Blackfriars Property Investor Network (PIN)
27 September 2017 - Crowne Plaza, Blackfriars
Hosted by Fraser Macdonald
The Blackfriars PIN host - Fraser Macdonald, welcomed EIG's David Sandeman to present to the group on 'How to buy at Auction'. It was a very interactive group discussion and David went on to share how to avoid the classic mistakes which can save you a fortune when buying at auction.
One of the attendees contacted David afterwards to say:
Great meeting you David, thank you for your presentation at our meeting last night - I was thoroughly entertained!
Sean Griffith - Prime Living
'How to buy at auction, and why now is a good time to do so!'
David's presentation covered how to buy at auction, and why now is a good time to do so. As this is a great strategy to find some bargain priced property but you have to know what you are doing. Many amateurs end up paying too much at auctions or even worse buying property that is in an auction because no one else wants it.
David was there to answer questions and was able to dispell many of the myths surrounding auctions and many of the attendees took advantage of the opportunity for a free trial of the EIG service.
Learning from the expert
David's fast moving and entertaining presentation covered:
Size and scope of the market
How to source the properties
What to look out for
Due diligence required
How to spot a bargain
Buying prior to auction
Bidding in the room
Unsold and withdrawn lots
Do's and don'ts
Examples of auction deals that have gone wrong!
Examples of deals that have made a lot of money
To learn more about the benefits of joining PIN, read more here: https://www.pinmeeting.co.uk/blackfriars/
Hi, I'm Fraser Macdonald and I'm really pleased to be hosting the pin meeting in Blackfriars.
I have been investing in property since 1998. Over the years I have developed my portfolio of property and now have a portfolio of property which is mainly terraced property in the NW of England. I have also purchased off-plan, abroad and in the home counties. I have also worked with an equity partner to build a joint portfolio using their funds and my knowledge. This equity partnership in now in its 7th year and still going strong.
Since 2004 I have been in property full time. I run a property sourcing company called Property Fit. Property Fit is an armchair investment company for clients who don't have the time or knowledge to source and manage property themselves. Property Fit has sourced 400 properties for clients since 2004. In July I set up a Letting Agency in Wandsworth, London called Active Letting London. I got tired of high London fees and poor service and have developed a service that is great value and offers great customer service.
I wish there were property network meetings when I started in 1998. I know I would have found them extremely useful. Before I purchased my first investment property I worried a lot about what might happen. As I have become more experienced I am more relaxed about the risks and how to carefully manage properties. Property meetings now offer new and experienced investors the opportunity to meet with like minded people and also individuals/companies that can help you with your investment targets.
The pin approach and process is excellent. It is straight forward and focused on delivering investment goals of equity and cash-flow. I have known Simon for a number of years and his forward thinking approach has remained consistent and relevant, whatever the market is doing. There is always an opportunity and Simon knows how to exploit them. The pin schedule is good and has relevant speakers for each meeting, they are carefully vetted and add value.
I hope to see you at the Blackfriars pin meeting (4th Tuesday of every month except August and December).
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By Beth Fox