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Property Investment Checklist

Property due diligence cheat sheet for property investors.<br>

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Property Investment Checklist

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  1. Property Checklist Flood zone and bush fire zone– check council or state government websites to ensure the property is not located in a flood / bushfire zone. Alternatively ask the real estate agent to supply flood zone information Access to schools – proximity to schools is a prime real estate demand indicator. Ensure the property is within a reasonable commute distance to the nearest school Public housing – avoid neighborhoods with high concentration of public housing (preferably 0%, however up to 10% is acceptable providing no public housing in the immediate vicinity) Prefer properties that are surrounded by residential areas. Avoid locations that are on the outskirts, increasing risk of new supply coming on market due to new land releases. Avoid properties close to industrial zones Asses the airline traffic around the property. If there is an airport nearby, ensure the property is not situated on flight path Properties that are positioned north-east are trendy. Stay away from properties which have poor light levels, are near the rubbish bins or car parks and those without a balcony or courtyard htag.com.au

  2. Property Checklist Calculate the Net Yield for the property by considering expenses such as council & water rates, agent fees, anticipated maintenance, anticipated vacancy rates, interest repayments etc. If you’re aiming for a positively geared property, the resulting Net yield should be above 0% Order a building inspection report. It is sometimes referred to as a ‘standard property report’. Check the build date of the property to ensure it’s under 50 years old. Negotiate the price down if there are significant defects, that need to be fixed Ask your solicitor to review the sales contract. Pay attention to underground easements, water drainpipes etc. on the title schematics as well as mandatory state/council emergency access conditions i.e., maintenance manholes If you don’t have a property manager, vet potential tenants thoroughly. Consider minor renovation expenses to increase rental appeal htag.com.au

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