There is certainly no science in finding an investment property, or none that as yet has been discovered.
There are, however, some solid rules of thumb that by checking as many off as possible, you will have a excellent strategy and reduce as many of the risks as possible.
Here are Marquette Turner’s Top 10 Tips.
1. Located in an area where there is a positive population growth.
2. There is an abundance of employment opportunities within the area.
3. There’s enough infrastructure developments (current or planned) to support the needs of the community such as transportation facilities and schools.
4. High rental demand.
5. There is only a limited supply of properties in the area, to ensure that the demand remains strong.
6. The suburb has an evident history of strong capital growth.
7. Purchase a property within the median price range. It will be easier to sell and rent out.
8. Located in a pleasing and safe environment.
9. Choose a low‐maintenance property. Ensure that the property you’re buying is well‐built and free from defects.
10. Check the availability of shopping centres, parks, nearby beach, sport facilities and other amenities that will make the area attractive to other potential buyers and tenants.
Why not download our handy PDF version to keep as a reference?