Remote Control Property Investing, you can buy property on the other side of the country and here Wendy Moore shows you how.

One of the key things you look for when considering a property purchase is a great yield. With the recent interest rate drops, anything close to a city is now looking much more attractive. However, don’t discount country and regional areas either.

But where do you look? For some, this presents a problem. Whilst you may find a killer deal in Brisbane, if you are located down south in Melbourne it is not always economical nor practical to visit and do the legwork in person.

So what do you do? Enter remote control property investing! I have purchased a number of properties sight unseen with tremendous success and you can too.

You need to let go of the misconception that every property deal must be viewed personally with your own two eyes. It doesn’t. You just need to know who to contact and the questions to ask. Due diligence here is vital.

Here’s how you do it:

Google your target area and see what comes up.
Ring the local council and ask about the area and specifically about the property you are researching.
You MUST get a qualified building inspector and pest inspector in to do a report. This step is key. Then go through the reports with a fine tooth comb. Get the inspector on the phone to step you through it and ask them their opinion of the property.
Ring local businesses (try the newsagency, chemist, pub, etc) and ask them what they think about the street you’re looking at and is there anything that you need to know
Contact the local tourist bureau – these people are paid to talk and they will know the area backwards
Speak to the real estate agent – but NOT the one that is selling the property. Ring the opposition and ask them what they know about it. Chances are, they were approached by the vendor to appraise the property so often they’ll happily give you a few insider tips
Don’t immediately eliminate a property just because it is on the other side of the country. Take the necessary due diligence steps and think outside the square.

Wendy Moore is founder of www.affluencia.com and creator of the Get Started in Property Mentoring Program – the step-by-step, hold your hand program that gives you the tools and confidence to take your first step on the property investing ladder so you can live a life you love. To receive your F.R.E.E. Special Report and weekly how-to articles to expand your property investing toolkit, visit www.affluencia.com.

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