Don't Overpay For Investment Property in Liverpool: Patience is the Key
Thursday 6th February 2025
I received a WhatsApp from one of my mentees yesterday which sums up the distressed assets property world, whether auctions, receivers, call options, debt for assets swaps etc….
It’s not a sprint, but a marathon and buying at all costs, on impulse, without knowing what you are doing can damage your wealth.
Often, I see properties selling for more than they’re worth. I see it in every single auction and immediately know the buyer is an amateur. The professionals know where the value is and drop out often substantially below what the amateur pays.
This week a property which I viewed was overpriced at Guide and Reserve, and in conjunction with a mentee we decided to sit it out and see if it entered our unsold list for a cheeky post auction offer. It didn’t and sold for a silly price relative to the market, condition, location, and rent. Another property, which I viewed with the same mentee, looked fabulous in the photos and during the viewing until we spotted the subsidence - it was subtle but would have been identified by a professional surveyor. Again, another amateur is making a colossal mistake.
(There is a professional trick to reassure you that the property is mortgageable, so don't fret).
Distressed assets property investment can secure your financial future if you know what you are doing and, indeed, dare I say it, listen to advice.
The best advice I can give is to have patience. Fantastic, eye-watering deals do land, but only to those who know what they are doing and are patient.
