Hi I’m Deanna and am ready to invest. I’ve been looking for a while in Victoria ( where I live) but have not found anything that meets with the 11 second guide. I have identified a couple of opportunites that meet all the requirements of a good investment but if I buy them it will be sight unseen – am I doing the right thing. I’ll get a building inspection of course.
Hi Deanna,
If you are goign to buy sight unseen then you will need to ensure you do complete building and pest inspections as a pre-requisite.
I would also talk to the local council to see what is happening in the area, a few of the local businesses and search the Vic Ed Department website to see what is happening with enrolment numbers in the local school/s and a search of DOLA (Vic equivalent) to see what some of the sales history in the area have been like. All of this can be done from ‘home’.
I would also argue that given this is your first property – for your own peace of mind – you should go and visit the potential places. You have already done some short listing and as such you are in a position to maximise your time away. I would also contend that there is more to selecting a ‘good property’ than just the 11 sec rule – there are a number of other important fundamentals to consider – employment, populations changes, infrastructure in the area, proposed infrastructure, economic resiliency, distance from large centres, access to transport and so on.
Derek
[email protected]Property Investment Support Available. Ongoing and never stopping. PM welcome.
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