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101 QUESTIONS You must ask before buying that investment

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Your Investment Property | 13 Jan 2014, 03:56 PM Agree 0
Buying property is exciting and scary at the same time. To minimise your risks and maximise your profits, follow this ultimate buying checklist
  • Chris | 21 Jan 2014, 02:31 PM Agree 0
    Most of those questions are related to "used" property. These are generally more suited to owner occupiers or to people who live in the same area. An investor may be better served by purchasing new construction where 'faults' are not applicable. An investor or investment company will generally have done the appropriate homework about an area. A builder/developer is not likely to build in an area that will not have the appropriate growth and business development because there will not be a plentiful supply of prospective buyers.
  • Frank | 23 May 2014, 03:42 PM Agree 1
    analysis paralysis - yes as an 'always want more information' type, I have suffered from this many times - thanks to my instant decision partner most of my recent decisions have been profitable

    when I worked in real estate an airline hostess with unrealistically low budget asked me - I found a place where the tenant kept a dog indoors which had peed all over, soaking into the floor which stunk to high heaven - most prospective buyers walked in, held their nose and walked straight out - disgusting !

    I told her, replace the floor for a few thousand and you have a great bargain - she trusted me and bought it for maybe half the price of neighbouring houses - and was very happy indeed !
  • Fay McLean | 25 Nov 2014, 08:29 PM Agree 1
    It was interesting to see you mention 'analysis paralysis'. So many investors suffer from this in a big way. In fact I have just written a full article on that very topic for my community just this week. Whilst doing due diligence and research is absolutely important; sometimes it gets to the stage where an investor simply needs to 'just do it'. Not every deal will be as big a winner as the one before it and there are many lessons to be learnt from making an odd mistake or two. Don't get me wrong - the intention with investing is not to lose money or make mistakes, but what I'm saying is there is never a crystal ball. And no matter how certain a deal looks, things could still sway a little from the ideal outcome. This fear is what often leads people to gathering more and more and more information. Then rather than taking the 'leap' into a property - they get paralysed with analysing information.
    You've created a great list of questions for those who may not know where to start.
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