Welcome back to another episode of Talk Property To Me! In this episode, my co-host Aaron Downey and I delve into the crucial aspects of property selection for first-time investors. We build upon our previous discussion on finance and now focus on the key considerations when choosing the right property.
We kick off the episode by emphasizing the importance of location. We highlight the common mistake of investing in familiar areas without considering diversification. We stress the need to conduct thorough market research, considering factors like proximity to reputable schools, public transport accessibility, and amenities.
Moving on to property types, we differentiate between residential and commercial properties. While commercial properties offer high returns, they require larger deposits and active leases, making them less suitable for first-time investors. We emphasize the significance of choosing the right property type based on investment goals and strategies.
The discussion then shifts to the long-term outlook of the chosen property. We explore how economic trends, development projects, and scarcity can impact property values and rental returns. We stress the importance of considering owner-occupied appeal and scarcity to attract tenants and maximize investment returns.
Lastly, we touch on the importance of staying updated with market trends and seeking professional advice when needed. We encourage listeners to educate themselves and consider reaching out to experts like Aaron for guidance in making informed property investment decisions.
Overall, this episode provides valuable insights into the intricate process of property selection, guiding first-time investors towards making sound investment choices. Tune in to our website for more episodes and resources to enhance your property investment journey. Thank you for listening, and we look forward to sharing more insights in our next episode!
- 00:00:00 – Introduction to Property Selection
- 00:05:30 – Importance of Location in Property Selection
- 00:10:50 – Conducting Market Research for Property Selection
- 00:12:58 – Choosing the Right Property Type
- 00:16:44 – Considering Long-Term Outlook for Property Selection
- 00:22:14 – Scarcity and Owner-Occupied Appeal in Property Selection
- 00:25:43 – Staying Updated in Property Selection
ABOUT THE HOSTS
BRAD EAST
Brad East is the Managing Director of Wisebuy Home Loans. Brad is an award-winning mortgage broker and has helped thousands of clients gain finance to purchase properties. Wisebuy Home Loans is the go-to mortgage brokerage for clients wanting out-of-the-box applications approved.
Website → https://wisebuygroup.com.au
LinkedIn → https://www.linkedin.com/in/newcastlemortgagebroker/
Instagram → https://www.instagram.com/bradeast_mortgagebroker/
Facebook → https://www.facebook.com/bradeastofficial
AARON DOWNIE
Joining the podcast in 2024, Aaron Downie is a seasoned property investor and director of Mackenzie Buyers Agency. Aaron’s deep understanding of the property market and investment strategies provides listeners with invaluable insights.
Website: https://www.mackenziepropertygroup.com.au/
Linkedin: https://www.linkedin.com/in/aaron-downie-1b2749134/
