When it comes right down to it, every investor wants to know how to find the perfect property that’ll set you up for life. We ask a buyer’s agent for his insights.
When investors are looking for property to add to their portfolio, finding the gems hidden in the marketplace is a top priority, but how can an investor do it?
According to buyer’s agent Paul Glossop of Pure Property Investment, there are two things investors need to consider; “What market are you buying in and what is the gem in that market?”
When first looking into the potential market, Mr Glossop said to watch out for cheap markets, as that may be indicative of a “dud market”.
“Before you start talking about property, obviously you want to talk about what the hell is your strategy and why are you buying any type of property and what kind of property do you need,” Mr Glossop said.
“Then, once you've got all that ironed out and you know what you've got to spend, you know what type of property you want to be buying and the suburb, that suburb should do the majority of the heavy lifting.”
After determining the market, investors then need to know what the most in demand property is. Following this, Mr Glossop recommended focusing on building relationships.
“That is key [and]… how we predominantly get off market opportunities is relationships with multiple agents within those markets who have stock they have to shift for whatever reason, and that's when you get the opportunity to buy well, buy cheap and buy quick.”
Another recommendation Mr Glossop made is to find a buyer’s agent, which can act as a proxy for investors, which while costly, can be worthwhile for investors. To find out more, click HERE.