Getting familiar with different markets...?

Discussion in 'Investment Strategy' started by MicrowaveJenny, 22nd Oct, 2019.

Join Australia's most dynamic and respected property investment community
  1. MicrowaveJenny

    MicrowaveJenny Well-Known Member

    Joined:
    4th Sep, 2019
    Posts:
    91
    Location:
    WA
    For those who invest in various markets -

    How did you familiarise with those markets? I'm wondering how important local knowledge is, or is research, data analysis and feedback from other investors enough?

    I travel a lot with work, and am often curious as to which areas have location and amentiy draw cards, over others.

    If I were to start looking at Brisbane (for example), whats the best way to familiarise with that market? Whilst I'm there for work regularly, I wouldn't know one end of the market from the other...
     
  2. Sackie

    Sackie Well-known cafe bum of the East Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    22,663
    Location:
    Vaucluse, Sydney.
    I usually start with some broad assumptions about the state I am targeting, then that will determine how far from the CBD is acceptable, then ill determine what kind of dwellings should I be targeting.

    Using your example of Brisbane, I would be reading a lot of the posts on Brisbane, what areas tend to have good growth, how far from the CBD is recommended, what kinds of dwellings are recommended for growth, houses or units. At what price points do people see value? After reading many posts, plus researching on google, as well as engaging with 1 or 2 people who are very familiar with the city you are looking at, you will start to put a mental picture together. Read many articles on google and make note of key areas/strategies mentioned. Then type in those areas on PC and read what others say. Eventually It will all fall into place.

    I always like to blow up a map of the CBD and stick it on cardboard. then draw 5km rings around the CBD, then 10km, 20km etc. Then place stick it notes on the map with key bits of info you learnt about an area or price point.

    Seems like a lot of work but at the end of the day, you will become so familiar with the place and what you are looking for, it will surprise you.

    BAs are also available :)
     
    Westie likes this.
  3. Angel

    Angel Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    5,740
    Location:
    Paradise, Brisbane
    Hello!
    I use Google Maps - satellite and street view
     
  4. MicrowaveJenny

    MicrowaveJenny Well-Known Member

    Joined:
    4th Sep, 2019
    Posts:
    91
    Location:
    WA
    Thanks Sackie, sounds like a great approach!
     
  5. spoon

    spoon Well-Known Member

    Joined:
    17th Nov, 2016
    Posts:
    1,463
    Location:
    Time-dependent