Daily Archives: October 18, 2009

5 things they don’t teach you at Property Investment School

1]. New updated “associated persons” act that I spoke about a few days ago.

If you don’t want to fall foul of the law and become a “tainted” individual, then you really do need to read this, or get your accountant to explain it to you, and soon.

2]. I “won’t be involved in a multi offer situation.”

Well if you ask me, this is just plain stupid.

Buyers, who are obviously 100% “wanna-be” theory investors are the only ones who will verbalise this type of statement.

How do I know that?

Well true investors work to the “numbers” and believe you me they are based on a totally “unemotional” quotient and subsequent calculations.

Their min/max limits are already set based on prior calcs re ROI / interest rates / tax rates / capital appreciation / etc. If the property isn’t available to them at where the “numbers” say it should be, then put simply……. they just walk away.

So based on that I suggest the people making these claims to me are in “fairyland”, perhaps they’ve just got nothing else to do on a Sunday afternoon.

Tell me why wouldn’t you place an offer on a property…on your conditions, you don’t (and won’t) actually know the conditions from the other buyers, but hey what’s the worst thing that can happen……….their conditions might actually not be as favourable as yours, and your offer might even be accepted as the best one!

Oh no, that can’t be right can it………because then you might just have found an alternative formula for purchasing rental properties, and in fact actually buy some properties on your terms……….drat!……..that would result in no need to keep paying that money for extra “advanced” courses now would there? Hmmmm………thinking about that?

3]. How not to get involved in multi-offer situations?

Surely as an experienced individual of the “financially aware” school, you would be mindful that if you want a hot deal on a plasma TV you visit the store on the 30th of the month.

Bigger purchase like a car, house load of furniture, collection of whiteware for your new home…..your absolute number one time of the year to visit a seller of these products is in the last week of March.

Ok I agree, not exactly the easiest thing to time……….but I’m trying to help you here.

That’s just a very basic & simply lesson in retails sales theory / economics. You’ll have a greater chance of success in major chain stores than in non-chain store shops, same as publicly listed (as in sharemarket) Vs smaller privately owned stores.

How, by visiting a potential property during the school holidays. Even more important if the property has just been listed.

Why?

School Holidays in the NZ Real Estate market are a time of reduced activity in the volume of numbers coming through the door, phone calls into the office and ultimately, numbers visiting Open Homes. As I have said many times before Real Estate is about Supply & Demand.

Anyway here’s the Good News…..there are heaps of school holidays in each 12 month period, so ultimately you’ve got heaps of buying opportunities.

There’s 2 more parts to this – but as I’ve been getting a bit of flack lately over the length of my posts…..I’ll cut this short here to continue in Part II soon.

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Real Estate Photography Tip No. 4

Making the browser / buyer feel “in the picture.”

Getting the right perspective is a very important aspect that professional real estate photographers seek to constantly achieve.

Many consumer/prosumer real estate photography shots take the angle that its best to use that expensive wide angle lens to get as much of the room to fit into the frame as possible.

That has the browser / buyer looking at it from what I would call a “third person” point of view.

However you will note that some photographers employ the “first person” perspective just that little bit better than some.

A “first person perspective” is to my mind a way that makes the browser / buyer actually feel involved, feel “in the picture.”.

How is that achieved?

Well and here’s the amusing thing, it’s actually a different depending on the room.

In the dining room, for example, I have found one of the most involving shots is not the one taken at eye level standing up…………

BUT at an eye level that would approximate someone sitting down at a dining room table.

Even better, taken from the perspective a person sitting in that one chair at the table, preferably the most distant chair from the wall / window, so that the table / angles / corners assist with leading the browsers / buyers eyes in directions you want them to.

If it was the kitchen, then a standing position, perhaps just lean over the sink a bit to allow the browser/buyer to imagine themselves standing there and surveying the view.

Keep in mind if you’re over 6 ft like me, then you may consider lowering your picture taking position to about 5ft 9″ to make sure it “feels right” to the majority of viewers.

That’s a bit fussy isn’t it?

Well actually no, and very relevant . If you aren’t 6ft, perhaps 5ft 4″ then you will definitely have a different perspective standing at the kitchen sink and looking out.

To that person, its completely normal, no matter what kitchen you are standing in. So it really does make sense to take a shot from this eye level perspective.  Just one anyway.

Can I get all non-PC here, and say that as I walk down the street, I notice the trend that many couples have one partner quite a bit taller than the other…… shouldn’t you take this into account in your real estate photo taking?

Let’s move to the lounge, what would be a good height here, that’s right, sitting in a lounge chair.

Sure you can still take a shot that shows the overall size of the lounge but a second “first person” shot is also a great additional one to take. Especially when I look at many listings and see the same basic photos, lounge x1, kitchen x1, each bedroom x 1, etc.

Hopefully my example shots, although not perfect, give you some ideas to try something next photo shoot.