Victoria Braces For Population Explosion! Real Estate Investors Prepare For Payday...
Real Estate in Victoria seems to be getting more and more expensive by the day
. With the population on the rise and the economic indicators signalling growth, one would assume that Melbourne real estate should be on the cards of any real estate investor. A lot of businesses are getting setup in Melbourne. So all those developments combined in the area have made real estate investment a really attractive option.
The uptrend in Melbourne real estate can also be judged by the fact that the rents have moved up quite a bit in last couple of years. With new facilities being added and with more businesses getting setup, you would expect further growth for Melbourne (which actually is the case).
Moreover, as there is more influx of people and businesses, real estate would be expected to be in demand (both for business purposes and residential purposes). The appreciation of real estate can also be contributed to the avenues for enjoyment that exist all over Melbourne. You only have to walk down any side street and you are likely to come across an alfresco cafe and restaurant full of people.
A lot of people have made a lot of money by investing in Melbourne real estate and a lot of people have started investing in real estate. However, as is the case with any real estate investment, you must evaluate your options carefully before you actually go for real estate investment.
If you are full time into real estate investment business in and around Victoria, then you must already be looking at various investment avenues in real estate not just from the perspective of new developments but also from the perceptive of existing real estate investment opportunities (i.e. in terms of distress sales, public auctions of property etc). However, if you do not live in Victoria but want to invest in the state, then your best bet would be to find a real estate buyers agent or maybe just look for the Victorian real estate listings over the internet. If you are unable to find other avenues easily, you might consider investing in new Victorian real estate developments i.e. new constructions. However, you need to pay heed to the growth indicators before you make the move to invest in a particular states real estate.
The capital city Melbourne is always a lively place and that is one great reason why a lot of people want to get a piece of Victorian real estate. And if a lot of people want a piece of this real estate then it must make business sense (and investment sense).
If you are looking for real estate for investment purpose, then you would really be looking at the profits you can make by reselling that piece of real estate. So, in this case your requirement would be to search for Victorian real estate that can be bought for cheap and sold for a profit. You might either be flipping (i.e. quickly selling off that real estate as-is to another party for a profit) or you might be selling it off after a couple of years (expecting appreciation) or you might be getting that real estate repaired in order to add to it's value before actually selling it off. The key here is to get it cheap. A lot of people suggest that renovating is the way to go i.e. you buy an ugly looking piece of real estate and then get it renovated so that it shines and sells well.
Some would say economic factors are the ones to be considered most when going for Victorian real estate. Others would say location of the property is most important when considering real estate in Victoria. However, what everyone seems to be missing out on is the fact that you can buy it cheap only if the seller is motivated enough i.e. the seller just wants to sell the property (that Victorian real estate) real quick. This could be due to various reasons e.g. a divorce, an impending foreclosure, need for cash for some emergency, job transfer or moving to another place just for any reason.
When the seller is in a hurry to sell i.e. when the seller is motivated (and the degree of motivation can vary from person to person), you get an opportunity to negotiate a real good deal. If you have great negotiation skills, you can get that real estate real cheap. So, not only is finding the right property in Melbourne (and at the right location) necessary, you also need to find the right seller (i.e. someone who is motivated enough).
Real estate investing in Victoria is seeing more and more investors trying to get a piece of the action. With a large Population growth trend on the horizon, the city of Melbourne will surely be luring many property investors.
by: PETER TSORAKOS
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Victoria Braces For Population Explosion! Real Estate Investors Prepare For Payday...