You probably have heard that now is the best time to invest in real estate. But chances are no one has told you about the best opportunities in real estate. And most importantly, not one has said how to spot these opportunities.
Let’s face it. It doesn’t matter how motivated you are to invest if you can’t find the best opportunities.
That’s why this article will share with you how to find the best investment opportunities
How Has COVID-19 Crisis made It Easy To Invest?
Let’s begin with the basics. Research shows that COVID-19 has created a global economic crisis. People are losing jobs every day, businesses are not making profits as they use to, and property owners cannot service their debts.
These property owners are now looking for investors to sell their property to—before banks, lawyers, and financial institutions start frustrating them. So, in more technical terms, they are motivated sellers.
On the bright side, though, the government has given incredible tax relief—stamp duty and other fees are very low.
So these two situations—motivated sellers and government relieves—make it easy and best to invest now. Your work as an investor is simple. All you need to do is find distressed properties and buy them between 10%-40% below market value and still enjoy the government relieves.
How To Identify Real Estate Opportunities
You’ll benefit greatly if you can find distressed properties before other investors discover them. The following are simple ways you’ll find these opportunities.
Ask Your Network
Start by asking the people around you. Let your family and friends know that you’re looking for property to buy. Your network shouldn’t be limited to real estate professionals—your children might know where to find these opportunities.
Chances are some people might know someone who is selling their house. And if they don’t know, they will be your research agents. When they hear about anyone selling property, they’ll tell you.
Work With A Real Estate Agent
When most people are selling their property, they begin with real estate agents. Go to your agent and ask them about these opportunities. For instance, Dunedin real estate agents will give you a list of people selling their property in Dunedin.
Use The Internet
The first place most people think of is the internet when it comes to looking for buyers. Check real estate sales pages online. You’ll see many people selling properties. Choose what’s within your goals and invest.
The internet will give different options that you can compare before making your decision.
During the COVID-19 crisis, you’ll find deals that you might never see elsewhere again. You will get properties at low rates and best of it all you won’t have to pay high fees. But after buying, it’s wise to improve on the property, if possible, and wait until the market rates pick. Then sell at a profit.