Don’t put all your eggs in the one basket

To receive an attractive rental return from your investment, you will firstly need to find tenants and secondly find tenants that are willing to pay the rent you’re advertising.

Terri Scheer Insurance general manager Carolyn Majda says that when choosing a property to invest in you should think about the tenant demographic you want to  attract, for example a family, sole tenant or couple, and choose a home that is likely to appeal to them.

She also advises considering properties that are close to good schools, shops and public transport as these are likely to be well sought after and may give you a larger pool of prospective tenants from which to choose.

Other things to consider include whether it is a well-maintained building (if you are buying an apartment) and if there is good natural light.

Byron Rose principal of real estate firm Rose & Jones, NSW, says the question investors should ask themselves is: “Would you live here, and would you be prepared to pay market rent for the property?”

This article is fromProperty Observer's free ebook Top 10 Property Investment Tips

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