Just a quick property update for you on auctions. I went to a local auction in Huddersfield last week to watch the auctioneer cringe. They’ve been quite ‘cocky’ in the last couple of years, with a lack of respect and time for investors, inflating prices and playing silly games to increase their commissions – how times change.
Of about 33 lots:
3 had been sold prior
66% were unsold on the night by not reaching reserve
Couple of properties went for what looked like 20-25% BMV
Couple of houses were a fair price
One new build apartment – no bids or interest at all!
Was surprised to see a building plots being in demand, as bank finance is tight for investors and the new build market stagnant. Probably for self-build or a builder with time and money on his hands.
I recommend you watch your local auctions and contact the estate agents about any unsold lots. They have bargains waiting to be picked up for those of you still buying.
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25th Nov, Manchester (& 27th Nov, Darlington) – Cash Flow Nights,
Rent to Own Options with David Lee, How to Buy a House for £1!
28th Nov, Birmingham – The Property Investors Xmas dinner,
with Simon Zutshi and the PIN Team
29th Nov, London – YES Group 15th Anniversary Party,
See you at THE Party of the Year!
1st Dec, Manchester – Female Entrepreneurs from Australia,
Two amazing ladies, Getrude Matshe & Samantha Backman
3rd Dec, Leeds – Northern Property Network Meet with two amazing guys 😉
|Others speakers details removed as requested.|
| Bobby Gill – Student HMO Landlord
Bobby will share with you how you can put together a deal in this economy by being creative. Why Student HMO’s are a great way to invest for yield and what to watch out for.