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Cheap UK Property - How To Buy It And What To Avoid!

Apr 9, 2008
Being able to buy cheap UK property is the goal - and perhaps the dream - of most UK property investors and developers. In fact, it is the dream of anyone who chooses to invest in UK property whether they are UK based themselves or they live abroad and are just looking at buying property in the UK.

In this article you will learn about cheap UK property - how to buy it and what to avoid. While it would take many pages of writing to give you the definitive guide on this topic, this article will give you a helpful insight that will hopefully make buying cheap UK property not just a dream but a reality.

When thinking about buying property cheaply in the UK the first place most property investors turn to is property auctions. However, is buying property at auction still as lucrative as it used to be? The answer to that is both yes and no. While there are still bargains to bought at auction, the simple truth is that these days many properties sell for a higher price at auction than they would do on the open market.

So what is the next place many property investors turn to when they are struggling to buy property cheaply and below market value at auction?

Well, the next point of call for many investors is off plan properties. But again they are hit with the cold reality that these are not the bargain properties that they once used to be. Yes, just like buying a property at auction, there are still some excellent bargains to be bought, but gone are the days when anyone could buy almost any off plan property anywhere in the country, sit back until completion and then rake in the profit.

The cold hard fact is that today the novice investor is probably more likely to lose money, in the short term, than make it when they buy property off plan.

Keeping in mind that we are talking about property, one loss to a first time property investor could mean thousands of pounds and even bankruptcy - hence, the importance of reducing any risk as much as possible.

The bottom line is that if you want to be able to buy cheap UK property, the best strategy is to have as many ways to do it, and as many ways of finding them, at your disposal as possible.

Unless you have mastered a particular way of doing it (i.e. you are a grand master at buying property at auction) then just relying on one way of finding below market value property in the UK is a sure receipt for disaster.

In the property market of today, investors are looking for property that they can buy without putting any of their own money into it. This is called "no money down" (NMD).

To attain the goal of buying as much property as possible with none of their own money tied up in it, investors have to look at sourcing properties in a variety of different ways. I have listed a few below:

Buying distressed property (property in need of work)

Leafleting their target area

Putting adverts in newspapers to attract distressed sellers

Buying properties that are empty and have perhaps been that way for a while

Networking with other property investors and professionals

Creating their own below market value website to attract distressed sellers

If property investors can learn to master a least some of the skills and tools listed above, then they still stand a chance of being able to buy cheap UK property, even when others around them have to pay full market value and above.
About the Author
For more information and tips and advice on buying cheap UK property whether it be at Auction, off plan or anywhere else, visit: http://www.investment-property-guru.com where you can get all the latest property advice plus pick up your free book titled "the five rules of property success" that teaches some essential rules to be a success at making money from property in any property market.
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