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Tuesday, April 13, 2010

Dangers of BMV leads

Landlords that frequent certain websites may be tempted by the attraction of Below Market Value (BMV) leads.

These leads are produced by individuals who claim to have found a potential buy-to-let property where there is a motivated seller who is prepared to sell at below the current market value.

I came across this recent post from a potential residential investor who had purchased 3 leads, probably at several hundred of pounds a pop.

Unfortunately he was not having much luck in luring in his prey.

BMV seekers getting stiffed

Is there a certain irony in somebody who was looking at exploiting one persons misery for their own greed ends up getting stiffed in the process.

Professional property investors know that their gain is often somebody else's pain. A death, a bankruptcy, an impending divorce. That's business.

However, we do not get somebody else to do the dirty work for us and do not cynically look to identify an individual because they are a motivated seller.

What we are after is an undervalued property and a good property investment.

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