Nothing (other than my family) gives me more pleasure than knowing I inspired someone else to get over their fears, limiting beliefs, and real life circumstances – and start creating wealth with property.
So when Tyrone Shum asked me to interview for his new podcast – Property Investory – I immediately agreed.
Little did I know this would open the gates to some parts of my journey that I had never opened up to before.
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If you’ve been reading Part 1: Here’s An Easy Way To Fund Your Next Deal and Part 2: Three Types Of Partnerships That Are Making Australians Rich – Which One Fits You Best? you are now fully equipped to start tapping into the easy profits that are waiting for you.
In this post, I’m going to show you why most investors are focusing on the wrong deals. This makes them waste a lot of time and a considerable amount of money – but their loss is your gain!
In this post, I’m going to connect the dots so by the time you’re done reading you’ll have a very good blueprint for putting together your next (or first) joint venture.
But first, let me explain why I think most of your competition is chasing the wrong deals… leaving the best ones wide open for you:
In my last blog (Here’s An Easy Way To Fund Your Next Deal), I was telling you about the abundance of cash I see in the marketplace and how it can free you forever from needing to beg the bank for funding.
Right now even the smartest investors I know aren’t taking full advantage of this money… which means there’s plenty left for you if you get going!
Which is why today I’m going to show you three real-world case studies of how I’ve been able to put this easy money to work for me… and why I think you can start creating cracker deals yourself using the same methods.
But first, a word of advice…
I get really sad when people tell me “there are no more good deals left”… because what they really want to say is…“I can’t afford the good deals”
If you have ever felt that you’re being forced out of the property game – you’re not alone.
In fact, the Australian Prudential Regulation Authority (APRA) have just passed some changes that will force many investors to seek a new career.
For example…
And other parameters are being applied to reduce the bank’s exposure even further, with more to come moving forward.
What this means is…
“To hell with these agents… they’re just so useless! Sometimes I think I’m better off selling my properties on my own – it’s a lot of work, but at least then I’ll be getting the profits I deserve!”
If you ever felt this way – I can’t blame you!
The agent selling your property can be the difference between a substantial profit, an average result, or even losing money.
After all, it doesn’t matter how well you manage the project… if your agent screws up the sale, your hard work might count for nothing.
On the other hand, a great agent will not only significantly increase your profits, but also free up your time – allowing you to focus on finding your next killer deal.
But let’s think about it for a second. If you hire a bad roofer and it ends up costing you an arm and a leg – who’s to blame? Not the roofer – but the investor who probably didn’t do a full due diligence and hired that roofer without proper recommendations.
(By the way, if you need a vetted roofer, or any other tradesperson or property professional – why not check out the Property Investor’s Rolodex? It has all the contacts you’ll ever need to run a successful project – organised by state!)
So basically what I’m getting at is this – your success in selling your property comes down to one thing:
Now, I could tell you stories from my own experience, but that would give you only one side of the story. To get the full scoop, I went to my good friend and real estate agent Justin Watt.
Justin is the chief executive officer and selling agent at Watt Realty, and has been in the real estate business since 1998. During his nearly 20-year career, he has observed changing trends and cycles in the property market and has worked with both novice and experienced property investors.
There aren’t many people better suited than Justin to answer the question below:
According to Justin, one thing that almost every property investor has in common, regardless of the market conditions, is that they rarely put sufficient thought and effort into choosing a real estate agent to sell their property.
In my experience, 90-95 percent of people don’t give much thought to who they get to sell the house—and that’s where the money is made,” Justin says.
Selecting the right real estate agent is critical to a profitable, timely and low-stress sale, Justin adds. Here are a few tips from his experience that can help you maximise your profits by selecting the best real estate agent for your property:
When property investors consider doing a deal, they put in many hours of up-front work to make sure everything stacks up. From doing feasibility studies to consulting with industry experts to obtaining financing, it takes a huge amount of time and effort to figure out if a deal is going to work. [Read more…]