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Property Auction Tips – Buying Bargains At Auction 1.7.10

July 1, 2010

WELCOME to issue 8 of my TRIO of real auction tips from around the country!

Results from Tip sheet 7:

As you can see my target prices from the last issue are spot on which means you can get yourself a great property investment at auction!

Tip 1: Birmingham – Recommended buying price: £68-78k. Sold before auction for undisclosed sum.

Tip 2: Hampshire – Recommended buying price: £65-76k. Sold for 70k

Tip 3: Kent – Recommended buying price: £105-125k. Sold for £124k

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 1 bed first floor flat
Guide: £90k+
Area Notes: This property is situated in a popular and convenient residential location just a few minutes walk from two train stations giving easy access into central London (Victoria and London Bridge) in approx 25 minutes. The property is also within walking distance of local shops and amenities with more restaurants and facilities being available just 1 mile further in the neighbouring locale.
Land Registry: Recent property sales: 28/8/08 @ £144k, 13/12/07 @ £190k and 14/9/07 @ £209,995k
Sales data suggests retail price: £115-120k
Rental figures suggest: £650-750 pcm
Research indicates: The property is presented in reasonable order though may benefit from some cosmetic improvements. It is a small apartment which has been converted approx 18 years ago. The property would suit a single professional working/ living locally, or a couple who are on a tight budget (and don’t have too many belongings!). The convenient location should ensure this property remains in demand – it has excellent transport links and a wealth of facilities on the doorstep. This property offers an affordable step on the ladder for first time buyers. Given the future upgrades and ongoing improvements in the area, this property may prove to be a good long term capital investment.
Recommended buying price: £90-100k
Potential yield: Approx 7.8% – 10%


Tip 2: Hampshire


Description: 1 bed first floor flat
Guide: £50k+
Area Notes: The property is situated in a popular location and is well placed for regular bus services and local shopping. The flat is conveniently located within walking distance of the comprehensive facilities around the precinct with its many shops and restaurants and just beyond this are the open spaces of the Common and the Seafront. There are good links to other parts of town, the university and the mainline railway station.
Land Registry: Recent property sales: 18/11/09 @ £100k, 13/03/09 @ £122k and 13/3/09 @ £111k
Sales data suggests retail price: £70-80k
Rental figures suggest: £450-525pcm
Research indicates: This property is a repossession which is presented in good order. Documents suggest it has recently been converted and benefits from a modern kitchen and bathroom. This property would suit those who are looking to invest for the long term as a high yielding investment, or if bought at a competitive price may enable a buy and sell strategy.  Bought well this property should prove to be a good capital and income investment.  The area is continuing to undergo improvements and is attracting an increasing number of people.
Recommended buying price: £48-58k
Potential yield: Approx 9.3% – 13.1%

Tip 3: Devon – What If?? Get your thinking caps on!

Description: WW2 Bunker
Guide: £50k+
Property Notes: A rare and possibly unique opportunity to acquire a World War II bunker/pillbox measuring internally c.3.7 x 2.2 enjoying a stunning location overlooking the sea and island. As well as the building itself, the property benefits from its own general amenity land and slipway.
Research indicates: This unique property is situated in a desirable and sought after location which should appeal to those who are looking for a place where they can “get away from it all”. The size of the actual property is tiny and thus clever additions (vertically/ into the cliff face/ glass extensions) need to be developed to fully leverage the stunning location.  The property benefits from amenity land and slip way which is most probably the way to unlock the value of this. The location is a popular tourist destination and a number of commercial initiatives may suit this property.   This is a unique challenge in a desirable front line location – the rarity value will ensure a potential bidding war!


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

National Landlord Association Woman in Property Awards 2010

June 25, 2010

Last night saw the country’s leading property entrepreneurs gather together for the prestigious NLA Property Women Awards 2010. Competition was fierce but Samantha Collett, Founder and Director of VirtualLetz.com and Gorgeous Homes Property Management won the coveted award for Women in Property 2010 (West Midlands)

David Salusbury, Chairman, NLA said “The standard of the 2010 entrants has one again been outstanding. Each year the judges are looking for dedicated and inspirational women who regularly go above and beyond”

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

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: 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: 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

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

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: 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: 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

3 Questions Landlords Should Ask Before Showing A Tenant Your Property

May 28, 2010

www.VirtualLetz.com – Bringing People & Property Together

How many times have you shown someone a property only for them to turn around and say “Well, it’s nice and when I am ready to move I will give you a call”. GRRR how frustrating!! You have just spent all that time showing somebody a property who is not even looking to move yet!

To make sure you spend your time wisely and only show those candidates who are likely to want to rent your property (and you want to rent it to them) here are 3 key questions you should ask before you even book that viewing in the diary.

The following need to be asked in a friendly manner which is based on you being interested in the person who has contacted you to know more about the property to let. These enquiries are a two-way street – they want to know if the property is suitable for them – and you want to know if these people are suitable for your property!

  1. When are you thinking of moving? This is a critical question as they may be looking to move within the next week, but your property is not available until the end of the month. Conversely your property may be available for immediate occupation but they are not looking at moving for another 6-8 weeks. Are you really willing to hang on to an empty property that long? Getting a time frame is important so that you can see how your schedule fits with theirs.
  2. Are you currently employed/ claiming benefits? Every landlord approaches the working/ claiming benefits situation differently. However, there are some top line questions you can ask which will give you a good insight into the candidate:
      • Where are you working currently? How long have you been working for that company? Their answers will give you more detail about the person and also will give you key information which may help you sell the property better – such as identifying commuter routes/ public transport which may be useful for the candidate.
        • Are you currently claiming benefits? What are you currently entitled to? Does that include housing benefit? Understanding the benefits a candidate is entitled to will help you build a better picture of the person and their needs. If the person is not currently claiming housing benefit and this is how the rent will be paid, it is critical that you ask them to contact the council and ensure they make an application before you proceed further.

        3. Do you have any pets/ smoke. Whether you accept these depends upon your property. It may be that you have a top floor flat and while a caged hamster may be acceptable a large dog is a no-no and would invalidate your lease.  I find that because so many landlords do not allow pets that by accepting tenants with pets, my tenants tend to stay longer and look after the property more. If a tenant has a pet (especially a dog) I ask for a larger “pet deposit” in addition to the property deposit and I also add a clause in their contract that the property will have to be professionally cleaned and redecorated if necessary when they leave. I apply the same rules for smoking. Many landlords immediately say no to smoking – and I understand why. However, there is a middle ground and you would be surprised by the amount of tenants who are perfectly happy with “not smoking in the house, but you can smoke outside”. This is such a simple compromise and can work to everybody’s benefit.

      Asking these questions before you book the viewing can save you a lot of time and hassle and ensure you get the right people to the right property.

      www.VirtualLetz.com – Bringing People & Property Together

      Sam’s Auction Tips: Issue 5

      May 19, 2010

      20/5/2010

      WELCOME to issue 5 of my TRIO of real auction tips from around the country!

      Results from Tip sheet 4: Real Homes which sold under the hammer

      Tip 1: North London – Recommended buying price: £185-205k. Sold for £256k

      Tip 2: North London – Recommended buying price: £160-180k. Sold for £165k

      Tip 3: Hampshire – Recommended buying price: £85-95k. Withdrawn before auction

      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 Freehold Semi-Detached Building internally arranged to provide Two Self-Contained Flats
      Guide: £180k +
      Area Notes: Situated in a residential area conveniently located for the town centre, tube and railway connections (approx ¼ mile away). Located in Zone 2 this property offers easy access to central London and also surrounding areas via major roads.  This property should appeal to first time buyers and tenants who are working in the area or commuting. The property has excellent transport links and is within walking distance to a wide range of amenities and green open parks.
      Land Registry: Recent property sales: 4/12/09 @ £665k, 19/10/06 @ £370k and 25/11/05 @ £462.5k
      Sales data suggests retail price: £390-430k (per flat £195-£215k + freehold)
      Rental figures suggest: £1700-1900 pcm (per flat £850-£950)
      Research indicates: The property comprises a semi-detached building arranged over ground and first floors. Internally the property is arranged to provide two self-contained flats. The ground floor flat benefits from a rear garden.  Ground Floor Flat Reception Room, Bedroom, Kitchen, Shower Room with WC and wash basin First Floor Flat Reception Room, Bedroom, Kitchen, Bathroom with WC and wash basin. This bay fronted property offers opportunity for development (subject to planning) as you are buying the freehold and may be able to extend and create an additional flat/ bedrooms.  The price guides here are based upon the existing accommodation.

      This property offers a good opportunity for a small developer to upgrade and split the flats into leasehold to sell or rent. The proximity of the property to an improving central London area should make this a popular choice.

      Recommended buying price: £240-270k
      Potential yield: Approx 7.6% – 9.5%


      Tip 2: Hampshire

      Description: 3 bed end of terrace house
      Guide: £90k-£110k
      Area Notes: Located in a sought after residential area this property is situated within walking distance of the town centre, local schools and further amenities. The property is well located for cliff top walks and access to the local beach.  There is a railway station approx 2 miles from the property and good road networks for access to neighbouring larger towns. This is a well regarded area which would ideally suit a first time buyer/ growing family.
      Land Registry: Very low churn – one property sale on record: 16/12/05 @ £185k
      Sales data suggests retail price: £185-200k
      Rental figures suggest: £700- 800pcm
      Research indicates: This property occupies an enviable location of being a family home which suits both work and play. It is well located for transport connections to larger cities for employment and also is situated close to the award winning beaches.  This area is sought after by locals wishing to stay in the area, those looking to move into the area for the perceived “good life” (of work and play) and those returning from faster-paced cities, such as London, to start their family.  This property also offers good value family accommodation in an area which is often above the national average house price. Bought at a competitive price this property could offer a good opportunity to improve and sell, or potentially as a “keep-and-hold” as part of a wider investment strategy.
      Recommended buying price: £110-140k
      Potential yield: Approx 6% – 8.7%

      Tip 3: Cambridgeshire

      Description: 2 bedroom end of terrace house – freehold
      Guide: £85k+
      Area Notes: This property is located within a purpose built estate to the north of the town centre. The property is a modern style starter property. This is a popular residential area which offers easy access to the local town and surrounding areas.  The local town offers a range of shops and amenities with further facilities to be found in surrounding towns and cities. The area is popular with commuters due to the close proximity of excellent transport routes and it’s affordability. The motorway is approx 3 miles away, mainline train station 5 miles away and the city of Cambridge 17 miles to the south.
      Land Registry: Recent property sales: 30/11/07 @ £124,995k, 24/9/07 £125k and 1/6/07 @ £217k
      Sales data suggests retail price: £115-130k
      Rental figures suggest: £550-600
      Research indicates: This property will appeal to tenants and buyers who are looking for a convenient choice – both in terms of proximity to commuter routes and in terms of property upkeep and maintenance. The modern style of the property and the estate offer an easy choice for buyers/ tenants looking for a low hassle property option. The area is well located and well priced for commuters travelling to Cambridge, Peterborough and surrounding areas. The modern build of this property should mean most work is cosmetic and offers a low maintenance investment property – or a possible improve and sell.
      Recommended buying price: £85-100k
      Potential yield: Approx 6.6% – 8.5%


      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

      10 Ways to be a Better Landlord: Treat your Tenants as Customers

      May 19, 2010

        http://www.VirtualLetz.com – Free Tenant Search & Property Advertising

        1. Treat your tenants like paying customers. So many landlords take it for granted that when they have a property to let that tenants will just come running. Wrong. Tenants are paying customers and right now there is a lot of choice for them on the property market. It is important that you understand that tenants are paying customers – they are paying for a service and a product which you are providing.
        2. Treat your property like a product – which means you need to understand that your property is the product which you are selling. Be it a small studio or a large detached house – it is a product. It is something which a tenant (customer) you hope will buy. When thinking of selling your product you need to make sure you are pitching it to the right customers (those who have the money and the desire to buy your product).  Sell it to them with your product features in mind (e.g. transport links, en-suite, large garden etc)
        3. Treat your buy to let as a business. Renting out properties may be a pension pot or an additional source of income. Either way – it is a business. You have got into buy-to-let because you intend to make money. That means you must run this as a business and not as a hobby. What that means is keeping accurate records, ensuring you meet current regulations and ensuring that your business complies with the laws of the land.
        4. Pay attention to the changing market place. As in any market place, new products (properties) are coming onto the market all the time. It is critical to keep up to date which other changes which may be afoot and which may mean you change your business strategy. For example, it may be there is a glut of 3 bed family homes on the market but a shortage of rooms to rent.  This may mean that your 3 bed house may be better suited as a shared property of 4 rooms.
        5. Be ready to react – when you are aware of the trends in the market place it enables you to react quicker and be ahead of the crowd. This means that you should ensure your property is rented quickly and reduces voids. You should also be aware of when your property is overpriced or there is an oversupply and re-adjust your prices accordingly. Empty properties are expensive properties.
        6. Encourage and reward customer (tenant) loyalty. When you have good tenants reward them for being loyal to you. Consider if you really need to put up the rent? What other things can you do to improve their lives – maybe just a can of paint if they want to redecorate can make them feel that you care more. DIY vouchers can also go a long way to making a tenant feel rewarded. Some landlords also tell tenants upfront that if they always pay their rent on time and look after the property they will get a small rebate at the end of each year.
        7. Look after your property. Maintaining your property in good condition is critical to looking after your customers. When things break/ go wrong make sure you deal with it in a timely and efficient manner and always ensure the tenant is kept in the information loop. It is a good idea to ask them if a contractor can contact them direct to organise repairs and also to give them the contractors number. That way you can be sure they have another contact point.
        8. Be a great landlord/ Choose a great agent. Tenants need to trust their agents/ landlords and feel that the rent they are paying looks after the house in a legal and safe way. That means they need to feel that you look after the house and that you would not intentionally do anything to endanger them (e.g. not having gas safe checks done). Repairs should be sorted in a timely manner and tenants should not feel afraid to report issues for fear of being evicted. It is important to keep a professional yet friendly manner with tenants.
        9. Expect things to go wrong.  S*** happens to the best of us and sometimes when it happens to tenants it can also impact on landlords. When this happens it is critical that the tenant feels able to communicate this so that a solution can be found and your rent still paid. This can range from losing their job, a relationship breaking down and you needing to complete housing benefit forms with them to giving them a month’s grace while they sort themselves out. If you can act as an advisor to find the solution you will find that rent will always find a way to your bank.
        10. Be ready to move on. Tenants, like all customers, will come to a point where they want to buy somebody else’s product. Be ready for this – it is a fact of the business. Always ensure that your properties are kept well maintained, cleaned and well marketed with all the top property portals. Make sure you advertise everywhere and if you use an agent choose one who offers a great service – not the cheapest!

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