Thursday, 19 May 2011

A few years ago I looked at investing in property. The first thing I had to do was acquire one. Easier said than done at the right price. So I researched what is known as the BMV market, Below Market Value. This means sourcing and then purchasing property at a much reduced rate - you're looking at 20% or more below the price that the property could reasonably be expected to fetch if sold the traditional way through an estate agent. There are many ways of finding such properties and many companies that purport to help in such a search. Personally I wanted to do it myself but I needed to learn what to do.

In addition to many companies offering to help find a BMV property itself, there are many companies that offer to teach people the methods to find such properties themselves. A lot of them would provide this training in return for what could only be described as pretty hefty fees. Don't worry, they'd say, the fee is a mere investment that will be repaid many times over by the very first BMV property you source. They were all very convincing, I must say. But then when I joined property forums and got talking to experienced property investors, I soon heard tales of people being ripped off by these companies, that a lot of what they taught was freely available from others in the forum and that there were one or two folks out there who did charge a relatively small fee for guidance but who could be recommended and provided value. Importantly, they had a proven track record in the market.

I had come perilously close to really being ripped off, potentially out of thousands of pounds; and had I been, it would simply have been a result of my naivety and a lack of knowledge of the market. I was saved just in time by making contact with folks who were experts in the field and learning from them.

Mmmm...a lot of similarities with the tipping service market, me thinks. It bemuses me when I read questions posted on forums about this new service or that, and do people have any experience of them because the results on the website look great! Why not wait? Why not see how things pan out? Let others put their hard earned at risk discovering whether or not these folks really know what they're doing. I'm not saying we have to wait for an official independent review recommending a service, but in this day and age, how many reputable services don't proof anywhere? There are proofing sites, forums, the SBC, and our own knowledge of what to look for in a new service. There is no need to rush in. It's hard enough to get right even now (Shaolin!), but at least let's get the odds in our favour.

Today's Action

Another poor day today and after a good first part of the month, things are just wobbling a little.

Starting with the good news. The one PJA NH selection today came in first (Royal Max - Wetherby - 9/2-4/1). Generous Stanley James allowed me a whole £3.50 each way at 9/2, so had to take 4/1 elsewhere.

A very poor day for Northern Monkey with all of their three tips finishing out of the frame.

Thought Chasemaster was on to a good thing when we got on their one selection at 20/1 this morning, to see it go off at an SP of 7s. No joy, though.

On The Nose only had one today too, and similarly was on a long priced horse that finished unplaced.

Not a good day for ProBandit either. Managed to get one each way bet to place but the other two tips gave no return.

Winning Racing Tips turned a small profit when their one bet finished 2nd (Sunday Bess - Haydock - 13/2). I thought for a moment it was going to beat the long odds on shot and win the race but ours ran here, there, and everywhere when under pressure in the final furlong. Wasn't to be.

PJA NH: Staked 0.75pts, +2.305pts.
Northern Monkey: Staked 4pts, -4pts.
Chasemaster: Staked 0.25pts, -0.25pts.
On The Nose: Staked 1pt, -1pt.
ProBandit: Staked 2pts, -1.05pts.
Winning Racing Tips: Staked 1pt, +0.191pts.
Total financial loss on the racing of £104.40.

Thursday 19th May: Staked £275, -£104.40.
Week to date: Staked £886, -£251.65.
Month to date: Staked £6,443, +£687.09, roi 10.66%.

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