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THINGS FIRST-TIME RENOVATORS NEED TO KNOW - Tip 4

Be sure to acquire the research and knowledge that will allow you to mitigate your risk and give you the best chance of real success.

FIND THE RIGHT SUBURB, AND THEN THE RIGHT PROPERTY

This is where due diligence steps in.

Around eighty percent of your property investment success will come from choosing the right location and the balance from buying the right property in that location.

Research local markets to identify price points, what buyers want in a home or apartment and all the usual factors such as supply and demand and times on the market.

Once you’ve pinpointed a suburb with profit potential, target a property that fits the size of the renovation you want to undertake.

Always do pest and building inspections.

You don’t want any surprises, do you?

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Jason Gwerder
Monday, 5 October 2020


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