HI,
Looking for a basic checklist to make sure investment property meets all the criteria for a good investment?
Thanks
ChrisChris Paterson
its probably worth spending a little bit of money and buying a useful book or CD of Steve’s. Don;t know if theres one for free…[confused2]
“If You never never ask, you’ll never never know”
Hows it going?
work your way through all these questions and answers on the help needed and general sections and you will be able to compile an excellent checklist of whet you need in an investment property… with loads of peole posting one good idea or criteria from each person, you’ll have to disregard some check pints that you feel are not so important…good luck
Hi Chris,
somethings to ask or look out for:
– age of property
– town size (population)
– crime rate of that town
– surrounding schools, shops, transport
– incline or decline of population over x years
– percentage of tenants against percentage of PPOR for that town or suburb
– quality of tenants (do they take care of the property and do they pay their rent on time)
– Council proposals
– quality of property – maintenance issues (mostly done with a building inspection)
– the return of the investment versus expenses (maintenance, solicitor fees, bank fees, interest) and risk (vacant property = no rental income).The way I see it is calculate your returns from the investment, then calculate your risks and expenses and if your returns outweighs the risks and expenses, then I see it as a good investment.
Hope this helps
Kind Regards,
George.“If You never never ask, you’ll never never know”
I just received my copy of Buyer Beware and I can say that it is excellent and is probably exactly what you are after.
Cheers
What sort of content did it have Dram?
Regards,
SiWell, it contains 5 of Steve’s templates. For me the most impressive and helpful are the financial analysis and the property analysis.
The financial analysis runs you through all the numbers and helps you find out all the costs involved with the proposed purchase. It gives you a final figure….Cash on Cash return that helps you decide if the investment is financially viable.
The propery analysis is like a tick-and-flick sheet which highlights what you should be looking for when conducting an inspection.
The package comes with a workbook and two CD’s, one data with the templates and the other audio. The audio CD is Steve talking through the templates and how to use them….and refers to a number of case studies in the workbook to help you learn how to use them.
As I have only just received the package I have yet to ‘use it in anger’ but will head out this weekend and look at the local open houses to get some practice.
Hope this helps….seems well worth the money.
Cheers.
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