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What websites/resources do you use for DD?

Discussion in 'Information Resources & Tools' started by kimba88, 15th Oct, 2015.

  1. kimba88

    kimba88 Well-Known Member

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    Hi,

    As the title above, what websites or resources do you use for your DD?
    How do you research what suburb/city you are going to buy into next?
    Do you have calculators or spreadsheets you use for number crunching?

    I'm not sure if a thread like this exists already, but i was hoping to generate a list for all the noobies like me out there!

    Any help is great.

    Thanks :)
     
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  2. MsAli

    MsAli Well-Known Member Premium Member

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    That's a number of questions in 1 post...

    For research I use:
    - Price Finder - which also shows an earth view with frontages / depth of the block. Lately it also shows easements with purple colour/shading
    - Sold Prices on RE website / Rental listings for similar properties on RE website
    - Google street view to see high/low side for blocks
    - Depending on the state / council for the property, some allow for you to see contours (height of the block at different points...whether it's too sloppy/hilly)
    - Check the location by looking at what's around - Woolworths? Aldi? Major shopping mall? Accessibility to major roads? Transport?
    - If the some or all of these aren't there, what prospects are there - is anybody (government / private investors / commercial / multinationals) investing in the area in the near future? Is there infrastructure coming in (government spending).

    Use our cashflow spreadsheet which has evolved over the years and that gives us a net ball park net cashflow position for a given property with a weekly, monthly, yearly breakdown. Depreciation is an estimate though, but having been investing for some years now, it's easy to come up with a ballpark figure without having to have a depreciation report infront of us! Colour coding helps yay or nay for the property.

    Good luck!
     
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  3. Michael_X

    Michael_X Mortgage Broker Business Member

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    That's a pretty sweet list. Some other websites

    - http://house.ksou.cn/ - past sales data and suburb profiles
    - http://1100.com.au/ - Dial before you dig, resource for underground pipes and cables
    - http://www.onthehouse.com.au/ - pricing estimate and past sales data. In QLD gives you the land tax value which is handy

    Also leverage your broker. They usually have access to valuation estimates like RP Data or Residex.

    Hope this helps,
    Michael
     
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  4. kimba88

    kimba88 Well-Known Member

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    Wow, that's quite extensive. Thank you! How do you generally find information on there is near future investing in the area/infrastructure/retail outlets, etc? Where can i find your cash-flow spreadsheet..somewhere on your blog?
     
  5. kimba88

    kimba88 Well-Known Member

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    Thanks Michael!

    I also use the 1st and 3rd options. Although i'm not sure i like the recent layout revamp of www.onthehouse.com.au/
    Does anyone bother using paid websites/resources?

    Has anyone got anymore free websites they use for DD?
     
  6. MsAli

    MsAli Well-Known Member Premium Member

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    Hey Kim,

    You just read here on PC, newspapers, property magazines, government websites (including local city councils) to see what's happening in the area. Different stores like Woolies & Costco etc do tend to announce in papers on their next store openings..

    I haven't posted the cashflow spreadsheet on the blog itself..

    Good Luck!
     
  7. Michael_X

    Michael_X Mortgage Broker Business Member

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    When I first started I found good value from Investar. It's really good to learn a new area. Instead of trying to scan for good deals, it guides you to them so saves time.

    Now knowing the target area pretty well, don't really need it.

    Cheers,
    Michael
     
  8. Richard Williams

    Richard Williams Buyers Agent - Southeast QLD Business Member

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    Whats happened to on the house, not showing the land values any more.....? Any other websites showing this now?
     
  9. Simon Hampel

    Simon Hampel Founder Staff Member

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    You should just post the address and a link to the sales advert here on PropertyChat ... if someone else buys it, it was probably a good deal.

    Oh hangon - on second thoughts, that approach might not work very well!

    :p :D
     
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  10. BuyersAgent

    BuyersAgent Well-Known Member Business Member

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    There is a duplicate thread running on this here
     
  11. kimba88

    kimba88 Well-Known Member

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    Ahh that's so good to know. Great to compare. Wish we could combine the threads or something so there isn't scattered information
     
  12. Xie

    Xie Well-Known Member

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    Michael just wondering if you have any tips on how to organise this info? I find I look at it all but then get overwhelmed with what to then do with it!
     
  13. BuyersAgent

    BuyersAgent Well-Known Member Business Member

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    @Xie we should put them under headings - like finance, research, building/development etc. If you have a think about what headings make the most sense then it will get easier. Post the headings here for all to see!
     
  14. Scott No Mates

    Scott No Mates Well-Known Member

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    You've gotta use farcebook or tinder etc to check out what's really happening in the area too.
     
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  15. Scott No Mates

    Scott No Mates Well-Known Member

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    Council website is good for finding DA information as well as zoning, flood maps and local events
     
  16. Michael_X

    Michael_X Mortgage Broker Business Member

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    My suggestion is to start at the macro level and then drill down. A sequence I use

    1. Realestate.com.au invest tab and filter on Rental Yield. Look for areas where the rental yield is acceptable

    2. Use http://house.ksou.cn/ and http://www.yourinvestmentpropertymag.com.au/ for suburb data and trends

    3. Search suburb names on Somersoft and PropertyChat. The information here you won't find using data. For example which pocket of the suburb to buy and avoid

    4. Once you identify suburbs to invest, then look at properties on a house by house level. Use Residex, PriceFinder or Onthehouse (free) for past sales history

    5. Use council websites like http://www.loganinteractivemapping.com.au/ and http://1100.com.au/ for due diligence checks

    Lastly, don't get too caught up on predicting the next hot spot, that's all speculation. Personally I just try to find areas where the property holds itself, close to a CBD or areas with good fundamentals and get a good deal.

    In the long run you will do well.

    Hope this helps,
    Michael
     
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  17. Xie

    Xie Well-Known Member

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    Thanks Michael it seems I have been doing lots of the right things but will use your list as a check list and keep working on it. Much appreciated.
     
  18. Mr Dabolina

    Mr Dabolina Well-Known Member

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    Whats your cashflow spreadsheet look like?
     
  19. Scott No Mates

    Scott No Mates Well-Known Member

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    My latest toy is google earth with the globe.six.nsw.gov.au add-in. It provides land values, title details, zoning, last sales, and heaps more including all of the links to the sources of the information.
     
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  20. MsAli

    MsAli Well-Known Member Premium Member

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    Broad question that :) its got inputs and outputs with a weekly, monthly and yearly view