Prevent Purchasing the Wrong Investment Property

By John Sage Melbourne

It’s the stuff of headaches: you get to the pointy end of your property investment journey,you devote and buy a property. And after that it ends up that it was the incorrect one to buy. A terrible result,however it happens!

So let’s discuss what you can do to prevent buying the incorrect property.

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Some expressions are cliché since they are true,and here’s one: location,location,location. You have to find a position that’s going to work for you since of nearby infrastructure,or since itremains in demand from wealthy owner occupiers.If you’re thinking about buying a fixer upper,aim to ensure that your home has good bones to build on. If the structure and foundation aren’t sound,it’s going to be a much tougher roadway for it to gain you a profit.

Considering a knock down and reconstruct? Your fixer upper may be beyond that repair,and it may be smarter to tear all of it down and begin from scratch. Here,consider the location of the house,the costs to demolish it,in addition to the building costs. Whip out the calculator and ensure the numbers include up before turning over your hard-earned.