No Cinderellas Allowed on Our Watch
When embarking on research about investment property many of our clients are dismayed rather than heartened by the amount of information out there.
Peter Johnson said recently, "Often I'll see an emotional investor - one who wants to buy a place in their own street, or the house where their first girlfriend lived and when I ask them if they have a plan B they don't. It's at this point I ask them to humour me and research a plan B. Consider other areas. Consider buying the next property from a purely business point of view. Currently there is so much information out there however that many new investors don't know where to start."
Nathan Smith agrees. "Cutting through the white noise of information on property research can be a daunting task. One way of doing it is to devise a list of tools that you can use to ensure your property market education is top notch. Tools like current, relevant websites, property market periodicals, education focused seminars given by ethical property research companies and regular phone calls to your broker to bounce ideas."
One such useful tool revamped and used frequently by independently audited Australian research property company, Bluewealth, is the property clock. This deceptively simple device is an excellent visual reminder of what you must consider when investing in any Australian suburb.
As Bluewealth CEO, Dr Tony Hayek said last week, "There's definitely a cyclical nature to the Australian property market but you can't always set your clock by it. While it doesn't happen every day, in interesting times such as these the property clock does not always move in a predictable direction."
Obviously it makes sense to find out exactly where each suburb sits on the clock and Bluewealth Property can certainly provide you with that information at any of their invitation only educational seminars.
In the meantime as it stands the clock gives you many starting points for your questions
What's the difference between a danger zone and a boom?
Does pain always result in correction?
When does an opportunity become value?
So where does that house in your street that you've had your eye on fit on the clock face?
Call us for more information. We can point you in the right direction to get your education started.
At Mortgage Choice at Sutherland we don't want anyone to miss out at midnight.