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#48
Have you been put off buying UK property at auction due to the intimidating atmosphere of a live auction?
Join me as I make my first foray into the exciting, adrenaline pumping cauldron of a live auction. The property is a two-bed terraced house in Stoke.
Auctioneers Sally Smith of Loveitts and Andrew Brown of Strettons give us valuable insights into the techniques and strategies adopted to squeeze the last few pounds out of buyers to secure the best possible price for their clients.
Andrew calls it 'schlepping the bones out of it', and, knowing how they do it may help you avoid paying more than you intended at auction.
Dave Goodfellow of Ikonic Propertymay well have wished his wife and father-in-law had heard this episode before they paid 20K more than Dave had instructed when buying their first investment property many years ago.
Listen now to see if this is the deal that results in a happy conclusion to my self-imposed four-month challenge to buy a property at auction from my home on Hong Kong without setting foot in the UK.
If not, only three weeks remain…
This week’s show also features contributions from Dave Goodfellow of Ikonic Property and Jay Howard of Hammered.
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Author / Auction Insider
With more than 18 years of experience dealing with all aspects of property sales and purchases, Jay is a trusted property expert. Jay is co-author of Amazon #1 seller Before the Hammer Falls: The Insider’s Guide to Property Auction Success, which provides you with the tools and information you need to find success at auction. Jay also used to be an Auction Manager of one the top London auction house and formed part of the judging panel for the Property Investors Awards, a testament of his respected opinion and authority within the industry.
Jay’s interest in Blacksmithing combined with graduate degrees in Psychology, Classics and Law and extensive travel to archaeological sites around the world make him a singular entity within the auction space and the property market at large.
Director
I'm Dave Goodfellow, Director of Noki Stays (formerly known as CopperHouse), and Mentor at Ikonic Training Academy. I’ve been active as a property investor for more than ten years with a background in sales operations. I have driven the front of our serviced accommodation business in multiple locations in less than two years using mixed strategies: Owned, R2SA & SA management. With monthly rapid growth right through the pandemic. Our turnover went from under £100k to £600k, Now on track to reach in excess of £1.5M in 2021. We are currently in the process of building a pipeline of ApartHotels and now we have 3 of them in the pipeline. Offers have been accepted for the 2nd & 3rd property last week, and the first one will start refurbishing in the next few weeks with a total GDV of £10m. Best of all, our business is almost fully outsourced leaving me free to concentrate on our mentees.
Director of Auctions at Strettons
An experienced and dynamic auctioneer and property professional. I put my people and my clients first and believe that going the extra mile is always repaid, many times over.
Director & Auctioneer
Having over 30 years experience within the property industry I am able to appraise and advise on all property, land and investments that may be suitable for sale at Auction. Giving best advice as to method of sale, pricing and expected sale price. Working within a multi-disciplined firm we can provide advice relating to any property related matters, including residential sales, lettings, commercial, block management, valuations, surveys, mortgages and professional services.
Here are some great episodes to start with.
