How to find the properties that offer the best relative value based on your needs that you have set out.
By now you have established the following:
- Your detailed criteria for your investment
- Value (what your money can get)
- Relative value, within the high-value options.
With your updated and refined criteria, you can establish tighter search parameters and set up alerts within your online portal of choice. You have developed a healthy relationship with your estate agent, and they know precisely the kind of deals you are looking for and will notify you as soon as they come across their desk.
You will keep searching, whether you are scanning the portals and listings once a day or once a week you will keep your search going, stay in regular contact with your agent. Tell people you are speaking with what you are looking for in an investment. You never know what someone might share with you. On several occasions, I have made deals happen for clients with an off-market property just because the people knew what I wanted.
As soon as a relevant property option pops up, endeavour to see it immediately. Now determine if it is worth further inspection or not. Keep your search going till you find options that are good enough to take on to the next step of inspections.
The higher your expectations are for what you want, the more likely it is your investment options might not always be available. Keep your chin up, keep positive and keep searching.
I'd love to hear some interesting stories of how you found some investments in the past. Let me know in the comments below or contact me directly.