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How to find bargain properties

By Staff Reporter
0

Nick Viner Buyers Domain

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Everybody wants to know how to find a bargain. So this is actually a very difficult question to answer. I think the first thing is that you've really got to be prepared and you've got to know how much properties are worth. From there you've actually got to be able to, in a sense, sniff out the bargains. If a property is advertised as a bargain there's every likelihood that by the time all the other buyers have flocked in like bees to a honey posits probably not going to be a genuine bargain. So the genuine bargains are probably properties that are going to go a little bit more under the radar and you've got to find out information such as what are the motivation levels from the vendor - maybe they're in financial difficulty and they really have to sell. So finding out all these sorts of questions is going to help you determine whether or not you may be able to secure the property at a bargain price and then what you do is you make an offer and you prepare to walk away at that price. And it's only then if you're amazingly low offer gets accepted that you can confirm whether or not that you've actually secured the property at a bargain price.

 

 

 

Listen to other instalments of The Smart Property Investment Show:
Episode 65: Real estate agents: what separates the good from the bad?
Episode 64: How this investor learned from a property blunder
Episode 63: Q&A session: the SPI team answers your questions
Episode 62: Property procrastination: the importance of finding help
Episode 61: The ins and outs of strata: what buyers should consider
Episode 60: The pros of using a buyer's agent: why this investor brought someone in
Episode 59: How to invest in property as a team: two investors share their secrets
Episode 58: When do you stop investing? The SPI Show answers more listener questions
Episode 57: Wealth creation through property: trends and themes to think about in 2017
Episode 56: The SPI Show accountant reveals all: How to pick your financial team
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