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

A guide to Mortgage Protection Insurance Here's a quick look at important aspects of purchasing Mortgage Protection Insurance.

Your Home Loan Journey Road Map with a Mortgage Broker Engaging a mortgage broker can make your home loan journey a lot more smooth and efficient. What's more is that mortgage broker services are usually free for borrowers. Here's a snapshot of your home loan journey with a broker.

3 New-Year Property and Mortgage Resolutions Want to kickstart 2021 the right way? Here are some great mortgage saving opportunities.

Ways your Broker can help after a Mortgage Settlement Monitoring your mortgage is necessary to capitalise on saving opportunities and new loan features as well as ensuring that your interest rate is competitive. Here's how a broker can help you do this.

7 Home Loan Rejection Reasons despite a Preapproval Right from changing your job to an increase in online spending - here's a list of mistakes you should avoid after a preapproval to prevent your home loan application from getting rejected.

View all articles



Enquire now