Bidding at auction; a great strategy for many, but it certainly does have “HIGHS” & “LOWS”!
Recently I have been monitoring a few of the NE auctions 
. If you have the time and inclination a great way to build your knowledge of an area and get a feel for what you might need money wise to get into a specific type of deal. 
That said, two properties I had my eye on went WELL above the guide price!!! 
Not just a bit, I mean WELL OVER to the point that I was questioning my calculations and DD. 
Reassuringly I saw another investor post on the exact same property with similar shock.
Complete refurbishments on both. 
Food for thought…and this is not an isolated incident, many people are seeing the exact same thing. 
If you have researched the 18-year property cycle and looked closely into the “winners curse” the quality of what you buy, for how much and when becomes even more important. 
When we had the chance to bid on a property in an area that I had been researching for a while, it was with some trepidation. I seriously liked this property, great area, well looked after, parking, garage, and somewhere I believe there will be massive growth and potential in the future. 
Happily we won! 
As I was in the North it was double bubble as I got to see this one immediately after we purchased, and I was very pleased. 
A great property; we are looking forward to working with our PM and trusted suppliers to get this turned around and earning money. 
Watch out for our updates. 
