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

Steps towards equality for women mortgage brokers This year’s International women’s day theme of ‘Each for Equal’ focuses on what each of us could do at the individual level to make a difference. In line with this thought, we spoke with women Branch heads at YBR to understand what made them thrive professionally.

6 Money Mistakes You Don't Want to Make Spend big in the lead up to Christmas then pay for it in the New Year. It’s an all too common habit that many of us fall into. See these solutions.

Pay Off Debt in The Lead Up to Xmas Take aim at debt now before the expenses of Xmas start mounting up. Here’s how to clean up your finances, including dealing with your credit card.

Principal and interest vs interest-only? How to choose between an interest-only and standard home loan? See if you fit into any of these common scenarios.

Should You Invest in A Holiday Home? Holiday homes – is investing in a beach shack or bush retreat a good move?

View all articles



Enquire now