ByJohnSageMelbourne
Therearecoupleofthingsmorevitalthantheareaofyourinvestmentproperty—somewouldsaythere‘snothingmorecrucial.Seemslikeaeasyprinciple,howeverhowexactlydoyourecognizewherethefantasticplacesaretopurchase?
Let‘sgothroughsomethingsyouneedtothinkabout.
Familiarmarkets–Considerbuyinganinvestmentpropertyinanlocationyourecognizewithasitwilltakeyoulesstimetoresearch.Inspectcurrentpriceintheareatoofferyouanideaofwhatyoucananticipatetospendforlocalhomes.
FollowJohnSageMelbourneformoreprofessionalpropertyinvestmentadvice.
Growthsuburbanareas–Lookforareaswherehighgrowthisexpected,wherethereiscapacityforcapitalgains.
Rentalyield–Lookforareaswhererentsarehighcomparedtothepropertyworth.
Lowjobrates–Discoveroutaboutthevacancyratesintheneighbourhood.Ahighjobratemayindicatealesspreferablearea,whichmightmakeitmoredifficulttoleasethepropertyout,orofferitinthefuture.
Planning–Discoveroutaboutproposedchangesinthesuburbanareathatmightimpactfuturepropertyrates.Thingsfreshdevelopmentsorzoningmodificationscanaffectthefuturevalueofaproperty.
Conclusion
Onelastthingtosayistobeclientandwaitontherightproperty.Don’tgetimpatientandbecomestrainedwithanunprofitableproperty!
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