ByJohnSageMelbourne

Therearecoupleofthingsmoreimportantthanthelocationofyourinvestmentproperty—somewouldsaythere‘sabsolutelynothingmorecrucial.Appearslikeabasicprinciple,buthowexactlydoyouidentifywheretheterrificlocationsaretopurchase?

Let‘sgothroughsomethingsyouneedtoconsider.

Familiarmarkets–Considerpurchasinganinvestmentpropertyinanareayouarefamiliarwithasitwilltakeyoulesstimetoresearch.Examinerecentpriceintheareatoofferyouanconceptofwhatyoucanexpecttospendforregionalproperties.

FollowJohnSageMelbourneformoreexpertpropertyinvestmentrecommendations.

Developmentsuburbs–Searchforlocationswherehighdevelopmentisanticipated,wherethereispotentialforcapitalgains.
Rentalyield–Searchforareaswhereleasarehighcomparedtothepropertyvalue.

Lowvacancyrates–Discoverthevacancyratesintheneighbourhood.Ahighjobratemightindicatealessdesirablearea,whichmightmakeitmoredifficulttoleasethepropertyout,orsellitinthefuture.
Preparation–Discoverproposedchangesinthesuburbthatmayimpactfuturepropertyrates.Thingslikenewadvancementsorzoningchangescanimpactthefutureworthofaproperty.

Conclusion
Onelastthingtosayistobepatientandwaitfortherightproperty.Don’tgetimpatientandbecomeburdenedwithanunprofitableproperty!
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