Hi all,
I was hoping I could get some pointers to kick-start me into deciding where to look for my 1st IP in Brisbane. I'm thinking that what I'd like to somehow get access is is the following:
METICS FOR JUDGING A GOOD RENTAL PROPERTY
1. Yield - This seems to be popular. Is this the best metric to use / look for in magazines reports etc? Also what typical targets does an average investor use (e.g. 5% for yield?)
2. Other metrics that I should look for, say if I in reports that list figures per Suburb?
PROPERTY VALUE/PRICE INFORMATION
3. Graphs/Tables of average house/unit prices IN THE PAST (e.g. for the last 5 years) per Suburb? Where/how to get? Can I get this info for free? (e.g. particular magazines, publications) [My thinking is to use this to identify areas that have already appreciated ahead of other areas. In other words to help point out areas that are lagging in their appreciation relatively speaking]
4. Future Projections (Graphs/Tables) of average house/unit prices per Suburb (or for a limited set of Suburbs)? Where/how to get? Can I get this info for free?
RENTAL INFORMATION
5. Graphs/Tables of average house/unit rental prices IN THE PAST per Suburb? Where/how to get? Can I get this info for free?
6. Rental vacancy rates, to get feel for how easy/difficult it would be to re-rent? I guess one only needs a current snapshot for this item, no need for history?
INFRA-STRUCTURE IMPACTS
7. How to identify whether particular suburbs have upcoming infra-structure investments, local government initiatives that would be a positive
RENT AS IS versus RENOVATE
8. I'm not sure if there are any stat's for this item, but is there a general rule of thumb re what is best here. For example if one had the personal time to arrange renovation tasks (monitor things), can you generally do better if you buy a place that costs say $20k less and then use this money to renovate? Or is this one of these "well it depends" type scenarios?
I think these are the main things I need pointers on. Everything else I'm hoping is more straight forward, i.e. actually buying, shopping around for a good loan, etc.
Regards
Greg
I was hoping I could get some pointers to kick-start me into deciding where to look for my 1st IP in Brisbane. I'm thinking that what I'd like to somehow get access is is the following:
METICS FOR JUDGING A GOOD RENTAL PROPERTY
1. Yield - This seems to be popular. Is this the best metric to use / look for in magazines reports etc? Also what typical targets does an average investor use (e.g. 5% for yield?)
2. Other metrics that I should look for, say if I in reports that list figures per Suburb?
PROPERTY VALUE/PRICE INFORMATION
3. Graphs/Tables of average house/unit prices IN THE PAST (e.g. for the last 5 years) per Suburb? Where/how to get? Can I get this info for free? (e.g. particular magazines, publications) [My thinking is to use this to identify areas that have already appreciated ahead of other areas. In other words to help point out areas that are lagging in their appreciation relatively speaking]
4. Future Projections (Graphs/Tables) of average house/unit prices per Suburb (or for a limited set of Suburbs)? Where/how to get? Can I get this info for free?
RENTAL INFORMATION
5. Graphs/Tables of average house/unit rental prices IN THE PAST per Suburb? Where/how to get? Can I get this info for free?
6. Rental vacancy rates, to get feel for how easy/difficult it would be to re-rent? I guess one only needs a current snapshot for this item, no need for history?
INFRA-STRUCTURE IMPACTS
7. How to identify whether particular suburbs have upcoming infra-structure investments, local government initiatives that would be a positive
RENT AS IS versus RENOVATE
8. I'm not sure if there are any stat's for this item, but is there a general rule of thumb re what is best here. For example if one had the personal time to arrange renovation tasks (monitor things), can you generally do better if you buy a place that costs say $20k less and then use this money to renovate? Or is this one of these "well it depends" type scenarios?
I think these are the main things I need pointers on. Everything else I'm hoping is more straight forward, i.e. actually buying, shopping around for a good loan, etc.
Regards
Greg