There are a growing number of distressed sales around the country, due to recent changes in the economy. If you’re in the market for a home or property investment, a distressed property is an excellent option to get instant equity and potentially pick up a good deal.

Here are some tips from RealRenta to help you find and secure a distressed property:

• Make sure you have pre-approved finance as distressed properties have a lot of demand, so be ready to go.
• Find a Real Estate Agent who has a lot of experience with this segment of the market, as distressed properties often come with a range of unique conditions.
• Distressed properties generally mean that the seller needs to sell in an urgent timeframe due to things like divorce, death, illness etc. So many sellers, will want to sell the property themselves to avoid high agent fees.
• It is better to buy a distressed property in a good suburb, than buying a distressed property in an area that is filled with foreclosures, social and economic problems.
• Be prepared to repair the property. Have a budget for possible repair work and procure some quotes from builders/tradespeople before making an offer.

Once you have purchased your Investment Property, you can advertise it on RealRenta to access some of Australia’s most popular RealEstate sites like realestate.com.au .

RealRenta also gives you access to quick Bad Tenant Checks along with easy overall management of your residential investment property.

Take advantage of our (up to)  2 Month Free Use of the RealRenta platform,