Hi all,
I was just wondering what others look for in potential investment properties?
What do you have in mind when considering a property on the market?
Regardless of your investment style be it buy and hold, wraps, lease options, renovations or flipping.
what i intend to do here is learn how other people 'walk into deals'. I would like to know more on what to look for.
I understand that each investment style has a different approach and you cant go about looking for property the same way every time. I know it truly depends on what your aiming for.
So please, for me and everyone else on this forum, share your success stories and how you found them.
I intend on fine tuning my 'eye for property' so that i can asses properties with as much accuracy and time efficiency as possible.
I am currently 'Time rich' and 'Money poor' so while i wait for my wallet to get in order id like to hone in on my skills as an investor.
The benefit to you:-
As i am in a financial struggle at the moment, id like to help others further their goals. How? well its a simple case of 'help me help you'. Not if, but when I find appropriate properties someone has to buy it right? It may as well be you guys
So if you would like to show me 'your' way of investing i would be glad to scout the market for you and present potential investments to add to your portfolio.
If anyone is interested or in other words 'Time poor' and Money Rich' please get in contact with me on [email protected] Id love to learn from you and make this profitable at both ends of the table.
Many thanks,
Eddie
If i were you, i would decide which investment style you want to follow (or a few of them) and learn about them. Say if you wanted to get into renos you could go to bunnings (or any hardware store) and learn about prices and products they have. They also run workshops for you to learn about different aspects of home renos.
You can then use this knowledge and apply it to a property you are looking at (in terms of what you could do with the kitchen etc and how much it would cost).
Research the market – that let's you see if you are picking up a bargain that you can reno and sell for a higher price (look at recent sales and what's on the market).
Research, research, research!Property investing is REAL simple ( no idea why people make it harder than it is )
Look for a property that will generate ( more rent ) than ( your interest payments in the house + 20% )
If you have a neighborhood where a 3 bedroom will rent for 200 per week, you want to spend 160 per week on interest repayments. The other 40 you will use for repairs and missed rental weeks.So , a house 'worth' 200 per week in rental returns should COST you :
160*52 = 8320 dollars per year interest.
At current rates ( add 2% interest rates increase on it ) = 11%
That means a house price of about 75.000 AUD$.At this point most people on this forum will say I'm a total idiot and have no idea what I'm talking about.
I give you the only way to invest safely. Whether you listen to me or others is up to you.Since there are no houses for 75000 that rent for 200$, you will have to wait till they drop in price, or till rents catch up with interest repayments. Seeing that economy isn't doing very well, and renters are up their ass in debt already, they won't have much money to pay more rents any time soon.
Conclusion : Don't get into housing now. The housing market is crashing, and it's crashing for a very good reason.
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