Finally, where is the wriggle room?
When you buy a brand new property, your room to negotiate prices is
strictly regulated by a set-price list.
When you are buying an established property, on the other hand, you are
working in the realm of emotions and imperfections – a market that is
ever-changing – and with vendors whose motivations for selling are varied, to
say the least.
In the current market, it is still possible to buy established
properties below "intrinsic” value and in fact, we are often finding apartments
for up to 20 percent below replacement cost.
This is why, in my view, buying an established property is the way to
go.
I believe most investors will find the best success buying an existing
property with ‘character’ and renovating it to add value, resulting in a
higher-yielding, tax-efficient investment.
Now is the time to take advantage of the
opportunities the current property markets are offering.
RealRenta has all the tools that a property manager has, but at over ¼
the cost of a property manager.
Join now and the
cost is less than a cup of coffee a week to manage your rental property
RealRenta also has a
free vision, so why not check it out
Jason Gwerder
Thursday, 17 June 2021
