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How to: Find the Perfect Investment Property

By Heather Mellican

Joining the property game and finding yourself the perfect investment property to add to your portfolio can sometimes feel risky. There are a few things to consider to help you find the property that will ensure a good return. 

Balance the three P’s-Price, Property, Position: Provide a balance in all three areas, don’t focus on just one. Thinking about the three P’s and creating a perfect balance will ensure you get a property that will increase your rental return and work within your budget.

Close to the CBD: Most quality tenants want to live 2-12 kilometres from the CBD

Close to public transport: Most potential renters like to be located within 10-12 minutes walking distance from public transport to ensure easy access to the CBD.

Choose a unique property: Supply and demand determine price so avoid buying an apartment in a block of 12 or more.

Research what’s happening in the area: Contact your council’s town planning department to see what construction is planned for the area in the future.

Remember you aren’t buying for yourself:Think like a renter and don’t get attached.  Search for a property that will suit the needs of your target tenant and will double in value in the shortest time.

Featured image: 2/56 Leamington Street, Reservoir. Unit sold and rented by Ray White Reservoir.

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