Forget yields, purchase value and growth potential. OK, don’t forget those, but just put them aside for a moment.
Because the biggest opportunity in property investing in today’s market is… wait for it… opportunity. It’s the sheer number of deals that are currently out there to be had.
There are better properties becoming available at better prices than recent years and with more opportunity to negotiate a great purchase.
Engage the professionals
Good quality buyer’s agents like B Invested can amplify the opportunities in the market. Not only will they have access to bargain buy properties that never even make the market, but they know the best methods to nailing the negotiation on the properties that are on the market.
You want them to do the heavy lifting and present you with the end result, a ready made deal on the table.
And the money they save on the purchase may save you an extra year of repayments, and more than cover their fees.
Negotiating is a constant
Good buyer’s agents don’t just find properties upfront, they look to score points on your behalf throughout the whole process. Whether it’s inserting clauses into a deal to protect the investor, or continually going back and getting further price reductions in order to get the best deal, they have skills that average purchasers do not.
They know that the longer a property is on the market and the further that interest rates begin to rise, the keener a vendor will be to make a deal and the better the deal will be from the buyer’s perspective.
Don’t look back in anger
Climates like this one are great times to get deals, as long as you can service them. You don’t want to look back in 3 or 5 years after the next growth cycle and wish you had have nabbed deals while you had the chance.
Many Aussies are in very tough financial circumstances at the moment and not everyone will be in a position to invest. But if you are, and you can service debts and come out the other side, you’ll reap the rewards.
B.Invested founder Nathan Birch likens searching for property deals at the moment to going shopping at an off peak time in the middle of the day. You have a lot more choice, all to yourself. You are more likely to get discounts and you’re not competing with a crowd for a small amount of stock at high prices.
Why would you go to a supermarket on the weekend when all the parking spots are gone and people have snapped up all the discounted goods?
It makes no sense right? Well, neither does trying to buy property in a market at the top of its growth cycle with plenty of competition bidding up the price even further. The market conditions in a lot of places right now are more like the supermarket in the off peak period than the crowded frenzy…so why not go shopping now?