property tax Why Being An Uneducated Property Investor Is So Risky (Ep322)

Now is a riskier time than ever to be an uneducated property investor. I want to share why, as well as what you can do to become an educated investor

Hey guys! Ryan here from OnProperty.com.au helping you find positive cash flow property. And today I want to do this audio-only podcast to talk about why being an uneducated property investor is so risky. I had a couple of things happen today that just made me be very worried for the general market in terms of the tactics that people are using in order to sell properties and to make a profit on the properties that they are selling to uneducated investors who are overpaying for properties.

The first one that I want to talk about is an email that I received from someone marketing their property. Now I could not work out whether this person was an individual simply selling a property that they owned or if they work for some sort of company that is trying to sell this property. Basically they sent me a link and they say, “Please see the attached link which may be of interest to your client base.” I do have a relationship with a few real estate agents who send me properties that may potentially be positive cash flow that I might want to share with On Property Listings customers who receive a new property listing every day. So I am not not used to getting these.

I am used to getting these and then looking into them to see will these suit my list? Is this something that is interesting for them? And so the price for the property was $389,000 and it says lease: 12 months at $1,300 per week and the property was in Bathurst. And I am thinking to myself, $1,300 a week for a property in Bathurst.

That just sounds like a mining town price for a property. Who is going to pay $1,300 a week to live in Bathurst unless of course you are on acreage or on a big farm or something like that. And so my red flag went immediately up and so I responded and I said, “I actually did a bit of research. Why is this property selling for so much when 9a – obviously there has been a subdivision here, sold for $410,000 just a few months ago, about 6 months ago. So the property next door sold for what, $279,000 less than this one. And how can it rent for $1,300 a week and I looked into the area and I looked into prices within a couple of streets of where this property was listed and I looked for 5-bedroom houses which is what it was and I could see like most of them are renting for less than $450 per week.

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http://onproperty.com.au/322 - View the full transcription and audio version of this episode.

http://onproperty.com.au/free - See real positive cash flow property listings

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property tax Why Being An Uneducated Property Investor Is So Risky (Ep322)
5 Likes	5 Dislikes
306 views views	12.6K followers
Education	Upload TimePublished on 9 Oct 2015

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