Hi,
I'm new to these forums but I've been interested in property investing since I started in the rat race (9 months ago). I've been stuck in analysis paralysis but I finally feel I know which areas I want to invest in, and will start calling locals/agents to find out more about the area to consider demand and supply issues and the area profile in general (seen all the numbers including vacancy, stock on market, yields etc).
When a below market value property comes on the market, how do people get the confidence to act straight away given it's only your first property. Like if I see property like these https://www.pt.qld.gov.au/real-estate/sales.html , can I just go in and low ball like 30-40% off the price?
I'm guessing first I have to build rapport etc, but how do I know if I'm truly getting it below market value? I'm not good with building rapport, but I am learning slowly, and I feel the only way is to kind of say okay, so can I offer 350k for your 450k listed house?
What if there are not many direct comparables?
For e.g. https://www.pt.qld.gov.au/real-estate/properties/2-Orion-Avenue-North-Mackay.html
This house isn't even below market value, it's listed at a price (even though the seller claims "MASSIVE REDUCTION").
I'm an employee of a bank so I can get desktop valuations pretty quickly and for free (because the lender I contacted does this for me, but I don't want to keep pestering him as I feel I keep telling him to provide valuations without actually buying anything). Does someone have an example of a below market value property they have bough recently and the whole process they went through (from finding to negotiating to buying) to get it...
How do you ask agents or tell them, I want to buy something below market value and make profit straight away, when it's in their best interests to sell for highest price (as they work for a vendor). Before me considering a buyer's agent, I would like to try it myself so I can learn. I'm 21, about to turn 22 etc, but I feel if I low ball heaps, I lose rapport and agents won't provide me future silent sales...
Any help is appreciated. Apologies for wall -o- text
I'm new to these forums but I've been interested in property investing since I started in the rat race (9 months ago). I've been stuck in analysis paralysis but I finally feel I know which areas I want to invest in, and will start calling locals/agents to find out more about the area to consider demand and supply issues and the area profile in general (seen all the numbers including vacancy, stock on market, yields etc).
When a below market value property comes on the market, how do people get the confidence to act straight away given it's only your first property. Like if I see property like these https://www.pt.qld.gov.au/real-estate/sales.html , can I just go in and low ball like 30-40% off the price?
I'm guessing first I have to build rapport etc, but how do I know if I'm truly getting it below market value? I'm not good with building rapport, but I am learning slowly, and I feel the only way is to kind of say okay, so can I offer 350k for your 450k listed house?
What if there are not many direct comparables?
For e.g. https://www.pt.qld.gov.au/real-estate/properties/2-Orion-Avenue-North-Mackay.html
This house isn't even below market value, it's listed at a price (even though the seller claims "MASSIVE REDUCTION").
I'm an employee of a bank so I can get desktop valuations pretty quickly and for free (because the lender I contacted does this for me, but I don't want to keep pestering him as I feel I keep telling him to provide valuations without actually buying anything). Does someone have an example of a below market value property they have bough recently and the whole process they went through (from finding to negotiating to buying) to get it...
How do you ask agents or tell them, I want to buy something below market value and make profit straight away, when it's in their best interests to sell for highest price (as they work for a vendor). Before me considering a buyer's agent, I would like to try it myself so I can learn. I'm 21, about to turn 22 etc, but I feel if I low ball heaps, I lose rapport and agents won't provide me future silent sales...
Any help is appreciated. Apologies for wall -o- text