Possible plan B

[DimPrawn]

So the idea is that I buy a house at auction for cash for, say, 70% of the value of the property, and sell it to these guys for 80-85% in a matter of days.
And then repeat. And repeat. etc.

Or have I got the wrong end of the stick?

Or in other words: Why not just buy at auction for 70% and sell privately at 100% and make fast profits that way.

No, I don't think so.

[TheFaQQer]

So the idea is that I buy a house at auction for cash for, say, 70% of the value of the property, and sell it to these guys for 80-85% in a matter of days.
And then repeat. And repeat. etc.

Or have I got the wrong end of the stick?

Or in other words: Why not just buy at auction for 70% and sell privately at 100% and make fast profits that way.

At auction there's always the chance that people will outbid you. This way, you go along to the people, cash in hand, offer a quick sale, and persuade them that you're doing the best thing for them to get that quick sale.

There's an estate agency near me who does exactly the same thing as their only line of business.

[Diver]

So the idea is that I buy a house at auction for cash for, say, 70% of the value of the property, and sell it to these guys for 80-85% in a matter of days.
And then repeat. And repeat. etc.

Or have I got the wrong end of the stick?

Or in other words: Why not just buy at auction for 70% and sell privately at 100% and make fast profits that way.

Coz King Cnvt can't go to auctions, he's in prison remember!
Somebody told him it was a tax haven and he booked himself in

[KentPhilip]

Have you seen all these companies springing up that will buy your house in 7 days?

Type "sell house fast" into Google.

The deal seems to be you call them, they value your house and you sell to them. They pay cash into your bank in 7 days.

This business is aimed at those in the tulip , getting divorced , leaving the country quick , emigrating etc.

They all seem to offer about 80-85% of the true value of the property.

For those with a large stash of cash, setting up one of these businesses should be pretty simple. And every time you buy and sell, you'll be making tens of £K profit.

Can't be a bad business to get into.

So the idea is that I buy a house at auction for cash for, say, 70% of the value of the property, and sell it to these guys for 80-85% in a matter of days.
And then repeat. And repeat. etc.

Or have I got the wrong end of the stick?

Or in other words: Why not just buy at auction for 70% and sell privately at 100% and make fast profits that way.

[AtW]

He posts from prison. Yes I know he is not supposed to have Internet access there, but Cherie Blair argued that it is inhumane not to provide it.

[Diver]

Anybody know King Cnvt's post code?

I've got the buyer on the phone and the mortgage people need it asap!

[sasguru]

...when the time is right.

Too right. Can't wait for the crash ...

[DimPrawn]

Never take property investment advice from bitter renters.

Interesting forum here for this sort of thing
http://www.singingpig.co.uk/forums/41/ShowForum.aspx

Various moral issues and pitfalls, but seems to be a growing band of people starting up. Not for me at the moment, but worth researching for when the time is right.

http://www.fastprofitsfrombmv.com/pd...BMVReport1.pdf

A growing and very lucrative business. You heard it here first.

[GreenerGrass]

Okay oh great one....

Never take property investment advice from bitter renters.

Interesting forum here for this sort of thing
http://www.singingpig.co.uk/forums/41/ShowForum.aspx

Various moral issues and pitfalls, but seems to be a growing band of people starting up. Not for me at the moment, but worth researching for when the time is right.

[King Cnvt]

Okay oh great one....

[AtW]

No. Next...

[King Cnvt]

Have you seen all these companies springing up that will buy your house in 7 days?

Type "sell house fast" into Google.

The deal seems to be you call them, they value your house and you sell to them. They pay cash into your bank in 7 days.

This business is aimed at those in the tulip , getting divorced , leaving the country quick , emigrating etc.

They all seem to offer about 80-85% of the true value of the property.

For those with a large stash of cash, setting up one of these businesses should be pretty simple. And every time you buy and sell, you'll be making tens of £K profit.

Can't be a bad business to get into.