One foot on the auction ladder

  • 1 year ago
  • 1
auction ladder

We always admire those with great property portfolios. Investors who are succeeding in their property journey are easily looked up to and many aspire to do the same.

But we wonder how they started out. How do we get one foot on the auction ladder?

Buy to let is a proven, positive investment method in property but buying with tenants in situ can prove even more beneficial. What could be better than instant income from the moment the gavel falls and you become a landlord. Now of course, becoming a landlord carries huge responsibility to not only your property but to your tenants too. Keeping up to date with legislation is key to ensure your methods meet that required of you, but hey, this marks the beginning of your property journey.

Northumberland Court, a studio in Margate, shows great opportunity to do exactly the above. With an attractive guide price and a view to start not only small, but manageable, this lot is a great starting point for any keen property entrepreneur.

5 Great benefits to you when investing in property:

You are in charge. When investing in property you have full control. From the location, property type, rental amount to deciding if you’d like any help with the initial or day to day management.

Property appreciation. Due diligence is key when buying through auction. The saying,’ buy the worst house on the best street,’ comes to mind when thinking ahead and giving yourself the best chance in buying property that will be worth more in years to come. Be sure to look at price comparables as well as the property surrounding area before downloading the property legal pack.

Instant income. Tenanted property provides instant income and minus any mortgage (where applicable) and maintenance repairs your left with gross profit, every month.

Tax benefits. Being a rental property owner means a write off of interest on your mortgage (where applicable) maintenance repairs, travel expenses and property taxes among other taxable benefits.

Property is seen as ‘recession proof,’ after all, everyone needs somewhere to live. As much as the supply and demand changes, market dependant, the options when owning property are vast. Whether buying to flip, buying for rental income, using the property as a holiday let or for a future pension plan the possibilities are almost endless.

Buying through auction provides exactly what all investors look for, opportunity. Along with speed and competitive bidding the auction route is one that is becoming more and more popular among buyers and sellers.

Connect UK Auctions provide such a service that means a one-point contact for you, the entire journey. Because auctions can be seen as quite intimidating, at first, we have implemented an amazing new strategy that means you can bid or just spectate from your own home. This strategy is called Connect Realtime© and has ensured all your buying and selling needs are met.

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