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distressed property report

Discussion in 'Information Resources & Tools' started by Leo2413, 20th Sep, 2015.

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  1. Leo2413

    Leo2413 Well-Known Member Premium Member

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  2. Taku Ekanayake

    Taku Ekanayake Well-Known Member

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    Never used it but would also love to hear feed back.
    @Leo2413 do you find that distressed properties are marketed as distressed, or do you mainly find that it's not written in the ad and you have to ask the agent or do your own snooping around?

    I've found over the last few weeks that they aren't usually marketed as distressed as such, and I found out through questioning the agent.
     
  3. Leo2413

    Leo2413 Well-Known Member Premium Member

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    [QUOTE"Taku Ekanayake, post: 67687, member: 837"]Never used it but would also love to hear feed back.
    Yes so would I...seems no one has used it or they aint telling :) We might have to try it for ourselves and see @Taku Ekanayake ;)


    @Leo2413 do you find that distressed properties are marketed as distressed, or do you mainly find that it's not written in the ad and you have to ask the agent or do your own snooping around?
    Well like you've discovered its a mix really. Sometimes you can tell from the description "must sell" " motivated seller" "deceased estate" ect. and other times you need to investigate further. As you've said, by questioning the agent you can uncover all sorts of goodies. Other things I personally also do are
    1. Rpdata to see when it was bought, for how much and what are they asking now
    2.How many days its been on the market. One of my last purchases in Brisbane was on the market for 160 days. Oh what a beauty that turned out to be but that's another story
    :D
    3. I also do letter drops sometimes in certain targeted suburbs. For people who need to sell fast and want to avoid agents fees etc. Its an aggressive approach but all I can say is it works every so often. not too often. But all you need is for it to yield 1 or 2 results in say 10 years and its more than worth it ::)
    4. News paper adds For Sale. Many people I think miss this one
    5. Now I cant tell you all my secrets can I
    :p
     
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  4. Taku Ekanayake

    Taku Ekanayake Well-Known Member

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    Thanks for the awesome feedback.
    Sorry for some reason I didn't et notified of the reply in my activity feed.
    Letter box drops - that is next level @Leo2413!
    Yep, I too also like the property that's been on the market for many days.. Gone stale.. But usually there's more to the story than meets the eye in most cases
     
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  5. Leo2413

    Leo2413 Well-Known Member Premium Member

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    Definitely ;) Half our job as professional investors is to be detectives imo :D
     
    Last edited: 24th Sep, 2015
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  6. TMNT

    TMNT Well-Known Member

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    Its like mortgagee in possesion type auctions a few years ago. People ysed to think they are a guaranteedd bargain. Until there was a point when people were overpaying and buying at any cost.
    Like a mini boom in itself
     
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  7. meme plecko

    meme plecko Well-Known Member

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    See, that's clever, I might do that in Sydney if interest rates go up in a couple of years time, surely there will be lots of people who will be in trouble
     
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  8. York

    York Finance Broker Business Member

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    Don't tell everyone....just keep it between us..... :D
     
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  9. Leo2413

    Leo2413 Well-Known Member Premium Member

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    @meme plecko

    Boy do I have a bag of tricks....:D;)