The property purchase check list

In this episode, Michael walks through his property purchasing checklist, using a recent real-life purchase as the example. The property had been sitting on the market for around six months, needed a fair bit of work, and wasn’t presented particularly strongly online - but the numbers, location, auctioneer relationship, and vendor circumstances all created an opportunity.

Michael breaks down the key questions he asks before buying: is the property still available, is there a rent cap, would he live there, does he trust the auctioneer, is the BER workable, does the yield stack up, will the bank valuation and engineering report support the purchase, what repairs or furniture are needed and is the vendor reasonable. The main message is that good property investing is not about falling in love with a house or chasing a bargain blindly - it is about having a process, knowing the numbers, and understanding the risks before committing.

Sometimes the best opportunities are not the shiny turnkey homes with perfect photos and lots of interest. They can be tired properties with poor presentation, realistic vendors, straightforward auctioneers, and enough room in the numbers to spend sensibly and add value. In this episode, Michael explores how to spot those opportunities and how to avoid emotional decisions by sticking to a clear checklist.

Show Notes:

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This episode is sponsored by MortgageLine. Stephen Hamilton Financial Services Ltd trading as MortgageLine is regulated by the Central Bank of Ireland.