Property Buying Tips

Have you ever considered investing in property? Well, let me tell you something: it's actually easier than you may think. In today's video, I'm going to share some valuable insights and tips on how you can make your foray into the world of property investment. So let's get started! Before we dive in, let me give you a bit of background. Around 10 years ago, I was just like many of you, curious about investing in property but feeling overwhelmed by the process. However, I embarked on a journey to discover the ins and outs of property investment, and today, I'm thrilled to share what I've learned. Step 1: Educate Yourself The first step is to educate yourself. Learn about the different types of property investments, such as residential, commercial, or even holiday rentals. Understand the local market trends, rental yields, and potential capital appreciation. There are plenty of free online resources, books, and courses available to help you gain the knowledge you need. Step 2: Set Your Goals Once you have a good understanding of property investment, it's important to set your goals. Determine what you want to achieve. Are you looking for long-term rental income or quick returns from flipping properties? Setting clear goals will help you design your investment strategy accordingly. Step 3: Budgeting and Financing Now, let's talk about the financial aspect. Budgeting and financing play a crucial role in property investment and this is where a mortgage broker can help you. It's essential to evaluate your financial situation and determine how much you can afford to invest. Consider factors like deposits, mortgage repayments, property taxes, and ongoing expenses. Don't forget to explore financing options that align with your investment goals. Step 4: Location, Location, Location! One of the most important factors when investing in property is the location. You've probably heard it before but allow me to reiterate: location is key! Look for areas with strong growth potential, good infrastructure, access to amenities, and a stable job market. Take the time to research and analyse various locations before making your decision. Step 5: Building a Dream Team Investing in property is not a one-person show. It's essential to build a reliable and trustworthy team to support your investment journey. This team may include a mortgage broker, an accountant, a buyer’s agent and a solicitor or conveyancer. Building relationships with these professionals will provide you with the necessary expertise and peace of mind. Step 6: Due Diligence and Property Inspection Before making any purchase, always conduct thorough due diligence and property inspections. This will help you uncover any potential issues, assess the market value, estimate repair or renovation costs, and ensure you're making a smart investment decision. Remember, a small upfront investment in due diligence can save you from significant headaches down the road. Step 7: Diversify Your Portfolio Finally, consider diversifying your property portfolio. While it's tempting to focus on one type of property or one location, diversification can help mitigate risks. Explore different property types or invest in multiple locations to spread your investment across various markets. This way, if one market faces challenges, your overall portfolio can still thrive. So there you have it! Investing in property may seem daunting at first, but with the right tools, knowledge, and a well-thought-out strategy, it can be a highly rewarding endeavor. Remember to educate yourself, set clear goals, budget wisely, focus on location, build a reliable team, conduct due diligence, and diversify your portfolio. And most importantly, have patience and a long-term perspective. Success doesn’t happen overnight. Thank you for joining me on this property investment journey! I hope you found this video informative and empowering. If you have any questions or want to share your own experiences, feel free to leave a comment below. Don't forget to hit that subscribe button and stay tuned for more exciting content. Until next time, happy investing! Check out our channel here: https://www.youtube.com/channel/UCZAaYY7xABuyczZdMCrF_Kw Don’t forget to subscribe! FIND US AT https://www.readysetbuy.com.au GET IN TOUCH Contact us at info@readysetbuy.com.au FOLLOW US ON SOCIAL Facebook: https://www.facebook.com/ReadySetBuy Instagram: https://www.instagram.com/readysetbuy_buyeragents/

Today, we are diving into the exciting world of property auctions. If you've ever dreamed of buying your dream home or investment property at a great price, then you're in the right place! Today I'll be sharing everything you need to know about winning the bid at property auctions. So, let's get started! Property auctions can be thrilling, but they can also be a little daunting. Don't worry, though—I've got your back! By the end of this video, you'll have all the know-how you need to confidently participate in a property auction and win that bid. Firstly, it's crucial to do your homework before even thinking about attending an auction. Research is key! Take your time to understand the auction process, local laws, and regulations, as well as the specific auction you plan to attend. This will help you make informed decisions throughout the bidding process. Next, take a look at the properties up for auction. Carefully analyse the details, including the condition, location, and potential for value appreciation. It’s essential to assess the potential risks and rewards before setting your heart on a property. Once you've done your research and identified a property you're interested in, it's time to set your budget. Being clear on your maximum bid is paramount. It's easy to get caught up in the excitement or let your emotions drive you, but having a budget in mind will help you remain disciplined. Remember, winning the bid is only the first step in the process—there are additional costs and expenses to consider down the line. Now, inspection is an absolute must! Before the auction, visit the property and hire a professional B&P inspector to assess its condition thoroughly. This way, you'll have an accurate understanding of any repairs needed or potential maintenance costs. It's crucial to know what you're getting into and avoid any costly surprises later on. During the auction, it's essential to arrive early to get a good seat or position and carefully observe other bidders. Take note of their bidding styles and strategies. This will provide valuable insights into your competition and help you plan your approach. Remember, confidence is key, so stay calm and focused! When the bidding begins, start with a conservative bid. This will allow you to gauge the interest level of other bidders. However, avoid getting caught up in a bidding war that exceeds your budget. Stick to your limit and be prepared to walk away if necessary. There will always be other opportunities. Finally, if you win the bid, congratulations! Take a moment to celebrate, but remember the work is just beginning. Make sure to complete all the necessary paperwork promptly and arrange payment as per the auction rules. It's essential to be prepared and follow through to secure your purchase successfully. And there have it—all the information you need to confidently participate in a property auction and have a shot at winning that bid. Remember, knowledge is power, so be prepared, stay focused, and trust your instincts. Thanks for watching, and don't forget to subscribe to our channel for more exciting real estate tips! See you next time! Check out our channel here: https://www.youtube.com/channel/UCZAaYY7xABuyczZdMCrF_Kw Don’t forget to subscribe! FIND US AT https://www.readysetbuy.com.au GET IN TOUCH Contact us at info@readysetbuy.com.au FOLLOW US ON SOCIAL Facebook: https://www.facebook.com/ReadySetBuy Instagram: https://www.instagram.com/readysetbuy_buyeragents/

Are you wondering whether you should focus on capital growth or positive cash flow when investing in property? Well, you're not alone. In this video, we'll dive deep into these two strategies and help you decide which one suits your investment goals best. When it comes to real estate investing, there are two main objectives: capital growth and positive cash flow. Let's start by understanding what each of these concepts means. Capital growth refers to the increase in the value of your property over time. This can be influenced by various factors, such as the local economy, supply and demand, and market trends. The goal here is to buy a property that will appreciate in value, allowing you to make a profit when you decide to sell it in the future, or to leverage off the rise in value, by extracting equity out to buy more properties. On the other hand, positive cash flow refers to the rental income your property generates, minus all your expenses, such as mortgage payments, maintenance, and property management fees. The aim here is to have a property that brings in more rental income than it costs to maintain, providing you with a steady income stream. Both capital growth and positive cash flow have their own advantages. The choice between capital growth and positive cash flow depends on your financial goals and your risk tolerance. If you're looking for short-term gains, capital growth may be your best bet. However, if you seek long-term stability and passive income, positive cash flow is crucial. Ultimately, a well-balanced investment portfolio often includes a mix of both. Capital growth can lead to substantial profits but requires patience, as the returns are not immediate. It also carries a level of risk, as market fluctuations can affect property values. Positive cash flow, however, provides income stability and financial security. It's less dependent on market conditions but might require a larger initial investment or exploring potentially untapped markets. So, when it comes to investing in property, remember it's not a question of either/or, but rather finding the right balance between capital growth and positive cash flow based on your personal goals. Whether you choose capital growth, positive cash flow, or a mixture of both, always do thorough research, seek professional advice, and ensure your investment aligns with your risk tolerance and long-term objectives. Remember, real estate investing can be incredibly rewarding, so choose wisely and enjoy the journey towards financial freedom. Thanks for joining me today. If you found this video helpful, don't forget to give it a thumbs up, subscribe to our channel, and share it with your friends. Until next time, happy investing! Check out our channel here: https://www.youtube.com/channel/UCZAaYY7xABuyczZdMCrF_Kw Don’t forget to subscribe! FIND US AT https://www.readysetbuy.com.au GET IN TOUCH Contact us at info@readysetbuy.com.au FOLLOW US ON SOCIAL Facebook: https://www.facebook.com/ReadySetBuy Instagram: https://www.instagram.com/readysetbuy_buyeragents/

Today, we're diving into a topic that can certainly change your life: negotiating like a boss when buying property. I know, sounds pretty intimidating, right? But fear not, because I've got some killer tips to help you master the art of negotiations. Having successfully negotiated and secured over 200 properties for my clients as a buyer’s agent, these tips will definitely give you the advantage over your competitors. 1. Be organised. Make sure you have all of your finances sorted and documents ready to go. Selling agents prefer to deal with buyers that are serious and ready to pull the trigger and this can often make the difference between having your offer or the vendor going with another buyer that’s organised. 2. Be realistic. Make sure your offer is in line with the current market conditions and the home’s condition. Submitting a ‘low-ball’ offer in a competitive market will only lead to your own disappointment. Both the selling agent and vendor will have a good idea on what the property is worth. 3. Be flexible. Consider offering a shorter or longer settlement period depending on the vendor’s circumstances or even short-term rent-back option, if needed. Many people don’t realise, but a successful negotiation doesn’t only come down to the price, but also the conditions you put forward. 4. Be proactive. Make sure your offer stands out by emphasising the value you bring to the table. Get your offer in as soon as possible and completed your due diligence in advance – don’t let the competition beat you to the punch. Good luck with your property hunting! Check out our channel here: https://www.youtube.com/channel/UCZAaYY7xABuyczZdMCrF_Kw Don’t forget to subscribe! FIND US AT https://www.readysetbuy.com.au GET IN TOUCH Contact us at info@readysetbuy.com.au FOLLOW US ON SOCIAL Facebook: https://www.facebook.com/ReadySetBuy Instagram: https://www.instagram.com/readysetbuy_buyeragents/

Our channel is about sharing our industry knowledge and tips with you, to help you become a successful property investor and home buyer. We cover lots of interesting stuff such as negotiating tactics, research tools, due diligence checklists and more. Ready Set Buy - Property Buyer's Agents was founded by Tome Avelovski, who has been helping buyers from across Australia secure their financial freedom, using property as the vehicle to get there. Whether you're looking to purchase a high capital growth investment property, positive cash flow properties or do a development such as a duplex or townhouse, we've got you covered! Check out our channel here: https://www.youtube.com/channel/UCZAaYY7xABuyczZdMCrF_Kw Don’t forget to subscribe! FIND US AT https://www.readysetbuy.com.au GET IN TOUCH Contact us at info@readysetbuy.com.au FOLLOW US ON SOCIAL Facebook: https://www.facebook.com/ReadySetBuy Instagram: https://www.instagram.com/readysetbuy_buyeragents/