What are the 10 top things you need to know to buy an investment property?
Here are the things that give you a good flow of revenue, and hopefully show plenty of capital growth by the time you want to sell….
- Make sure you do your research
- Don’t just look at the likely rental returns
- Another key is to buy near public transport
- Buy something close to the area’s median price for that type of property
- If you are looking at new apartments, it’s important to research both the developer and the builder and see what other projects they’ve done.
- If you’re buying in an existing building, look for apartments with a nice aspect and parking in a smaller block are popular
- Check out sources of likely tenants in the area
- Historically, areas close to the CBD have always delivered strong returns
- Don’t immediately hone in on an apartment with cheap strata levies
- And never become emotionally attached to a property you’re thinking of buying as an investment
The full article has more information: Domain