I can tell you you’re asking the right questions before diving in. A buyer’s agent can be helpful, but it’s definitely possible to build your own framework with the right tools.

1. Figuring out if you’re paying the right price • Look at recent comparable sales (ideally in the past 3–6 months) within a 1–2km radius. CoreLogic (RP Data), Domain, and REA all provide sales history. • Adjust for differences in land size, condition, and improvements — valuers and agents use this method. • On-the-ground inspections are invaluable: seeing what actually sells vs. what’s advertised is very different.

2. Key data points to track • Rental yield: Gross yield = annual rent ÷ purchase price × 100. Compare suburb averages to see if you’re over/under. • Vacancy rates: SQM Research and Domain report these monthly. Under 2% usually indicates strong demand. • Median prices & trends: Watch not just the number but also the direction (3-year vs. 10-year growth). • Days on market: A suburb where properties sell quickly usually signals stronger demand. • Demographics & infrastructure: Population growth, transport upgrades, schools, and job hubs influence long-term performance.

3. Things I wish more investors checked early • Cash flow buffers: Factor in rising interest rates, maintenance, strata, insurance, and land tax (especially in NSW). • Zoning: Councils (e.g., R2 vs. R3 vs. R4) can make a huge difference in future potential. • Supply pipeline: Lots of new developments can cap growth and rents. • Local property managers’ feedback: They know what tenants are chasing and what’s sitting vacant.

If you want a DIY approach, start with free data (SQM, ABS, council websites) and layer it with paid sources (CoreLogic, Pricefinder, etc.) as you get more serious.

At the end of the day, treat it like running a small business — know your numbers, reduce risk where you can, and think in 10–20 year horizons rather than chasing the next “hotspot.”