Right now things are hotting up…
It’s not a theory. It’s happening right now, here in the UK. This could be a investment bonanza. The UK property market is officially springing back to momentum Values are rising – yet many investors have yet to cotton on. Over the coming months this is going to be big. Very big. In fact, it could transform your property investing landscape. You see, sometimes you go and the stock is low, the prices are high, and the quality of properties are poor. Sometimes it’s too busy and too popular, and everything is going over asking price. Sometimes, like right now, many opportunities are missed, but with the right strategy and knowledge, you can get genuine bargains.
Identifying ‘off the radar’ deals.
Put simply: knowing when a property in your local area is being listed in an auction in another town or city.
The locals won’t be interested. People in your area won’t know about it. Or won’t travel if they do know about it.
This in itself will create vast fortunes. Your VERY own summer blockbuster.
Are you with me?
But a word of caution. Auctions can be risky. So here are a few of our tips of what You should consider before buying from a property auction:
Having your Finance in order – Never bid on a property unless You are certain you can get a mortgage & can complete the deal within 15-28 days… As soon as the hammer falls, you have bought the building & will be expected to pay 10pc immediately.
Setting a maximum price – You should have a firm idea before you enter the auction room of exactly how much you can afford to spend. Just because other bidders are pushing the price higher, it doesn’t mean the property is necessarily worth that amount.
Do your homework.
Factor in other costs – As well as mortgage and survey costs, don’t forget to factor in legal costs too: renovation and refurbishments costs, interest payments for your JV partner/bridging funds and any buyers fee payable at the auction house.
Remember stamp duty on properties over a certain threshold.
Following up – if the property you are bidding on fails to meet its reserve price then it’s perfectly acceptable to approach the owner or agent direct and make an offer.
Subscribing to an *Essential* website –This site lists all the properties in all the auctions across the UK.
We have subscribed for almost 10 years, and you get advanced notice of auctions, and a lot of very important price history and data.
It really is essential information for any serious property investor! But here’s the thing: if you jump right in without a plan, it’s a recipe for disaster. And to make the BIG money, you’ve got to be AHEAD of the crowds. So to help put You on the path to property auction profits, we’re offering you a brand new *free* online property training: Register HERE But I urge you to register now because only a handful of property investors have got a grip on this. Many of these auction strategies are ‘off the radar’…but I doubt this will be the case for much longer. Shrewd property investors see opportunity.
But knowing WHERE to look and WHAT to look for is essential. Best of all, it’s 100% free.