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Finding the right investment property in Victoria
Saving for retirement – particularly if you’re hoping to retire early – is something to consider seriously. If the stock market or mutual funds aren’t earning you enough income, then real estate investing may be the way to go. Today it’s easier than ever to enter the investment property market, particularly with the assistance of an experienced property investment consultant in Victoria and other Australian cities.
What a property investment consultant does
There are many advantages in working with a professional property investment consultant. A real estate professional will often have the inside track on upcoming properties and opportunities before they’ve been announced to the public. And the type of property you purchase is what makes the difference between success and failure.
The best investment properties are usually to be found in a major city – like Victoria. Look for areas that are near key areas such as finance districts, downtown centres, or waterfronts where you can rely on consistently high demand for property. You’ll want to avoid suburbs that are already trendy since their value has already peaked. Instead, look for the next big thing by keeping your eyes peeled for new infrastructure or new developments that will make the area more desirable and consequently worth more on the market. This is another place that a property investment consultant in Victoria can help you since they’ll make it their business to stay well abreast of any and all plans for civic development, both public and private.
Finding the right layout and the right tenants
When it comes to buying the right investment property, it’s not just about the location but about the apartment or the home itself. You want a building that people will want to live in, with an open floor plan, modern amenities, and plenty of living space. A property investment consultant can connect you with Victoria developments and new construction that will sell quickly and rent for a profit right off the bat. Your investment consultant can help you assess a fair market value for the property and negotiate a reasonable purchase price.
After your purchase, a property investment consultant can also help you complete all the necessary paperwork to make your property ready for the marketplace, as well as set a rent that will make you a profit without driving away prospective tenants. If they can’t do it themselves, they can refer you to a property management company that can.
Looking beyond Victoria
No matter how much work you put into your investment property choice, you can never entirely eliminate the risks of the marketplace. Periods of economic slowdown are inevitable in any city, and while they straighten out over time, time may not be something you have. That’s why Ironfish property investment consultants in Victoria advise you not just to purchase locally, but to build a portfolio of properties in other cities. Our Victoria office can connect you with our sister offices in Perth, Sydney, and other cities across Australia where our fellow property investment consultants are happy to provide their own local expertise.