When buying your own home or investment property you want to be really clear on the market value of a property so you don’t overpay. How do you work out the market value of a property?
0:00 – Introduction
0:41 – Why you don’t want to overpay for a property
1:50 – Become an expert in the areas you are focusing on by looking at past sales history
3:07 – Know exactly what suburb and property type you’re targeting
4:13 – 2 or 3 past sales history isn’t enough. You should look at 50-100 property sales
5:08 – Look at property sales history, not asking prices
5:51 – Get a map of the area and start to colour code it for the cheaper and more expensive areas
7:05 – You have to treat this as a business
8:10 – A lot can be done from home, but you can also take it to the next level
10:04 – Ask the real estate agent questions to get an idea of the motivation of a seller
11:10 – Sometimes knowing a suburb inside and out allows you to purchase property under market value
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