So, what do you look for? When you talk about train stations, and what are you actually looking for when you’re considering the fundamentals of a train station when it comes to your investment property? And I think, look, having a train station is fantastic. It really does top off and set the fundamentals. But I think one of the problems we have with our salesmanship, and a lot of people get, is that, you know, how far is too far to include a train station? And, you know, for me, you know, you’ve got anywhere sort of obviously the closer to the train station, the better, you know. Without a doubt.
If you’re within five minutes, that’s totally acceptable, okay, anywhere in the world that I’ve been. You know, 10 minutes, you know, is also pretty cool. But some of the areas, you know, something, like, if you talk about 10 minutes from a train station in Australia, most of Australians will be like, “Yeah. That’s probably a bit far.”
If you’re talking 15 minutes, that’s where probably the cutoff for, you know, people will walk 15 minutes. Now I know people will walk longer. They will. But when you’re talking about fundamentals that impact your investment, 15 minutes is a bit far, okay? Now, depending on where you are in the world, because obviously if I look at say Australia, which I’m driving along now, you know, outside on Ipswich road heading out to my parent’s place, you know, there are train stations probably half an hour walk I would say between each other.
So, you know, that’s quite… I mean, you know, the train system in Queensland, in Australia or Brisbane, is not actually that good, and not a lot of people use it. Most people use cars in Australia. Whereas if you go to the UK, you know, if you walk half an hour, you’ll probably going to come across at least three or four, you know, underground stations.
If you’re talking London, you know, maybe an overground station, but then if you went outside, you know, it could be half an hour as well. So, you know, it just depends where it is. What fundamentals. When you talk about train stations, excellent fundamentals, excellent impact on fundamentals, and certainly it’s great to have those fundamentals there. But I think about 15 minutes is the cutoff walk, that is. Okay.
If you’re talking about a drive, well, you know, a 15-minute drive is probably a bit far, too, you know. Ten minute’s drive? Yeah, people will be signed and, you know, we generally include stuff that’s up to about 15 minutes. That’s sort of the cutoff ish. We made chuck in the 20 minutes so people can see that they’ve got multiples because we don’t just show one train station, we’ll show multiple train stations, okay?
But when you’re doing the research, and this is what to look for, because I’ve seen train stations before that actually run one train an hour and only in the mornings, you know. And it’s almost to get people to work, but in the afternoon, the train station is closed. And you’re, like, “Well, is that really gonna add to the fundamentals and the best thing for that property? And not really.
So you’ve got to make sure, when you look at the train station, if you’re looking to buy in that area, go the next step of detail and actually look at, okay, what times they’re open? What trains run? Is it from, you know, 6:00 AM in the morning till 10:00 PM at night? Is it only in the morning? Is it one train an hour passes by? Is it express into the city? So, you know, or into the…where are the fundamentals, the central fundamentals are? So, you know, is it express, or does it stop at every single station, and therefore it takes 40 minutes to get into where you need to get to?
All these things are things that you need to consider when you’re looking at how a train station affects the fundamentals of your property and therefore fundamentals. Therefore price, okay? So when you factor in all those, you can sit there and make the best guesstimate about the impact of that train station on your investment. All right, guys, have a great day. Live with passion, and remember, subscribe and comment. I’ll be happy to answer.