A Great Day for a Mentee: He Didn't Do Anything

A Great Day for a Mentee: He Didn't Do Anything

Wednesday 21st May 2025

A Great Day for a Mentee: He Didn't Do Anything

An impressive result at the property auctiontoday; congratulations to the seller and well done to the auction house for achieving such a high price.

Interestingly, ๐—ผ๐—ป๐—ฒ ๐—ผ๐—ณ ๐—บ๐˜† ๐—บ๐—ฒ๐—ป๐˜๐—ฒ๐—ฒ๐˜€ ๐—ฟ๐—ฒ๐—ฐ๐—ฒ๐—ป๐˜๐—น๐˜† ๐—ฝ๐˜‚๐—ฟ๐—ฐ๐—ต๐—ฎ๐˜€๐—ฒ๐—ฑ ๐—ฎ ๐—ฝ๐—ฟ๐—ผ๐—ฝ๐—ฒ๐—ฟ๐˜๐˜† ๐—ฎ๐˜ ๐—ฎ๐˜‚๐—ฐ๐˜๐—ถ๐—ผ๐—ป ๐—ณ๐—ผ๐—ฟ ยฃ๐Ÿณ๐Ÿฑ,๐Ÿฌ๐Ÿฌ๐Ÿฌ ๐—ถ๐—ป ๐˜๐—ต๐—ฒ ๐—ป๐—ฒ๐˜…๐˜ ๐˜€๐˜๐—ฟ๐—ฒ๐—ฒ๐˜. It was in much better condition and had an EPC rating of C (compared to a D for todayโ€™s sale). That deal will certainly support the comparables for his refinance.

Key takeaway: Stay disciplined when bidding. Emotions can run high, but itโ€™s important to set your limit and stick to it. We stepped back in the low ยฃ80,000s.

The mentee property has a new roof, is fully insulated externally, and has a new gas central heating system. It is immaculate throughout and has great tenants paying the rent. At ยฃ๐Ÿฏ๐Ÿต,๐Ÿฌ๐Ÿฌ๐Ÿฌ ๐—ฐ๐—ต๐—ฒ๐—ฎ๐—ฝ๐—ฒ๐—ฟ than the property in the next street (which requires works!), that's ๐Ÿฑ๐Ÿฎ%!

๐—ช๐—ต๐˜†? ๐—ช๐—ฒ ๐˜‚๐˜€๐—ฒ๐—ฑ ๐—ฑ๐—ถ๐—ณ๐—ณ๐—ฒ๐—ฟ๐—ฒ๐—ป๐˜ ๐˜๐—ฎ๐—ฐ๐˜๐—ถ๐—ฐ๐˜€.

Property auctions are a superb way to purchase investments substantially below market value, but only if you know what you are doing. It's not for amateurs.

For assistance with buying or selling at auction, please contact us.

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