Need Property Investment Info

[YevaBailey]

Can anyone help me on how to find auction property before it's ever advertised?

[quiksilva]

Get friendly with the asset management teams of the various banks.

[nakachalet]

hi yavabailey

when you do come across a property priced significantly below the market value, maybe 30% or so....

pls kindly let us know too, many of us do have some idle cash sitting around and waiting for an opportunity....

but most of us have been here so long already.... and we are sot of growing roots.... and becoming just a little lazier.... lol

so we can help you bid up the price some.... lol

cheers yavabailey

seriously, if you have the time, you just need to drop in on various banks and check out each in-house advertisement. it is time consuming. and after you think you find something meeting your criteria, hop back into your car and drive to the location to inspect the property. if you really really like the property, you might ask the responsible manager to assign someone with the key to go with you to inspect the interior.

a general rule of the thumb, from my past personal experience is, you might find one really good deal after personally inspecting some 40 to 50 properties.... still wanting to invest in distressed properties?.... lol

Edited August 27, 2009 by nakachalet

[12DrinkMore]

All the good deals are creamed off by the managers and employees of the banks. One manager I know has built himself up a tidy portfolio of property in his and his wife's names, buy it cheap with a cheap loan, rent out the property to cover the mortgage and put it up for sale a couple of years later.