Presentation on theme: "MATT JONES WWW.PROPERTYRESOURCESHOP.COM 7 Strategies for Finding Deals In A Hot Market."— Presentation transcript:
MATT JONES WWW.PROPERTYRESOURCESHOP.COM 7 Strategies for Finding Deals In A Hot Market
Disclaimer All information provided in this PowerPoint presentation is general information only and is not intended as financial, accounting or legal advice. All viewers are encouraged to consult a licensed financial planner, accountant and lawyer prior to making any decisions regarding their financial situation.
Finding Deals in a Hot Market Before you start looking for a deal get crystal clear on why you are investing Sounds backwards but try this: Spend some quality time on working out your emotional reason for investing – the more feeling the better! How much income/cash do you need to achieve that goal? What strategy will get you to that amount? What type of property do you need to look for that fits that strategy?
Finding Deals in a Hot Market How do you know what a great deal looks like? Becoming an Area Expert instills confidence Get a log book (digital or paper & pen) Clarity on what your deal needs to look like Set goals, targets but be open to opportunity Numbers are everything, the more deals you look at the better you get at knowing when the numbers stack up
Finding Deals in a Hot Market Area Expert Strategy Use a log book and track the deals Get a map of the area you are looking in and pinpoint the median prices on each suburb on the map and use a colour code key This will clarify the high, medium and low growth suburbs From there you can start focusing on a suburb that is surrounded by high growth suburbs to capitalise on the potential flow on growth
Finding Deals in a Hot Market – 7 strategies Leverage! The more irons in the fire the more chance you have of finding a great deal. Looking at realestate.com.au after work or on weekends is a part time effort which yields a part time result
Finding Deals in a Hot Market – 7 strategies 1. Letterbox drops Shotgun approach and can cost up to $1000 if you are not doing it yourself 1% return is common which seems low but you only need 1 sale to make it worth it To avoid the shotgun approach do some research on the property first you want to buy first and then target them specifically Try door knocking or use agents to approach vendors for you
Finding Deals in a Hot Market – 7 strategies 2. Talk with and educate real estate agents Be clear about what you want If an agent brings you a deal, work with them Crunch the numbers regardless and explain why or why not you want to go ahead with the deal Leave a card with them Call them once a week so they don’t forget you Show your appreciation
Finding Deals in a Hot Market – 7 strategies 3. Look outside your property circles Everyone needs to buy or sell their property no matter what the market is doing. Eg divorce, upsizing, downsizing etc You might know someone in your activities outside your property networks that fits into this category You don’t need to be asking everyone you meet if they have a property to sell, it may just come up in conversation so listen to what their needs are and see if you can help Use this mantra: “You are in the right place at the right time with the right person for the right deal.”
Finding Deals in a Hot Market – 7 strategies 4. Networking Groups Be open with your intentions Help others get what they want Regularly attend and stay in touch with members
Finding Deals in a Hot Market – 7 strategies 5. Buyers Agent Paying a fee for this service is valuable when they can save you the time in finding a deal If your deal finding skill is lacking a buyers agent is a great person to have on your team Be clear about what you want Respect the agent by providing feedback on the deals they are bringing you
Finding Deals in a Hot Market – 7 strategies 6. Free online tools Email alerts on realestate.com.au and domain.com.au Be on the relevant agents email list to receive the info a few hours before it goes live on the internet Google Maps can show block sizes and configurations if looking at subdivision Relevant council websites have good online mapping integration tools to drill down on specific sites
Finding Deals in a Hot Market – 7 strategies 7. PriceFinder (Paid online resource) If you’re serious about property investing, you should have one of these online resources Referred to as x-ray vision for property investors! Keeps you ahead of the pack Find out information not in the public domain eg past sales history to work out owners debt level to assist with your offer and negotiation Comparative sales in the street and suburb Specific filtering tools to find eg splitter blocks Specific search functionality to find motivated sellers To read more about getting access to PriceFinder go to: www.PropertyResourceShop.com/Pricefinder