The property market can be quite the jungle to navigate, especially with rising costs and all of the new builds flying up everywhere. Of course, it would be natural to want to look into buying BMV properties so that you can buy cheap and yield greater income in your investment. A good balance of using the internet and in-person will broaden your reach.

Here are some suggestions:

1. Searching online.

It can be a bit tedious, what with there being so much out there on the internet these days, but there are companies like CityRise that can help you with this. They are constantly keeping their eyes on the property market and looking out for new builds and BMV properties. Chances are, you will save more time by using a service like this that will point out the options in an area or areas you are looking at, meaning you can get a head start on putting your interest in.

2. Property auctions.

These auctions tend to sell off properties for lower prices than you would find posted in an estate agent’s or online. Some of them are just in need of getting sold off quickly, while others may be properties that need a little more of a touch-up than normal. Whatever the reason for the auction, it doesn’t matter for you as long as you can get the information on the properties, work out whether it is a good investment and get in there at the right time to bid for it.

3. Good relationship with estate agents.

Estate agents know all about property, of course. It’s a good idea to get in touch with some of them and start building up a good rapport with them; if you have a good enough relationship with them, they might be more inclined to give you a heads-up when a BMV comes on the market. When these properties come along, they’re going to choose whoever is nice and super reliable in order to get these properties sold.

4. Good marketing.

Whether you use online advertisement, send emails or even post leaflets through people’s letter boxes, by approaching vendors directly, you might find yourself with a sale. There are many reasons why a seller might be trying to get rid of their property for less than the usual price, such as wanting it gone fast, and your advert may come just at the right time.

Final thoughts.

BMV properties are a good way to get increased income with the right amount of research and work put into it. Like with anything in life, it’s not as easy as just bidding on a cheap property and hoping for the best. You need to take into consideration the costs renovating a property will bring versus buying a standard-priced property with minimal renovation costs. Is it really cheaper? For some properties, buying cheap and renovating will still save you money, just make sure you do your research first!