Here is the fourth and final episode of The Players’ VIEW Series with North Melbourne Veteran, Drew Petrie.
In this episode, the Roos’s forward talks about buying his first investment property and how he learnt the ropes from those around him.
Drew states, “I’d heard of negative gearing and it just went straight over the top my head…I didn’t know what it meant.”
Investing is all about taking calculated risks by doing your research. So with his father in the real estate industry, Drew’s first investment was in his hometown of Ballarat. However, even with industry knowledge from his dad, the property didn’t have the return he had hoped for.
Drew discusses, “Ballarat’s capital growth isn’t at rate of Melbourne and other Metropolitan cities around the country. After 4 years I decided to sell that property just because it wasn’t as aggressive as I had hoped.”
The first investment isn’t easy for anyone so after a first attempt in Ballarat, Drew bought another property in Melbourne’s Inner North. This property has performed well for the footy veteran to date. He spoke to us about the process of finding a property and how important research is to the success of an investment.
“It’s a lot easier the second or third time around because of the accessibility. To do market research, jump on realestateVIEW straight away and you can find properties, you can check how the market has been, you can compare properties and you store your favourites. We’re all time poor so it’s a lot easier now to almost have the website do all the work for you.”