Now is the time to make the most of the current market conditions. With interest rate cuts and a high demand for rental properties, it is a good time to buy.
When choosing an investment property it is important to consider the following factors:
The property should be clean, have good sized bedrooms, sufficient parking and be positioned in a good location.
If the property is close to the CBD, schools, public transport and leisure facilities it’s more likely to grow in value in a good market and is more likely to hold its value in the down market.
Do some quick renovations such as re-painting, new carpet, tidying the garden, installing new curtains and blinds, and replacing the kitchen cupboard doors. In most cases, for every dollar you spend on renovating you should be aiming to get at least $1 - $2 back in the value of your property.
Consider tying your existing tenant down to a 12-month agreement to guarantee your rental income.
Hiring a professional property manager will releave you of the stress and ensure you get reliable tenants that pay good rent.
Listed below are several properties which would make ideal investments:
Houses
$269,000 85 Dalman Parkway, Glenfield Park
$262,000 40 Mirrul Street, Glenfield Park
$279,500 6 Yulong Street, Glenfield Park
$289,500 1 Mirrul Street, Glenfield Park
$299,750 3 Mirrul Street, Glenfield Park
$169,000 19 Cochrane Street, Kooringal
$258,000 14 Koora Place, Mount Austin
$269,000 2 Mackay Place, North Ashmont
Units
$269,000 3/5 Travers Street, Central
$220,000 1/38 Kilpatrick Street, Kooringal
$258,000 2/8 Kenneally Street, Kooringal
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