Yellow Brick Road: Home
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

How to Cope with Property Investment Anxiety Feeling anxious about jumping into property investment? Here’s what to do when stress strikes.

Buying Your First Home and Need Advice? There's a lot to learn when embarking on your first property purchase.

Fixed or Variable Loan - Which Is the Better Option? Can't decide whether it's a good time to fix your loan? Ask yourself this question.

Bad Credit and How to Clear It New year, new credit habits. Don't let a poor credit history drag you down. Five ways to rebuild a poor credit history.

5 Things You Need to Know about Low Doc Loans Is there such a thing as a home loan that doesn’t need documentation?

View all articles



Enquire now