All Topics / The Treasure Chest / A lesson in testing demand

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  • Profile photo of Steve McKnightSteve McKnight
    Keymaster
    @stevemcknight
    Join Date: 2001
    Post Count: 1,763

    Hi,

    While holidaying up here in Mackay I was having a discussion with a friend about there being more to property investing than just buying bricks and sticks.

    I said something to him which I just assumed was commonsense, but he found it to be a good insight so I thought I would share it here too.

    I believe that the more information you have before investing then the better quality of investment that you’re likely to acquire.

    For example, sometimes it’s confusing knowing what type of property to buy that will immediately attract a quality tenant.

    Fortunately there’s a simple tool that will reveal much in this important area.

    Just go into a real estate agent’s office and pick up the rental list for the area. Scan it for a few minutes and look at the number and type of properties available for rent.

    If there is a shortgage of 3Br homes then just ask “why are there so few 3Br homes.”

    If the answer is they get snapped up quick then that speaks volumes for the type of property you should buy to mitigate the risk of long-term vacancies.

    Sometimes the most simple of tricks are the most effective.

    Regards,

    Steve McKnight

    **********
    Remember that success comes from doing things differently.
    **********

    Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
    https://www.propertyinvesting.com

    Success comes from doing things differently

    Profile photo of jassepjassep
    Member
    @jassep
    Join Date: 1969
    Post Count: 40

    WOW! Awesome! This and the 11-Sec solution are great tools…I love this kind of ‘Rule of Thumb’ analysis – saves HOURS! ;o)

    Happy New Year!

    Jason S

    Profile photo of SooshieSooshie
    Member
    @sooshie
    Join Date: 2002
    Post Count: 974

    Hi Steve,

    Just like going into a shoe shop on a sale day and asking for size 7.5 shoe and finding that they’re all sold out. Law of averages!

    Cheers

    Sooshie

    There are no problems, only solutions!

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