Your Must Haves.....

What are the things a property must have before you you make an offer???
Who has a checklist that you use they would like to share........
 
Haha,

Depends on the area, what the property managers tell me a essential for rent.

I have a 'must-not-have' list, not so much a must have.

If there were any it would simply be, potential. Potential to do something with it to increase the yield and manufacture capital.
 
Thanks.
To me I minimise my searching to: (Once I'm set on the location)
1. Blocks of less than 12
2. Train Station within 10 Minutes (Obviously looking at Inner City)
3. Street (Not main Road) which has minimal apartment to house ratio
4. Active and well managed Body Corporate
5. Ability to buy unrenovated to make a cheap, fuss free cosmetic renovation
6. Decent size floor plan


Am I being too picky??

I guess this is why I still haven't done anything in the last 12 months of looking. I can't believe I'm so much more hesitant this time around (looking at third) compared to previous purchases!!!!!! :confused::confused::confused:
 
Thanks.
To me I minimise my searching to: (Once I'm set on the location)
1. Blocks of less than 12
2. Train Station within 10 Minutes (Obviously looking at Inner City)
3. Street (Not main Road) which has minimal apartment to house ratio
4. Active and well managed Body Corporate
5. Ability to buy unrenovated to make a cheap, fuss free cosmetic renovation
6. Decent size floor plan


Am I being too picky??

I guess this is why I still haven't done anything in the last 12 months of looking. I can't believe I'm so much more hesitant this time around (looking at third) compared to previous purchases!!!!!! :confused::confused::confused:

The way to make money, is to solve problems. None of the above is fixing a problem.
 
Looking at long term growth though, hold for 10 years and the decide what to do with the property.....
Is that what you mean by solving problems?? I'm not in it to find something where I can flip in short term......
 
Thanks.
To me I minimise my searching to: (Once I'm set on the location)
1. Blocks of less than 12
2. Train Station within 10 Minutes (Obviously looking at Inner City)
3. Street (Not main Road) which has minimal apartment to house ratio
4. Active and well managed Body Corporate
5. Ability to buy unrenovated to make a cheap, fuss free cosmetic renovation
6. Decent size floor plan


Am I being too picky??

I guess this is why I still haven't done anything in the last 12 months of looking. I can't believe I'm so much more hesitant this time around (looking at third) compared to previous purchases!!!!!! :confused::confused::confused:

Not picky - they are all good markers. I'd add less than 3 stories to that. Close to local amenities like supermarket would be good too.
 
What are the things a property must have before you you make an offer???.

1. Roof and walls, seriously. (Don't mind if a door or two missing)
2. Deep sewerage connection
3. Potential to add value (renovation, subdivision, GF etc)
4. A small street and if possible a decent looking neighbourhood
 
Decent public transport.
There's no point having a bus stop if the only bus that goes past is the school bus or it takes an hour to go ten kilometres.
 
  1. Has to be a house.
  2. Much of the price has to be land value.
  3. Neutrally or positively geared.
  4. In an area with population growth.
  5. Priced at the bottom third of the market.
 
All of the above answers just reflect the personal preferences of the posters investment style.

I only have one absolute and that is " no major negatives " . That can vary from place to place , so one of the first stops we make is talking to the local pm's ( preferably one not affiliated with a Selling agent ) and ask them what do people want and don't want in that specific area . For us personally that usually means we avoid busy main roads.

Some people want a project . Some people want a set and forget investment. Obviously the more effort you put in the greater the potential rewards. Some people end up making property their career , while some people want profits but minimal impact on the rest of their lives .

I think this can also change at different stages of your lives and can also change depending on necessity eg if you have the money to pay someone to do painting you may be happy to do that , or if you don't have the money , you might have to do it. You might do it to save a few thousand as we've just done. We've just painted the inside of a house ( future PPOR but renting out for a couple of years ) but my wife doesn't want to see a paint brush or a roller for a long time .:eek:

We've done developments and renovations and while they can be very profitable , they can be all consuming in terms of the time you have to put in . One paragraph in a DA in terms of conditions can take a long time to sort out . Obviously you can pay someone , but that costs money .

Currently we're buying a couple of properties for our SMSF. These are going to be long term buy and holds , so personally we want good properties in good areas where we know there will be a long term demand and with minimal ongoing maintenance issues .

We previously bought a unit in this block for our SMSF which ticks all of those blocks . http://www.realestate.com.au/property-apartment-nsw-manly-108107301 . Very well managed , good sinking fund and relatively low BC fees. No vacancies.

Just some things to think about .

What you have to do is work out what your style of investing is , but sometimes you only work that out by doing it and either loving it or saying I'm never going to do that again

Cliff
 
Really interesting topic. I love hearing what drives others towards one investment over another.

For us, we look at getting properties as close to cost neutral as possible at a cost that the bank will allow us (hopefully) to borrow. The bank tends to be our number #1 hurdle. They then tend to be set and forget for a while before something needs to be done. They tend to be long term investments, as we are sole traders and so investing acts as our superannuation, with the exception that we can access it before 65.
 
Thanks.
To me I minimise my searching to: (Once I'm set on the location)
1. Blocks of less than 12
2. Train Station within 10 Minutes (Obviously looking at Inner City)
3. Street (Not main Road) which has minimal apartment to house ratio
4. Active and well managed Body Corporate
5. Ability to buy unrenovated to make a cheap, fuss free cosmetic renovation
6. Decent size floor plan


Am I being too picky??

I guess this is why I still haven't done anything in the last 12 months of looking. I can't believe I'm so much more hesitant this time around (looking at third) compared to previous purchases!!!!!! :confused::confused::confused:

If you actually find properties that fit your criteria, then no, you're not being too picky.

The interesting thing is, where is price on your list of must-haves?
 
2. Deep sewerage connection
Why is that?
You may need to leave more space if the sewerage is deep.


There's no point having a bus stop if the only bus that goes past is the school bus or it takes an hour to go ten kilometres.
Good point. Never thought of checking the actual time table! Always check the google map and going "yep.. there is a bus stop" :)
 
Back
Top