General (main property discussion here) - Paying Finders Fees

Hi all, I am looking for additional BTL opportunities. I currently have 2 close to where I live in nottingham. Scanning the various web sites I have come across several which are touting properties in the North of England as ones with good rental prospects and good rental yields and good prospects for capital growth. All are asking for a Finders Fees to reserve the property (1-3,000 pounds). One of these sites is run by Ajay Ahuja. Are these fees worth paying so would your advice be to do the due diligence yourself and going it alone?

Hi Raj,

My name is Leanne. I run a Letting and Managemnt Business in Newcastle upon Tyne. As you know the properties up North still are cheap as to down South.

Please do be carefull with Investment Compnaies. What you are better off doing is using and agent to source you a property. Usually fees vay from £400 - £800, but this should only be billed if you go ahead with the purchase. Companies that ask for this money up front sneds off a bad signal.

If evr you nedd any advice, please feel free to cll or email. My contact details are as follows:

leanne@libra-properties.co.uk 0191 4786011

Raj

This could be a very long thread as there are so many different types of deals out there or being offered by property companies.

If you feel you can get the same deal yourself and have the time and more importantly the knowledge/knowhow to carry out the correct due diligence then by all means carry out it out by yourself.

If a finders fee is for a geniune discount that you cannot get elsewhere and everything else with the deal stacks up then a lot of investors are willing to pay the fee. After all you would not obtain a discount otherwise.

The cost of travelling and your time should be factored in when deciding which route to choose. To tar all investment companies with the same brush is too general. As in any industry there is good, indifferent and poor and it is important to seek out the good ones!

Rupert Dearden

Hi,

Gerry/Ross at Penny Lane have been very successful lately in finding investment properties. Always good to add another contact to the list.

rossb@plfs.co.uk

Cheers John

......My own thoughts on finders fees.....would you tip a waitress before you've had a meal?

For those looking within London and the M25 check out

www.buyyourcommand.com