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Property Auction Tips: The REAL Homes Under the Hammer! 1.8.10

August 1, 2010

WELCOME to issue 10 of my TRIO of real auction tips from around the country!

Results from Tip sheet 9:

Tip 1: South London – Recommended buying price: £155-175k. Sold prior to auction for undisclosed sum.

Tip 2: Cheshire – Recommended buying price: £185-195k.  Still available at £190k

Tip 3: Hertfordshire – Recommended buying price: £100-110k.  Sold prior to auction for undisclosed sum.

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: Devon

Description: A 1 bed upper floor flat requiring refurbishment
Guide: £25k+
Area Notes: Situated in the town centre and just moments walk from the range of leisure and shopping facilities on offer. This is a popular central location which provides easy access to the local transport links, town centre amenities and award winning beaches. On the doorstep of all the action this property is also conveniently situated for the green open spaces of the parks nearby.
Land Registry: Recent property sales: 13/6/08 @ £71k, 19/4/06 @ £85k and 26/1/06 @ £79k
Sales data suggests retail price: £50-60k
Rental figures suggest: £300-350 pcm
Research indicates: The property is a converted flat in a period building. The property’s central location means it is within easy walking distance of the town facilities and beach. The property is compact and thus would mainly appeal to a single person/ couple. This could also serve as a lock up and leave bolthole for someone wanting a cheap holiday home on the South coast.  Bought close to guide this could be an attractive buy – esp. for someone who is looking for an affordable second home or high yielding buy-to-let.
Recommended buying price: £24-32k
Potential yield: Approx 11.3% – 17.5%


Tip 2: Cornwall


Description: 1 bed flat in converted building
Guide: £25k+
Area Notes: This property is situated in a town centre location close to the local amenities and beach. The property is within easy walking distance of shops, bars, restaurants and local transport connections. The mainline train station is located within a five minute walk.
Land Registry: Recent property sales: 1/5/09 @ £175k, 14/03/08 @ £142k and 11/08/06 @ £272k
Sales data suggests retail price: £50-60k
Rental figures suggest: £350-400pcm
Research indicates: This property is a repossession which could benefit from some cosmetic improvements (currently presented in fair condition). The property is situated in a sought after area close to local amenities and the seafront. The property would appeal to both tenants and also someone who is looking for an affordable holiday home/ second home. Bought well this property could be a good potential buy-to-let giving good returns or also a value for money holiday home.
Recommended buying price: £25-35k
Potential yield: Approx 12% – 19.2%

Tip 3: What If?! – Cumbria


Description: Methodist Church on generous plot
Guide: £50k-£60k
Area Notes: This property is situated on an island just off the mainland. Located close to the golf club and with stunning views over the water this property offers a unique opportunity. The main town is situated within easy travelling distance and the property is within one mile of the mainline train station. The property is located a few miles from the Lake District.  The M6 is located approximately 1 hour away.
Research indicates: A rare opportunity to purchase a development with enormous scope in a stunning location with views over the water. There is expired planning permission. The property is a stunning building and offers glorious potential to transform into a variety of ideas – from a hotel to residential apartments subject to the relative consents. A great project at a great price.


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

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