Getting out to look at property is part of the research before buying. It may be that you intend buying a property as a hold, or it may be that you going to buy, renovate and sell. Therefore, the big questions are “How do you add value?” and “How much will the renovation cost?”. If you’re buying a property to trade (renovate and sell) then its also essential to know who your buyer is going to be – home buyer or retail investor?
And of course, the most critical question that differentiates us from speculators, is knowing the market. A huge part of the job is knowing what properties are selling for right now – not three months ago. Real-time sales information, and a lot of it, means you have a much better feel for what the property will be worth, realistically, after you have completed the project.
So there are a number of ways you can assess a property, and when you’re not part of a community of people, then my experience is you’ll be making offers on properties with loads of conditions – subject to a LIM, a building report or finance are common practice. And its for this reason that you may have experienced frustration in not being able to get your purchase over the line.
The great thing about RoadTrips is you get mountains of ideas, loads of shared experience on what to do and what not to do, an instant understanding of what your renovation budget needs to be, input from a group of people who share and discuss recent sales and so much more…
And there’s always the fun side – check out our members only roadside assist!