When it comes to looking for that all-important property to invest in, there are various ways to find it. You can do it online, face-to-face, by direct mail or by simply putting out the feelers and hoping a contact will get back to you.
In other words, there is no sure fire way to find a great investment property. But you can increase your searches by employing the best tools out there. Here’s some of our current favourites here at Sourced:
Online property search tools
By far the most influential on the market right now are Rightmove and Zoopla. The former claims to have 90% of estate agents advertising properties via their online portal. Certainly, there is a huge number to choose from compared to other online listing sites, and Google maps is built in, so you can see exactly where your particular find is located.
Zoopla is Rightmove’s nearest competitor and doesn’t just give you current properties for sale, but also allows you to search for what properties in that area have sold for recently on their site.
On The Market is likely the third most influential property portal in the UK, along with Home. The latter compares how prices in the area you’re interested in compares with other streets in the same town.
Property auctions
Looking for a refurbishment property i.e. a rundown house or apartment that’s been neglected in recent years? Then a property auction is your first step towards making a neglected home habitable again. Always make sure you do a survey on the property you fancy beforehand, to make sure there are no serious structural issues.
Networking
The best way to find a bargain property is to make sure it hasn’t already been advertised – either online or in print. Estate agents are privy to information about properties about to be advertised or sellers looking for a quick sale (and that man’s not advertising their property). Often agents have a list of investors looking for particular property types. So, it makes sense to get your name on the list of agents working in the locales you are most interested in as an investor. That way, you’ll hopefully get first dibs at something that is right up your street (literally speaking).
Snailmail
Believe it or not we know quite a few investors who have had success through identifying a particular street in an area they like, then writing a letter to every house in that street saying they’re keen to buy if anyone is looking to sell. By selling direct, the seller doesn’t have any estate agency charges and are usually willing to let the property go a little under budget for a quick sale. It works in both parties favour.
Sourced Franchisees are trained on how to search to market to identify profitable investment opportunities for all investment strategies available. To find out more, email us at franchise@sourced.co or call us on 0333 123 1330.
Author
Chris Kirkwood
