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Sam’s Auction Tips: Issue 6: 3 June 2010

June 3, 2010

WELCOME to issue 6 of my TRIO of real auction tips from around the country!

Results from Tip sheet 5:

NB. This auction saw record prices being paid for property – this would have been great to sell at, not to buy at!

Tip 1: South London – Recommended buying price: £240-270k. Sold for £385k

Tip 2: Hampshire – Recommended buying price: £110-140k. Sold for £162.5k

Tip 3: Cambridgeshire – Recommended buying price: £85-100k. Sold for £105k

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Hope you enjoy!


Tip 1: Berkshire

Description: A 3 bed mid terrace property
Guide: £90k +
Area Notes: Located in a residential area surrounded by similar properties, this house is located less than one mile from the town centre, train station and university. It is within walking distance of the local school. The area offers a wide range of facilities and amenities and is an easy commute to London and surrounding areas. The town has a large number of employers and thus the property should be in demand due to the proximity to work opportunities. The property also has excellent transport links including easy access to the motorway.
Land Registry: Recent property sales: 30/3/06 @ £225k, 1/5/05 @ £125k and 6/3/00 @ £30k
Sales data suggests retail price: £165-180k
Rental figures suggest: £900-1100 pcm
Research indicates: The property offers a great opportunity for potentially refurbing and selling on or keeping given the high rental and potential future capital growth. The area is expanding due to its proximity to London and excellent transport links. This is a cheap buy in an area which is usually above the national house price average. A 3 bedroom property offers the flexibility to sell on as a family home, or potentially let on a shared house basis which may also boost the rental returns. The size of the property, location and the price makes this a potentially great purchase if bought at the right price.
Recommended buying price: £125-135k
Potential yield: Approx 8% – 10.6%

Tip 2: Dorset

Description: 1 bed ground floor flat with private garden
Guide: £94k+
Area Notes: Located a short distance from the town centre, train station, and university, this property should appeal to the first time buyer/ tenant. The apartment is located in an “improving” area which is attracting more businesses, facilities and people to the area. The property is situated approximately one mile from the sea and award winning beaches and offers a good balance of sea side living with all the conveniences and facilities of a large town on the doorstep.
Land Registry: Recent property sales: 2/5/08 @ £143.5k, 4/12/07 @ £133k and 5/9/07 @ £235,950k
Sales data suggests retail price: £105-115k
Rental figures suggest: £500- 600pcm
Research indicates: This property is a recent repossession which appears to have undergone works in recent years. The property is presented in good order, though may benefit from some cosmetic improvements. This property is well located in a popular and convenient area and would suit a long term investor who is looking to buy into the area for the “big picture” improvements. The area has been subject to a number of council initiatives to encourage further investment into the area and attract tourists and locals. Bought at a competitive price this property could offer a good opportunity to keep as part of a wider property investment strategy.
Recommended buying price: £85-95k
Potential yield: Approx 6.3% – 8.5%

Tip 3: Hampshire

Description: 1 bed lower ground floor flat
Guide: £38k-£40k
Area Notes: This property is located next to a large open park and within minutes walking distance to the train station, local centre and facilities and amenities. Situated on the outskirts of the city this property offers an affordable step on the ladder for first time buyers looking to purchase their own property. The proximity of the flat to a wealth of amenities makes this a convenient choice and should ensure the property remains in demand. There are excellent public transport links close by and the motorway network is on the doorstep.
Land Registry: Recent property sales: 18/1/08 @ £98k, 21/2/07 £150k and 13/2/07 @ £150k
Sales data suggests retail price: £80-90k
Rental figures suggest: £450-550
Research indicates: This property benefits from being situated within a large harbour city which also boats a university. This means that there is a strong influx of new young people coming into the area keeping it vibrant and attracting new businesses to the area. The beach is approx 5 miles away so this property can offer a city/sea way of life.  The convenience of this property – being on the doorstep of excellent transport and leisure facilities should prove popular with both tenants and buyers. This property is in need of improvements, but bought at the right price this could offer the potential to sell-on and make some profit, or could offer a double digit yield!
Recommended buying price: £45-55k
Potential yield: Approx 9.8% – 14.7%

Sounds interesting? What do you fancy doing next?

Package 1 – The Straight Analysis

  • Give you the details of the property and auction house and you do the rest
  • £9.99

Package 2 – The Full Shebang

  • I will personally do a viewing, take loads of photos, conduct a live rental market assessment [on top sites – Rightmove, Zoopla, Yahoo et al]
  • Arrange a solicitor to check the legal pack
  • Arrange a surveyor to inspect the property and produce a report
  • Attend the auction/ accompany you to auction/liaise by telephone and bid
  • Organise a financial advisor to contact you and arrange finances
  • £299 + professional fees of surveyor, solicitor, advisor

Package 3 – Personalised Auction Updates

  • The property scout service means you can subscribe to receive weekly upcoming auction details for your areas of choice [up to 3] – for just £10 per month!

Contact me:

Please note: Upon successful purchase a finder’s fee commission of 0.5% of purchase price will be added to your bill. This guide is prepared in good faith; I am under no legal obligation to you in respect of the information contained in this document. The properties have not been inspected or surveyed.

First time you’ve seen Sam’s Auction Tips? – Let me introduce myself and the idea!

Why did I do this? My financial advisor convinced me to share my knowledge with other people as it’s not so easy to get as much funding as it once was – which means I find loads more interesting properties than I can buy!  The theory is I get to share my knowledge and tips – you want to know more – and then maybe, just maybe, we get to do something together?

Why should you listen to me? I own a development company, am a substantial nationwide property investor and own a lettings, management and maintenance company – Gorgeous Homes, and an online property portal for private landlords –

I can’t tell you I know it all, no-one can, but I can offer a few tips for anybody interested enough to have a look.  These are the properties which if I had enough money I would be looking to buy.  The essentials of my research are here for you to feast on. It’s only a guide, it’s not advice – it’s a lead and if you want to take it further, that’s up to you

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