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  • Tips for property investors

     


    Useful tips on what to look for in an investment property for first time investors.

    Transcript:

    Today we're at a property that's just come on the market. I think it's a really good property for investors but I've asked Cameron Fraser to come along and give us his expert opinion.

    So Cameron.  This is the lounge room - what do you think?

    Beautiful room.  The first thing I notice is their classic art deco features.  Got the terrific ceiling rose, the steel casement windows which I love.  These sort of period features are fantastic for someone who really likes that style of house.  

    When you're looking at an investment property it's really important to look at the age of the property and the way it's been maintained.  A house like this is an older house but it's been really well maintained.  It makes a fantastic proposition.  

    So Cameron, in this home, the kitchen's already done.  Is that a bonus?  

    I think the great thing about this is this kitchen is great because it works for the house as it is, with its two bedrooms.  But it's big enough to allow an extension if you want.  In time add another bedroom,  expand out and keep the original kitchen so you don't lose the value of the investment. It's probably 20-25 thousand dollar investment in the kitchen.  

    When you're buying to invest, a house that's had some work done to it requires little investment.  You're going to get it on the market.  You're going to minimize that vacancy rate.  You know maximize your return really quickly.

    So Cameron.  This would appeal to investors?

    I think it's a really good block size.  Definitely.  This house lends itself to be rented out right now.  As we said with all the great features.  And then later on got the potential to redevelop.  Add some more space, add another bedroom, expand.  Eventually move in and become an owner occupier, but still have the space out the back. Still have the space out the back.

    Location is important so you get that capital growth.  This is in a sensational part of Melbourne.  It's in a really good school zone, close to transport, so it's really got everything going for it.

    OK Cameron.  So we've got two off street car spaces,  really good location and it's in an excellent school zone, And for me it's a terrific size block of land.  I love the period features and it's got that brand-new kitchen and bathroom which make it a really attractive proposition.  

    So it's got a tick of approval?  

    Absolutely!

    Perfect.

     

    About the author

    • Nikki McCarthy

      It was Nikki’s role on property show ‘On Display’ (CH9) that led her to residential real estate. She understands what it takes to get the best results when buying or selling a home having worked with developers and agents through the course of the show.

      Nikki is now living the dream and working closely with clients as she continues to pursue her love of all things property. It is her goal to work closely with her valued clients to achieve the best possible results when buying or selling their home.

      Nikki McCarthy
     

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  • Disclaimer:

    The information here is of a general nature only and is not intended to constitute financial or tax advice. You should consult your professional adviser, accountant or taxation expert for advice specific to your personal circumstances.