Real estate can be quite an emotional asset class as
opposed to shares and often, investors make decisions which are emotionally
driven.
A better strategy is to approach property investment like a property valuer-
more facts and less feeling.
Property Valuers are not clouded by emotion or sentiment.
Here are some tips from RealRenta
to help you stay objective:
•Research the market and use hard
facts only, not sentiments
•Research the sales/rental
history of the property
•Use Google Maps to calculate how
close property is to amenities
•Search for titles, plans and any
applications to council
•Ask the council if any nearby
developments are in the works
•Attend auctions, speak to
neighbours, estate agents and local businesses about the area
•Take stock of what is included
in the sale and what is not (ie furniture, fixtures etc)
•Turn on taps and switches to
make sure they all work
•Make note of the visible flaws
•Review the access and street
appeal
•Take note of the condition of
fencing, pools and outbuildings
•Note the slope of the block and
any items that may require future maintenance
•Compare similar properties and
what they have sold for and how long they were on the market
•Is the property on a busy main
road or backs onto parkland?
•Keep your heart out of it and
treat this like a business
•Consider what the current median
is in the suburb and what the prospects for future growth are like
•Consider engaging a buyer’s
agent who has a mission to help you locate a high-quality growth asset
Find out why RealRenta is
disrupting the Real Estate industry with our Self Management platform.
RealRenta is for Smart Investors,
who realise that they are no longer bound to traditional property management
and the associated high fees.
Use RealRenta instead and
get your rental income paid directly into your Bank Account.
Not yet a
subscriber? Join now and get 50% off the normal subscription fees:
https://mailchi.mp/realrenta/50-deal-2020
Jason Gwerder
Thursday, 11 June 2020
