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What are the free online resources that every real estate investor should know about?

SOURCE: propertyobserver.com.au

The rise of the internet over the last 10 years has changed property investing materially – and the number of free resources that you can access right at your fingertips, any time of day or night, is astounding.

Here are some recommended “go to” free real estate websites and resources for pushing your investments that one step further.

GOOGLE ALERTS

Much-used and much-loved, Google Alerts can be set up for news on any area of your liking. Property Observer editor at large Jonathan Chancellor suggested in his speech at the Home Show that setting up alerts for your chosen suburb or locality plus keywords like ‘infrastructure’ or ‘government spending’ are possible approaches to ensure you buy in ahead of the pack. This scrapes local news online, as well as other commentary, and sends it straight to you.

You can set them up to be as frequent or infrequent as you like, all you need to do is send them to your Google account. You may want to also consider using an RSS reader or a bookmarking system.


A FAVOURITE LISTINGS WEBSITE

While it’s suggested that you peruse a number of listings websites (not all agents list on every portal), it’s worthwhile having a favourite that you can check in on regularly. Whether it’s realestateVIEW, realestate.com.au, Domain, Homely, Homehound or another, be active in viewing them. Property price guidance might come from sites like onthehouse. Keep an eye on areas of interest, new listings in your price range and even how much properties are renting for – this will quickly show you changes in the market, and what is selling. You’ll also get an idea of the active agents in the area. This brings us to…


AGENT RATING WEBSITES

It’s good to know the active real estate agents you can call and speak to, and potentially list your property with in future. RateMyAgent is one of these sites, that shows you which agents are the busiest and selling the most and provides some localised data.


GOOGLE EARTH AND MAPS

Such an easy portal to use, Google Earth and Google Maps will tell you a huge amount of invaluable information and orientate you instantly. Whether it’s using the Street View portal to get a better look at just how close it is to the main road, and whether you can see any graffiti in the pictures, it can also show you how close the property is to the nearest school, shops, public transport and even how close the suburb is to the capital. This is a first stop when researching a new area.


LOCAL TENANCY PORTALS

If you’re a landlord, then get yourself armed with information. All of the legislation is online, and now there are even hubs that provide guides and assistance for landlords and investors. Consider spending some time on different Tenants Union websites as well, these help quickly show you common renters’ concerns and how you might assist as a property owner. You will also want to have the details for your local tribunal on hand.

Legislation by state and territory:

New South Wales

Queensland

Western Australia

South Australia

Northern Territory

ACT

Tasmania

Victoria


INVESTOR FORUMS

Investing in property doesn’t have to be a lonely task and that doesn’t mean you always have to spend money to attend groups and meetups. A number of forums exist for you to speak your mind with other property buyers, and naysayers. From Somersoft to renovation forum Home One, whatever your investment tastes there’s something for you. A number of industry experts are often also online and able to answer questions via the forums.


TELEVISION RE-RUNS

Missed that episode of The Block that everyone’s discussing (it gets tense when it’s up against My Kitchen Rules)? Or want to get some background on Location Location Location? They stream them through their websites, and at least include past seasons for you to get your fix.


BRAND NEW AND COMING SOON RESOURCES

The National Building Code of Australia is soon to be freely available online under new changes - great news for owner builders and anyone considering a structural renovation. And, in the last year, we've seen a crop of new websites offering useful assistance in all areas of investing. Genworth launched their LMI Toolkit in November last year, and new website and app realAs believes they have the algorithm that will accurately determine what a property will sell for (with a success rate of usually within 5%). Another startup, Next For Sale, allows potential sellers to list before they are actually sellers.
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