How do you best search for the kind of properties you are looking to invest in?
Read on to see my recommendations for searching for exceptional properties.
In step two you determined your budget, now this is our first search parameter.
You have also determined your driving combination of property type and property location.
Start your search online:
This will provide you with the fastest sense of what the properties look like that match your criteria.
- Use tools like Onthemarket.com, Rightmove & Zoopla.
- All of these allow you to set your search parameters in reasonable detail.
- Keep in mind that often listing particulars are frequently inputted into systems with an error or two, so adjust your search parameters ever so slightly.
- Adjust your search price +/- 10%
- If there are insufficient numbers of units in your search range also adjust the number of bedrooms by +/- 1 on either end.
- If you still have an insufficient level of units adjust your search area out by a quarter mile at a time.
If at this stage you are still not getting any results, you have a couple of likely scenarios.
- First, your requirements are not in line with what is in the marketplace at this point.
- Second, that type of property stock does not exist in that area you are searching. Some areas have more of one kind of property stock than of another; some areas have very little to no fully detached houses where other have very little to no flats and so forth.
When you have the opposite happen, and you have far too many results, just narrow your target, you have the opportunity to be specific with your requirements.
You have established an underlying sense of what is out there.
Bring in an expert:
Now is the time to call your excellent agent that you built up a relationship with, in step five. (If you skipped that step, this would be the time to meet and interview some agents and get an excellent one on your team.) Have your agent send you his top options that match your criteria.
Explore the area:
Drive, cycle or walk through the area/s you are interested in (if you know the area well this will just reinforce what you understand and require significantly less time).
You should visit the areas at different times of the day. Also different days of the week. An area that seems like a lovely residential street at 14:00, might turn into a traffic-filled nightmare at 17:30. Weekdays and Weekends are also different – be aware of this if you are looking in proximity to schools as this can become awash with a thousand cars during the school run. (This could also be beneficial, it all just depends on what you are looking for)
Using something like OneNote, EverNote, Excell or merely a lever arch folder, collect all your shortlisted properties, put notes on them and any other pertinent information you have gathered.
You are now ready to move on to the next step, studying what your money will get you.
If you have your methods, I would love to know from you how you typically search for properties? How do you find your deals? Please comment below or message me.