Auction Bidding: Highs, Lows, and Dream Property Wins!

Bidding at auction - a great strategy for many, but it certainly does have "HIGHS" & "LOWS"!

I have been monitoring a few of the NE auctions. If you have the time and inclination, it is 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 a double bubble as I got to see this one immediately after we purchased, and I was very pleased.

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