The knock-out (or slam) bid is a tactic supposedly used by expert auction bidders to knock their competitors out of the auction. Instead of raising the price by small increments of one or two thousand dollars, the knock-out bidder puts in a large bid like $10,000.
I’ve bought 16 investment properties and never made a single cent … when I bought. The only time I’ve ever made money is when time has passed.
There’s been a long-held belief that the closer a property is to the CBD, the better the growth over the long-term. But the data suggests the benefits might be insignificant. And there are plenty more problems investors need to be aware of too.