How many suburbs do you keep an eye on at any given time?

Even big time investors who look all over the country work in cycles and (presumably) aren't looking everywhere at once. I'm curious how many suburbs specifically do you have your eyes on at any given time? And are they all relatively close together or really far apart?

When I was last searching, I had 6 suburbs in my cross hairs, all within spitting distance of each other. What about you?

 

I mostly just check out where I've got my own properties and every couple of months I have a look to see what's happening in about 3 or 4 other places that I'm interested in.
Everything's up, from what I can see.
I'm not 'big-time' though.

 

I concentrate on a city as a whole.

At the moment I am looking at Melbourne..as a whole. I am keeping an eye across 20 suburbs.

 

To be a successful investor I believe you need to know that market better than anyone else currently trying to buy into that market,that said it would fall onto that investor as to how many suburbs/area's they could keep track of at any one point in time.

To me if you are looking to buy you should narrow it down to only 2/3 suburbs so you are focussed on that micro market not hoping from one market to the next..otherwise in can be like chasing rainbows!!

 

Yeah...I know....I am still chasing rainbows and the pots of gold...23 plus...pots of gold found to date...more to come...

 

Is

20 suburbs? I know glen waverley quite well and the surrounding burbs but they are so expensive.

 

Yep....in the process of settling 1 in Melb and 1 in Geelong..and looking for another in the Southeast...the Melbourne outer suburbs training is a moving....

 

At the moment the Brisbane search has around 11 postcodes, so guessing anywhere between 20-30 suburbs?

Cheers,
Michael

 

Focus on whichever market is rising then sift through data, leads etc to work out specific areas then usually pin point 1 or 2 areas, my attention span is limited. If it's too hot then I jump at whatever comes up in these areas that fits my criteria, sign up contract immediately to secure site, with an out If it's a no go. Lock in asap in hot market and hope the agent goes along with this, you only need 1 agent working for you and not the vendor

Mtr

 

At the moment, I'm keeping an eye on about 3 different postcodes and areas, so maybe around 6-10 suburbs?

 

Probably about 15 suburbs at a time, I should look for more as I'm limiting myself

 

I actually look at the whole state. Believe or not, it doesn't take too long to check all the listings for WA for a day. I slowly worked my way up from looking at a few suburbs over the years.

 

This would do my head in, don't know how you can do this, good for you.

Mtr

 

We concentrating on three suburbs in the area we're buying in . Two post codes . Around a month ago , I checked out around 20-30 to see what sort of deals were available , then narrowed the search down .

Cliff

 

If that was the case , then you'd only have one successful investor in each market and that obviously not the case .

Every advantage you get in terms of buying low , selling helps , but it's not essential to success .

In our first round of buys in Logan and rocky we were buying well , but the thing that made us money was the market doubling , and that benefited everyone who bought when we bought .

Timing , timing , timing .

Cliff

 

Wasn't exactly what I was trying to get across with this comment..the better you know the market the better placed you are to indeed find a great deal when it presents and act upon it..

 

Agree with that completely

Cliff