The Gold Coast is one of the best places to live in the world!

The constant sunshine, beautiful sandy beaches and the enviable lifestyle means more people want to live here!

Because of this, buying an investment property on the Gold Coast is becoming more and more popular but it can also be very tricky…

So how do you find the right investment property for you?

Well Firstly, start by getting your finances in order and reviewing your financial status. Talk to a lender and if needed get pre-qualified for a mortgage before you start looking.

Follow the list

I recommend writing a list of needs vs wants, consisting of things that you know you’ll need and of things that you would like to have in your property.

Remember there is no perfect property, but there are properties which can make you money!

Examples of a needs vs wants list:

Needs for an investment property:

• Easy access to schools, shopping and public transport
• Sufficient bedrooms for tenants
• Sufficient bathrooms
• Comfortable Eat-in kitchen, pantry, bench space etc
• Plenty of storage
• Garage, car port or at least private parking

Wants for you own property:

• Specific carpet/flooring, paint and exterior colour
• Pool or room for one later
• Outdoor living
• Great views
• Newer property

Don’t get emotional

Its hard, but try not to get emotionally attached to a property.

One of the biggest mistakes investment property buyers can make is falling in love with a property. Emotive buying can be the most expensive type of buying, which is okay if you ‘just want that property’ but if you want to make money it all comes down to price.

The needs vs wants list is there to help you stay on track and to help you guide you to the right property.

The key is to be picky, but don’t be unrealistic. Don’t let a property go because its missing one or two points off your list, remember you can always change a property.

Talk to a Real Estate Agent

A great way to find the right area to invest in is to talk to a professional in the industry. Even talking to a “sellers agent” like ourselves is a good idea.

At Real Estate Real Easy we work in the industry everyday so we know where’s hot and where’s not! Its impossible to predict the future, but it is possible to follow trends and this is the type of information we can help you with!

We like to keep “buyer short-lists” of people looking in particular areas and in different price brackets. This notifies buyers of properties as soon as they are available to purchase, this may give you the edge you need in this competitive market.