Today we are going to focus on you and your role in this renovation journey. Now that you've pinpointed your patch, strategy and team, what's next? Well, now it's time for you to become your own property expert!
But what does it mean to become your own property expert? Well, you need to have a clear vision of your patch and strategy. Not only this, but also, you need to know every detail about the properties you are looking to renovate.
This includes the unrenovated property AND the finished project.
The good news is you've already started building this information! However, it's so important that you take in new data, which is available on the market every day.
Today, we will share two steps you can take to build your confidence as the expert in your patch.
Keep reading below as we share a few pointers or simply listen to the full podcast here instead…
STEP ONE - MAKING CONNECTIONS WITH YOUR SELLING AGENTS
The first step is making connections with the most awesome selling agents in your patch.
Why? This way, you have several sets of eyes out in the market, looking for your perfect renovation project.
However, ensure you use agents who can see value in your relationship with them. They need to see that you're not just a one-off buyer or seller. In fact, you're serious about buying the right property for the right price.
Now, this means you're doing regular business with them. And with a good relationship like yours, who can resist?
If they can see a mutual benefit, agents can speed up the property-finding process for you.
However, you don't have to limit your relationship to agents who only sell in your patch or area. A great selling or buying agent will know where to find the properties that meet your requirements.
Plus, there's fantastic commission in there for them too!
STEP TWO - GOING TO OPEN INSPECTIONS
The second step to becoming your own expert is simply seeing properties in the flesh. This involves going to open inspections in your particular patch and suburb.
Why is it so important to physically see the property that you want to renovate on?
Well, pictures in online open inspections won't show you the cracked walls, leaking taps or the asbestos-lined bathroom.
Also, a physical inspection of a renovated property, which will be comparable to your end product, will show you the level of finish, and the style or feel of the property.
Standing in that living room will help you envisage what you need to create. Also, it will give you an idea of the competition for your end product.
However, physical inspections are not limited to inside the house! Seeing potential renovation projects in person can help you check out the neighbourhood.
In addition, you can gather information that wouldn't be available on a property listing. Does one side of the street slope upwards or downwards? Does the apartment complex go up or down 2 doors?
Focus on renovated and unrenovated properties that fit your strategy, and get your selling agents to do the same for you. You will find a property in no time!
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