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Find the Right Property, Buy at the Right Price

Book Description

The essential guide to buying the perfect investment property

Interest in buying property is at an all time high. But while everyone's talking about it, the number of people actually doing it isn't escalating at the same rate. The reason is simple: would-be buyers are being held back by fears that they'll choose the wrong property, and pay too much for it, too. Find the Right Property, Buy at the Right Price is here to help, putting author Melissa Opie's 25-year history in real estate at your fingertips so that you can be certain you're making the right decision.

Part of the reason buyers are so worried about making a bad deal is that the market moves so fast and 'current' information dates quickly. Every quarter, newspapers all over Australia print median house prices, indicating which areas have gone up and by how much. But there's so much more information a buyer needs to feel confident before dipping their toes in the property-buying waters. With this book in hand, you'll have that all-important extra knowledge.

  • Answers key questions like 'Which properties should I target in these "boom" areas?' and 'How do I know I'm paying the right price?'

  • Distils property-buying rhetoric in a simple, easy-to-follow way

  • Features numerous case studies and real-life examples to help illustrate strategies and potential pitfalls

  • Includes checklists to help you make sure you aren't missing anything when buying a property

Find the Right Property, Buy at the Right Price is here to allay your property-buying fears. From a respected expert with an impeccable track record, it's the only book you need to make a responsible, informed, and profitable purchase.

Table of Contents

  1. Cover
  2. Table of Contents
  3. Title Page
  4. Foreword
  5. Part I: Finding the Right Property
    1. Chapter 1: A fast-moving train: the property market
      1. Why property?
      2. Fear cripples would-be investors
      3. Strategic investing
      4. Buy and hold properties
      5. Don't be fooled - it's hard work!
    2. Chapter 2: Defining your property goals
      1. Why do you want to invest?
      2. Defining your target passive income
      3. Articulating your goals
      4. Staying on track
    3. Chapter 3: Buying a home versus buying an investment
      1. Home or investment?
      2. How the search differs
      3. Buying an investment property
    4. Chapter 4: Where to buy
      1. Doing your research
      2. Why property selection is so important
    5. Chapter 5: What to buy
      1. Property types
      2. Architectural styles
      3. House or unit?
      4. Residential or commercial?
      5. Old or new?
      6. What can you afford?
    6. Chapter 6: Choosing the right property
      1. Get to know your target suburbs
      2. Online shopping
      3. Desirable features
      4. Attending open for inspections
      5. After the inspection
      6. The contract - things to look for
      7. Vendor's statement
      8. Understanding titles
      9. Dealing with real estate agents
      10. Keep an open mind
  6. Part II: Buying at the right price
    1. Chapter 7: Preparing to buy
      1. Knowing your market
      2. When to buy
      3. The property cycle
      4. Property as a unique purchase
    2. Chapter 8: Determining market price
      1. Factors influencing value
      2. Vendor expectations
      3. Published property data
      4. Developing your own property data
      5. The median price
      6. Valuing the property
    3. Chapter 9: Property selling methods
      1. Private sale/treaty
      2. Buying at auction
      3. Self-selling
      4. Organising finance
    4. Chapter 10: Negotiating the purchase
      1. Get a competitive advantage
      2. Dealing with real estate agents
      3. It's not all about price
      4. Negotiating in private sales
      5. Negotiating after properties have been passed in at auction
      6. Negotiation tips
    5. Chapter 11: Using a buyer's advocate and other professionals
      1. What do buyer's advocates do?
      2. Why people use buyer's advocates
      3. How do you choose?
      4. Your property investing team
    6. Chapter 12: Ensuring ongoing success
      1. Reviewing the golden rules
      2. Building your portfolio
      3. Continuing the journey
      4. Common mistakes
      5. Staying motivated
      6. A final word
  7. Appendix: useful resources
  8. Glossary