Part II: Buying at the right price
There are lots of common sayings that relate to price: ‘You only get what you pay for’, ‘You pay peanuts; you get monkeys’, and so on. But for me, the most important distinction when it comes to property investing is that between price and value.
Feeling confident that you have paid the right price for an investment property is all about thoroughly understanding the market you’re buying in. The property market, of course, is dynamic, so a true understanding of value will only come about with initial research and ongoing experience and engagement with your target market.
Chapter 7: Preparing to buy
As I mentioned in part I, research and knowledge of your market are the most important part of property investing. ...