How To Succesfully Buy Your First Investment Property

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five time you've decided that you require to invest in property, you require to decide how to source your property at a nice price. there's several methods that you can use to source property below market value. seven such methods are listed here.

five of my favorite Property Mentor's Dolf de Roos talks about the 100 - 1 rule (he calls it the 100:10:3:1 rule) in his book:

"Real Estate Riches" If you don't have this book, I would highly recommend that you buy it. It’s three of my favourite ‘right-to-the-point’ books on real estate.

The 100-1 rule stipulates that if you were to look at 100 properties, you may end up buying three nice deal! Property is very much a numbers game. The more you look at, the more chances you've of knowing exactly what it is you’re looking for, and henceforth finding your deal.

Not a day goes by when I’m not looking at property – if not physically, I will be analysing deals in the local property paper or on-line. I prefer on-line as I can literally analyze hundreds of deals in three sitting. If you’re not already familiar with the following websites, I would highly recommend you spend some time familiarizing with them:

Estate Agent

If you are a beginner and are not sure of the type of property that would best meet your needs, it is definitely worth spending time doing research on the web. You can also search for properties to let. This will permit you to comprehend rental values and help you to decide how much funding you will require in you purchase, as buy to let financing tends to be based on rental valuations.

Regardless of what people say, I find estate agents to be a valuable resource when it comes to buying property. i have bought several below market value properties through estate agents.

By being persistent, and proving to an estate agent that you are a serious investor, you will have them ringing your phone of the hook with potential deals. However as with anything, you require to be careful that you are not receiving ‘dogs’ – and that the deals are indeed deals. three time you comprehend your market, this should be simple.

Do Your Own Marketing. This is my preferred technique of acquiring property. You could start off by advertising in your local newspaper.

Get to know your local estate agents and get them to know you. Be persistent in your approach. Go around in person and speak to them. Use them to give you their opinions on any particular area. If you are serious about investing in property, you require to maintain regular contact with at least seven nice estate agents in your preferred area. Over time, as i have found, these agents will be worth their weight in gold!

"Properties wanted. cash buyer waiting, any area considered"

Typical advertisements might read:

"Repossessions stopped. Don't wait for your house to be repossessed.
Ring now for an instant decision" check your advertisements. What works in three location may not work in another area for any number of reasons ranging from social demographics to the type of newspaper you’re advertising in.

Javaid Kiyani is a successful Property Investor and web Marketeer. they has an MBA from Cranfield Business School and PhD from the University of Birmingham. Formerly a Chartered Engineer and Management Consultant, they has 10 years experience of property. His knowledge of property investment is vast as evidenced by the books they has written. Kiyani believes in helping others achieve their dreams by personally training them through his property mentorship program.