Buying 34 Properties in just 36 months with Tony Fairs
27 Sept 2024
Meet Tony Fairs
This week, we are joined by Tony Fairs, an entrepreneur from Fenham in Newcastle with a remarkable track record in property investment. Tony has managed local estate agency offices, and a major auction house, and founded his estate agency. In late 2018, he started his property investment journey, acquiring 34 properties valued at just under £2 million in just 36 months.
Tony Fairs began his property career at Northumbria University, eventually managing local estate agencies and a major auction house. Eleven years ago, he founded Fairs Estate, which offers full estate agent services in Newcastle. In 2020, Tony launched Fairs Investments, a property sourcing and education company that has helped clients purchase nearly £6 million worth of property. His company has also developed property, with recent projects valued at over £1 million.
Tony's experience spans various aspects of property investment, from sourcing and acquiring deals to creative strategies like lease options and social housing projects.
Key topics
1. Finding deals with Property Filter
Using Property Filter has streamlined Tony’s sourcing process, allowing his team to find six to ten properties per month. Combining the platform's tools with direct vendor marketing, such as letter campaigns, has enabled Tony to secure purchase lease options and widen his investment area.
“Property Filter is the most comprehensive software we’ve used. It’s become part of our daily tools, making the process of finding deals much easier.”
2. Building relationships with agents
Tony emphasises the importance of building strong relationships with agents to secure deals. He suggests engaging with agents, asking the right questions, and finding ways to stand out among other potential buyers.
“When you’re dealing with an agent, you need to stand out. By building rapport, you might get the difference that sways an offer in your favour.”
3. Creative property investment strategies
Tony shares insights into creative strategies, such as purchasing lease options and dealing with unsold auction lots. He highlights the value of using these strategies to acquire properties that may not sell through traditional means.
“Finding the right properties, using the right solutions, and creating a win-win situation for both sides is where the real value lies.”
Secrets of estate agents and auctioneers
Tony reveals various secrets of estate agents and auctioneers that can make a significant difference in property investment:
Understand the dynamics of property portals: Listings on platforms like 'OnTheMarket' often have a 24-hour exclusivity period before appearing on 'Rightmove'.
Use tools and build relationships: Combining the Property Filter platform with a personal connection to agents can provide access to properties before they hit the broader market.
Leverage timing: Be aware of the optimal times to approach agents, particularly after auctions when properties remain unsold. This is often when vendors are most open to negotiation.
Actionable tips for property investors
Ask the right questions
When dealing with agents, ask if the vendor has found a new place to move. This can reveal motivation levels and property conditions indirectly.
Target problem listings
Focus on properties that agents find difficult to sell, such as those with bad tenants or structural issues. These often provide opportunities for creative deals.
Utilise auction opportunities
Explore unsold auction lots immediately after the auction. Vendors are often more motivated to accept lower offers at this stage.
Advanced tactics: Combining creativity and strategy
Tony also discusses advanced tactics like using lease options creatively, particularly for properties with short leases or motivated sellers who need fast transactions. By identifying opportunities where traditional buyers might see only obstacles, Tony's approach allows investors to unlock hidden potential in seemingly challenging deals. For example, he recounts how he transformed underperforming properties with difficult tenants into high-yielding investments by negotiating creative agreements and building rapport with both agents and owners.
Conclusion
Tony Fairs' journey illustrates that success in property investment requires a mix of creativity, persistence, and relationship-building. By using tools like Property Filter, leveraging personal connections, and employing creative strategies, investors can navigate the market effectively and find hidden opportunities.
Don’t miss out on Tony’s full journey and learn how to apply his strategies to your own property investment success. Watch the full interview now on our YouTube channel and unlock new opportunities with Property Filter.
Additional Resources
Deal Finder's Corner is your weekly property talk show, proudly brought to you by Property Filter. Our mission is to equip you with the best resources by inviting expert guests to share the most up-to-date and effective strategies, tactics, and insights for finding and securing property deals across the UK.
