Did you know that Rightmove only has 90% coverage of estate agents in the UK? This means there are 10% of estate agents that do not pay Rightmove?s listing fees.
Did you know that we know the non-Rightmove estate agents? Well we do! It is these smaller agents where we get a lot of our stock from. 10% of the market is a big chunk. Especially when these sort of agents specialise in the cheap bottom end of the market which we love so much!
I just got a property from one of these agents. We quite cheekily bid £14k but ultimately settled on the asking price of only £18k. Needs a quick touch up (£3k max cost) and bang you have a 25% yielding property. Revalue it up and get ALL your money back and may be more!
Now if you have a commercial lender who will lend to you directly (such as RBS or Barclays) or you have a commercial broker then you can get involved with these sort of properties.
We are starting to source these real cheap deals as we think there might be demand for it. I love these deals as I am all about the yield. You need a bit of cash to buy them typically around £15k and you need to be an experienced investor.
If you have less than 10 properties or earn less than £100k per year then this will not be for you as these type of properties are problematic. You are at risk of vandalism, long voids and tenant default. So please please please if you are not prepared for this then do not go for these.
For those who like high risk and high returns then these deals are for you. Expect a 1,000% return on your money in over the next 5 years. Why? Because every rubbish area either gets sorted or knocked down. Either way you profit big time!
If you want us to start sourcing these sort of properties then request a callback. Alos we are going back to the USA as I have seen some brick built cheap properties for less than £3,000. No joke. The returns on these properties could dwarf the stuff we are finding in the UK. Cash buyers only and those with nerves of steel!
Speak soon.
Ajay
Posted on: 25th Mar 2009
del.icio.us
digg
Furl
Facebook
Reddit
Yahoo
Spurl
Smarking
Simpy
Stumbleupon
- 2008
- 2009
- January (16)
- February (7)
- March (9)
- FT reports on buy to let
- non-Rightmove estate agents and sub 25k propertie
- a nice deal came to me via text
- my month end reporting is in
- house prices to fall 55 per cent, so they say
- Some of my pages are getting viewed a lot
- new class divides are forming
- why are there so many grammatical errors
- bridge and remortgage is back
- April (4)
- May (4)
- June (3)
- July (8)
- August (7)
- September (9)
- October (8)
- November (3)
- December (4)
- 2010
- 2011
