Trish McGirr walks through her property investment process: create a tenant profile, use Rightmove Plus to map your search area, narrow hundreds of listings to 4-10 properties, then analyze each one by monthly price, condition, and renovation costs before negotiating with agents.
This is obviously, it's a big thing, research, knowing the area, knowing your client, knowing all of this, we call it the customer avatar and then the boost the academy world. So where's the next steps then? So you've done all of this, you've found the area. What do you then do in your advice? What do you teach on these programs when you're looking to take that next step? People are looking to go to the estate age.
So when you've decided on your area.
You know, looking at whether you're corporate or whether you're going to do the.
Holiday trade, the passing trade, the weekend.
Trade or a bit of a mix, and you've worked out which property, the next thing you want to do is, and this is easy to do, set.
Up a rightmove plus account, go into rightmove, pick the area geographically that you're.
Looking at, draw a border around it.
And look for the properties in that area that are for let that fit.
The kind of format you've just discussed. Your ideal customer avatar probably wants a two bedroom apartment with a nice ensuite.
They want parking, they want close to city centre, they want something modern. You can then use a rightmove plus.
Account to draw a nice little map in the comfort of your home with a gin and tonic in your hand and pick out the properties that fit that profile and then start to knock them off the list. So before you've even gone to an agent, you've now narrowed that maybe a list of several hundred properties down, down.
To 4, 5, 6, 8, 10 properties for you potentially to ring fence as they should be on, they should be.
On your watch list.
And then again doing a bit of research on those 10, what would you recommend? If they've got those 10, would Dave then go and look at them be the streets, the areas, the amenities?
Absolutely, yeah. The next thing I would do when I'm looking at those properties, I'm then looking at, you're taking cues from what you're seeing. So what you're looking at is you're.
Filtering them by the price per month.
But you also want to take cues from what you can see on the.
Screen, the description of the property. Does it look like it's available?
Like right now you want to look.
At condition of the property, what do.
The pictures look like of that property? Does it look like it's been looked after?
Does it look like you're going to have to put a bit of money.
Into it because you might be solving the landlord problem?
If you come along and say look I want to rent that property. I'm going to put some money into.
It, which is going to improve it. I'm going to give you a really.
Good rent on it for a period of time.
But you're going to have to give me some leeway for me to make.
Obviously my money back by doing something different.
You've got to take cues by actually.
Reading the text, looking at the picture.
And seeing what the evidence is telling you about that listing.
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