Those familiar with Blue Wealth Property know that our mission is to find the right property in the right market at the right time. Although investors often find themselves neglecting all three fundamentals, the most misunderstood principle is finding the right property.
The Blue Wealth research methodology starts by looking at the country wholly, and then delving down deeper and deeper to an individual dwelling, whether an apartment that is part of a major development or small townhome in the middle ring of a city.
Why is it that we go so deep; surely there can’t be much difference from one property to the next in a suburb?
We complete such detailed research because the underlying drivers of property performance change for each individual property. In some areas, an apartment building with a pool is a good investment; in others it won’t be. In some areas, paying extra for a large external area provides a strong and competitive point of difference; in others it is a waste of space and money.
This often misjudged principle can cause property investors considerable grief. A particular example springs to mind regarding a Blue Wealth seminar attendee who considered part, but not all of our recommendations and invested in a project we had approved. Unfortunately, they selected an apartment we had not approved and didn’t receive the exclusive incentives negotiated for Blue Wealth clients. When they learned of this, they tried to shift but sadly it was too late as contracts had been exchanged through a real estate agency.
You can lead a horse to water but you can’t force it to drink!