A good real estate opportunity can be hard to find. It’s why you’ve got to be on the lookout for the signs of one from the moment you decide to make an investment. Otherwise you could miss out on the best property, the best deal, and the best bit of money you’ve ever made! But how are you supposed to spot one? Here are a few pointers you’ll want to keep in mind.
Has it Gone to Auction?
If it has, there’s a very good chance you’re going to make a big profit. If properties don’t sell, or they get put on auction due to tax issues, you can get a very good deal on upwards of 3 bedroom homes. Buy them low, renovate and redecorate, and then sell them on high – that’s the best way to make a profit in the real estate world. Keep an eye out for such auctions and double check the lots before you attend.
The Area is Growing Fast
A good real estate investment is one you can move quickly. That means you need to keep an eye on the population growth of towns and cities around your local area. Which areas have the highest demand for property? How quickly are free properties being snapped up? This is a very good sign for your portfolio! Invest in this area and it won’t be hard to make a double return or find reliable rental tenants.
There are Plenty of Schools and Jobs
If these amenities are nearby, people will flock to the area, and that you can be sure of. That means you should look into catchment areas, school scores, and both public and private working sector. If a new employer has just moved into town (and the bigger the better here), the easier it’s going to be to turn a profit on any real estate in the area. And when you’re local, it’s going to be far more manageable to keep up with industry news; start such a search nearby and then slowly widen the pool.
How Valuable are Neighboring Properties?
If you end up interested in a property, make sure you take stock of the neighboring properties on the same street. You can then cast the net a bit wider and search the surrounding streets too. What are you looking for? The value ceiling.
How much have similar real estate investments sold for in recent months and years? You need to know this information before you put any money down, as you don’t want to accidentally price yourself and your ambitions out of the local market. No one is going to buy a house if the one next door is upwards of $20,000 cheaper!
A good real estate opportunity can take many different shapes. However, these kinds of properties are always going to have the above factors in common. Take these into account if you want to set up a portfolio or diversify the one you currently hold.
(Disclaimer: This content is a partnered post. This material is provided as news and general information. It should not be construed as an endorsement of any investment service. The opinions expressed are the personal views and experience of the author, and no recommendation is made.)