The best way to find your next star property deal is to analyse the data and crunch the numbers on locations you’re interested in.
There is so much information available to us, if we know where to look – from reports containing statistics on capital growth and past performance, to data in property investing magazines, to details listing vacancy rates and rental returns, now and in the past.
Such data is invaluable in determining how the area you’re evaluating might grow and perform in the future, based on how it has performed in the past.
The further back in time you can track a suburb, the better, because generally speaking, how a suburb has performed on average over the past 10 years is a likely indication of how it will grow over the coming 10 years.
Here’s the problem, though: when you are interpreting statistics, you are essentially trying to identify general trends in performance on that particular suburb or town.
There are many other factors you need to consider to further understand the drivers of growth for the area, and you won’t be able to tell these things by crunching the numbers alone.
For instance, there will be good and bad parts of every town. There are quality streets and less desirable streets in every neighborhood – just as there are rundown buildings that attract fickle tenants alongside quality complexes that attract reliable renters.
As investors, you want to make sure your investment property doesn’t “look good on paper” but in reality, it is a nightmare to own.
So remember: the purpose of reviewing the data is your starting point, as it allows you to identify an overall trend to ensure the suburb you’re has strong growth projections for the future.
But the data won’t tell you everything, so you’ll need to hit the phones and do your due diligence to make sure the property you’re considering truly stacks up.
If you would love to have a ‘clear direction’ in growing your property portfolio…so you feel confident and in control…
If you’d love a clear written plan to reach your specific financial goals over the next 5-10 years…
And, if you want to ‘speed things up’ so you can reach your financial goals much quicker….
Then your next best step is to book a Property Action Call, with one of my personally trained coaches…
In your property action call you will…
Discover how you could ‘tailor’ my ‘10 properties in 10 years™’ investing system…to your personal situation
Get a clear ‘snapshot’ of where you are now financially…so you feel clarity and confidence moving forward in leaps and bounds
Discover property investing mistakes that you may be making…that are hidden from your view.
And much more.
I value this call at $295. But it’s yours free because I want to ‘jump-start’ your investing.
The only catch is there are currently only a handful of spots available in the coming week…and they will go quick.