Finding property investment deals can be one of the most challenging parts of building a property portfolio. And it’s important to find transparent and credible property deals as this can help you make more informed decisions and help you make better returns.
Technological advancements are offering opportunities to make extensive improvements to the property investment industry, especially in regards to finding and assessing property investment deals. Below we look at seven ways to find property investment deals and discuss what to consider when looking for them.
When searching for any property, property portals such as Rightmove, Zoopla and OnTheMarket can be a great way to find properties that are currently for sale. These portals are a great place to start your search for the ideal property investment and can provide information on the local market.
Listings on property portals can offer insight into the different types of properties available in certain locations. Additionally, the websites offer insight into what price properties are on the market for and what they are selling for. You can also book viewings for a property straight through the different portals, making it easy to set-up a viewing for properties you are interested in.
A property sourcer puts together property deals, which they sell to property investors. Essentially, the sourcer is a middleman between the seller and the buyer. Their aim is to smooth out the deal and the buying and selling process. When using property sourcers, it’s pretty standard to have to put down a deposit, which typically ranges from £500 to £1000.
Getting connected with reliable sourcers is often the most difficult part. There are fake property sourcers out there scamming investors. Be sure the sourcer you’re dealing with is compliant. Check their website for their company address, VAT number, Redress Scheme information, HMRC registration number, insurance information and refund policy.
If you can’t find the necessary information on their website, ask the sourcer for them and get independent referrals and testimonials from their clients. Check that they are Ombudsman registered. It might even be worth contacting the ombudsman to make sure the registration is real.
PropertyMenu is an online platform bringing together property investors and sourcers and offering better access to property deals. Each investor and sourcer is checked, reviewed and assessed against certain criteria, offering a new level of transparency on the people or organisations involved in each deal, making it easier for investors and sourcers to establish trust and confidence.
The platform then matches potential investors with property sourcers, while also presenting and calculating deals based on a tried and tested deal calculator, providing transparency to often confusing and misleading numbers behind property deals.
To help investors make more informed decisions, PropertyMenu provides property investors with full clarity of each potential opportunity to help you find the best property investment deals. Investors can register and indicate the types of properties and opportunities they are looking for, and we can match available deals that fit that criteria.
Estate agents and buying agents
If you have a specific type of property investment in mind, you can register your interest with local estate agents, and they can let you know when a property that meets your criteria is available. This is a great way to find off-market opportunities that may get snatched up before ever going to the open market. However, keep in mind that estate agents will always have the sellers’ interest in mind.
Because of that, buying agents are becoming more popular. They are similar to estate agents, but act on behalf of buyers instead, which can provide a better experience for investors. They also often have access to properties that aren’t listed on the open market.
Many property investors look to auctions in hopes to bag a property for a bargain, but with auctions it’s ever important to do your due diligence. It’s possible to secure impressive bargains at auction but research must be done extremely carefully. It’s helpful to find out as much as you can about the property and local area.
Legal work and surveys needed to ensure if a property is worth bidding on can be expensive. You might even end up forking over thousands of pounds to ensure the property is worth bidding on, and you’re still not guaranteed to secure the property.
Purchasing a property at an auction is typically much quicker than buying through other means, and it will be especially quick if you can pay for the property in cash. Additionally, you’ll typically be competing against fewer bidders than if the property was on the open market.
There are numerous property investment groups on Facebook and LinkedIn that offer access to property deals. Many people find out about property deals this way, but social media can be an unreliable place to find credible property investment deals. It’s easy to run a scam online, so it’s especially important to do extra research when engaging with a property sourcer through social media.
Attending property investment-related networking events can be helpful in building your connections. This can help you get in contact with people who can pass along property investment deals you might be interested in or connect you with other people who are.
The more people you meet and know in the property investment industry can be helpful in getting access to property deals that aren’t on the open market. However, even if you’ve met these people in person at a networking event, it’s still important to do your due diligence and background checks to ensure they’re legit and offering credible and transparent property deals.
Where do you find property investment deals? With any property investment deal, it’s important to do your own due diligence and research to ensure you can make as informed of a decision as possible. After all, knowledge is power, and that could help you make higher returns from your property investment portfolio.
If you’d like to learn more about what we’re doing at PropertyMenu to help you make informed decisions on property investment deals, visit PropertyMenu.com.