Want to spot the next boom location? The big boys have the numbers, but you can have the talent. Here are some tips…
Secret strategy for spotting the next property boom town
Ever wondered how some property investors are always in the right spot at the right time, just before a suburb booms? What do they know that you don’t?
The secret is to follow the “big boys”. Where are the big companies spending money? Where is the government channelling funds and allocating budgets to build better roads, community facilities like schools and create transportation hubs?
Governments and large companies allocate huge sums of money to researching demographics and population trends. They are constantly looking for the next area to establish a presence. Their opportunity can be your opportunity.
So what do you look for?
- Where is the next Bunnings Warehouse being built? Their website shows you where they plan to build the next warehouse.
- Child care centres. Where are ABC Learning Centres and the like looking to establish their next facility?
- Fast food chains. Does your target area have a KFC or McDonald’s? Is one on the way?
- Supermarkets. Are Coles or Safeway planning on moving into the area?
Large corporations have entire departments devoted to pin-pointing where they should locate their next outlet. Their budgets are far greater than you could ever spend doing the same research, and they have more people available to compile the data.
So why not take a leaf out of their book: Look, listen, then act!
Wendy Moore was one of Australia’s leading IT project managers when she realised she was more passionate about property than project management. She left her highly paid position to become a full time property investor. She founded Affluencia to teach other women how to enjoy success in property investing.
For more Property Wealth Creator blogs, click here.