Hi Striver
When trading its true you never know when you will find the next great deal thats for sure and it can be seriously frustrating to say the least when you are looking and looking and can't find anything that adds up. Pretty much every year I am not sure if I will find another good one. But my partner always says - well if you look back we have found good deals every year so we will again this year and we do.
There is always opportunities. Last year we got 4 fantastic deals and I don't see any reason why we won't do that again this year if we look and focus hard enough. There are people out there making a living from property so it is a viable business.
The opportunities have come for us when we can use our experience to see how we can do-up a place for less than others may think and get it to be worth a lot more than you would first imagine. Also with our knowledge now about subdividing in our area we have been able to buy at what looks like market value but with the knowledge that we can create a new section etc out of it that not everyone may realise or want to do.
Sometimes in the height of the market there is actually more opportunity with trading. If you think about it there is never one set price for a house - theres always a range, one person will pay more than another if its worth it to them. So if you can be in quick and get it under priced a little or see a twist it can be easier to sell it on again higher than in a slow market. Also don't underestimate the way value can increase with cosmetics - a tenanted dirty cluttered house can look way different when you clean it up, do the gardens and house dress it. Also we have done well by turning a 2 bed into 3 bed to increase price if it is spacious enough to take a bit off the lounge or change the layout.
Definitely you need to have your funding ready so you can make quick clean offers. In the quieter market you can take your time and put in more clauses but now we don't have that luxury so much. Usually if it looks good, we get down there asap but first I call the council to check on permits so we dont need a lim and look up the section size, etc on the internet. We do our own building check when we are there, or allow a bit for anything we are unsure of. We have revolving credit funding off our equity so that the money is there mostly so can go cash unco if we want to. Also you have to be a bit pushy sometimes with the agent to get them to write it up there and then and not take their time.
I have private messaged you so you can just reply to that message if you like - look at the top of the page under Notifications or Private messages and it should be there.
cheers
Pegasus
When trading its true you never know when you will find the next great deal thats for sure and it can be seriously frustrating to say the least when you are looking and looking and can't find anything that adds up. Pretty much every year I am not sure if I will find another good one. But my partner always says - well if you look back we have found good deals every year so we will again this year and we do.
There is always opportunities. Last year we got 4 fantastic deals and I don't see any reason why we won't do that again this year if we look and focus hard enough. There are people out there making a living from property so it is a viable business.
The opportunities have come for us when we can use our experience to see how we can do-up a place for less than others may think and get it to be worth a lot more than you would first imagine. Also with our knowledge now about subdividing in our area we have been able to buy at what looks like market value but with the knowledge that we can create a new section etc out of it that not everyone may realise or want to do.
Sometimes in the height of the market there is actually more opportunity with trading. If you think about it there is never one set price for a house - theres always a range, one person will pay more than another if its worth it to them. So if you can be in quick and get it under priced a little or see a twist it can be easier to sell it on again higher than in a slow market. Also don't underestimate the way value can increase with cosmetics - a tenanted dirty cluttered house can look way different when you clean it up, do the gardens and house dress it. Also we have done well by turning a 2 bed into 3 bed to increase price if it is spacious enough to take a bit off the lounge or change the layout.
Definitely you need to have your funding ready so you can make quick clean offers. In the quieter market you can take your time and put in more clauses but now we don't have that luxury so much. Usually if it looks good, we get down there asap but first I call the council to check on permits so we dont need a lim and look up the section size, etc on the internet. We do our own building check when we are there, or allow a bit for anything we are unsure of. We have revolving credit funding off our equity so that the money is there mostly so can go cash unco if we want to. Also you have to be a bit pushy sometimes with the agent to get them to write it up there and then and not take their time.
I have private messaged you so you can just reply to that message if you like - look at the top of the page under Notifications or Private messages and it should be there.
cheers
Pegasus
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