Finding properties that are on the market at the ‘wrong’ price is a great way of discovering those below market value deals.
For this, we recommend using Rightmove.
As in previous lessons, you will need to go to Rightmove and filter for your desired property type and location.
However, don’t select a price range, yet.
To do this, we will be using the map listing to examine the opportunities as they present themselves.
It is helpful if you are already familiar with the area you are looking at. If not, then it isn’t a problem but it will take you longer to understand the data.
What you are looking for, on the map, are similar properties that are close together, that are very different in price.
In the video above, Rob has found two similar properties for sale, with a price difference of £17,000 – an amount, not to be sniffed at.
As a rule of thumb, a difference of 5%, is probably worth further investigation.
But of course, a large price difference between properties that are close to each other, would not necessarily mean that one is wrongly priced.
And this is why it is important to build up a mental picture of the area and really get to grips with how it is put together in terms of amenities, culture and ultimately house values.
Keep at it and you will start to spot mismatched properties which you can save to a shortlist, giving you a good starting point from which to take things to the next stage.