hello to all,
From what i have learnt so far you can gamble and buy an investment property by cost and return alone. or you can look at all the information, like average rent for the area, % of rentals in the area, growth in area, zoning ect ect. which is what i want to do! but here is the thing, i don't want to have to pay for the information and secondly where do you find that kind of information anyway. with out getting friendly with every real estate agent in the different towns and suburbs. I have been told RP data is a great place but you will have to pay for it. does anyway out there know where some one like me can find the information to make a strong investment.
thanks to anyone that can help.
Hey,
I posted questions before to get some opinions on investment groups. This kind of information is exactly what i have found out by looking into one of these groups.
They research the area, growth potential, rental estimates, whats going on in that area ect ect. I am not sure weather to trust these people or not though. I have heard nasty stories. The brief info i have looked into myself and what they have told me all marries up.
Maybe this will work for you as well.
Hi king you can goggle pretty much any suburb or city that you might be expecting to invest in, search council sites from time to time you'll get lucky and find future developments planned for the area- not to mention u can stumble across minutes of the meeting and media releases on future talk of development etc. What ive also done is check the local newpaper websites , and i found alot of info on future development not to mention the realestate info as well. If you want u can also read mags such as Australian Property Investor and other investor mags to help with reasearch tips not to mention rental yeilds and median prices.
RP Data has free samples of suburb profiles check them out there pretty helpful to. I have also checked with the latest census results – for demographics, employment and prefered housing etc. Hope that helps abit guys.Australian Property investor usually has tables of info, but historical trends are a little harder to come buy. If you can narrow down the suburbs that you want then you can buy the RP data. It's sort of helpful, probably more if the suburb is a dud than if it is good. That is, if you are buying somewhere with a proven track record, then the data will support that. If you are buying somewhere dodgy, then there may not be enough sales, the houses may be variable etc.
Try looking at Realestate.com.au in the sold properties section, you can also check out house rental costs on there. API costs about $8 per month, and is well worth it – if nothing else it keeps you motivated.
The RP data I would only buy if you have a specific house in a specific suburb in mind and want to check that you are not being ripped off on the price.
Good luck
I find that the Australian Bureau of Statistics has a lot of handy information…
http://www.abs.gov.auAlso, check with local council, state govt sites, public transport sites, etc.
It's also a handy to keep an eye on companies like Westfield, Stockland, Meriton, Laing and Rourke, Australand, to monitor their actions
i.e. the ramora fish feeds off the shark's kill.hi
im in the process of researching too here are some that helped me they are FREE
rpdata lets you do a free suburb report
http://www.homepriceguide.com.au give you auction results and recent sales
http://www.hotspotting.com.au for info state of market etc
http://renos.com.au/
Each local council website has a statistical portrait of areas – usually very informative
http://www.domain.com.au also does a suburb profilegood luck
hello to all,
thank you for the help, i have to admit that i never would of thought about following the big companies for the next boom area, or to search councils for approvals for developments so thank you for that and the web sites.
jason
For Victorian stuff, check out this site, u can zoom down to block size, lots of free stuff on there and reports if needed.
http://www.land.vic.gov.au/land/lcnlc2.nsf/Home+Page/Land+Channel~Home+Page?openKingB says
From what i have learnt so far you can gamble and buy an investment property by cost and return alone. or you can look at all the information, like average rent for the area, % of rentals in the area, growth in area, zoning ect ect. which is what i want to do!I probably would have advised trhat you employ a Buyers agent who would happily give all the information that you require and then some. Because they work at it every day they see many things that you will not find out till after the event – most news articles and research data is at least three months old and the opprotunity has passed.
But then I read your next statement and realised that like many others you want it handed to you on a plate.
but here is the thing, i don't want to have to pay for the information
Good luck in your endeavors.
Jon
King B,
There are alot of places to find your information as you have been advised. When you feel you have used this to target your area and find a potential purchase, you may then want to consider the more indepth reports that, yes you will have to pay for, like RP Data, Red Square or the like. I understand your reluctance to pay pay pay, but perhaps this is because you feel like you would need too many reports which would suggest you need to take the time to refine your area and strategy. It does take time and while there will always be the dumb luck stories of $100K made in a month, consider it worth the investment to pay for a detailed report and NOT buy a property than go it solo and be stuck with a lemon.
All the best,
TammyHi all,
Justin thank you for that site for i am looking at Vic very strongly and it will come in handy.
Jon it is not that i want it handed to me on a plate, it is that somewhere, someone has the information i want and does not charge for it. The fact that i want the information says that i dont want a property to be just handed to me, i want to go thru the information myself and make up my own mind on the investment and not just sit back and pay someone to tell me where to invest MY money. maybe i am just a control freak, but at the end of the day why pay someone to do something that i can do myself!!
Tammy, i think i will have to pay for RP data eventually but i do not want to limit myself to just one or two suburbs, do you know if RP data have a national or state report so that i can get all the spots, good and bad! Because i am still quite young and time is on my side, i want to know where the booms are but also where the busts are so i can go there and buy and wait for the boom to come back.
p.s. good news from me is that i am no longer a want-to-be property investor!, for i have negotiated and been accepted to buy a property for $88,000 that has a rental arrangement of $135/wk with an increase of $5 in 6mths. it may not be +ve geared but it is pretty dam good for my first one, and it only took me two days of searching Vic, SA, NSW and parts of Queensland and putting in about 20 offers.
now to go back to work and save for the next one, financial inderpendence and having a choose in life, here i come!
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