Making money from houses
Stubsy's thoughts for making cash buying, renovating and selling property.
Today we'll look at the most important part of making a successful property investment the buying of a property.
Whether your looking to make quick cash from property development, long term money from buying to let or you just want a sound investment to live in that will ensure you of some cash upon retirement buying sensibly and below value in the first place is the most important part of investing in property.
How can you find a good deal on your next house?
Here in the U.K we have Estate Agents when selling a house many people rely on their valuations to know how much can be obtained for their property, Estates Agents Valuations of a property can vary by many thousands of pounds. Most estate agents work on a no sale no fee basis so the longer they advertise your property for the more they lose off their commision, this means its in their interest to price your house for a quick sale.
Estate Agents don't really have anything to go on other than what similar properties have sold for in that area so when your looking around check several estate agents not just one or two, look on the internet heres a website I like called Our Property
It allows you two see what properties have sold for in a certain postcode area for the past few years you may even be able to see what the vendor paid for the house you like.
Negotiating a good deal
I have written about negotiation before in the Rules of negotiation
Just never let it show how much you like the house and don't be afraid to make a cheeky offer ask the estate agent how much he thinks his client will accept, many will tell you.
Don't make the leaving of furniture and white goods etc. a condition of sale because a clever vendor will use these to rip you off, it will nearly always be cheaper to buy these thing seperately.
Well thats it for tonight come back to see what wisdom I'm sharing tommorrow.
bhaque:
I did have a go at making profit from property once yes and it was quite successfull, if I were you i'd go with the wifes plan to start with.
Please do enter my competition, it would be appreciated
Arkad:
Hello Stubsy,
Some interesting thoughts about buying property here. Tell me, have you invested in property yourself? My wife and I are considering giving it a go - she wants to buy, decorate & sell for short term profits while I want to buy and hold for the long-term.
I recently read an ebook called UK Property Success and found it to be very informative and inspirational.
Arkad
P.S. I found your website through moreturf, which I found through LordMatt after he left a comment on my website. Just stumbling my way through at the moment and I might even have a go at that competition of yours ;)
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