On path to in­vest­ment

The Weekend Post - Real Estate - - Cover Story - Advertisement - PETER KOULI­ZOS Peter Kouli­zos, prop­erty lec­turer and au­thor – www.the­p­rop­er­typro­fes-sor.com.au

THE de­ci­sion to in­vest has been made and the fi­nance is in place. Now what?

Ac­tu­ally find­ing an in­vest­ment prop­erty is the next step and while it may seem ob­vi­ous, a lot of soon-to-be in­vestors may not ac­tu­ally know where to look.

Firstly, keep an eye out for “For Sale” signs in the sub­urbs that you have de­cided you would like to in­vest in.

Look­ing through sub­urbs that you’re in­ter­ested also helps in find­ing prop­erty that peo­ple are sell­ing them­selves, with­out the use of a sell­ing agent.

If driv­ing through the sub­urbs doesn’t turn up any leads, try a more di­rect ap­proach.

Con­tact lo­cal real es­tate agents and ask if they have any­thing that suits your cri­te­ria.

If there is a po­ten­tial sale and com­mis­sion in­volved, they should be very help­ful.

An­other re­search tool that most are very com­fort­able with is the in­ter­net.

Sites like realestate.com.au al­low the in­vestor to fil­ter for the lo­ca­tion, price and type of prop- erty. This makes for ef­fi­cient and very easy prop­erty hunt­ing.

Th­ese sites will pro­vide images of the prop­erty, di­men­sions, floor plans, sub­urb data and agent de­tails.

Also give sites like the Na­tional Mort­gage and De­ceased Est a te Data ( www. nm­data.com.au) web­site and the Public Trustee a go.

Th­ese web­sites can be a use­ful tool for find­ing po­ten­tially un­der­val­ued in­vest­ment prop­erty due to the na­ture of their sell­ing cir­cum­stances.

The real es­tate sec­tions of the news­pa­per can be very use­ful places to seek prop­erty for sale, es­pe­cially look­ing through the free lo­cal pa­per that you find on your front lawn ev­ery week.

The above are all quite pas­sive strate­gies.

If you are re­ally keen, you may want to be more proac­tive.

Take the house hunt­ing one step fur­ther and ap­proach own­ers of prop­er­ties that you have deemed to have ex­cel­lent in­vest­ment po­ten­tial.

The cur­rent own­ers may or may not be in­ter­ested but you hav­ing noth­ing to lose; only a po­ten­tial in­vest­ment to gain.

If you feel un­com­fort­able knock­ing on doors, leave a let­ter in the mail­box with your con­tact de­tails; then the ball is in their court.

If you are ready to in­vest and just need to find the right prop­erty, em­ploy as many re­sources as pos­si­ble to find what you want.

It may be time con­sum­ing and cost you some money but buy­ing an in­vest­ment prop­erty is not a de­ci­sion to be taken lightly; proper re­search and com­mit­ment to look­ing for the right in­vest­ment mit­i­gates the po­ten­tial for poor in­vest­ment de­ci­sions.

Happy house hunt­ing.

Pic­ture: THINKSTOCK

HAPPY HUNT­ING: There are many fac­tors to con­sider when pur­chas­ing an in­vest­ment prop­erty and many ways to find the right prop­erty for you.

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