Property Auctions: A Little-Known Killer Auction Strategy
2nd July 2008
By Rob Best
One of the strategies I talked about in a previous article was making pre-auction offers. If you go in at 20% or more below the guide price, you only need a few of those to be accepted every year for you to make a tidy profit from BMV property.
Underwriting is a step or three on from the straightforward pre-auction offer, and is a potentially lucrative procedure that is little known in the property investment business.
Let me say right up front that it's not for the inexperienced or the faint-hearted and, as with any transaction that involves an element of risk, you should always seek professional advice first.
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