Singing Pig

Hi All,

Was just checking out this site, and wondering if any of you are members? Would just like to know the costs to join and if it's one of the better auction sites to use? Any information would be greatly appreciated.

Many thanks

Yes did for a while – it was about 150 for a quarter as I recall. It is useful but I think you have to be a real auction buyer to take advantage of it fully. I’m not keen on auction purchasing and used it to make some prior offers and keep tabs on unsolds. Didn't bother renewing tho.

Lisa

Many thanks for your reply Lisa,

Seeing so many properties come to auction in my area, most of them happen to be new builds that were bought back in 05 & 06, and are now selling for nearly half the price.

At even these prices the yields are low?  Can't help but think these people will struggle in the coming years!

Cheers

If only these people had been on Singing Pig!! Take a read of this post me and my mate Fiona wrote back in 2002!!!

http://www.singingpig.co.uk/forums/thread/18401.aspx

Lisa

Hi Lisa,

Very interesting post, you obviously have a vast understanding & experience of the New build market! I only wish this website was known to me back then.... I'm 90% sure our portfolio would have been extensively bigger and of a much higher quality!

I remember back in 2002  we had 3 buy to lets and stuck to a very tight formula,  making sure the yields were high and the price were low!  Now we are moving into tougher times it has become clear that we may have become a little blinded by greed to buy more!

My feeling is if you have Cash reserves & a good credit history the coming years could be very exciting.

 
P.S

We learned the hard way (Inside Track) ....  thank god we were never sucked into buying!
 

I wish!! Had I have had I’d have made a killing a la Inside Track!!!

To Fiona and I it was a high risk strategy and for a lot of people very early on it paid off but its the old adage about the shoe shine boy giving stock picks – the money had been made by the time most people got to hear about it!

Or of course like Inside Track you sell the shovels but not the gold!!!

Despite what many may think I am actually quite risk averse and do a heck of a lot of research. I may miss the once in a lifetime deal that I don’t move on quick enough but slow and steady always wins the (less risky) race.

I have met my fair share of property investors who have been going for 20/30/40 years or more and the one thing that’s quite apparent to me about the fact they are still around despite booms and busts is that they took it slow and steady, stuck to what they know and on the whole stay in their own back yard.

I heard a fantastic (true) story the other day about a multi-millionaire property investor/developer. He has been going for over 40 years and has been through all sorts of markets and is still buying and developing right now – his mantra - he has never bought anything further than he can walk from his own front door! Yes 40 years and millions of profits all no further than he can walk from his own home – who needs to travel to find gold!! Acres of diamonds!!

Lisa

I wish!! Had I have had I’d have made a killing a la Inside Track!!!

To Fiona and I it was a high risk strategy and for a lot of people very early on it paid off but its the old adage about the shoe shine boy giving stock picks – the money had been made by the time most people got to hear about it!

Or of course like Inside Track you sell the shovels but not the gold!!!

Despite what many may think I am actually quite risk averse and do a heck of a lot of research. I may miss the once in a lifetime deal that I don’t move on quick enough but slow and steady always wins the (less risky) race.

I have met my fair share of property investors who have been going for 20/30/40 years or more and the one thing that’s quite apparent to me about the fact they are still around despite booms and busts is that they took it slow and steady, stuck to what they know and on the whole stay in their own back yard.

I heard a fantastic (true) story the other day about a multi-millionaire property investor/developer. He has been going for over 40 years and has been through all sorts of markets and is still buying and developing right now – his mantra - he has never bought anything further than he can walk from his own front door! Yes 40 years and millions of profits all no further than he can walk from his own home – who needs to travel to find gold!! Acres of diamonds!!

Lisa

Great story Lisa,

"Gently, gently catch the monkey", as my old granddad would say!  

Sounds like you will be one of the few buy to letters that aren't to concerned about the current market!

There have been times over the past few months that I have wondered whether we should have sold up, and sat on the sidelines and cherry picked the excellent deals over the coming years!