It should be clean, have good-sized bedrooms, ideally with off-street parking, and good positioning away from noise and main roads.
“You’ve got to buy something that suits the majority of tenants in that particular area,” Gray says. “Features such as these will ensure your property is attractive to renters and will guarantee your income stream.”
If you are new to stocks and do not understand shares prices, this sounds like a no-brainer, but it can be easy to mistake a lemon investment for a good value prospect.
“If the property is close to a major CBD, beaches, schools, public transport and leisure facilities, it’s more likely to grow by more than the average in a good market and is more likely to hold its value in a down market,” Gray explains.
Keep in mind that if you buy around the median price, then more people can afford to rent it and more people can afford to buy it, if you were put into a forced sale position.