Sunday, 8 March 2015

Radius and Price Property Mapping - how I find the deals

Radius and Price Property Mapping - how I find the deals 

How to map property without Rp Data (the cheaper way)

Ok so below they send me Auction results for Brisbane suburbs every Sunday. 
Now I go through and see what sold and also highlight some figures.

I looked at 40 Hamersley Cct Alexandra Hills sold $400000

that sale price is below average but only by like 20,000 so not that different .
But I did know that that street should get 420,000 averages.

I went through and mapped out sale figures on streets in Alexandria Hills (recent sales and some older ones) just to get a figure that I could be alerted to.

So it looks like this Hamersley Street $400k average
then next street Blah street $380k average

A property that came up for $300000 would be worth looking at on Hamersley street. You can do the same of your area or other surround suburbs. 

Use for values

This link shows house prices on street. 
Make sure that you preference recent sales.
How did I get to that link above? 
I just typed in 40 Hamersley Cct Alexandra Hills into Google and then clicked on the link and then click left side link to house prices in the street.

Try and just go through the results page by page and work out what each recent sold price is , then you get a rough idea of what a good buy in price would be on that street.

You can take this a step further by looking at land size and price. 

If I see a house on this street for $500000 but its above average land size , say the land is 1024sqm then a flag goes up because I might look at it and see if I can subdivide the house and land. 

Its $100000 more then the average on the street , BUT I can keep house sell for average $400,000 and then sell land for $200k - $250k , not a huge profit , but a profit none the less. 

I did this in on "My First JV Deal" . 
The average for 405 square metre block was $500000 
but I saw a block for $575000 for older house on 810 square metre block, 

no one wanted it because the house was in old condition and was $75000 above average. 
Mum and Dad buyers wanted the good house for $500000 on that street and don't see value in the land. 

I am different I see massive value. Buy $575000 sub divide and get house worth $480,000 (old condition) and sell land $330000. 
so the actual value is hidden. 
Thats why you need to know street values quickly.

Hope this helped you out. Sharing is Caring.