YBR

Andrew Morello: What to look for in a property

In this article:

An excerpt from Andrew Morello's eBook The Morello Matrix: your guide to property investment. Andrew, provides his comprehensive personal approach to buying real estate and building a property portfolio.

To get your free copy of the full Morello Matrix eBook visit www.ybr.com.au/morellomatrix

Consider the type of person who will want to rent your property i.e families want schools, why young professionals want restaurants and public transport.

Consider these attributes

  • Close proximity to shops
  • Distance to schools, universities, colleges
  • Close to churches, playing fields and parks
  • Proximity to public transport
  • If on the edges of the city, close to a freeway
  • Near to cultural hubs such as cinemas and theatres
  • Near to a waterway, such as a beach, harbour or river
  • In a place with character, such as colonial or federation style
  • In a building with community features such as tennis courts, pool or barbecue area
  • Close to a major employment centre

All of these may seem basic, but you must consider them. There are other things to look for in the actual rental property:

  • Modern, clean kitchen
  • Clean, functional bathroom
  • New floor coverings
  • Good paint job
  • Garden
  • Extras such as paid television connection, storage shed, barbecue area
  • Good laundry (if renting to families)

Take the first step

Type of tenant

Try to get a tenant to sign up for longer than a year

  • Ask yourself: is the highest payer better than a tenant who is most likely to really look after your property?

Outsourcing service: if you don’t have a lot of time or willingness to invest in learning about legal matters, maintenance and collections, then strongly consider outsourcing this to specialised businesses that do: property management businesses.

Feature articles

12 Ways to Buy Christmas Gifts on a Tight Budget Survive this year’s Christmas spending spree with your reputation and bank balance intact.

What Happens When an Auction is 'Passed In' What to do when a property is passed in at auction. Handy advice for buyers and sellers.

Why Comparison Rates Are More Valuable If Personalised Comparing home loans? Be sure to choose the right comparison rate.

How Do You Know When Your Finances Are Ready? Take this test to know if you're ready to make your first property investment.

5 Things About Property That Buyers Wish They Knew If you had a crystal ball before buying your first home, here's what you might see.

View all articles



Enquire now