due diligence

Hi Elika,

A partial list from one of Margaret Lomas’ books you may find of use.
1. What is the cashflow?
2. What is the vacancy rate for the area?
3. What improvements are planned for the area?
4. What is the population growth like in the area?
5. Why do people live in the area?
6. Is the property ‘tenant friendly’?
7. Is there transport nearby?
8. What condition is it in?

I would also add questions about the price in comparison to other property in the area, the growth history and prospects for the future, its age (looking for depreciation), access to services and facilities and whether or not the property fits into your plans.

Derek
[email protected]

Property Investment Support Available. Ongoing and never stopping. PM welcome.

Hi Marisa,

I would ask some of the local long time shop keepers/business owners. They will be able to give you an indication of who many houses are empty if it is a ‘smallish town’ – they would also in all likelihhod be able to tell you about length of vacancies and the numbers fo rentals in the area.

You will probably find they may be able to tell you which of the locals have proeprties in town who may also provide you with the information based on their direct experience or at worst point you in the direction of the nearest, and most active, managing agent.

Derek
[email protected]

Property Investment Support Available. Ongoing and never stopping. PM welcome.