01 May Property Research Done Properly
Researching properties, regardless of whether it’s your first time, or an addition to your established portfolio can be intimidating. The most common avenue is the Internet where experts, bloggers and gurus give their take on upcoming suburbs, key opportunities that other people have missed and techniques that have been overlooked.
this excessive amount of information can cause more of a problem than it solves, as contradictory articles and advice make for frustrating research. So where to begin?
Our attitude to research is to start with the numbers and work your way back. Begin with average sales, number of sales in the area and then move on to more esoteric areas, such as demographics and potential hot button such as local amenities. In this way, you are conducting research based on facts primarily, and then prioritising what’s important, rather than buying into someone else’s version of what matters.
Real estate and investment advice, is useful if specific to a certain area, property or specific strategy. Be careful not to be seduced by overarching promises of outcomes – if the expert is selling concept rather than something more solid, move on to the next stage of your research.
Begin with the numbers, and work your way back, and your research – while boring – will likely yield far better results than choosing something more generalist.