What if you can't get a discount on the property you are investing in?

As a general rule you should never pay asking price in property investing, you should always aim for a discount.⁠ ⁠ But sometimes the discount might not be significant, or significantly less than what you spend on the refurb or conversion of a property. Sometimes there’s just too much competition on the buying side.⁠ ⁠ That is ok, as long as you can identify an uplift potential to be exploited during the refurb phase.⁠ ⁠

This can come in a range of ways, for instance, by exploiting the existing layout of the property to create additional rental space, by creating an extension at the rear of the property, extending into the loft, converting the basement or converting an outbuilding such as a garage. I always ask how can I add value to this when looking at potential deals.⁠