podcast

How to identify a great reno property

How to identify a great reno property
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Jacque Parker, House Search Australia

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Some good identifiers of a great reno property; first of all is location. It has to have a great location. The old adage "The worst house in the best street" certainly applies to property. I would also say, "The worst unit in the best complex" also applies because you can renovate both. The second thing to look for when looking for a good reno property is the capacity to either extend, out a granny flat in the backyard, add some kind of value where you are competing with other properties in the area that are going to be of similar nature when you finish renovating or be superior. Don't overcapitalise by making your property the best of the whole bunch. That can often be a recipe for disaster.

 

Listen to other instalments of The Smart Property Investment Show:
Episode 65: Real estate agents: what separates the good from the bad?
Episode 64: How this investor learned from a property blunder
Episode 63: Q&A session: the SPI team answers your questions
Episode 62: Property procrastination: the importance of finding help
Episode 61: The ins and outs of strata: what buyers should consider
Episode 60: The pros of using a buyer's agent: why this investor brought someone in
Episode 59: How to invest in property as a team: two investors share their secrets
Episode 58: When do you stop investing? The SPI Show answers more listener questions
Episode 57: Wealth creation through property: trends and themes to think about in 2017
Episode 56: The SPI Show accountant reveals all: How to pick your financial team
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