Hi everyone,
I am super keen to find some properties. I live in Sydney and dont believe there are opportunities to be had here. So I search the internet and make phonecalls. All potentials are out once I do my due diligence. I am stuck at home with a young family and that wont change for a while yet!
Has anyone had any luck finding deals from home? I will be making a fly by to Brisbane in a couple of weeks and hoping to get something then.
Cheers
CarolineI own three IPs that I have never seen with my own eyes. I bought two that I saw on the internet and another one through a buyers agent.
It can be done without having to visit the property yourself and now I actually prefer to do it this way. I use a stack of online resources to research potential properties and I have a good network of professional building and pest inspectors etc that do much of the due diligence work. I just have to read the reports, look at the maps and photos, make a few phonecalls to Council and some RE agents then make a decision on purchase. You will find links to many of the online resources I use on my website.
I wouldn’t recommend doing it this way for your first IP purchase but I have proven 3x times that the ‘research from home’ strategy can work.
The other way to do it is just pay a buyers agent to do the hard yards and find you something suitable.
Todd Burns
http://www.freepropertyhelp.com.auI agree with Todd. I’m onto my third property, all bought sight unseen whilst sitting here in front of my PC in Malaysia.
As Lomas said, you can find out a lot about an area (some times more so than a local); rental demand, local economy, council policies, demographics, etc.
Having said that, I strongly believe in getting “an eye on the ground”. This is to weed out things that cannot be seen from the online pictures (eg undesirable neighbours, quality of the street & surrounding areas, and local opinions/ local knowledge). Since I focus on a particular area (or two),I have established relationships with one or two PM from that area. He/she will help me check out the potential properties for me.
I’ve now taken the next plunge; to do renovation/minor development (build/relocate a house onto a block) all the way from here.
All the best
Albert
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