Property research
Sound research and thorough due diligence is essential when purchasing
residential real estate.
A plan and strategy
There is risk and reward and it is important that you consult your
Property Advisor, Financial Advisor,
Accountant, Legal Advisor or otherwise prior to commencing any research
or buying a property.
Consider whether the purchase of any property is suited to your
individual circumstances and how this fits in with your overall plan, strategy
and property portfolio.
It is always good to have developed a
written plan and strategies before you start.
Due diligence and questions
Here are some common questions we look at as buyers:
1.What type of property we wanted to buy? – Holiday rental
2.House or Strata (Apartment/Unit/Townhouse etc) -What land size?
3.Budget for purchase price, stamp duty and other purchase costs?
4.Historical price growth rates?
5.Rental income required? and how best to promote the property?
6.Rental income growth rates?
7.How to select and manage tenants?
8.Economic drivers of price and rental growth?
9.Accurate sales data for comparative sales data analysis?
10.Local Government Authority statistics and data?
11.State Government Authority statistics and data?
12.Due diligence questions and checklist?
13.How to obtain information from the Listing Agent?
14.How to obtain independant information about the property?
15.Looking at the property objectively and crunching the numbers?
16.Finance options? - we wanted
to be a standalone with its own mortage
We found the link below very
useful. http://www.australian-real-estate.net.au/investing/research-the-australian-property-market/surveying-and-subdivision-specialists/
- http://www.rpdata.com/
