All Topics / Help Needed! / 1st timer’s question

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  • Profile photo of nlforevernlforever
    Member
    @nlforever
    Join Date: 2012
    Post Count: 7
    January 9, 2013 - 12:48 pm

    Hi folks

    Just wondered how you do a good research for a suburb, population, trend(which type of property is popular) and due diligence.

    What I mean by research is not superficial one but thorough one for good buy for my 1st property(3bed, >500k, qld) or renovation for flip.

    I know it is quite vague question but i don't have much ideas of it and reckon it's the most essence of the game.

    Cheers

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069
    January 9, 2013 - 8:50 pm

    Hi young j

    I can't specifically answer the question but there's a decent list of research websites here that might be of assistance.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of DWolfeDWolfe
    Participant
    @dwolfe
    Join Date: 2009
    Post Count: 1,253
    January 10, 2013 - 12:25 am

    Hi all,

    You might also want to pick up a copy of Margaret Lomas book '20 Must Ask Questions for Every Property Investor'. it's a good starting point if you have never looked at any property before.

    For reno's an flips you'll also need to speak to some realestate agents and start finding out prices for unrenovated and renovated properties. You need to be looking for a large gap between these two prices to even start contemplating a renovation in a suburb.

    Good luck, there is heaps of information on here, and ask as many questions as you like :)

    Cheers

    D

    DWolfe | www.homestagers.com.au
    http://www.homestagers.com.au
    Email Me

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069
    January 10, 2013 - 1:53 am
    DWolfe wrote:
    Hi all,

    You might also want to pick up a copy of Margaret Lomas book '20 Must Ask Questions for Every Property Investor'. it's a good starting point if you have never looked at any property before.

    Good point.

    That book has good criteria for basing your search around. You don't necessarily have to use all 20 that are recommended – but can cater your own search criteria around the ones that she lists in her book.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of DWolfeDWolfe
    Participant
    @dwolfe
    Join Date: 2009
    Post Count: 1,253
    January 10, 2013 - 5:32 am

    Sorry, I also meant to say "Great List Jamie" but my first post got deleted (operator error).

    ABS website would be good too.

    Cheers

    D

    DWolfe | www.homestagers.com.au
    http://www.homestagers.com.au
    Email Me

    Profile photo of nlforevernlforever
    Member
    @nlforever
    Join Date: 2012
    Post Count: 7
    January 10, 2013 - 11:48 am

    Thanks a lot folks!!

    I feel more encouraged and inspired.

    I am reading margaret's book now.

    and good link by jamie for the research.

    Cheers

    Young

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