For the latest episode of this bonus series of the property investing journey, Mike is joined once again by Matt Sharp, Buyers Agent and Qualified Property Investment Advisor on the Central Coast in New South Wales. Today’s topic is all about buying under market value, what that really means and how to make it work for you.
Matt’s aim with Sharp Property Buyers is to help his clients buy their dream home and secure their future by investing in quality investment properties. With nine years’ experience building his own diverse portfolio, Matt’s well equipped to talk to the tips and tricks of buying under market, and what you really need to be aware of to make a smart investment decision.
In this episode, Mike and Matt chat about the definition of market value and how to know when an asset might be under value. They talk about the many different factors at play for sellers when it comes to putting a property on the market, and why it’s important for a purchaser to aim to understand the seller’s motivation.
Mike questions Matt about the importance of standing out from other prospective purchasers, and Matt explains why it’s critical to be seen as someone who is easy to deal with. He talks to why it’s ok to let agents know where you’re at in your investing journey, and why the old theory that you need to put on a front to get the upper hand in a deal just doesn’t work.
This is a highly practical conversation with plenty of clear advice on how to proceed through your next purchase. Whether you end up landing a deal that’s under market, or are just looking for a smooth transaction, Matt’s advice will hold you in good stead.
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Mike is joined once again by Matt Sharp, Buyers Agent and Qualified Property Investment Advisor on the Central Coast in New South Wales. Today’s topic is all about buying under market value, what that really means and how to make it work for you. With nine years’ experience building his own diverse portfolio, Matt’s well equipped to talk to the tips and tricks of buying under market, and what you really need to be aware of to make a smart investment decision.
What we cover in this episode
- The definition of market value
- The reasons a seller might sell under market
- Can you buy under value in a heated market
- How to stand out to a sales agent
- The value in being ready to deal
- The problem with a low ball offer
- Matt’s big three points
“The biggest mistake I see from buyers out there when they are looking to purchase property, and they are shopping around, is that they are critiquing the property, they’re pointing out all the negatives. You know, they’re not willing to work with the agent” Matt 6:21
“There’s nothing better with getting good deals done then speed” Matt Pt2 – 2:08
“You want to understand the vendors motivation because you want to be able to work with them, you want to see whether or not you’re in a position to be flexible to purchase or not” Matt (Pt2 3:39)
“So all of these things can start to become an attractive proposition to the seller which will take the focus off their price” Matt (Pt2 4:36)
“Put in a solid offer and when I say solid I don’t necessarily mean to the dollar value but I mean make sure your offer’s in writing, can it be on a contract, can you have all your ducks align, can the solicitor have already reviewed the contract” Matt (Pt2 6:25)
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