Jeremy Iannuzzelli is the first to admit that he’s a research freak. Unlike some investors who are able to take the plunge by simply doing rudimentary calculations and research, Jeremy insisted on going through rigorous due diligence right from the very start.
This means spending a whole year learning about the property markets and attending open houses to get a feel for what’s selling and for how much.
“I was about 22 years old when I started investing in property. I’m now 26. Before I bought my first investment property, I was attending a minimum of five open houses each weekend. I’ve attended many auctions, not bidding but just looking and observing. I’ve probably viewed at least 250 properties during that time.
“I spent that time getting my foundations right because I believe that the first property is crucial. You can only get one shot at it. Yes, I know property is for the long term, but my strategy is to build my portfolio quickly and safely, so I wanted to make sure I don’t have bad eggs. So I’ve decided to spend time to do the research, understand the market and what I want, and when the time comes I’ll know,” he explains.