Five Real Estate Investing Tips*

[jesika]

1.Find and agents who is trustworthy, reliable and knowledgeable. Referrals are a great method to get right agent.
2. Make offers correctly. Dont always bid lower or higher. If you bid lower you may loose some great opportunities.
3. Dont take it personal when it comes to business. Your decision should be based on profitability.
4. Always think out of the box. Think for extra opportunities. Think ways of earning more by doing small changes.
5.Find motivated sellers. They may be too bad to loose. Search newspaper classified advertising, pay attention to the wording. "Need to sell," "Must sell," and "Will look at all offers," are the usual indicators.

[Ladyhawk]

If you are thinking of investing in property, most people immediately think residential but industrial and commercial real estate are worthy options.
If it is residential you want then houses close to schools, shopping centres and public transport tend to be more desirable and may command higher rents or more capital growth.
There's a magazine full of tips on investing in property on LJ Hooker Real Estate's (http://www.ljhooker.com.au/buy/yourguide/)website. I keep referring to it, but only because I find the information invaluable and worth sharing...

[MelbKate]

1.Find and agents who is trustworthy, reliable and knowledgeable. Referrals are a great method to get right agent.

I wouldn't trust an agent as far as I could throw them! In all my years of dealing with PMs and agents, I have found there is no substitute for doing your own research and due diligence before buying. Agents will say ANYTHING to make a sale - I've been blatantly lied to about pets being allowed in body corporates, repairs supposedly being made pre-settlement, the estimated rental amount a property will fetch - you name it!

Agents are salespeople, they are only interested in making money. My strong advice is to never blindly follow an agent, accountant or buyer advocate's advice. Listen to a variety of views, do your own independent research and use common sense. Then make up your own mind and rest well knowing that you are in control of your investment decisions.



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I DIY manage with Rentwise.

[kristinthomas21]

Usually people who are well informed of the real estate is easy to survive in the face of people who are more confident and it is a starting line on a lot of real estate is struggling to survive in this field.

[AntheaJ]

there is no substitute for doing your own research and due diligence before buying.

I agree. There is something said for making your own research and decisions and learning from the consequences and benefits of your own hard work. My friend was recently considereing a real estaet joint venture, having done due dilligence found that it was in her best interests to consider joining with these guys - http://www.jointventurerealestate.com.au/.

I am going to a seminar with her next week to get more information as I'm wary of partnering up. I know she needs the financial help, but how do you know if it's right for you when, as you say Kate, there are some really good salespeople out there just trying to make a dollar?

[francinemelbour]

Great tips, Also an agent must be more than happy to assist customers looking about buying properties and that are qualified to represent clients whether they are buying or selling real estate properties and negotiate the best possible prices to complete the deal.

[iconic]

Choosing a good agent is the key to a successful venture in real estate. You have to exert efforts to the right one and it is worthy when you are already earning from your investments.

[haydencook17]

Understanding that the real estate market is volatile and can be somewhat unpredictable, investors also must make sure to have a planned exit strategy, should the time come to bow out of the real estate market.

[R3aLEstat3]

I've been saving the tips on a document file from the people who shared great tips here on the forum. Continue doing these wonderful work guys. It's totally a great help.

[JackHomes]

Well, your all tips are useful. I really appreciate this…

[Macain123]

1 Under stand real estate market
2 Make a plan how can i managed it
3 How much finance is required
4 Use the experience of real estate experts
5 What are rules and regulation related to real estate.

[PhotonSmith]

1. Buy in the right suburb, and in that suburb buy in the right street, and in that street, buy the right type of property.
2. When you have spare cash, do not put it towards repayment on your existing owner-occupied home. But save towards a deposit for the next investment property.
3. If you consider apartment, buy in boutique development that have 20 units or less. That way you have less competition for tenants and buyers (when selling).

Recently I bumped into this interesting property investment tips (http://www.mortgagechoice.com.au/investing-in-property/property-investment-tips.aspx) and I thought some of them make good sense.

[Anya]

I wouldn't trust an agent as far as I could throw them! In all my years of dealing with PMs and agents, I have found there is no substitute for doing your own research and due diligence before buying. Agents will say ANYTHING to make a sale - I've been blatantly lied to about pets being allowed in body corporates, repairs supposedly being made pre-settlement, the estimated rental amount a property will fetch - you name it!

Agents are salespeople, they are only interested in making money. My strong advice is to never blindly follow an agent, accountant or buyer advocate's advice. Listen to a variety of views, do your own independent research and use common sense. Then make up your own mind and rest well knowing that you are in control of your investment decisions.

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I totally agree with you MelbKate, I've had similar experiences with agents - they will do everything to make a sale even if you'll end up having problems with the owners while some put extra "profit" on top of property price - so frustrating.
In real estate investment.. it's better to do a lot of research and a lot better to speak with the property owners.

[CSQTownPlanner]

Good location also plays an important part while investing in a property. When you plan to buy or rent a property, the first thing that comes to mind is this is a place where someone is going to live. You can improve the property but can't move the location. So try to choose a property in busy towns or cities rather than choosing in a country.

[projectfacilitator]

1. Buy something run down on it's own piece of land, to give you options in the future
2. if you are looking at apartments, only buy in an art deco apartment block, forget about the 60's, 70's even new apartments now days,
3. Buy no further away from the cbd 25km
4. Make sure the property you are looking at buying is within walking distance to train station, bus, schools, medical facilities, shops
5. If you can get on a freeway within 5-10min from the property to access the cbd that's a big bonus
6. Most importantly set aside your emotions and tread carefully where you buy.
Best of luck

[PropertyAcademy]

Real estate game has changed so much and it pays to understand how the whole system works before anything else.