First Contact

So you’ve found a property that might qualify as an investment. The area checks out, low vacancy rates, decent potential yield, property is below market but attractive, street looks nice, within 5-10Ks of CBD, etc, and now you need to flick the realtor your initial inquiry.

Firstly it helps to let them know you’re an investor, this way everyone is on the same page. Then let them know you’re not a local, and you need some additional info on the property. Below is an example of an email I sent to a realtor in Tasmania:

Hi xxxx

I’ve just been looking over your listing on realestate.com.au for 00 xxx street, suburb, TAS.
As an investor I’m chasing some additional information on this property:

Date the dwelling was built
The AAV of the property
Rates/Water Costs
Rental estimate (weekly)
Rental Days On Market (how long would it take to find tenants for this property ?)
What do renters in this suburb/area want most in a property ?

That last question was more of a generic one for the area, but then the realtor is likely to have sent this on to their property manager – who can probably answer the question anyways. So why not 🙂

If relevant, some additional questions might include:

Are there any easements on the property
Are all rooms of legal height (within Australia) – relevant if planning to improve the property
Is there any undisclosed damage (ie water damage)
Has there been a pest and/or building inspection done and can I get a copy
Would you consider the property tennantable as is