NO 1…. DO YOUR DUE DILIGENCE
This month we have seen a rise in clients actually picking up the phone & doing their due diligence, when buying off the plan House & Land Packages! Good Job guys, I’m very impressed.
With many investment consultants selling house & land packages to their often “New Clients” for tax depreciation purposes, it is imperative buyers do some investigation for themselves. So who do you turn to?
- Local agents – but pick a few, as sometimes personal opinions come into play also. Mix it up between the big brand agents & the smaller local agents. To get the best results, ring up and say… I’m thinking of buying in, (the area being sold to you by your new investment consultant) & ask their opinion on rent returns, what houses have recently sold for etc.
- The internet – Great source, GOOGLE the area of your choice & search what is on the market etc – DOMAIN.com.au is a great source of information as well.
- Local councils – check flood levels, what is planned for the area & get a general feel for the area – ask for Town Planning.
- Local Building & Pest Inspectors – they are usually happy for a quick chat and can give you another angle on buying in your area.
- Your own personal accountant. Is this really going to be effective for your personal tax depreciation?
- Yourself – Slow it all down…If you are feeling rushed, take a deep breath & step back – any sales/investment consultant who continues to use methods of pushing, not guiding you, do not have your best interests at heart, they do have however stock to move. That stock includes the house you are about to sign up for.
Most of all, remember to be in CONTROL of the situation at all time! To stay in control, continue to do your DUE DILIGENCE