UK Landlord Forum / Life

Hi everyone,

I'm a young landlord 25yrs old with only one investment property.

I am now in a position (30k savings + 4-5k equity) where I can start looking at purchasing my second (and maybe my third).

My first property was a new build - Straightforward purchase and apart from a few snagging issues with the builders, it has all gone smoothly. However, apart from the freebies from the building company for the interior of the property (washing machine, dishwasher, etc), I paid pretty much market value for the house.

I am now looking at buying at auction and to be honest, it confuses / scares the bejesus out of me!

Does anyone have any tips to make the process less painful? Particularly interested about when people get a survey done.

Thanks in advance.

ps, Stumbled across this blog / website and have to say, it's great and very informative - So, thanks!

Hi property https://www.google.co.uk/

Property auctions are good places to get a bargain but make sure you do your homework or you could get a dud. Websites like EIGroup.co.uk are excellent for auctions but the subscription fee is quite a lot. Always get a survey prior to buying and make sure you read the legal pack. Determine your price and dont go over it at the auction. Be prepared to walk away there will be other deals.