Doing the research is only part of the challenge
One of the obstacles to good research is the fact that it requires considerable time and effort. But another challenge for investors is making sense of all the detailed information that is uncovered.
We all know research is important when buying an investment property. It can help identify the areas with the best drivers for growth and shed light on which parts of a suburb offer the best investment options. Research can also play a part in helping investors compare one property with another.
One of the obstacles to good research is the fact that it requires considerable time and effort. But another, often overlooked challenge for investors is making sense of all the detailed information that is uncovered. Ironically, the more research that is done, the more difficult it can be to know which pieces of information you should base your decision on. This is where an expert buyer’s agent can help.
We recently had an investor approach us looking for advice and assistance with regard to locating and purchasing an investment property with high-growth potential. After an extensive search we located 3 viable options and subsequently presented them to the investor with corresponding market evidence and detailed analysis weighing up the advantages and disadvantages of each option. The information was thorough to say the least.
The problem was that the investor could not decide between the 3 excellent options, which were all located in one suburb. However, we were able to offer some useful suggestions to help the investor to make a decision.
Firstly, we suggested that we try to determine which of the 3 sellers was more motivated to sell. This could potentially save the investor thousands of dollars and sway the decision towards a particular property.
Secondly, we suggested the investor focus on the micro-locations of each of the properties, as this can make an enormous difference to the ultimate long term performance of the property.
These suggestions ultimately helped the investor to make a decision to choose one property, which had a location slightly better than the others. This property was not only in a popular school zone but it was also near the proposed light rail route, which could help boost the property’s appeal over time. The investor then confidently proceeded with purchasing the property.
Finding a property that outperforms the rest of the market requires a lot of leg work, but you also need to be able to interpret the information you find to make an informed decision. This is why more and more investors are relying on our established expertise in this area.