Skip to content

Property Auction Tips 13.7.10

July 13, 2010

WELCOME to issue 9 of my TRIO of real auction tips from around the country!

Results from Tip sheet 8:

Tip 1: South London – Recommended buying price: £90-100k. Sold for £90k.

Tip 2: Hampshire – Recommended buying price: £48-58k. Sold for 67k

Tip 3: Devon (WW2 bunker) – Results not yet available

For your next FREE tip sheet email me today: sam@virtualletz.com Please pass this tip sheet on to anyone you think will be interested!

And if you need to let your house remember to visit: www.VirtualLetz.com to advertise your property for FREE!

Hope you enjoy!

Sam

Tip 1: South London

Description: A 2 bed ground floor flat with rear garden
Guide: £165k+
Area Notes: Situated in a popular residential street this property is located within 5 minutes walk of a tube station. Transport links are excellent with additional tubes and overground rail services being situated within close proximity.  The high street with a range of shops, bars and restaurants in located within a few minutes walk of the property.  The property is also conveniently situated for the hospital and green open spaces of the parks.
Land Registry: Recent property sales: 3/7/07 @ £336.5k, 18/5/07 @ £250k and 6/3/07 @ £280k
Sales data suggests retail price: £220-240k
Rental figures suggest: £900-1000 pcm
Research indicates: The property requires modernization and attention to dampness to unlock it’s full potential in terms of value. The property is a converted flat in a period building. The property benefits from a rear garden and should appeal to a young couple/ family. Situated conveniently for transport connections and a wealth of facilities within easy walking distance should make this a popular buy. This is an opportunity for adding value by bringing this flat up to modern spec.
Recommended buying price: £155-175k
Potential yield: Approx 6.2% – 7.7%


Tip 2: Cheshire


Description: Modern 4 bed detached house with drive and garage
Guide: £190k+
Area Notes: This property is situated in an affluent and sought after estate. The property is located on the outskirts of town and is well placed for good local schools and the hospital. The area is well regarded and benefits from a range of local facilities. The motorway network is within easy driving distance. The train station is 1.5 miles away offering good commuter links.
Land Registry: Recent property sales: 23/1/09 @ £242k, 30/03/07 @ £229,950k and 21/11/05 @ £209,950k
Sales data suggests retail price: £225-250k
Rental figures suggest: £800-900pcm
Research indicates: This property is a repossession which could benefit from some cosmetic improvements. The property is a modern build in a pleasant and sought after area. It is situated on a generous plot and the garden overlooks woodland to the rear. This is an ideal family home and should appeal to a large section of more premium buyers due to it’s location and proximity to a wide range of facilities and commuter links. Bought well this property could be a good potential buy and hold – and sell when the market returns.
Recommended buying price: £185-195k
Potential yield: Approx 4.9% – 5.8%

Tip 3: Hertfordshire


Description: Modern top floor 2 bed apartment with allocated parking
Guide: £104k+
Area Notes: This property is situated within the heart of town and easy walking distance to the high street with a range of shops, bars and restaurants. The train station is a few minutes walk from the apartment offering a short commute into central London. The M25 is located just a few miles from the property. The excellent transport links and proximity to London make this an ideal commuter property.
Land Registry: Recent property sales: 12/9/05 @ £135k, 11/03/05 @ £150k and 10/9/04 @ £155k
Sales data suggests retail price: £125-135k
Rental figures suggest: £725-800pcm
Research indicates: This property is presented in good condition, although would benefit from some cosmetic improvements. It is situated on the top floor of the building with offices on the ground floor.  The residential flats are accessed from the rear and benefit from allocated parking. The block is approx 30 years old.  Given the convenient location for transport connections and facilities this property should appeal to both buyers and tenants. It offers an affordable property in a regarded area within easy commuting of central London.
Recommended buying price: £100-110k
Potential yield: Approx 7.9% – 9.6%


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: sam@virtualletz.com

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 – VirtualLetz.com.

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

Advertisements
No comments yet

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: