Below market value properties are right at the core or a backbone to building a portfolio, and further to scale your portfolio over a period of time.
That’s the easy bit.
Everyone knows about it.
However, how much time do you spend on identifying some creative ways identifying such below market value properties?
Not much I guess….
If you are not able to fill your property viewings database with enough stock then you are in for a treat with this post.
The three methods listed below, are all you need to quickly fill up your deal database with the most relevant properties that suits your investment criteria.
1) The Rightmove Keyword Search
Time is of essence when you have to skim through hundreds of properties advertised on websites like Rightmove.
If you are investing in multiple areas and have to get to relevant properties quickly.
Here is the deal:
Rightmove gives an option to add “Keywords” to look for in the descriptions of the properties advertised. Use it the right way, it can be powerful tool to exactly nail down on the criteria you want to shortlist the properties.
Here is a quick list of keywords I entered into the search and the basic ones I use when I am short of time to search for properties.
Keywords: “modernisation”, “refurbishment”, “reduced”…..
And….you get the picture.
This results in:
Here are the results that you get for one investment area, and if you take 2 to 3 areas that you can easily navigate to within the 10 mile radius, you have a list of properties that you can cover which are most relevant to what you are looking for.
2) The 2 Plug-Ins To Find Below Market Value Properties
Browser extensions or plug-ins are of great help when you are performing any kind of business tasks.
I love chrome browser in particular given its wide variety of extensions on offer that seamlessly work with websites you access.
Here are two plugins we use with Chrome browser that helps us track below market value properties.
If you are looking for a quick view into properties whose prices have been reduced and by how much on Rightmove then this chrome browser plugin is really handy.
Property Tracker, once installed on Chrome browser will display an arrow mark to indicate if a property price has been reduced or stayed still or increased.
It also indicates how much price reductions or increase was done and when it was done tracking the history of reductions.
Particularly useful if you would like to assess how motivated the seller is to sell the property over a period of time.
This is the second extension we use to give a quick glance at estimated ROI/Yield/Rent for a property within the area.
Within our usage we found that these statistics are little higher than what we see practically. So, we reduce the estimates by a factor that we are comfortable with.
You could do the same thing but will require a bit of usage of the plugin for a period of time to understand that factor that suits you.
Please note that this plugin is to be used for a quick view into estimates and the very obvious recommendation is to run your numbers through to arrive at estimates you are comfortable with.
3) The Well Known But Most Ignored Zoopla Filter
Let me put my hand up and say, I am no exception to this.
I enquired couple of investor friends and first time buyers on if they know about the “Most Reduced Filter” within Zoopla to find properties.
I realised, I wasn’t alone.
Pretty much many knew about this filter within investor community but they don’t use it that often.
I knew this filter lists some good properties in my investment area within North West, however I probably ignored this for best part of a year.
The one time I used it in anger after the year, I got a deal which worked out by agreeing a delayed completion.
Since then, this filter features regularly in our search criteria for below market value properties.
Now that you know 3 quick ways to fill your deal database with below market value properties, give it a go and let us know how you get on.
I actually have PATMA, Property Tracker and another one called BrickPal which gives you estimates on ROI on every property and lets you change the numbers it uses to work it out!