dangermouse99Participant@dangermouse99Join Date: 2004Post Count: 88
Hello All and thanks in advance for your advice.
Im looking at doing a development in Vic or QLD in a town im unfamilar with, so what steps and processes do you follow to do your research & due diligence on that town you don’t have much knowledge on. Which website, data sources, figures and stats and people to you use so I can make sure im investing with confidence.
Any help or advice would be greatly appreciated.
Deanlandt64Participant@landt64Join Date: 2004Post Count: 166
I'm no expert but certainly happy to share what I do. So far I've only bought 3 investment properties but I've seen pretty good growth from all 3 so far. I don't buy in a town with less than 10,000 people. I use the APM data found at the back of the Australian Property Investor mag to see what the 10 year growth % per annum is and look to see if the town I'm interested in has somewhere above 8%. Any less than this and I don't think I'm going to see capital growth. I've just signed up for Real Estate Investar which costs around $250 per month, and while it's not bad I don't think it offers a lot more than other websites like, homesales.com. or realestateview.com, so i don't think I'll continue with this subscription. I'm sure you'll get lots of good advice from other people on this site. Good luck.
LandtchristianbParticipant@christianbJoin Date: 2009Post Count: 386
In essence you have two major issues (each of many parts) to contend with:
- The investment strategy – the financial goals
- The development strategy to achieve those goals.
You need to do work on both of these parts and ensure they come together with the right structure.
Seek professional advice, especially early on, to ensure you get the basics right.
I use a process broken into 7 Steps:
- Assessment – of the opportunity
- Strategy – for development
- Concept – work through the ideas
- Application – you will need a TPP/DA
- Detail – documentation to build
- Realise – sell, rent or a bit of both
This process works and helps make sure nothing is left to chance.
Best of luck with the project.