9 Tips For Buying An Investment Property
7 Mistakes Property Investors MUST Avoid
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Transcript of Video
It is always a good time to purchase property, provided you know what to look for and today
I would like to share the first 4 of our 9 tips to consider before buying an investment property.
In addition we will provide you with an opportunity to register for your free 50 Must Know Property Investing Tips, which is a "MUST READ" for all Property Investors
My name is Darryl Simms from Latte Property & i would like to welcome you for Part 1 of "9 tips for buying an investment property"
Tip number 1. Is to make sure you choose the right location
Many first time investors focus on the suburb they live in and they could have achieved much higher rental returns and/or higher capital growth if they had looked at other suburbs and or other States.
Areas within 2 to 10 kilometres from the CBD inner city will usually deliver much higher capital growth and attract high quality young professionals as tenants.
It is also important to ensure that your investment property is close to public transport and offers great amenities for tenants.
Tip 2. The right amenities are essential if you want to maximize your returns and attract quality tenants.
Cafes, restaurants, retail strips and shopping centres can be attractive amenities if your property is within easy walking distance.
This also applies for schools, hospitals, parks and train stations.
Note that being too close to amenities can have a negative impact on your rental property due to noise and traffic issues.
Tip 3. When buying new, buy off the plan
Buying off the plan gives buyers time to research a development plus the suburb and learn more about it as a potential investment.
Make sure you check out the credentials of the developer, architect and builder along with their track record on previous projects.
Also in some States, buying off the plan can offer massive stamp duty savings.
Tip 4. Avoid areas of oversupply
When looking for a potential investment property, always consider local factors that could impact on your rental and/or capital growth, either in a positive or a negative sense.
Check to see if there are many similar properties nearby.
Also look to see if there are properties about to come onto the market that could cause a glut and drive the price of your property or rental returns down.
You should avoid buying in an area that is currently oversupplied or will be oversupplied in the near future.
That's it for part 1, make sure you check out Part 2 for the final 5 tips in our "9 tips for buying an investment property"
Remember to register for your free 50 Must Know Property Investing Tips, via the link below
thanks for watching & I look forward to seeing you inside our next video
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