Newbie investor keen for auction adviceMake Text Bigger
My husband and I are new to property investing. We are currently living in a 3 bed semi which we would like to rent out next year. But first we would like to invest in some property in auction, ideally for around £120k (cash buy plus £30k for other legal and repairs), then sell it on for some profit.
The only way we can do this is to release equity from our current house. We haven’t found any property in auction yet but we are keen on a freehold property rather than leasehold.
1. Any suggestions of what we should look out for?
2. Any pitfalls we should avoid?
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