The Progressive Property Podcast How I Buy Property Via Auctions
In this week’s episode, Kevin talks about all things auctions. Listen to Kevin talk about how you can still make money with auctions, what to look out for and how you can avid expensive mistakes.
Discover how tens of thousands of ordinary brits are quietly getting rich with minimum investment!
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KEY TAKEAWAYS
- Making good money on auctions is all about knowledge and education. You need to have a good overall understanding of property investing and be educated around what to look for.
- Relationships are important to make deals with estate agents. With auctions, there’s no relationship needed, in this sense it’s easier and requires less work.
- With auctions, you know what other people were willing to pay. As long as you are educated it’s then easy to see if you have offered the right price or not.
- There’s 200+ auction houses around the country, just because someone has been to one and it wasn’t good or was expensive that doesn’t mean there aren’t deals to be had in other places.
- Keep things financial, don’t let emotions have an influence over your price and use your knowledge to get great deals.
- Kevin never makes early bids. He waits until people stop bidding as much and then offers. Sometimes he even offers post-auction if there have been no bids. If you can read the room properly then you can offer directly with the owner and use it not selling at auction as leverage.
BEST MOMENTS
“Auctions are phenomenal now”
“With right move it’s already too late”
“If you bid too early you’re adding fuel to the fire”
VALUABLE RESOURCES
https://www.progressiveproperty.co.uk
ABOUT THE HOST
Kevin McDonnell
Kevin McDonnell is a Speaker, Author, Mentor & Professional Property Investor. He is an expert when it comes to creative property investment strategies. His book No Money Down: Property Invest talks about how to control and cash flow other people’s property to create financial freedom.
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