Buying Cheap Properties in the UK

You may think that the current slowdown in the property market in the UK means that this is not the time to be buying property, but in my opinion this is a great opportunity to snap up some bargains. Property prices have been steadily increasing upwards in the UK now for a number of years but this obviously couldn't continue forever, and we are now starting to see prices drop back to more realistic levels.

For the long-term investor, which is what you should be if you're serious about making money from property, this presents an excellent opportunity because if you look around you will see that prices for a lot of properties on the market are now the same as they were about 3 or 4 years ago. So if you take a long-term view, and you have some cash to invest, you can pick up some excellent bargains in the current market. Yes prices may well drop further in the next couple of years, but in the long-term prices will always trend upwards, and you can earn some income from your properties in the meantime by renting them out.

Best of all because this this is very much a buyers market you can negotiate even better prices with sellers, and they are more likely to be accepted. For example I know a property investor whose primary strategy is to put in offers well below the current market valuation. Of course 95% or more of his offers get rejected, but occasionally one of his offers gets accepted and he manages to snap up a real bargain, and after a few years of rental income, he will sell on for a very healthy profit.

So putting in crazy offers is one way to get cheap properties. Another is to frequent a lot of auctions because this is another great way to pick up some bargains. It hasn't been in recent years as it's been very much a sellers market and demand for properties has boomed, but in the current climate you can grab yourself some excellent bargains at auctions as there are a lot less buyers to compete with.

Although prices are dropping slightly at the moment, this is still a good time to buy property because you can negotiate knock-down prices with sellers, and pick up some bargains at well below the market valuation, which in the long-term should equate to very good profits when the market eventually picks up again.

Click here to learn the very best tips and strategies for buying property in the UK and making money from property.