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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 52: Will property prices fall? When? And by how much? What investors need to know
Episode 51: SPECIAL EPISODE: SPI team reveals all the financial details of its portfolio
Episode 50: 8 properties by 25: Former housing commission kid reveals how he changed his life and created wealth
Episode 49: How to build a sophisticated multi-property portfolio
Episode 48: ‘From just $2,000 in my pocket to 6 properties’
Episode 47: The SPI Show answers more listener questions: Special episode
Episode 46: 4 properties by 24 – how to build a portfolio without sacrificing fun, travel or food
Episode 45: Special guest Mark Bouris on what really makes property prices rise and when to invest
Episode 44: ‘11 properties by 31, now I’m stuck: What’s next?’
Episode 43: 22 properties by 30: Can Generation Ys build massive portfolios?
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