Diary of a UK Property Investor – www.hbfinvestments.co.uk
I first got started on property investing through reading Parmdeep Vadesha’s e-book on how to buy ‘below market value’. It cost £99 and this was my best return on investment ever!
However, reading the book was one thing, taking action to make the theory a reality and finding/buying investment properties at discount prices proved a harder nut to crack.
My first tactic was to pick an area I wanted to invest [Burton on Trent] and I simply contacted estate agents and asked for a list of properties they had for sale that were (i) vacant and (ii) desperate to sell.
I viewed over 20 properties in one weekend and put offers of 20% less in on them all. The result was amazing and simple. I got one person accepting a 20% discount in price and loads accepting 10-15%.
I bought my 1st investment property at a discount in Burton on Trent in October 2003 and within 6 months I refinanced £30K out of the equity which I used to go an buy further investment properties.
So, the first thing investors should do if they want to buy property is to take action and make offers at discounted prices. It is a ‘numbers game’ and someone will eventually accept!
Source: David Coughlin – HBF Investments
