We found a deal for a client where the following happened:
1. The client reserved this deal and put a total of £6k in.
2. He completed in October 2008.
3. The mortgage we found him reduced down to £88 in March 2009
4. The property is let in April 2009 for £475
5. The client now makes £380 profit per month from his £6,000 investment.
As you can imagine this client was very happy and informed us of this and asked us if we can find him some more like this! Here is what he said:
Hi Jo
Just a quick email to say thanks, I bought the above property through yourselves using just £6k of my own money. The mortgage cost has just dropped to £88 and it has just been let for a rent of £475! thats around £380 per month gross profit. I reckon that must be a return on capital of around 75% (gross)
Please let me know if you have any more like this.
Kind regards
To view this deal view the property report. .
A pretty much bog standard investment. Nothing exciting. Not in a great area. Not in a bad area either. One could say a truly unremarkable property. Until you look at the results!
That is the funny thing about the properties we find. They do not look pretty. They do not sell themselves (unless you are clued up!) and they are in areas where there is no new shopping centre or train station being built.
But that is exactly the point. They are plain old simple bread and butter properties where Joe Bloggs will live. It is houses and flats where me and you may have lived at some point in your life.
So I ask you:
Do you want 100 properties delivering you £200 profit per month each with Joe Bloggs as your tenant (total monthly profit £20,000)
or
do you want 10 riverside apartments in a city centre delivering you £50 profit per month each with Tara Palma Tompkinson as your tenant (total monthly profit £500)?
Ajay
Posted on: 2nd Apr 2009
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