Six Step Property Selection Framework

When starting and building up property investment portfolio it is critical to follow a strict selection process. Below is a six step process that I use when investing in property.

1) City / Town- Select which cities or towns to invest in. Different strategies work better in different cities / towns.

2) Area - Select which area within the town or city that you would like to invest in and concentrate on. Different areas within a town or city will produce different results.

3) Streets - Select which street or streets to focus on. Just a few streets apart can make a big difference.

4) Property - Choose which type of properties you would like to invest in. The best type, size and condition of the property will depend on your investment strategy.

5) Due Diligence - Carry out careful due diligence on the property to ensure it meets your investment criteria.

6) Negotiate - Negotiate the right price and terms. Buying well is the key to success in property.

You may have heard the saying Location, Location, Location as being the most important factor in property investment. The next most important factor is the price that you pay for a property.