Selection criteria/assessment for IPs

[fredo]

I have been putting together a balanced scorecare to evaluate IPs The criteria looks at location to transport, location to shops, car space, location of unit in block, yield, gut feel etc etc

There are about 10n areas which are rated eg out of 10
1 kilometer to shops gets 3
500m to shops gets 5
300m to shops gets 7
Like wise car space 3, carport 5 lockup 7

I would be interested in compiling something that would be usefull as a check list may be some one has already done one and would like to share

regards fredo

 

[Sunstone]

Dear Fredo,

Suggest that you have a look at my checklist if you have not already done so.

http://www.somersoft.com/forums/showthread.php?s=&threadid=169

With a scorecard you will find that this is not practical. If you spend all of your time scoring each part on an IP you spend more time working out a grading system then actually looking at IP's.

Simply use a checklist on the property, run the figures and based on your own gut feel decide if it meet's your investing criteria.

Cheers,

Sunstone.

 

[lawsjs]

You like it, you buy it, if you can justify the pruchase price its even better!


Its not a question of which property you buy, its just BUY property!

 

[D.T.]

A score based system would be a lot less efficient than Sunstone's method. This is because there are so many different types of ppl.
For example, a 1 bedroom unit for a 80 year old lady doesnt require a lockup car garage. Likewise a pair of male uni students probably don't care about the medical centre x Metres away.