Property Investment Opportunities
Thank you for joining me today with this update on Property Investment. One of the most important things in this current economic time is the fact that it is hard for some people and it is easy for others. Although I might add there are probably more people hurting than there are people not hurting.
It was once said in a movie “Life is like a box of chocolates Jenny”, well I have something for Jenny Life is certainly like a box of chocolates so long as you plan and put Strategies in place so that later on in life you can face the downturn in uncertain economic times.
People are quick to put a person down that plans and puts strategies in place, well let me tell you this, most of those people that put the successful down are those that have nothing, in other words they are jealous and always negative. I myself sit back and say to myself I have to get to know that person because they are always happy they are always full of life and they are full of excitement. Isn’t that the type of person you would like to be around.
So I say to you then, why can’t we all be like that, easy to say isn’t it, the fact of the matter is, it will never happen, there will always be people that will make excuses for not being able to move forward successfully with their life, they are simply happy to stay in the zone they are used to.
Plan and Strategy
What I’m about to say here is this, we need to plan for the moment and we need to put strategies in place so that we can meet the demand in the high times and also take advantage of the low times. There are many ways that we can do this and one of them is to look for and study the Real Estate Market, let me tell you this, there are some good buys on the market now and for the buyer there are a lot of opportunities out there. I will give you some tips on what you can do to better put yourself in a good position to buy.
- Never put an offer in on a property subject to the sale of another property, this will not put you in a good position to get a good buy.
- Make sure that you have a large deposit, generally your agent should be asking you for a deposit of up t0 10% of the purchase price. (You know people often say “but the last time I bought a property I only put $500.00 down for a deposit), wouldn’t it be better, that you make your deposit as large as you can to give the seller the feeling confidence with you. This may also show to the Seller that a early settlement date can be achieved and in some case may get a reduction in your offering price and get the contract signed and accepted.
- If you are buying privately you have a better position as far as negotiations go. However having said that an agent can take a lot of the hassle from you as the buyer and the seller. If they are doing their job properly you will be comfortable knowing that all the correct documents have been filled in and the right questions and answers have been attended too. Having an agent is your insurance that everything is being done properly and to the letter of the law if it is not, and the agent is at fault they can be sued in a court of law.
- Always make your settlement date as short as possible.
- Before you even think about buying a property go to the bank and talk to them, let them know what you want to Borrow and get them to give you a letter of pre-approval, this helps you in 3 ways,
1. You know what price you can pay for a property.
2. You build confidence with the seller of the property.
3. You are able to have a shorter time to get finance approval confirmed.
The Final Strategy
The final strategy for this week is, the best possible way to get a good buy is to be in a cash position to buy with a short settlement. This will most certainly get you into the property of your choice. Have a listen to these 2 people have a discussion on what the buyer has achieved in the last 7 years. This could be you in the same amount of time.
Places that I suggest to search
Places that I suggest that you search when you are looking to purchase a property can come from the following property sites.
The website is the best place to look for properties, news papers are a quick source to get your attention but the web site is more detailed. My property of the week is this property URL:- Property of Interest for this Week
Other tools that will help you in your investigation is a site that I quite often go to it is a good site for Representatives to go as this will help them to promote and look for buyers and sellers.
With this information that I have given to you today will guide you to some very good investment properties in the area you live. I encourage you to do your homework on whatever property you are interested in, the information that I have given to you here is from my experience only and is not in any way suggesting that you use the information contained in here. You must always do your investigation properly, making sure that the bank and accountant have been involved.
I have enjoyed giving you some ideas for you to follow please leave your comments below. I will look forward to reading them, all encouraging coments will help me to continue writing for you.
Regards Richard Colum