Hi All, I'm interested to know what people's strategies are for finding an IP. I tend to search for areas that I think 'tick the boxes' and then look for properties that I can afford or that I consider are a good deal (less than median price etc). Do you find locations and then properties? Or do you find a property and then validate the location?
depends on the reason for buying if for passive growth then i would be looking for an undervalued location , ie perth if for sub division, rennovation or cashflow then i look for the property first
Here is a blog we wrote covering something we put together earlier in our property journey: Investment Property “Strategy” – What does it look like? As a starting point, I would look at property cycles, the growth that has happened in the various cities, when was the last peak, what are the rental returns like.
Ah yes, I hadn't considered this. I had always subscribed to the idea of 'location, location, location'.
Thanks for the link, would you say that it would depend on the situation (or client) whether you went for location first and then the property and vice versa?