There is a saying that real estate, is slow to forgive and investing in bad property deals can take a long time to recover from.
It is much better to have no deal at all than a bad deal.
Here are some tips from our property strategist partners, to help you avoid some of these more risky investments:
· Avoid
properties with bad lay-outs, they are harder to sell
· Don’t
buy a property without a bath- you won’t be able to market the property to
families
· Beware
of garage conversions- they are not always done well and will not sell well in
areas where garages are desirable.
· Avoid
properties that are backing up to something negative and undesirable like power
lines, mobile towers, strip clubs, train tracks etc
· Properties
with structural issues- Never close on a property without engaging a structural
engineer –especially if the property is on an incline.
· Don’t
buy the biggest property on the street. It will be harder to sell. The bigger
you go- price per square foot goes down. Remember it’s all about location
· Always
make sure you have the data on a property to back up your decision to invest.
NEVER buy a property based on the emotional response it may trigger.
· Don’t
buy a one bedroom/1 bathroom house. They are very hard to rent out. You will be
eliminating a huge part of the market.
· Trust
your gut- it if feels bad, it’s probably a bad deal.
At RealRenta, we make it our
business to work with Australia’s premier property developers and, in doing so,
are able to help you identify, understand and assess the potential capital
growth, rental return and tax benefits of your next investment.
We’re focused on getting you
priority access to developments in Australia’s fastest-growing suburbs. We
currently have an extensive selection of new projects, house & land
packages, townhouses,developer specials, one off price reductions and rebated
stock.
Speak with us today for the
latest offerings. If you are looking to invest in property, or have clients
looking to invest in property.
We can help find great returns
and growth across Australia, contact us for a chat today: propertysales@realrenta.com
Need a property loan?
Contact us @
propertyloans@realrenta.com
Marlene Liontis
Thursday, 31 October 2019
