Today I am discussing all the things you should be looking for when purchasing an investment property.
It is important to look for a property with desirable qualities, as this is going to assist you in the long run with aspects such as how long it takes to fill the home, how much rent you can get per week, and the quality of tenant you attract.
The location of the property is important, properties within close proximity to town and main areas such as schools and facilities are desirable.
It is also helpful to consider the condition and quality of the property, purchasing a property that will continuously require work and problems is not ideal for any investor.
Tenants often desire a more modern and comfortable home, sometimes this may be a minor face lift to the home.
Another area to focus on is the neighbourhood, as this will sometimes affect the type of tenants that you do attract.
It is crucial to do your sums beforehand, as cash flow is always king when aiming to ensure an adequate return on investment.
Once you have selected the perfect investment home, it is time to choose a property management team that will provide you peace of mind and security. After all, you want your property to be in the best managing hands.
For more information regarding our property management services, feel free to contact us at Century 21 Central West.