Property Mentor with Dominic Farrell - 60% Capital Gain in 8 Months

One of my mentees, a member of the property mentor programme, The Property Auction Professional just shared some fantastic news. The property he purchased pre-auction, for £75,000 has now been revalued at £120,000 for mortgage purposes - a 60% uplift in just 8 months. Remarkably, this was achieved without any refurbishment.

See Conor's story below in the video.

https://www.youtube.com/watch?v=GS7s0w4ZYSo

Property Mentor with Dominic Farrell Video Testimonial - transcript at the bottom of the page

He’ll walk away not only with none of his own money left in the deal, but also with cash in the bank, and all while having earned a strong rental return.

There were a few anomalies with the property that initially deterred the market, but we identified and resolved them easily, they were minor issues that cost nothing to fix. You just have to know what you are doing.

He originally attended one of my workshops after making an offer of £108,000 on another property in a less desirable location, which also needed work. I advised him to walk away before the exchange, and he wisely did.

At the time, he was operating in the retail market, where genuine deals are rare. With my guidance, he shifted focus to the wholesale market. This is another outstanding result that demonstrates the power of understanding the auction and wholesale property landscape.

My mentorship programme isn’t academic, theoretical, or recycled second-hand content. It’s practical, experience-based, and delivers real-world results.

I’m genuinely pleased for Conor, a great guy, and this success is thoroughly well-deserved.

Property Mentor Dominic Farrell - 60% capital gain in 8 months with no refurbishment required - a classic distressed asset at property auction

Video transcript Conor Gallagher and Dominic Farrell - Property Mentor

Dominic Farrell - "Sixty per cent capital gain in eight months, without any refurbishment works whatsoever. You don't necessarily need to do the renovation. It's about buying a property well at auction. So here we have Conor who is going to talk through the property that he bought at pre-auction about 12 months ago. Conor."

Conor Gallagher - "Thanks Dominic. So, this was my first property that I picked up since working with Dominic. Prior to that, I was under offer, paying way more for a way worse property in this location.

And so, I attended the workshop with Dominic and I think something to kind of pull out of this, and Dominic doesn't know what I'm about to say here, is every time I drive past this property it actually reminds me of the quote, if any of you have seen the film, the Matrix where Neo gets unplugged from the Matrix, and the first thing he says is, why do my eyes hurt? To which Morpheus replies, you've never used them before.

People think with property investing, the way to be successful at doing it is buying a property, do a refurbishment and sell it on for more than your cost or refinance it for a higher value and capitalise on that higher value that you've added to the property.

But in this instance, what if you could capitalise on that higher value without doing any refurbishment? So, this was a property in an auction, and it had already had some works done to it by the previous owner.

The value added of those works had not yet been reflected in the property description, in the property listing. So, we were able to get in here, do our own inspection, do our own due diligence, and pick this property behind us up for £75,000. There are other properties on this street selling well more than that, which we'll get to, but pick this up for £75,000 pounds and no refurbishment.

We got an EPC inspection done, which resulted in the previous E listing because of the works the seller had done being re-rated to a C, of which we got a new valuation done resulting in a valuation of £120,000 with no refurbishment.

So, in this instance, we got in at the right price.

Why did we get in at the right price? It was an exercise in training your eyes is knowing what to look for and working with Dominic, reviewing so many properties together, discussing not just red flags, things to avoid, things that can cost you money, but also training your eyes. They may hurt at first but training your eyes to identify hidden green flags that the market has missed.

And that for me has been one of the biggest value adds in working with Dominic. Is getting to a position where you know what you're looking at. You can identify the hidden value in properties and off the back of that, you then have the confidence to put in the offer to pull the trigger.

Once it comes time to decide for anyone that struggles within decision. this builds your confidence such that you're able to make the decision, invest and accelerate your property journey."

Dominic Farrell - "That's fantastic, thanks Conor.

So really the key here is we want to try and avoid retail property investment. Retail is investing through sites like Rightmove or Zoopla or estate agents where you're going to pay full market value. If you want to find value, particularly in coming years, you need to look at property auctions if you wish to come along to one of our workshops, then please get in touch.

Thank you very much."