This week, Simon talks you through the six key signposts you need to watch for in order to recognise a good deal in property.
Look for properties with instant equity. If you can find a motivated seller and gain yourself some instant equity, you're already in profit.
Make sure you only buy properties in areas where there is strong rental demand. You want to be able to rent it our quickly in order to minimise void periods.
Look for properties in which you can add value. If you can't add value yourself, then you're relying on the market to add value.
Endeavour to make the best return upon your investment that you can. This is calculated by looking at the annual profit divided by the initial investment required.
'A lot of people out there don't really know what makes a great deal'
'If you can buy at a discount, it means you have equity on day one!'
'It's not about getting a discount on the asking price - it's about getting a discount on the value of the property'
'There must be profit left over after the end of every month'
If you would like to learn more about finding great deals in your area you can register for free online training here: www.dealfindertraining.co.uk
Property Magic: How to Buy Property Using Other People's Time, Money and Experience by Simon Zutshi
To find your local pin meeting visit: www.PinMeeting.co.uk and use voucher code PODCAST to attend you first meeting as Simon's guest (instead of paying the normal £20).
Register at Mindset For Property at - www.mindsetforproperty.co.uk
ABOUT THE HOST
Simon Zutshi, experienced investor, successful entrepreneur and best-selling author, is widely recognised as one of the top wealth creation strategists in the UK. Having started to invest in property in 1995 and went on to become financially independent by the age of 32.
Passionate about sharing his experience, Simon founded the property investor’s network (pin) in 2003 www.pinmeeting.co.uk. pin has since grown to become the largest property networking organisation in the UK, with monthly meetings in 50 cities, designed specifically to provide a supportive, educational and inspirational environment for people like you to network with and learn from other successful investors.
Since 2003, Simon has taught thousands of entrepreneurs and business owners how to successfully invest in a tax-efficient way. How to create additional streams of income, give them more time to do the things they want to do and build their long-term wealth.
Simon’s book “Property Magic” which is now in its sixth edition, became an instant hit when first released in 2008 and remains an Amazon No 1 best-selling property book.
Simon launched his latest business, www.CrowdProperty.com, in 2014, which is an FCA Regulated peer to peer lending platform to facilitate loans between private individuals and property professionals.