Every great investment starts with a great deal. Investors looking to start their real estate portfolio or even a bachelor planning to buy his first condominium unit must learn how to spot a great deal to make sure that their hard-earned money will turn into a valuable investment.

Here are some tips to remember if you want to spot a good real estate deal.

It’s a numbers game.

According to real estate blogger Brandon Turner, property hunters have to understand that snapping up good deals is largely a numbers game. You have to check out tons of listings in a specific area and narrow the leads down according to your preference.

For instance, if you are looking for a good deal in Mandaluyong, try to determine your own pre-qualifications. Should the property be near major throughways? Should it be below PHP 2 million? Should you consider foreclosed properties?

Once you have narrowed your choices, you have to analyze the value of the properties. Which among them do you think would appreciate in a reasonable amount of time and for what reasons?

Location, location, location!

Getting a good real estate deal all boils down to the location of the property. This does not necessarily mean that it should be at the heart of a business district or even along its peripheries. After all, location is also about connectivity and accessibility.

The key is to identify areas where it is easy to travel to and from major places of interest. For example, if you want a property that is accessible from Metro Manila, then you should consider scouring nearby provinces where costs are lower and there are plenty of options.

Always check out deals in these lower-priced markets as they possess potential returns especially when space demands in city centers become too saturated, pushing home seekers to look for alternative locations.

Why it’s wise to invest in foreclosed properties

Great deals may sometimes come in unexpected forms—in this case, in foreclosed properties. According to MyProperty.ph, a foreclosed property is a good money-saving option for its below-market-value price. The reason foreclosed properties have relatively low selling price is that banks are often swift in disposing these assets. You can expect them, therefore, to offer surprising discounts.

There are a few things you need to consider, however, as not all foreclosures are worth the money. First, inspect the condition of the property. Does it need a lot of repairs? Where is it located? Can you flip the property to make it marketable again? Additionally, you also have to know the terms in which the bank would sell the said property.

Try searching social media for leads.

Most people are now on Facebook, so it is easier to connect to potential property buyers. Indeed, some of the greatest deals can already be found via social media. You may not land the perfect deal at first try, but posts by individuals looking to sell their properties or marketing campaigns of real estate listing services would definitely give you an idea where to look further.

Consult listing sites.

There are a lot of listing sites out there that let sellers connect easily to potential property buyers. MyProperty.ph and Lamudi.ph are some of these listing sites that provide property owners with a platform where they can reach their prospective buyers.

Since these listing sites have their own gatekeeping system, the deals posted on the platform are all legitimate. It is a matter now of analyzing the merits and risks of acquiring a particular property viewed on the platform.

Should properties be at their prime condition?

It was already mentioned that when looking for foreclosed properties, the quality of the asset must be checked. In some cases, you might find diamonds in the rough that just need a little bit of flipping to turn into a true gem.

However, there are still considerations to ponder on such as location, accessibility, and price tag. If the slightly debilitated property is in a major city, check if it has an attractive neighborhood. You should also make an effort to see if the location is easily accessible. Regarding the price tag, you would have to discuss with the seller and bargain if you must.

Early birds get the best deals.

If you spot a listing you believe has potential, you better grab it quickly before the demand swells together with the selling price. More often than not, the one who calls and locks in the property first gets the ideal price.

In times when the seller already entertains multiple buyers, you should still act fast. Your offer must meet or even exceed the seller’s expectation of the value of the property for you to emerge victorious.

Do your research.

To land a great deal, it pays to do your assignment. Before looking through listing sites, you have to do your part and get to know the market in general. Learn as much as you can about the current trends and make yourself well-versed with the concepts that surround the market.

Finding a great deal is not a talent—it is just a combination of the knowledge you have of the market, the practical mindset, and the creativity and ability to see things in another perspective.

The Philippine economy continues to be robust and is now considered one of the fastest growing and most sustainable economies in Asia. Aside from strong fundamentals, one of the reasons for the country’s stellar economic performance is due our modern-day heroes, our Overseas Filipinos.

For the last 4 years, the Overseas Filipinos based in the United Arab Emirates have been exposed to successful finance and business advocacies and have since become empowered. Savings and investment rates of those exposed to our advocacy have consistently proven to be on the rise.

On October 6 & 7, 2017, we are organizing the very first Ph Entrep Summit in Dubai, UAE. The conference is targeted to appeal to the Filipinos based in Dubai and the other Emirates who are already ready and able to enter into entrepreneurship.

The Summit will run for two (2) days. The first day will be a plenary and will feature the following top-notched speakers from the Philippines:

Paulo Tibig is the Philiippines’ EntrepChamp. He is the CEO of VCargo, one of the country’s most successful logistics company. Paulo is one of the most in-demand speaker on entrepreneurship, a main stay of Go Negosyo, former President of the Association of the Filipino Franchisers Inc. (AFFI) and a best-selling author.

Armando “Butz” Bartolome earned the moniker “Franchise Guru” for being one of the pioneer and most respected authority in franchising. He is one of the most prolific speaker of Go Negosyo on the area of business and franchising. He is a best-selling author and columnist.

Dodong Cacanando is one of the country’s most inspiring business speakers. Dodong heed the call for setting up a farm in Bukdinon after a very successful career with Hewlett Packard. Today, Dodong Cacanando’s agricultural venture, Moriah Farms is a model for many agricultural business endeavors. He is also the founder of Semilya sa Kinabuhi, a foundation geared towards business and values formation in Mindanao. He is a best-selling author.

For details and registration for the Summit (October 6, 2017), click HERE

For the second day October 7, 2017, there will be  in-depth programs that will feature Paulo Tibig on “Spotting Opportunities for Business”; Butz Bartolome on “Building Blocks of Franchising” and Dodong Cacanando on “Farming for Profit”.

For details and registration for the in-depth programs (October 7, 2017), click HERE

Filipino Expats in the UAE, it is time to awaken the ENTREPRENEUR in you! Join us!

Financial education remains to be the leading reason why Filipinos are more empowered today more than ever. BSP studies shows that savings and investment rates are substantially improving, particularly those of the Overseas Filipinos.

Since 2013, I have been coming in and out of the Middle East to conduct personal finance training to the Filipinos and it is really encouraging how exposure to financial literacy programs really change the lives of many. Here’s what they say:

Randell Tiongson is the glue that hold the personal finance world together, so to speak. He is pure inspiration to those who hear him and he has opened my eyes on how crucial it is to be financially free. The Lord delights in who he is.

Anna Lusterio, Commercial Officer, Dubai Cable

Listening to Randell’s talks made me appreciate God’s words through the bible even more. I discovered how practicable the principles found in the bible are about money and Randell incorporates those principles to each of his talks very well, which made the topics for me weightier. As a Certified Public Accountant, I really find myself amazed at how knowledgeable Randell is about personal finance, insurance and investments. The great thing about Randell is that when he talks, it is not all theories. He has done it and lived it. He walks the talk, which encourages me to apply the lessons I’ve learned to my own personal finance.

John T. Sola, CPA Audit Manager KPMG Lower Gulf

Coach Randell’s Talk helped me a lot in re-aligning my long term financial goals and personal money management strategies. His true passion and dedication towards his advocacy of educating more and more Filipinos about financial education, inspired me to follow the same vocation in helping fellow OFW’s especially in the Middle East.

Pablo Santos Jr., Sales & Marketing Manager, Sony Middle East and Africa FZE

Coach Randell’s seminars are highly recommended to all Filipinos who want to set their goals and develop their strategies when it comes to personal finance. His topics are clear, timely and relevant to every Filipino investor. He purely educates and does not have any ‘ulterior motive’ for his attendees to purchase any particular product.

Charry Dela Cruz – Roldan, Assistant Vice President, Bank J Safra Sarasin

How did the No Nonsense talks of Coach Randell impacted our lives? Simple. It reminded us that you write down your (financial) plans but at the end of the day, it is the Lord that gives you wealth and therefore, you ought to share it to others.

Bernard and Rhea Anduyon, #TrulyRichCouple and Filipino finance advocates in Doha

I have always known that part of my salary should be kept as savings, thinking that it would be enough to sustain my daily expenses when I retire. Attending coach Randell’s seminars taught me the system to map out a plan not only for retirement but a complete personal financial plan with specific strategies and measurable goals.

Rommel Mercaida, Senior Telecom Engineer, Ooredo

Attending seminars for personal finance and meeting Randell Tiongson has been a big help to OFW’s like me. It helped me handle my finances better and I learned the basic and essential matters before investing. His seminars made me realize that there are certain things you have to consider first like improving your cash flows, eliminating debts, protection from certain risks and establishing emergency funds. I also learned that there are other form of investment vehicles that you can invest your money in like mutual funds, stocks, bonds, VUL’s and real estate. I hope that a lot more OFW’s will have the knowledge on financial literacy so they can be empowered and will not be a victim of scams.

Melvin Manalastas, Accounting Executive, DMCC

This August and September 2017, I will be running 2 key of my signature programs in the UAE once more:

Retirement Planning: Learn how to properly prepare for your retirement. At the end of the full day workshop, you will be able to prepare a comprehensive retirement plan that is suited for you and a plan that really works. Find out how you can truly live a life of comfort & learn about the proper investments that is best suited for your needs objectively from two of the most recognizable finance advocates of the country.

My good friend Allan Miranda will be joining me to discuss business options that can be used to help build retirement funds and how to options on business venture to enter during retirement. Allan Miranda is one of the most visible Filipino business advocates based in Dubai.

Estate Planning: As you build your wealth, it is important to also prepare for its proper distribution eventually. How will the Philippine estate laws affect your wealth? What are the cost implication of transfers? What are the tools you can consider? As a bonus, I will also give a brief on the new tax reforms that will have an impact on estate taxation.

Abu Dhabi Run – August 25, 2017

Details and Registration via https://goo.gl/xK8hDq

Dubai Run – September 2, 2017

Details and Registration via https://goo.gl/1HaZkb

Attend my seminars and help me make you an empowered Filipino!