Well its the start of a New Year looking to puchase IP no 2. Wanting the obvious with the purchase positive cashflow with growth. Just wondering if anybody could write up the steps they follow in finding good areas. cant tell you how many times i look at courses costing $2000 for 2 day courses . I really want to be able to find areas that are growing myself without following the masses.. Thanks for all help that may be sent
Lorraine
Getting your second IP. Sounds exciting. A few things you may consider: check that the area has growth potential, ie. has industry that is prosperous or about to be developed, schools, facilities, parks, conveniences near-by and perhaps is a property that has the potential for two lots of rent. eg. A house with a granny flat or unit out the back which can be rented separately.
Regards
Peter S ([email protected])
High Rent Return Properties – http://www.ozpropertyinvest.com/hy/2022.htmlHi Lulu
I recently read Margaret Lomas's book "20 must ask questions" – she has developed some great criteria for identifiying potential growth areas. I think it was only $20 from Big W – a bit cheaper than $2k!
Cheers
Jamie
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]
i agree with Jamie. Oneof the best $20 i invested! Don't spend $2000… buy a few of Margaret Lomas books. She also has podcasts available with suburb reports that talk all about a particular suburb for investing purposes. THey are $8 to download… and they are yours to listen to over and over on an Ipod or MP3 player…..
Jamie M wrote:Hi LuluI recently read Margaret Lomas's book "20 must ask questions" – she has developed some great criteria for identifiying potential growth areas. I think it was only $20 from Big W – a bit cheaper than $2k!
Cheers
Jamie
Could not recommend this book highly enough. Great source of information that has helped over the years.
There are a number of criteria to deal with when looking for a good working IP.
As land holders and builders we look for the following:
Schools (Primary and Secondary plus the draft plans for more)
Shops (Local corner store and centres)
Public Transport (Trains and bus routes)
Close to Main Roads ( not close enough to be driven mad with noise though)!
Close to Freeways (As above)
Affordable rents
Plenty of work (Old work and new work)I see that you want to get positive geared.
Positive geared is not always the answer!
Remember positive can impact on your taxable income in a negative way.Happy hunting
Kevin
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