Series 1, Episode 8 - Top Tips

In this special bonus episode, Michael and Jo share their top 5 tips for investing in property. #toptips #therentalspecialists Purchasers are going to need to consider the needs of their tenants when they are looking to buy because transport's important. A lot of buildings don't have parking for all the residents so tenants and owners will need to go to council and apply for permits - that are not always available - so when somebody's looking to purchase they need to make those investigations and tenants need to factor those costs in as well. You've got to be very street specific and you really need to do your inspections at three different times in the day. You do it in the morning, lunch time, and then late at night, then you'll get a better feel of the suburb and your comfort level around that. To sense that community feel, what you find, you really need to walk it to get a really good feel and understanding of it and that community feel there's a lot of community gardens in some of the streets and it creates that really good culture and environment for the residents. I guess when people work really hard they want to come home and they just kind of want to relax and they want to feel like they're at home and just be a part of something more than just work. My only concern in relation to these areas is it's high density housing and there might be potential issues in relation to to molding, to rising dampness this is all as a result of a high density environment. So I think what's really important Jo is really to you know if you're going to buy a property that dates back to the 1870's you need to make sure that you've got a proactive maintenance program for it and when you're buying the property a critical document is the pest and building report. To avoid joining the queues you really need to get a buyer's agent or to appoint one. It's the only way to get in there to inspect properly before the Saturday masses.