5 Steps to Bargain Property Hunting (BMV Deals
I started property investing when I was 17 years old from a working class family and at 25 years old, I was a millionaire.
I’m now 29 years old a multi-property millionaire and I’ll be sharing with you the five steps that you can find property investments
Right now is a very good time to find bargain property investment even if you have no money.
You can find a house that’s worth two hundred thousand pounds and negotiate the price to 150,000 pounds. That’s a 50,000-pound discount.
52, 000 properties were paused from being sold during lockdown and now that the lockdown is over, estate agents are open, viewings are going ahead and there are juicy deals on the table for investors.
Here are the 5 steps to bargain and find property investments.
As a property bargain hunter what do I mean by qualify?
You need to qualify the sellers and don’t just start viewing houses for the sake of it and putting forward offers
You’ve got to speak to them beforehand and make sure that they are motivated.
Check and see If you were to offer 80% market value, would that be something that your client would be interested or open to?
If you’ve got cash in the bank qualify yourself by showing the estate agent proof of deposit and your solicitor details as it saves a lot of time and means that you’re going to be putting yourself in the right place at the right time.
Listen Then Ask Questions
Don’t speak first when you’re at the viewing just listen to the seller’s problems.
Listen to what their story is, how long they’ve been trying to sell the property and why they’re trying to sell as your job is to be a detective and find out their situation.
Don’t put forward the offer first. Let them speak and ask what they’ll accept if you were to buy the property cash tomorrow.
So many times I’ve had situations whereby there’s been a house on the market for a 200,000 pounds I’ve given my offer say 180,000 pounds and thought 20,000 pounds is my discount but they say yes and I’m like what would have happened if I’d said 160,000 pounds?
Therefore, don’t speak first or put forward the offer and when you speak usually ask questions.
Expect to Be Rejected
If you want to be successful in property or want to find some deals, you’re going to get some rejection first.
You’re going to get a seller saying how dare you offer that?
Therefore, expect that in Britain as we are too polite and don’t like to hear the words No.
If you’re not embarrassed about your offer, prepare yourself to be rejected as that’s part of the fun.
It’s like when you’re haggling at the marketplace walking around and trying to haggle that’s the same way with property.
Property investment is one of the very strange things where when you buy a house you can just decide between you and the buyer what you buy the house for.
You can’t do that with bitcoin, stocks, shares or gold as the price is fixed.
Take advantage of being able to negotiate the price and expect to be told No and stop being so British with your politeness.
When you do finally put forward your offer, you’ve got to justify it and don’t just say 150,000 pounds.
You’ve got to be specific as well with your offer.
If you say 150,000 pounds and the property is worth 200,000 pounds, you need to say 150,000 because lockdown just happened and there’s a lot for sale right now.
The one a few doors down the road sold for 150,000.
You need to just give all the reasons as to why you’re offering lower.
If you skip a queue you can’t just skip the queue. You’ve got to give a reason why you’re skipping the queue
This will make them much more likely to say yes.
Turn A No into A Yes
When you’re told No which you need to expect because you’re going to get rejected, don’t take it personally.
Don’t keep thinking that the No is for forever.
When someone tells me No, all I hear is Not for Now.
You’ve got to follow up by calling them back a week later and see if they’ve changed their minds.
When an estate agent says there’s no way their client is going to accept your offer, you need to fairly enough say you completely understand and ask if they’ve got any other property owners that are a little bit more motivated.
Want me to mentor you? – https://online.property-investors.co.uk/
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