Some ways to determine if a property makes sense or not as an investment
“Hello and welcome back to daily buying tips, I’m Dean Berman from Berman Buys.
Today we’re going to discuss some ways to determine if a property makes sense or not as an investment.
Sometimes a good quality property investment isn’t fancy.
It’s not glitzy or shiny or particularly pretty.
In fact it might be slightly ugly.
However, there’s nothing wrong with that in my opinion.
All too often I see investors lured by the glitz and the glam of shiny renders and brochures.
Often looking past logic and becoming emotional about the various claims made about the property.
When you feel like your being lured to something new and shiny.
Remember there are median prices in an area, which are a good initial gauge of how the value stacks up.
If the rental estimate seems high.
Maybe check what’s available in the market, it could be over hyped.
If you are trying to buy something for tax relief, remember that point.
Something off the plan in many instances will take over 2 years to finish.
Also don’t base your decisions on best case scenario.
A medium case is a much better choice.
The good thing about facts and figures is they are black and white.
It’s hard to become emotional about them.
Often times it’s the price you pay where the investment becomes good or average.
Remember this point as the glitz can sometimes cloud your judgement.”