Property Guru Quiz

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Property

Do you know where the following are located in the area you are targeting?
  • Public transport
  • Property

    Do you know where the following are located in the area you are targeting?
  • Shopping centres
  • Property

    Do you know where the following are located in the area you are targeting?
  • Schools
  • Property

    Do you know where the following are located in the area you are targeting?
  • Parks
  • Property

    Are you considering areas designated by commentators as property hot spots in your plan?

    Property

    Do you know the comparable sales price range for the property type you are considering?

    Documented Plan

    Have you determined which property type you would like to invest in?

    Documented Plan

    Are you attending open inspections?

    Documented Plan

    Have you reviewed the title and contract note of a property for sale?

    Documented Plan

    Have you bid at an auction or made an offer on a property?

    Documented Plan

    Do you know how to tell if a property has structural faults?

    Advice

    Do you have a written plan outlining your property investment strategy?

    Advice

    Does your plan include the outcome that you want to achieve i.e. your financial goals?

    Advice

    Does your plan include a calculation showing how you will reach your financial goals?

    Advice

    Do you have strategies in your plan for minimising risks?

    Advice

    Does your plan include entry, hold and exit strategies?

    Advice

    Have you considered how life changes e.g. getting married, having (more) children, retirement may affect your plan?

    Advice

    Does your plan take account of your current debt and borrowing capacity?

    Advice

    Will this property be largely responsible for funding your income in retirement?

    Risk

    Have you met with a property expert?

    Risk

    Is your expert related to you or a friend?

    Based on the book Property Prosperity - 7 Steps to Investing Like an Expert
    By Miriam Sandkuhler

    Risk

    Is the advice your are receiving free of charge?

    Risk

    Is your advisor suggesting you buy a property in a specific development or project?

    Risk

    Do you know the qualifications an expert property advisor should have?

    Risk

    Do you know the 3 questions to ask to ensure the advice is unbiased and only has your best interests at heart?

    Risk

    Do you know 5 'marketing' methods commonly used to sell a non investment grade property?

    Team of Experts

    Do you know what your investor risk profile is?

    Team of Experts

    Have you thought about how you can keep your investment if you were to lose your source of income?

    Team of Experts

    Can you name the 5 different risks an investor may face?

    Team of Experts

    Would you say the risks of buying property off the plan are high?

    Team of Experts

    Would you say the risks of investing in house and land packages are moderate?

    Research

    Do you agree that you should engage experts only when you have begun inspecting properties for sale?

    Research

    Have you consulted your accountant or financial planner about your investment strategy?

    Research

    Have you engaged a Buyer's Agent or Advocate to help you research, source, select and negotiate a property for you?

    Research

    Will you arrange for a solicitor or conveyancer to check the sale contract before finalising your purchase?

    Research

    Have you shortlisted building and pest inspectors to ensure the property has no issues?

    Research

    Have you found a quantity surveyor to help you draw up a depreciation report for your investment property?

    Information

    Do you know the 6 macroeconomic drivers of property?

    Information

    Do you know the 4 micro economic drivers of property growth?

    Information

    Can you identify 4 drivers which stimulate rental demand?

    Information

    Do you know the rental vacancy rate in the suburb you are looking at buying in?

    Based on the book Property Prosperity - 7 Steps to Investing Like an Expert
    By Miriam Sandkuhler

    Information

    Do you know if the rental returns have changed in the last 3 years?

    Information

    Do you know which property types are in low supply and high demand in your area?

    The Rules

    Have you found out how to discover what the vendors' actual reserve price is?

    The Rules

    Can you name the 3 most used tactics agents use to sell real estate?

    The Rules

    Would you say you are a highly experienced and skilled negotiator?

    The Rules

    Have you thought about what questions to ask an estate agent to determine the real level of competition for a property?

    The Rules

    Do you know the rules governing buying property via private sale?

    The Rules

    Can you name the 5 rules for bidding at an auction?

    The Rules

    Do you know the rules governing what happens when a property passes in at auction?

    Portfolio

    Do you own more than 1 property?

    Portfolio

    Do you have a portfolio plan?

    Portfolio

    Do you review your properties' performance annually?

    Portfolio

    Does your portfolio plan include a review of drivers for rental demand in the areas where you own property?

    Portfolio

    Would you say all the properties you own are ares with high demand but low supply of property for sale?

    Portfolio

    Would you say your investment decisions have been made on an objective, non-emotional basis?

    Portfolio

    Would you be prepared to sell a property in your portfolio if a review told you that the permanent drivers in an area have turned negative - even if it means you may lose money?