I’m in desperate search for an IP anwhere in Australia, preferably as cheap as possible (>50k), but just wanted to know that if I were to purchase a property in a regional area, how will if I have done the correct ground work?
Ground work in regards to population growth, rental history, vacancy rates, property prices etc?
I am continually searching the real estate sites for a bargain but living in Melbourne it’s a gamble to determine whether regional WA is a potential success story. Not necessarily WA, as I am searching in all areas, but WA seems the cheapest at the moment.
By the way, this website is brilliant, especially for the new investors like myself. Thanks for all the comments, you’ve really confirmed the impossible is possible after all.
Mr simba
sorry for the quick reply i have to run
Essential – call the property managers , ask how many vacant homes, how long are they vacant, why are they vacant. Ask there not to buy. and ask what is essential in a home ie airconditioner in WA.thats a start some eone else help out bye westan
I find +ve cashflow deals in New Zealand which I sell to other investors. To be on my database send an e-mail to [email protected]
mrsimba,
Also, local knowledge is supreme. So once you’ve found somewhere you like, you can do a check on here through the search engine (so you don’t have to blab about the place you wanna buy) and check out what other people have to say about it. If you looked up “geraldton” for example, you’d see heaps of posts about it- with lots of locals discussing prices, areas etc. Same on somersoft.com Forum- they have a location forum, and you can check out there, or just type the place name in and voila!
Or you could just ask in here “does anyone live in geraldton or around there or have any experience with IP’s there?” and people would gladly discuss it.
There’s no such thing as too much research. You can never know enough in this game.
kay henry
Hi Mrssimba,
I believe that there is no such thing as a ‘perfect property’ but there is property that meets your key (non-negotiable) needs.
As such you need to identify the questions you want answers to and when you get the answers you need – you then have a property that suits you.
At the end of the day proeprty is not a risk free investment strategy – the issue revolves around you finding a property where the risks are minimised for you.
Derek
[email protected]Property Investment Support Available. Ongoing and never stopping. PM welcome.
Apologies, I meant <50k IPs
thank you for all your responses, much appreciated.
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