Systematic overpricing has plagued the industry for years
This is mostly due to unscrupulous companies, backed up by short-term minded valuers and systematically blind lenders.
But we can't stop at just these three parties because the entire system was to blame; brokers, solicitors, property companies and property sourcers. Everyone wanted to get into property.
Caution and consideration was thrown to the wind. Due diligence and fundamentals were nothing more than catchy sales speak.
Now the industry has gotten better, much better, all parties have become much more realistic in their valuations so the prevalence of over valuations has certainly decreased. As a result it has been mostly pushed out of the mainstream but it's still there in far too many transactions though. Nonetheless these make sure you are fully infomed with accurate investment property research.
Have you read your property investment guides – is it really below the true market value?
Have you ever wondered why Gladfish's discounts seem lower than many other property investment companies‘ on the whole?
The reason is simple and it's one of the founding principles of Gladfish: we don't ‘screw' with valuation!
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I normally use a much harsher word that starts with ‘f' but for our younger investors it's not appropriate for print.
Actually, it's something I am extremely passionate about. For far too long property companies have overvalued properties so as to offer a much larger discount. This wasn't a true discount as it was a made up number. This is what has caused so many people's first attempts into property investment to be very painful ones.
The important thing if you are buying is that you can demonstrate sold comparables in the area on a like for like basis. If you don't know how to calculate these then please give the team a call and the guys can guide you through the process of finding realistic comparables.
The discount model is dead… Long live the discount model…
The discount model is dead. It was stolen by slippery sharks who wanted to deceive you out of your money. The whole industry was perpetuated by property gurus and their sales hype and BS.
The new model is very much ‘quality property at below fair market price', and that's hard to admit for someone who has worked in the discount model for almost 20 years. But the truth is that times have changed and discounts just aren't what they used to be. The term ‘discount' now refers to now value being inflated to high as you can get away with to be able to offer a bigger ‘discount.'
Property has unfortunately gone the course of furniture sales – 50% off but only for this week. If only we had the no interest finance attached.
It's important that you know you are getting a real below market value price without the hype and BS. Give the team a call and it can guide you through the pitfalls, bust the myths and present a clear picture of the value in working with Gladfish. Call +44 (0)207 923 6100 or on the guys' mobiles.
Live with passion,