I purchased my first distressed property in my early 20s.
At the time I had no idea what I was doing. I just happened to be in the right place at the right time, and the deal of the decade fell in my lap.
When I was ready to invest in a second property, I naturally wanted to find another great discounted property deal.
Of course sellers don’t advertise their properties as “distressed” or “below market.”
And the few “deceased estate,” “divorce,” or “mortgagee” sales I found were already out there, and every Tom, Dick and Harry was buzzing around them in a lather and bumping up the price rather than offering me any discount.
I also discovered that there is no education curriculum to teach you the ropes on how to locate, buy and, sell distressed properties in Australia.
So drawing on my legal expertise, as a lawyer specialising in debt, I developed a repeatable 3 step process for investing in distressed properties in Australia.
“We purchased a property for $270K. Market value without any renovations it is $430K.” – Anare Kouliarou
“We are currently doing a takeover deal… looking at a good $100K profit.” – Atkinson
“I bought a property that was a divorce case and am looking to make $90K conservatively.” – Enrique
“My cut would be $20K for 60 cent investment for a postage stamp… pretty amazing.” – Mark Foley