Buying an Investment Property for you… We have quite a number of good investment clients who’ve come along initially without any real understanding of what constitute a good investment property. In some cases they’re not really sure about the key characteristics of a good investment property and their initial strategies need a bit of an overhaul. As an active buyer’s agency, we have great experience, purchasing literally 1,000’s of investment properties for our clients, since the early 1990’s. Our clients have continued to rely on our expertise for acquisition of their whole portfolio, over the years. There are many components to making right the decision of what constitutes a good investment property. The property that will minimise your vacancies and maximise your rent and contribute to the increasing value of your portfolio. One that will ensure prospective tenants are queuing up to lease your property, is highly appealing to other investors and to owner occupiers who might want to purchase it from you, given half a chance? Here are our top tips: 1. Where it is and what’s nearby (the Location)? 2. Where to park your car (is it off-street &secure)? 3. How secure will your tenants feel (do they feel safe at home)? 4. What does it look like from the street (first impressions)? 5. Is it light and bright (it’s position on the planet)? 6. Looking out the window (the local aspect and surrounds)? 7. Is it liveable (how big is it)? 8. Who might want to live there (is it what local people generally live in)? 9. Internal features and amenities (what internally might attract tenants)? 10. Value add (manufacture your capital growth)! 11. Is there a front and back yard (it’s about the value of the land) 12. Buy “wholesale” not “retail” (pardon) Melbourne’s rental market is easing. Rents are softening generally, and the rental vacancy rate has increased by over 40% . Yields will also come under pressure as the sales market continues to gain strength (as is happening now in certain sectors). AND 25,000 new properties are set to hit the market in the next year. Your investment property strategies will come under some pressure. Buying the right quality investment property, especially in this environment, where there’s no room to make mistakes, is all about following a blueprint that all the most successful investors follow. To reduce your chances of investing in an “ordinary” investment that might not grow in value, that might not attract the right tenants and that might not give the expected ROI, get educated about the potential risks/disadvantages involved. OR, use a professional or agent “on your side” to get you the best deal. If you follow our proven strategic processes, you can be sure that you’ll be a step ahead of the rest and on the way to achieving your wealth creation goals. WATCH OUT FOR MORE TO COME AT A LATER DATE … SMSFinvestmentinstitute.au
Posted on: Fri, 18 Oct 2013 06:49:53 +0000
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