podcast

How to find the best investment location

Damian Collins
0

Damian Collins, Momentum Wealth

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How to find the best investment location.

The things I look at for a hot spot are things that are going to improve the value of an area not only short term but in the longer term. So I'd be looking at; is there any major infrastructure that is going to come to that area that's going to improve the accessibility of amenity that's going to drive people to that particular location? I'd also be looking at population growth. Is there any industries in that town or city that's going to drive a lot of people to come and work at that particular location or city? And certainly some other things to be thinking about include; is there going to be a lot of supply? If there's a lot of supply coming into that area then I wouldn't necessarily rank it a hot spot. But one thing I always caution investors of is don't always be necessarily chasing the hot spot that's hot tomorrow. We've seen that in mining towns. A lot of people chased what was the hot spot and everyone wanted to get into Port Hedland, Karratha, Gladstone, some of these Queensland regional towns and a lot of them really burnt themselves and they're now finding that their properties have dropped anyway from 20-30% in some cases! and rents are down a long way. So when I look for a hotspot, it's not just what's hot today, it's what's hot for the next 20 years because that's how you make money long term in property.

Listen to other instalments of The Smart Property Investment Show:
Episode 53: 6 properties in 2 years: how this investor is achieving his goals
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?’
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