT basing buying decisions solely on it. You must also research the Council website. This is CRITICAL.
I will give an example, a fellow investor invested in an up-coming suburb, all the indications showed it was on an upward trend. He didn't looked in the Council website where it has been pegged as the suburb of choice for the upcoming garbage depot.
People who have bought there are now up in arms and lobbying the Council to dump the plan. It was part of the Council medium-term plan, meaning this was disclosed by Council in their newsletters (who read them, right?). The info have been uploaded in the Council website for years (who also read that, right?). And now the people are blasting the Council for the new garbage site that's suppose to open???
Make sure your research is WHOLISTIC, not just stat-centric.
Google is also very powerful tool. I wanted to buy in either my two dream suburbs: Beecroft and Cheltenham Sydney. The only houses I could afford are on Boronia St., and Castle Howard St., etc. Having surveyed the area, I was turned off them because they were very noisy streets and nothing could potentially fix the noise problem. But what alarmed me is that further google research showed that the freeway is going to be expanded. Wow!. Imagine that. You could be sleeping with ear muffs.
In order to "pick" the right property, you must also let your legs do the walking.
.Take care.
Angel
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