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Up until the late 1980’s people used to simply buy property on their own. Buyers Agents didn’t really exist in Australia.

Occasionally, people would get advice from their Accountant, or sometimes their Solicitor on what type of property they should buy, and where are the best areas, and some other general buying advice. Then they would go off on their own, grab the local paper (this was just before the internet, Domain and realestate.com) and dive straight in.

So you have found a property that ticks all your boxes, and you want to buy it, so what next? how much should i offer for this property

The most common question I get asked by clients is, "How much should I offer for this property?"

This is a difficult topic and understandably of great concern to most buyers. The difference in offers can vary by an average annual salary. We are talking about a serious amount of money.

Renovators around Australia have been buying old run down properties, and bringing them back to life over the past 20 years, with often remarkable transformations taking place. Classic examples are the 'character' terrace homes, or dated 'red brick' classics. They often possess great 'bones' or structure, are in good locations, and are prime candidates for that facelift or upgrade to add value and make a profit.

How will you know if your next property investment will be like a teenage child, constantly with its hand out asking you for more and more of your hard earned money each week, or if it will be a great little cash machine, providing you with a reliable and steady, passive income that will continue to grow?

It takes a lot of planning to take all of your property investment income and expenses into consideration to get a true picture of the investment.