Weekly Success Tip

Property Commodities...

This week, tens of thousands of people will descend on the town of Bathurst as it gears up for the annual Bathurst 1000 motorsport race... this influx of people presents massive opportunity to the entrepreneurial-minded.

As I drove back from Sydney to Bathurst last weekend, there was more activity than usual with people setting up roadside stores - selling everything from fruit to firewood to cars, preparing to capitalise on the influx of people. It got me thinking about the fact that certain events create lots of opportunity.

Well, when it comes to real estate, there are ‘one-off’ or infrequent events, that create enormous opportunity. The great thing is that this opportunity doesn’t just come once a year, it’s happening every day of the week.

In Think and Grow Rich In Property, Mr. Positive Cashflow says, “that to make the most out of the market you need to arm yourself with the best tools. There are commodities in the marketplace that you should buy, much like the commodities – gold, futures, stock, bonds etc. that exist in the stock market. Understanding how to best use the properties as commodities within the market is the key.

One of the five residential commodities is: Discount. The commodity of discounting is as old as civilisation, with the last 3,000 years being a mixture of opportunity and adversity. Discounts follow a simple formula. If you take an existing property, understand the true value of it and the motivations of the sale, you’re often able to find the opportunity to make a profit."

I have been visiting local real estate agents recently, looking for property commodities. When it came to discounting, I found there were several significant events that may contribute to a discount, all starting with D.

Two biggies were Divorce and Deceased estate. Of course I only found this out by asking the question, ‘Why are they selling?’ When I heard the two ‘D’ words, (and there are several others) I knew there could be a fair bit of emotion around these sales and often people are willing to discount a property in return for a quick sale in these situations.

ACTION STEP:

Go into your local real estate agent's office today and ask for the best agent available. Tell him/her that you’d like to buy some property in the area and after building some good rapport, discuss with them trends in the market etc... ask them ‘what properties do you have going for a genuine discount?’ Keep in mind that you may have to be a bit more subtle and identify properties you are interested in and ask ‘why they are selling?’ keeping an ear out for a ‘D’ word.

Acquiring a property at a genuine discount is a fast way to make instant equity that can be turned into cash.

Accumulate Riches in large amounts! Get all the training and information you require at my final Think and Grow Rich Property Entrepreneurs Conferences for 2009. As a subscriber, your tickets worth $497 are FREE. But hurry as all events are now over 85% sold out and then that’s it for the year!

Secure your seats now at: www.TGRProperty.com.au