I'm not a huge fan of auctions because in recent years I've seen novice investors get caught up in the atmosphere and overpay. As such vendors have done better out of auctions than purchasers. This one is worth more than a casual glance, not least because it's going into the Derby auction, so it may fall under the radar of those who get a nose bleed when they venture outside the M25.
- It's in the Headlands area, which is perfectly rentable - £595 when done.
- Clearly it needs everything - full refurbishment - not for the inexperienced investor.
- It's non standard build too - this is fine, it will both rent and sell, but again not for the inexperienced investor.
- Much will depend on the accuracy of the guide price. It's quoted at £50,000 and at that money there's clearly an opportunity for someone. However if it ends up nearer £75,000 the opportunity lessens - and that sort of price isn't out of the question as this will be an attractive area for some people.
Google BAGSHAWS RESIDENTIAL AUCTION DERBY for this.
