There will be a large number of apartments coming onto the market soon with a large percentage of mortgagee and distressed sales.
How do you pick the best ones and what should investors be considering when researching the market?
Here are some tips from some of our most successful RealRenta Landlords:
• Avoid the under-engineered apartments
• Research the builder, quality of their work and fixtures and fittings
• Only buy apartments in high income demographics
• Look at the capital growth history of the area and the what the future projections are
• Look at proximity to CBD, beach, amenities, transport and access to freeway
• Look at the schools in the area and their credentials and ratings
• Look at vacancy rates and the rental demand in the area and if there are other developments in the same area
• Look at the local councils’ plan for the area in terms of infrastructure and housing developments
• Check with your bank - some postcodes are blacklisted for lending for apartments
• Focus on areas where there is a higher ratio of detached houses to apartments
• Compare the cost per square meter compared to what else is selling in the area
• Consider the size, number of bedrooms, floor-plan and demand for that type of property in the area
• Make sure the apartment has at least 1 car park
• Must have a balcony or terrace area and a study nook and lots of natural light will be a big advantage
• Self manage the property with RealRenta and get your rental income paid directly to you AND save thousands on management fees
If you need to access financing, contact propertyloans@realrenta.com and we will arrange for a mobile lending specialist to call you for a face to face discussion.
Want access to off-market properties? Contact Marlene Liontis on +61 417 693 547 or email propertysales@realrenta.com.
Marlene Liontis and Jason Gwerder
Sunday, 7 October 2018
