1. Location, Location, Location
This is the most important criteria. It’s important to understand that location does most of the heavy lifting for your real estate investment success. In a post-pandemic world, location has become increasingly important. People want to be able to walk, bike, or drive to everything within 20 minutes. Everyone is looking for a “good neighbourhood,” although everyone’s definition of that is different. Some good questions to ask:- What has been the growth of the area over the past few years?
- What are the accessibility, appearance, and amenities of a neighborhood?
- What is the property’s proximity to things like busy roadways, shopping centers, and community centers?
- Does the property include land?
- How close are schools, childcare and universities and tafes, and how close to major cities?
2. Infrastructure
The infrastructure of a city plays a significant role in shaping what would be considered a competitive city. Developers and investors are attracted to competitive landscapes, making the property value and potential for return on investment higher.
What is the accessibility to public transportation? What are the city’s or developments plans for improving roadways or creating bike paths? What is within walking distance of the property? Shifting market trends have created more demand for compact, walkable developments.
How far is the nearest hospital? What is the school system like? Are there parks? These are just a few aspects to ponder when considering the infrastructure surrounding the property you want to purchase as an investment.
3. Demographic
Demographics data, such as age, race, gender, income, crime risk, school quality, migration patterns, and population growth, combine to create the characteristics of a neighborhood. As a result, major demographic shifts can have a significant impact on real estate trends for several decades to follow.
Understanding your location’s demographics will give you important insights into things like your prospective rental pool to possible maintenance issues to expect.
Here’s a helpful tip when considering your perfect occupant: Don’t make it personal. To invest strategically, removing your heart from the equation is essential to approach your investment property with sound logic, detachment, and an objective eye.
We Can Help
We can help! Our team is here to assist you every step of the way, from creating a property investment plan to finding the perfect investment property for your goals. Our team of licensed property experts are passionate about helping you succeed!
At OneCorp, we combine your vision with our knowledge. Whether you’re new to property investment or an experienced buyer, our team is here to support you through the whole process!
Getting started on your investment property journey has never been easier:
- We start by helping you set clear goals and objectives as to what you want to achieve through property investment.
- From there, we run the numbers through proprietary software to accurately assess exactly what you need out of a property portfolio to achieve those goals.
- Lastly, we find the perfect property to make those objectives a reality!
Our average client sees a huge reduction in their mortgage term, fantastic tax benefits, and most importantly, more money each week in their back pocket while building wealth for a prosperous future. Don’t wait for rates to rise; get started today!
You can schedule a free consultation with one of our licensed property specialists HERE.
