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Hi,
I have a small portfolio of 7 properties in the north of England. As prices continue to rise It's getting harder and harder to source decent properties with either a good yield or due for renovation. I'm finding the searching process very time consuming and, at the moment atleast, unfruitful. To help with this situation I've been looking at several property sourcing services, specifically these three:
Essential Information Group - http://www.eigroup.co.uk/
Choices -http://www.findaproperty.com/choices/
and this site:
http://www.property-auctions.net/Auction/homepage.htm
I was wondering if anyone has had good or bad experiences with these firms or others. For that matter what do people think generally about this type of service? Any info much appreciated.
Thanks
Steve
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Steve,
If you have the time,you MUST go and see these houses for yourself.I don't know about the companies you have mentioned,I am sure that they are fine (Will - Is that o.k. for the lawyers?)
But I have heard of these sort of companies "selling houses that do not exist" or selling houses that the owners are not selling,selling places that are due for demolition,etc.etc.I have seen these companies selling "bargains" that are 10 grand over the average price for that street.
You mention your existing portfolio,how did you source those properties?Could you not use the agents that you have used before?
Contact the auctioneers in the areas that you are interested in,they will be able to help.You may even find a bargain on thier websites.I watch some of the auctioneers sites and things are not selling up there.So it may be the time for a cheeky offer.
Perhaps someone from that area will be along on here soon and be able to help you.
Sorry got to go now,I'm starting to ramble. |
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Thanks for the info Simon, I'd definately view any houses found. I located my other properties using estate agents and the local paper. Trouble is now everything advertised is too expesive to be a good investment. I was hoping a sourcing service might help me tap into properties sold via aution more readily that searching individual auctioneer web site. |
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steve,
have you had any luck sourcing through this site? not sure where you are looking but there definitely are some opportunities worth looking into on this site.
tom |
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Tom, which site did you mean? If you were talking about the Choices site I'd agree but I did call about 1 property and the lady told me most of the stuff on their site is already sold or under offer, that would make sense I guess if you want to wet people's appetite and still be able to charge them for the finding service. I'm tempted to give them a go. But first I might try http://www.property-auctions.net/Auction/homepage.htm they're very cheap in comparison £20 for a month or 50 for 2 years. If anything I'm doubtful becuase the seem so cheap. Choices charge 250 for a lifetime subscription plus a fiver each month while your actively looking. The other site, http://www.eigroup.co.uk/ cost just under 400 but seem to offer a more persononalised service. I think unless anyone else has had experience it'll be a case of suck it and see.
Steve |
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Steve what is the full address of the Choices website? |
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I have had experience with choices. I gave them my criteria, price area etc and they just sent me load nonsense letters about properties in areas that weren't what I wanted. The rare occasions they did get it right the information was so limited that it was pointless anyway! Cancelled my subscription quite quickly! In my opinion they are not worth the hassle |
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Thanks Becci, that's good to know. Did you try anyone else or was that enough to put you off all together? |
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Hi Steve, that was enough to put me off! The money I wasted could have gone to better use! Now I just try and find decent web sites (such as this one) to find property. Pointless wasting your money to get people to find property you may or may not like. Only you know what you looking for! |
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Hello Steve,
You might like to try Alan Forsyth on info@property-investments-deals.com
Although I haven't used him as yet he was recommended to me by a friend who also happens to be an owner of an estate agency. He used to be an agent in Bristol but decided he would be better off building up his own portfolio. He has found several what appears to be good deals in Scotland. He has also gone into Europe.
The estate agent friend started me off on my first house
10 years ago and held my hand while I built up my portfolio.
The usual caution& prudence applies of course but if you do find Alan helpful I would appreciate it if you let me via the forum.
Good luck,
Larry
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steve,
i do not know alan so this may not apply to him but be careful on fees many agents charge a lot for these kinds of services.
tom |
