26th September 2021

Hunting for Bargains

In chapter three of my book, I focus your mind on the issue of value. I explain that the value of anything is how much someone who wants to buy is prepared to pay at the time someone else needs to sell. I explain that you are going to need to do a lot of hunting before you find your first bargain. It isn’t all bad news though, because I teach you how to spot the people who need to sell at a discount. I explain that there are people who have other criteria besides getting the highest price – people who sell for many other reasons not related to price at all. You will read all about the different ways you can find the sellers that don’t go to agents, get in ahead of the agents and offer a quick sale. You will also learn about all the different ways of uplifting the value of your property and you will get my favourite calculation, the yield calculator – the way to work out very quickly in your head how much you should buy the house for. Lastly, I will give you a basic spreadsheet list of headings – you should make sure you use a spreadsheet because it will build into a comprehensive record of property values in your area.

1. Viewing: you should be prepared to view at least 50 properties before you find one that could work.
2. Estate agents: an excellent source of potential bargains – you just need to spend time building rapport and trust with them. Remember, they are obligated to the vendor, not you.
3. Getting rapport with agents: remember that they are supposed to be getting the best price possible for the vendor. Get to know them as an individual. Buy them lunch or just a coff ee occasionally. Off er them a lift to save them petrol.
4. Sourcing deals: newspaper ads. These can cost a bit but do go direct to sellers.
5. Leaflets: If you do them yourself it is time consuming. If you pay others it is difficult to control.
6. Networking: there are many and varied groups, all of which are worth a try so you can see which one you find the most helpful.
7. Bargains: to find a bargain you need to know your market. Get excellent knowledge of your investment area, find out what sells and at what price. A bargain is something you can buy at a price that is well below what you absolutely know you can sell it for.
8. Creating up-lift: you can do this in a number of ways – upgrading the bathroom and/or kitchen; creating an extra room (e.g. turning a garage into a bedroom); upgrading anything connected to energy efficiency; or putting an extension on the property.
9. Re-mortgaging: when you buy with a mortgage, you are usually forced to wait six months before your lender will let you re-mortgage.
10. Research and valuations: the two best sites for finding values and learning about market movement are Rightmove and Zoopla.

Interested to learn more?

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How Does a Blind Person Find His Way in Property Investment?

In chapter two of my book, I talk about the journey I had to take from being a piano tuner with a dwindling business and no pension to look forward to, to becoming a moderately successful property investor who has an income for life.

You will learn about strategies, goal setting, and sticking to the plan. Although property investors can be dazzled by lots of shiny new things, it is important to learn and understand the basics. For me, the basic principle you first need to learn and understand is how to buy, refurbish, fill, and refinance your investments.

With my book, Your Financial Freedom in Sight, I cover the key things you need to know in order to have a solid foundation from which you can grow your property investing experience.

Sound good to you? Click below to get a free chapter, or the whole book just for the price of postage and packaging.

Property investing basics from the start!

In the first of my ongoing weekly series of blogs here, I thought I’d share with you the first chapter of my book “Your Financial Freedom in Sight”.
It’s based on what I think is the most fundamental principle for anyone getting into property investing…Buy; Refurbish; Refinance.

This strategy teaches you about every aspect of dealing with: buying, negotiating, dealing with trades, and the things you need to know about: plumbers, electricians and general building.  Still to come are  finance, professionals like solicitors, mortgage brokers and lenders, banking… a whole new topic for another day.

After all that you also have the tenants – the agreements you must put in place, and the legal structure that makes it possible to get back possession when you need to.

And…oh, there’s soooooo much to know and I’ve realised something…it’s not all in this book. I think I should write another edition!
Anyway, please find below your link to a free chapter, and, if you want the whole thing free just keep on following me here and I’ll let you have a chapter with each post.
Thanks for reading and I wish you successful investing.
#property #mortgage #investing #strategy

Chapter One – You Can do it With Your Eyes Shut

Cover of 'Your Financial Freedom in Sight' by Steve Evans

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