I am curious that how many people would buy a property in some other cities.
Well, I did purchase an apartment in Brisbane and I though it should be worthwhile but some people warned me that there would be risks. I wonder what those risks are. Is it because many people do not trust in agents?
And I also want to know some experiences from those who have invested in properties in other cities. What makes you decide to purchase your properties? Is it because you trust in the one who recommend the properties or trust in the builder?
Anyway, I just need to know more opinions about investing in properties that are far away from you as I am getting confused.If someone is making a commission and they are agents or marketeers and the property is in Australia why would you not spend a few $100 bucks to fly there and see where the property is? To me this is basic due diligence. Now you can look at photos and sales in the area and thats what you would do to start with. However photos may not show the car bodies in the house across the road or the brothel next door or even the overall neighborhood.
The only real way to get a solid feel or the area is to drive their and go through all the side streets around the property.
Nigel Kibel | Property Know How
http://propertyknowhow.com.au
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A lot of clients buy sight unseen interstate – generally they will get a building and pest + get the initial inspection completed by a property manager who can take photos of any hidden issues etc.
I’ve bought properties locally that I haven’t even inspected – depends what you’re really looking for as an investment.
Corey Batt | Precision Funding
http://www.precisionfunding.com.au
Email Me | Phone MeInvestment Focused Finance Strategist - servicing Australia-wide
Thank you for your reply.
Sorry that I did not make it clear. I bought that property from a sales agent as I found the location wonderful and the price affordable. Of course it was the sales agent who recommend the property for me but in that case, the agent earns commission from the vendor and I did not need to pay more.
So you mean you will not easily buy properties unless you make an inspection?
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