Due Dilligence. Information and inquiries

Jack

I am not so sure about statistical websites- dunno. I guess you could pay for ABS stuff, but generally, you can find all the stuff you need just by roaming around the web. These are some of the checks I do. Say I was looking at Bourke, in NSW, and I wanted to find out about it. I would go to http://www.google.com.au and type in “bourke nsw” as keywords. So I would read everything possible I could about the town. The articles should lead me to other links, but if they didn’t, i would type in the following keywords:

“Bourke council plan”
“Bourke employment” or perhaps “unemployment”
“Bourke population” and perhaps add “decline” or “growth”
“Bourke crime” or “social problems”
“Bourke industry”
“Bourke floods”
“Bourke median house price”
“Bourke tenancy vacancies”

Really, i just use google.com.au as my search engine for everything. That makes up most of my due diligence. Council plans will only discuss future plans, so if something is included in the local council plan, then it is not hearsay- you can take it as fact. Pretty much every aspect of every town is now on the net. Make google your friend I also make sure I keep up to date with trends etc, from API mag, but API tends to focus more on growth properties- so you probably won;t find much on rural areas (except for the case study stories on investors). It does have median prices for every area in Australia though, and somtimes is fun to find and circle the places all over australia that have median prices of about 40k

Best of luck with it Jack- really, you don’t much have to get out of your chair these days to find out pretty much all you can about a town. Inquiries about an individual property, of course, has its own set of “must-do’s”

kay henry

Mister Jack

API = Australian Property Investor. It’s the best mag under the sun, I reckon [cap] It comes out each 2 months (the last one was april/may edition), and it costs about $8. I have hear a fabby rumour that it might be coming out monthly soon? That would be good

Ask your local newsagent to get one in for you if they don’t stock it. Check out http://www.apimagazine.com.au/ for what’s in the current edition

kay henry

Canberra, cold, planned, antiseptic. Great to invest if wanting negative cashflow. HMMMMM Canberra!!

DD

Don’t sweat the small stuff,and it’s all small stuff!!

Hi Mel

Help a newbie out, pretty please. What does OTP mean?

Cheers

Greg