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, 𝗼𝗻𝗲 𝗼𝗳 𝗺𝘆 𝗺𝗲𝗻𝘁𝗲𝗲𝘀 𝗿𝗲𝗰𝗲𝗻𝘁𝗹𝘆 𝗽𝘂𝗿𝗰𝗵𝗮𝘀𝗲𝗱 𝗮 𝗽𝗿𝗼𝗽𝗲𝗿𝘁𝘆 𝗮𝘁 𝗮𝘂𝗰𝘁𝗶𝗼𝗻 𝗳𝗼𝗿 £𝟳𝟱,𝟬𝟬𝟬 𝗶𝗻 𝘁𝗵𝗲 𝗻𝗲𝘅𝘁 𝘀𝘁𝗿𝗲𝗲𝘁. It was in much better condition and had an EPC rating of C (compared to a D for today’s sale). That deal will certainly support the comparables for his refinance.
Key takeaway: Stay disciplined when bidding. Emotions can run high, but it’s important to set your limit and stick to it. We stepped back in the low £80,000s.
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 £𝟯𝟵,𝟬𝟬𝟬 𝗰𝗵𝗲𝗮𝗽𝗲𝗿 than the property in the next street (which requires works!), that's 𝟱𝟮%!
𝗪𝗵𝘆? 𝗪𝗲 𝘂𝘀𝗲𝗱 𝗱𝗶𝗳𝗳𝗲𝗿𝗲𝗻𝘁 𝘁𝗮𝗰𝘁𝗶𝗰𝘀.
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.
Property Sourcing Liverpool
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