What an amazing year we have had in regards to our own personal growth and the growth of our investment property portfolio. The subprime situation hit us in both our business and investments. It’s been a year of constant change within ourselves and our strategies ensuring we are always positive and focused (this was difficult at times). Our goals for the year had not changed, but how we achieved them did.
The property and finance industries are now getting ready for their Christmas slow down. Each year they assume that buyers will be on holidays and they rally businesses and vendors with the same outlook. The biggest thing I have learnt this year is the abundance of opportunities available from negative outlooks. With vendors and real estate agents gearing up for a slow down, it’s a great time for property investors to get active and get aggressive with the negotiations. This is particularly the case in Sydney’s western suburbs where there is a huge slow down and an over abundance of properties available.
Our buy and hold strategy has changed this year to a buy and sell. These Christmas bargains I am talking about are perfect for a buy and sell strategy. What a great way to start the New Year with an extra $50,000 in your pocket within 6 weeks. I can show you at least 3 real examples of my own from the last 6 months. Here are some rules I have been living by over the past 6 months that have made me over $120,000 in the hand.
- Create your own rules! Never let the market, agents or media tell you that things are bad.
- For every bad there is an equal opposite – good.
- Don’t be shy with your offers. If you think an offer on a property is too cheap, take another $20,000 off. Desperate times calls for desperate vendors.
- Go to suburbs that you have been afraid of and that the economists snub. I love Campbelltown; I will retire on my profits from Campbelltown alone.
- Always have finance ready. This one’s easy for me because that’s what we do. If you’re an investor call us and have your finances checked and ready for the Christmas bargains.
- Negotiate your settlement terms. Again another subprime opportunity. Vendors are desperate and will negotiate on terms. Often allowing you the opportunity to renovate before settlement and make profits with minimal outlay.
- Just do it.
Call me today for a free consultation and get geared up for the Christmas bargains.
I look forward to sharing our success with you,
Victor Kumar