Hi Guys,
I’m new to property investment. I have been doing some research, but cannot seem to find the good sources for properties. There are alot of people out there looking for property deals, so competition is there and the need for us to be on the ball. Can I ask you guys where do you look to find investment properties – internet, paper etc?
Hi Jseses,
The key point is to know what you are looking for first – otherwise it is highly likely that you may miss ‘it’ anyway. As such it is important to have some key attributes you require in your property as this will also help narrow down your search area.
Once this is done you can then use the Internet and scan papers as you are already doing but the better deals generally do not hit the advertising media.
The better ‘deals’ tend to get offered to people who have developed a business relationship with an agent who fully understand that persons criteria and will ring them when such a property comes onto the market.
Other people employ the services of buyers agents and the like to do the leg work. Whereas there are many others who prefer to do the legwork for themselves.
If you are looking for positively geared property then you will have to extremely hard.
Derek
[email protected]Property Investment Support Available. Ongoing and never stopping. PM welcome.
Here’s the most important secret about property investing…..
It’s not about the property. It’s not even about the type of property.
It’s about knowledge & networks.
Find an area you like. Get to know the agents & locals. Understand the market’s movements, history and prospects.
Then pick up the bargains as they appear.
Once you have the knowledge & networks in place you’ll be able to identify the bargains and may even be offered some before people who simply surf the property pages even know whether the property is good value.
In some areas you’ll find the best value with houses, in others it will be units. The most important thing is that you KNOW what is and isn’t a bargain and can NETWORK yourself into appropriate deals.
Cheers,
Aceyducey
[cigar] Thats the million dollar question. Look for them on the internet, local papers, major newspapers etc. So if you are already looking on the internet and the paper, then you are doing what the rest of are doing.. I think the problem is to be able to recognise the right property for your circumstances.
Cheers
JulesJULES1
Email Mejseses,
Here’s a new weblink for a search engine:
It’s by the Sensis Group (white and yellow pages and they also have the Trading Post online). Currently, justlisted only covers sydney and regions, but soon it will go national.
I find properties online. If I ring a RE and inquire about a property online, that might lead me to hear about another property that has “just been listed”. Many people on here travel to find places not advertised on the net, but for me, it’s satisfactory to find props online
kay henry
Oh, by the way, jseses,
All newspapers are free online anyhoo these days.
news.com.au
smh.com.au
theage.com.au
theaustralian.com.auNews and the australian are one and the same basically, as is smh and the age- same publishers, different states, but their search engines are the same.
kay henry
Frankly I’m finding now that I’m getting to the point where the deals come looking for me.
Get the networks & knowledge in place.
Looking through papers & sites for property is what the other 90% do.
Cheers,
Aceyducey
Originally posted by Aceyducey:Frankly I’m finding now that I’m getting to the point where the deals come looking for me.
Get the networks & knowledge in place.
Hi Acey,
I dare say one of the reasons this occurs is because you know what your investment goals are, where you portfolio currently stands, your borrowing capacity and so on – and as such you are in position to reasonably quickly say ‘yes’ or ‘no’ – thereby enhancing the value of your networks.
Derek
[email protected]Property Investment Support Available. Ongoing and never stopping. PM welcome.
G’day Acey,
I agree with all the above. One thing to bear in mind though is that if you use any type of a buyer’s agent bear in mind that it’s no ‘charity’ and you’ll be buying retail, not wholesale. This may not be so much of an issue if you are looking long term and neg geared. One person who I respect put it so plainly that if the higher the purchase then the higher the commission they will receive. I don’t know anyone in this game who would take a lesser commission to buy you a ‘cheaper’ property if they could earn more commission on a more expensive property. Also if you’re in this for all it’s worth you’re are also denying yourself all the important hard yard lessons that will be of great benefit to you along the journey.
Cheers,
Gatsby.Originally posted by Gatsby:I don’t know anyone in this game who would take a lesser commission to buy you a ‘cheaper’ property if they could earn more commission on a more expensive property.
I’m not an agent, but I think that might be a big “if”.
From what I’ve seen written, turnover is more important to an agent than individual commissions, so if a lower commission allows them quicker deals and thus higher turnover, it’s probably better than less deals with higher commissions.
But as I say, I’m not an agent so don’t speak from experience.
GP
Gatsby,
I’m not advocating using buyers’ agents.
It’s the REAs, neighbours & friends who come & offer us the deals before they hit the market.
Frankly I see extremely limited value in buyers’ agents. Most people using them would be far better off making the time investment in their own future financial success, not trying to employ another type of consultant to succeed for them.
I also feed myself & wipe my own backside on the toilet rather than employing consultants to do those things for me as well.
Cheers,
Aceyducey
Originally posted by Aceyducey:Frankly I see extremely limited value in buyers’ agents. Most people using them would be far better off making the time investment in their own future financial success, not trying to employ another type of consultant to succeed for them.
I also feed myself & wipe my own backside on the toilet rather than employing consultants to do those things for me as well.
Touché Ace!!! [medieval] Eloquently put!!! [specool]
Hi Acey
Yes i agree with what you have suggested. I also would say that not everyone has the eloquence to embark on creating networks. How does a beginner start.
I ask because i recall network marketing companies that would say anybody can do it showing a housewife in rollers and a fag next to her porsche outside her coastal mansion.
Reality is alot different.
So haveing been there down that so to speak how did it start adn then to get the deals coming to you.
I have read Steve Mcknight say the same thing but with his volume of inveting i could understand. But to people just beginning? Can you give some insights.
Kind regards
AlfI’m not the best networker around. In fact I don’t think I’m a particularly good natural networker. Because of that I’ve had to learn to do it the hard way (and still are).
Everyone can become better at networking.
IMHO the essence of networking is conscious (or active) communication. Communication where you are conscious of what the other person is saying and what they are meaning. Where your brain is engaged & you are choosing your words and actions in a free-flowing & natural way. Many people don’t think about what they are saying, their minds are elsewhere thinking about other things.
There are a couple of ways to train yourself to be a better networker.
Look into the network marketing organisations. They often have very well developed networking tools & systems…after all their business is really training people to network, not selling products. See what you can use. The investment in some products is worth it for what it teaches you.
Read some books on body language, effective communication and how to dress. Then APPLY the principles in your conversations.
To get networks started, join community groups, actually talk to people at your work, don’t simply interact with them. Ditto with your friends – it’s often amazing how much peoples’friends actually know and who they know but is not ever discussed. Speak to people at conferences, on the bus, wherever.
And make sure that you’re spending most of the time listening & asking open questions (ones that require more than a yes/no answer).
To get real estate agents to come to you you need to basically build up your credibility as an investor. The best way to do that is to know what you’re talking about & be actively investing so they see you’re for real. Then it just takes time.
Cheers,
Aceyducey
Hi Guys,
Thanks for your replies. I think I know where to go from here.
Jseses
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