FOR SALE & TO RENT PROPERTIES
Using Property Filter to find lease option deals involves setting up a lead generator that searches for properties that are both for sale and for rent. Here's a step-by-step guide to create a lead generator for these types of deals:
Create a New Lead Generator:
Select 'Leads Generator' from the sidebar.
Click 'Add New Leads Generator'.
Select Your Target Area:
Input a postcode where you want to search for properties, e.g., L2 for Liverpool.
Expand the search radius, for instance, to two miles.
Add postcodes that cross the circle in the selection for a broader search area. You can also add specific postcodes manually.
Choose a Strategy Template:
After setting the area, select the 'Lease Options for Sale and to Rent' strategy. This template focuses on properties listed both for sale and for rent, which can be suitable for lease option deals.
Name your lead generator for easy identification, such as 'LVP_LeaseOptions', and save it.
Refine Your Criteria:
Edit your lead generator to refine your search. For instance, exclude certain property types like Bungalows if they are not part of your strategy.
Set a maximum price limit to filter out properties beyond your budget.
Exclude property tenures or purposes that are not relevant to your strategy, such as shared ownership, retirement homes, or new builds.
Review Your Leads:
After setting up your lead generator, review the properties it finds. Focus on those marked as 'Back and Reduced' as these often indicate motivated sellers.
For each property, check its details, including its listing history for sale and rent, to understand the seller's motivation and the property’s potential for a lease option deal.
Property Analysis:
Delve into the history of a property that catches your interest. Look at its listing and price changes over time, both for sale and rent.
Assess the property's features and potential as an HMO or student let, if relevant.
Check if the property is listed with multiple agents or platforms like Strike or OpenRent, which may provide insights into the seller's motivation.
By following these steps, you can efficiently use Property Filter to find properties suitable for lease option deals. Remember to regularly review your leads inbox and focus on properties with signs of motivated sellers for the best opportunities. Always conduct thorough due diligence on each property and understand local market conditions to make informed investment decisions.
NEGATIVE EQUITY PROPERTIES
Setting up a Property Filter lead generator for deals in negative equity involves identifying properties listed for sale at a price lower than their previous purchase price. Here's a guide on how to do it:
Create a New Lead Generator:
Click on 'Add New Leads Generator'.
Enter a starting postcode for your search area, e.g., L2 for Liverpool.
Expand your search radius (e.g., two miles) and add any relevant postcodes that appear within that circle.
Choose Strategy Template:
From the strategy template page, select 'Negative Equity'. This template focuses on properties selling for less than their previous purchase price.
Give your lead generator a name that reflects its purpose, like 'LVP_NegativeEquity', and save it.
Refine Your Criteria (if necessary):
If the initial search yields too many properties, edit your lead generator.
Apply filters such as a minimum number of bedrooms, a maximum price limit, and exclude property types not relevant to your strategy (e.g., Bungalows, leasehold properties, or auction listings).
Save your changes and confirm.
Review Leads:
Check the leads generated. Focus on properties that are 'Back and Reduced' as they often indicate high seller motivation.
Investigate each property's details, including its price history, current sale price versus previous purchase price, and any other factors indicating seller motivation (e.g., listed with multiple agents, cash buyer only).
Property Analysis:
For each property of interest, examine its listing history, price changes, and reasons for any reductions.
Assess the property's features and why it may be in negative equity. Look for signs of a motivated seller, such as a property listed with multiple agents or specified as cash buyers only.
Refine and Monitor:
Regularly refine your lead generator criteria based on the results you receive.
Keep monitoring your leads inbox, focusing on the most motivated sellers for potential deals.
Remember, the goal is to find properties where the selling price is less than the previous purchase price, indicating potential negative equity. These properties might present unique opportunities for negotiation, especially if the seller is highly motivated. Always conduct thorough due diligence before proceeding with any deal.