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 52: Will property prices fall? When? And by how much? What investors need to know
Episode 51: SPECIAL EPISODE: SPI team reveals all the financial details of its portfolio
Episode 50: 8 properties by 25: Former housing commission kid reveals how he changed his life and created wealth
Episode 49: How to build a sophisticated multi-property portfolio
Episode 48: ‘From just $2,000 in my pocket to 6 properties’
Episode 47: The SPI Show answers more listener questions: Special episode
Episode 46: 4 properties by 24 – how to build a portfolio without sacrificing fun, travel or food
Episode 45: Special guest Mark Bouris on what really makes property prices rise and when to invest
Episode 44: ‘11 properties by 31, now I’m stuck: What’s next?’
Episode 43: 22 properties by 30: Can Generation Ys build massive portfolios?
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