A question I’m often asked is,
“Peter, should I look for repossession properties for my buy to lets. Should I make it a particular strategy of mine to only look for repossessions?”
I think the premise behind this question is there’s a misconception that repossessed properties are always cheap and make good buy to lets.
In the video I’ll tell you how I think this misconception arose, but in reality, in my experience, it is not the case that repossessions are necessarily cheaper than any other properties that are on the market.
Put another way, there is no special discount because the property is repossessed.
But that’s not to say that repossessed properties can’t be bargains.
In the video I’ll tell you the two main places where you’re likely to find repossessions and how to identify them.
I also run through one of the main risks involved with trying to buy a repossession.
Because there is a twist in the tale, and many people don’t realise that trying to buy a repossession isn’t altogether straight forward and you need to go in with your eyes open and be aware of this one particular risk.
So please take a look at the video. It’s around 9 minutes because there’s quite a lot to say so please grab a cuppa and put your feet up and enjoy the video.
Here’s to Successful Property Investing.
Peter
Peter Jones
(ex) Chartered Surveyor, author and property investor
https://www.ThePropertyTeacher.co.uk
By the way, I’ve rewritten and updated my best-selling e-book, The Successful Property Investor’s Strategy Workshop, which is an account of how I put together my multi-property portfolio, starting from scratch and with no money of my own, and how you can do the same.
For more details please go to:
https://www.ThePropertyTeacher.co.uk/the-successful-property-investors-strategy-workshop
