The first thing you need to decide is do you want to invest in residential or commercial property? There are pros and cons to both.
Your next consideration is the biggie: location, location, location. So what should you look for? Areas that are much cheaper than the surrounding suburbs are good bets for growth. So too are areas with scheduled developments like the extension of the train line, new amenities or infrastructure. Contact the local council to find out what is in the pipeline. Areas with a built-in rental demand, like those near universities and hospitals, will ensure you don’t have trouble attracting tenants.
Do your homework, check out relevant market reports and visit other home opens in the area so you learn how to identify a bargain when you see one.