Property Investing

When you find a property you like, in a street you like, with great potential how do you know it is a good investment property?  Research.

Drive around the area, up and down the street -
do people look after their property?
People that invest money in their property will help sell your property, buyers or renters will not want to rent on a street that doesn’t look inviting.

have they made alterations?
If the properties on the street have had work done to them that means that any work that you would like to do which you would need planning permissions or building regulations for are more likely to be acceptable to the council.

is the street full of home owners or renters?
Knowing who predominantly resides on the street is important, if you are after a family home to renovate and sell on and the street is full of students who rent then you are on the wrong street.

You know how much the property is on the market for, you know what you want to achieve from renovations but how much can you afford to pay for the property including your renovation costs, fees etc.

There is a website called Mouse Price that can help you with this all you need is the address.  You can use this website to look at general house prices on the street, what properties have actually sold for on the street, and local information including crime stats, amenities and demographic data.  The main thing I use the site for is looking at property prices on the street, it will tell you exactly how much someone paid for the property and when.  Make a note of the house number and drive past and take a look.  This will give you a good indication of what is achievable on the street.

Then you can answer the question is this going to be a cheap property investment with a great margin.