1 - Always seek an agreement with an interested seller
The people who are motivated to sell are the most interesting and are the most likely to lower the price. If you are looking to buy a property from someone who is unwilling to sell, you will not be able to negotiate. Also we must always try to understand the motivation of the seller. Is he selling because he's transferred, he can't afford his expenses anymore, to buy bigger, smaller? 2 - Do not get sentimentally involved If you choose a property because you like it or because the garden is pretty, you risk missing your goal. You should always check the calculation and the profitability figures of the investment. When it comes to your primary residence, the purpose is obviously not the same. But in the case of an investment the numbers have to be right before considering a purchase.
3 - Buy for the long term
Never base the profitability of an investment on its resale. An investment must be profitable because the purchase price makes it possible to define a rent in line with market prices. The profit must be realized upon purchase. 4 - Never sell … Unless you have to. There are certain situations where selling may be the best option: if the property is taking too long of your time or if it accumulates large losses. Otherwise it is better to conserve and take care of its properties. If you look at the successful people, they all own a lot of real estate. 5 - There are always good deals Even at the top of the real estate cycle there is business. You can never pre-assume current offers and the future of the scheme in the market. Also the business is still there. During sometimes there are more than others, but overall there always are. You have to know how to find them and it is often a question of perseverance. Finding a best place for investment can take a long time, but it is not shocking to visit more than 50 properties to choose one. Avoid rushing (do not confuse speed and precipitation as someone would say!).
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