Gosh who knew. Be careful what you wish for. I’ve always wanted to be on Homes under the Hammer little did I know I actually was! There is nowhere to hide in the auction room.
Fairly new to Property Investment, Delores, my business partner, and I went off to Auction to dabble back in June 2017. We ended up bidding on a flat which we didn’t win – we had been outbid before we even started! See clip below.
As newbies we had no idea someone would go straight in and start the bidding at £25k (for a short lease property) ABOVE guide which totally threw us. Today we enter the room with far more knowledge of price, experience of the process and gumption and often walk away with what we went for! Having a strategy and doing your research before auction is key. Don’t leave home without it.
It’s funny that even back then we had a thing about garages and I recall that attracted us to this property. One of our themes seems to be garages. They have so much potential on many levels and can support future growth especially now in lockdown.
What’s your property theme?