As an active investor, having several real estate brokers from marina one residences singapore with whom you collaborate will greatly increase your chances of finding the rare pearl, the motivated seller who will agree to sell at a discount or a building with untapped potential. The more brokers you look for, the more bargains will come to you.
I do not teach you anything, at first sight the deals are rare. When they appear and they come on the market, you have to be fast because they will not stay on sale for a long time. For unseen bargains, you will have to become a real estate colombo and will have to learn to read between the lines. The fact sheets that brokers send you often hide real gold mines, for you to recognize them.
Here are some tips and hints from Marina One Residences Singapore to help you achieve this.
1. Price changes
Ask your brokers that they regularly send you buildings that have been subject to a price change, which most of the time, is going down. Like most buildings, it’s a safe bet that the price charged by the seller was too high when you first learned about the property when it was first sold.
However, the motivation of sellers is often growing over time. Then watch for price changes and go ahead with an offer to buy if the seller shows a sudden flexibility reflected by a sometimes significant price drop, or even substantial in some cases. Also watch for repetitive and early post-market price drops. Why does a seller agree to lower his price so quickly? It is often a sign of impatience and motivation to sell.
2. On sale for several months
I have purchased on several occasions, during my career as an investor, properties that have been on sale for several months. These were buildings that nobody wanted and / or saw potential.
But why would a building be interesting if it’s been for months? Perhaps it is not adequately presented from a point of view of possible uses, perhaps housing could be added, the heating bill could be passed on to the tenants or that the price of rent is too low compared to the market?
Strive to develop a sense of vision to see what others do not see. I repeat: “Deals are rarely apparent. ”
3. The certificates of location
Ask your brokers to pay close attention to the year of the certificate of location when they search Matrix, a parallel system at centris.ca, but for the exclusive use of real estate brokers from marina one residences singapore.
A certificate dating back several decades will tell you that the owner has owned the building for a long time and therefore, that it may be selling because of retirement, health problems, moving to a retirement home or even you may be dealing with a building bequeathed to heirs eager to sell quickly in order to cash beautiful sums.
Here is a simple clue that allowed me to get my hands on beautiful flips and make tens of thousands of dollars in profit.
4. The periods of occupation
How about “flips” to ask your brokers to send you descriptive sheets indicating a relatively short occupancy time? That is, less than 60 days. The thinking behind is: “Why are sellers willing to leave the building in such a short time? Motivation is often hidden behind this situation.
The sellers may have already purchased another property, may have moved to another city or country in the course of their work. Should they leave because they can not meet their financial obligations to the creditor?
A combination of photos showing empty rooms, no furniture, and a short period of occupation is to watch closely!
5. Double surface area
Again, ask your brokers to research their system to find properties for sale on large lots. Knowing the average land area of the area in which you invest, ask them to send you the land “double area”. Thus, you will occasionally find land that can be subdivided and resold separately from the property. Ask the planning department whether a subdivision of land is possible and whether one or more buildings can be built there. Here is a type of flip of the most lucrative to recommend!
These 5 amazing things may seem trivial to some of you, but know that they are really worth their weight in gold for real estate prospectors of modern times. A single index could make you fat. Do not neglect them during your research and help your brokers find you special deals with special attention.
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