Should I go to a property auction?
Sunday Q&A is here. This is where you get to ask our property entrepreneur anything you want. If you have some questions, you can post them in the comments section below the video. In this episode, one of the key issues Samuel discusses is buying properties at auction. Are you wondering ‘Should I go to a property auction?’ Watch this video to find out what you can expect if your answer is affirmative to the question ‘Should I go to a property auction?’
Attending an auction is creative way to invest in properties. They also can be rather fun! At an auction, you will find properties that are below market value. This means you’re going to be faced with houses and flats which have strong potential ROI. Furthermore, often these properties will have problems. These issues could be structural or cosmetic. This is great for you as an investor because you see solutions where others see challenges. You can go in, fix it up and add value. By taking on the property, refurbishing it and lifting the value you are creating profitability. One of the things that Samuel loves about auctions is that the process is fast. Once the offer is placed, neither party can pull out. There’s no messing around!
If you are going to a property auction, make sure you’ve done your homework. You need to visit the properties and have surveys conducted before the auction, as normal. Go through your calculations to make sure there is sufficient ROI to make the investment worthwhile. Think about the refurb cost and the end value.
Other topics discussed in this video include: turning B&B’s into HMO’s, female-only properties, corporate lets and the crash course. Watch this episode, share it and leave your questions in the comments section below the video.