Often investment property hotspots are announced in the magazines and on the net, but often it’s too late to ‘jump on the bandwagon’. If national headlines are telling us about it, then everyone else knows too.So how do we find great investment properties before everyone else does?… with good research. We look at the five most effective research tools available to the investor to give them the edge over others:
- RP Data or PDS Live. One of these tools is the single most important addition to the property investors’ tool kit. Search recent sales by geographic location using a mapping tool or drill down further and create a Comparative Market Analysis Report on a single property. It’s expensive but can save you thousands.
- State government websites showing infrastructure spending will give you a good indication of where government’s attention is. This is often where jobs will be.
- Google Earth is a fantastic tool to get you viewing areas you can’t get to easily. Of course, there’s nothing like getting to see it in person, but some initial searching on Google Earth can help you spot things you wouldn’t have seen otherwise.
- Real estate websites will give you a good indication of what’s on offer and can also tell you what demand there is for an area. They are often not the best place to actually buy properties but they can tell you a lot about an area.
- Local council websites can give you some idea of the culture and livability of a location as well as giving you vital information on building codes and such.
But the most valuable asset to the investor is time. Many hours should go into searching for the right property. If you don’t have the sort of time to dedicate yourself to it as much as you should, get someone else to do it for you! IPG offers a free, no-obligation, consultation which will give you everything you need to make your next property purchase.