Hi ,
Imagine you've just bought a 3-bedroom property in a good location. The next step is to put it on the market and start turning a profit. If only it was that easy!
Location and number of bedrooms are not the only important factors when buying a property. As an investor, you always have to take the property’s earning potential into consideration.
The first thing you’d want to check is the area’s occupancy rate. This refers to the number of rental units occupied vs. the total number of available rental units.
Getting the occupancy rate also means taking a deep dive into economic factors such as restaurants & pubs, town centres, and job growth. You’ll also have to consider social factors like available schools & hospitals, community areas, and even crime rates.
And this is just the tip of the iceberg. There’s still more!
