Six steps to successful property investment as Wakelin put Melbourne CBD on crash alert

An oversupply of apartments makes Melbourne vulnerable to a price correction, according to Wakelin Property Advisory director Paul Nugent.

"Those who are invested in high-rise apartments should definitely be concerned," Mr Nugent told the weekend Fairfax Media.

"The CBD already faces the greatest oversupply we've ever seen and that is saying something because we've followed the booms and busts of the high-rise sector for the last 20 years," he said.

He said CBD investors faced struggling to find and keep tenants, flatlining or falling rents, and negative capital growth.

Mastering the art of financing and the art of property selection at the same time is a complex process, according to the Melbourne buyers agent.

"Both processes are so complex that many prospective investors simply fail to launch because they are defeated by a process that asks them to master the art of financing and the art of property selection at the same time," said the negotiator with over 20 years experience.

"We found we could distil the process down to six major steps: financing and home equity; asset selection; negotiation; settlement; property management; and portfolio review.

"Buyers need to pass safely through each stage, and, as importantly, to synchronise their actions for the best outcome.” 

"We found we could distil the process down to six major steps: financing and home equity; asset selection; negotiation; settlement; property management; and portfolio review.