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Sam’s Property Auction Tips: Issue 7: June 17 2010

June 17, 2010

WELCOME to issue 7 of my TRIO of real auction tips from around the country!

Results from Tip sheet 6:

Great auction bargains were to be had in the last issue – and money to be made!

Tip 1: Berkshire – Recommended buying price: £125-135k. Sold for £130k

Tip 2: Dorset – Recommended buying price: £85-95k. Sold after auction £83k

Tip 3: Hampshire – Recommended buying price: £45-55k. Sold for £55k

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Hope you enjoy!


Tip 1: Birmingham

Description: A 3 bed mid terrace property
Guide: £70k-£75k
Area Notes: This property is situated in a residential area located approx 7 miles south of the city. The property is well located for easy access to the city centre and surrounding areas. There are a wide range of public transport connections with several train stations located nearby. The motorway network is within easy commuting distance.  The property is close to local schools and amenities.
Land Registry: Very few recent property sales: 11/7/05 @ £97.5k
Sales data suggests retail price: £95-105k
Rental figures suggest: £475-550 pcm
Research indicates: The property is presented in good order though may benefit from some cosmetic improvements. It is a good sized family home offering gardens and a garage.  This property is approx 30 years old and thus has the benefit of more modern build methods and should be low maintenance as a buy-to-let investment property.  The area is growing and offers a wide range of employment and leisure opportunities to people moving into the area.  As a 3 bedroom property this should let well as a family home given its proximity to local facilities, but may also work as a shared rental property to boost rental returns.  Given property prices in the area are lower than the national average, this may have the potential to be a long term rental investment.
Recommended buying price: £68-78k
Potential yield: Approx 7.3% – 9.7%

Tip 2: Hampshire

Description: 1 bed ground floor flat
Guide: £75k+
Area Notes: Located in this ex-council building the property benefits from being a 10 minute walk to the town centre, is located close to the College of Art, Tesco’s superstore and has easy access to M3/M27 motorways.  This property should appeal to the first time buyer/ tenant given its proximity to local facilities. The price point should be attractive to first time buyers trying to get their feet on the housing ladder. The town is a sought after area and benefits from an affluent local population.  The area is increasing in popularity and further regeneration is on the cards.
Land Registry: Recent property sales: 18/12/09 @ £118k, 16/11/07 @ £148k and 6/12/06 @ £115k
Sales data suggests retail price: £95-105k
Rental figures suggest: £575-650pcm
Research indicates: This property is a repossession which until recently has been let out at £580pcm for approx 9 years. The property is dated and could benefit from some improvements including new kitchen and bathroom, although it has been rented in its current condition. This property is well located in a convenient area for the town centre and offers affordable accommodation in an otherwise expensive town. Depending on purchase price, this could be bought as a re-sale or could prove to be a high yielding long term investment.
Recommended buying price: £65-76k
Potential yield: Approx 9.1% – 12%

Tip 3: Kent

Description: Freehold mid terrace building arranged as 3 flats – LET
Guide: £95k+
Area Notes: This property has been arranged as 3 flats ( 2 x one bed flats and 1 x studio) and is let on 3 individual AST’s. The property is located in the town centre and within close proximity to a wide range of facilities and amenities. The property is situated within striking distance of the seashore, train station and easy access to the motorway network. Given the smaller size of the accommodation units and the central location these would probably appeal to younger people who want to live on the doorstep of town.
Land Registry: Recent property sales: 26/7/04 @ £146.5k, 29/10/03 £134k and 28/6/02 @ £67,950k
Sales data suggests retail price: £145-165k
Rental figures suggest: £980 (flats lets at current market rates)
Research indicates: This area has been undergoing regeneration for a number of years. There have been public transport enhancements and the government have spent money to improve the area. This is starting to improve – although this is a long term plan. The accommodation on offer is affordable for people working and living locally. The property would suit an investor who is looking for a long term investment with higher than average rental yields. The subdivision of this property allows maximum rent to be extracted from the current layout of the property. In the future, it may be possible to split the freehold into leaseholds and sell the flats individually.
Recommended buying price: £105-125k
Potential yield: Approx 9.4% – 11.2%

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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