podcast

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 73: Bad builders: how this investor bounced back
Episode 72: Policy changes to interest-only loans: what buyers need to know
Episode 71: How this 'stubborn' investor recognised a property lemon
Episode 70: How this investor complements each property and balances his portfolio
Episode 69: Are you a ‘lazy’ investor? Consider the benefits to working with a financial team
Episode 68: Special episode: audience discussion live from the Property Buyer Expo
Episode 67: Don’t get ‘caught up in the now’: an expert reveals his tips for success
Episode 66: Wealth distribution: how should you manage your money?
Episode 65: Real estate agents: what separates the good from the bad?
Episode 64: How this investor learned from a property blunder
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