Real estate can be quite an emotional asset class as opposed to shares and often, investors make decisions which are emotionally driven.

A better strategy is to approach property investment like a property valuer- more facts and less feeling.

Property Valuers are not clouded by emotion or sentiment.

Here are some tips from RealRenta to help you stay objective:

• Research the market and use hard facts only, not sentiments
• Research the sales/rental history of the property
• Use Google Maps to calculate how close property is to amenities
• Search for titles, plans and any applications to council
• Ask the council if any nearby developments are in the works
• Attend auctions, speak to neighbours, estate agents and local businesses about the area
• Take stock of what is included in the sale and what is not (ie furniture, fixtures etc)
• Turn on taps and switches to make sure they all work
• Make note of the visible flaws
• Review the access and street appeal
• Take note of the condition of fencing, pools and outbuildings
• Note the slope of the block and any items that may require future maintenance
• Compare similar properties and what they have sold for and how long they were on the market
• Is the property on a busy main road or backs onto parkland?
• Keep your heart out of it and treat this like a business
• Consider what the current median is in the suburb and what the prospects for future growth is like
• Consider engaging a buyer’s agent who has a mission to help you locate a high-quality growth asset

Find out why RealRenta is disrupting the Real Estate industry with our Self Management platform .

RealRenta is for Smart Investors, who realise that they are no longer bound to traditional property management and the associated high fees.

Use RealRenta for Free for up to 2 months: https://app.realrenta.com/Signup.aspx and tell all your friends who have investment properties- they will love you even more!