If you’re planning on growing your property portfolio this year, the one action you will have to diarise is regular viewings.
Creating a system so that you regularly contact agents and vendors, organise viewings and follow-up is key to your actions if you’re going to find deals.
Create a spreadsheet with three tabs at the bottom – one for each area that you’re analysing. Better to analyse a postcode area than just a general town/ city wide area.
Within the spreadsheet create 9 rows…
- Average price of property sold in the last 12 months
- Population size & growth
- Large employers in area
- Growth plans and development
- Transport links
- Spare room average rental income
- Number of tenants looking for rooms
- Number of rooms available
- Views from local lettings and estate agents about HMO demand