All Topics / Help Needed! / Investing Strategy
Hi All,
I’m in a position (finally) to start my property investing journey.
I was wondering what’s the best way to narrow down a location to start looking? Can anyone suggest some resources or articles that might help?
I realise that asking “where is the best place to invest?” is a dumb question, I’m just looking for information / resources that will help me narrow down my search to some places that will suit me and my goals.
Cheers!
Joel.Joel0430 wrote:Hi All,I’m in a position (finally) to start my property investing journey.
I was wondering what’s the best way to narrow down a location to start looking? Can anyone suggest some resources or articles that might help?
I realise that asking “where is the best place to invest?” is a dumb question, I’m just looking for information / resources that will help me narrow down my search to some places that will suit me and my goals.
Cheers!
Joel.Hi Joel
Begin by looking locally in your area due to familiarity. Then you can start working outwards from there. Start engaging people from the industry such as local buyers agents, real estate agents, etc as they are a good and often free source of very valuable information. Then start looking at your long term strategy. Capital growth? Strong rental yields? Units vs Houses? You need to map out a few scenarios to give you an idea of repayments, negative gearing vs positive gearing, etc. Go to as many open houses and auctions as you can. You will get a great idea of the number of people inspection a particular type of property, demand, etc.
Which state/city are you in?
Shahin Afarin – Elite Property Finance
http://elitepropertyfinance.wordpress.comTheFinanceShop | Elite Property Finance
http://www.elitepropertyfinance.com
Email Me | Phone MeResidential and Commercial Brokerage
G’day Joel,
Shahin, is correct in making his comments but can I make another suggestion. Start when you can afford to invest and always keep in the back of your mind that you are Investing. When you know where you are able to invest dollar wise, from there start to become an area expert and speak to people in that area visit the area, I could go on and on but I’m sure you get the picture. Enjoy the ride it can be fantastic.
Gerrard.Shahin, I am based in Sydney.
Do you have a few areas in mind and what is your price range?
Shahin Afarin – Elite Property Finance
http://elitepropertyfinance.wordpress.comTheFinanceShop | Elite Property Finance
http://www.elitepropertyfinance.com
Email Me | Phone MeResidential and Commercial Brokerage
Hi Joel
Not sure if it helps but we've got quite a few links on our website that you might find useful – http://passgo.com.au/property-data-websites.html
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
There is only one solution which helps you narrow down in searching a good location for buying. You just need to contact an experienced real estate agent. He may suggest you better place according to your requirements which will suit you.
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Joel0430 wrote:Hi All, I'm in a position (finally) to start my property investing journey. I was wondering what's the best way to narrow down a location to start looking? Can anyone suggest some resources or articles that might help? I realise that asking "where is the best place to invest?" is a dumb question, I'm just looking for information / resources that will help me narrow down my search to some places that will suit me and my goals. Cheers! Joel.Joel but what are your goals?
cashflow? capital growth? negative gear? what else?
Since you're starting, it's good to be clear about what you specifically want from your properties, and this will help you narrow down which areas suit your goals.
Hi Joel, some great advice already.
I think you need to look at some numbers first (I'm a number cruncher).
How much can you borrow? How much deposit do you have? Look in a few areas that you can afford. Look at the yield and work out how much you are out of pocket each week (can you afford that?).
This will narrow down where you can afford to buy. Then the research begins into areas.
As others said you need to have an end goal and a strategy that suits you. This doesn't need to be set in concrete. Strategies change as we grow. But without having a strategy you'll just go round in circles.
Are you open to regional? or do you prefer Sydney? What areas have you looked at so far? Western Sydney is taking off but still has some great opportunities. There is CG and great yield.
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