This is part 2….there are always unrealistic property buyers. That is the name of the game in a buyers market. However in Manchester it is a sellers market. More so, we are in the fortunate situation that all our HMO properties that are up for sale are cash flowing double digits.

This week has been comical. One buyer wanted to purchase one of our HMOs. Things started to progress then he informed us he only wanted to pay in Bitcoin! He was not the only one this week who wanted to buy property via Bitcoin. We nicely informed both of them, we only take BritCoin.

We had a gent from Qatar who told us he was on a buying trip. We met, drove him around and told him prices have been discounted and not negotiable. He sends an email with an full explanation on each property…what we paid ( he went to the land registry and checked each property) …what it should have cost us to refurbish and he was only willing to pay that amount.

Had to scratch our heads….we sourced great deals….we refurbished the property…we tenanted the property and he would do us a great favour by paying us what it cost us….Nah…not happening. Time Waster!

Then another gent wanted to buy one property…then changed his mind and then wanted to buy another property…Could not decide…This went on all week….

Then we had an offer on our portfolio 20% below asking price. These so called investors are in the real world of Manchester property. Prices are going up…yields going down….Properties are hard to replace with good yields.

At this point prices are shifting upwards in Manchester…We are getting out bid left and right…Too many, go to courses try to buy BMV and do not have a clue in the real world as well as think they refinance out all of their money from a property. This is a big disconnect from reality in property and dreams promised by course sellers.