I’ve got another property deal here for Manchester that came in that I want to tell you about. These days, it is hard to find properties that are going to come in below £40,000 but this one has come in at just £33k and is currently paying £385 a month from the tenant that is living there.
These figures are great for anyone wanting to buy such a property as the market value is £50,000 so there is £17,000 in equity on the property straight away and you will also be getting a great yield on that as well.
If you take a look at this video, I will tell you about the things that you need to be aware of when buying this kind of deal.
So if you found a deal like this, do you think that you would be able to sell it on for £3,000? Of course you would. People would snap that type of deal up from you all day. They are going to get a great return from it and for the right kind of landlord it can be a great addition to their property portfolio.
Of course you will more than likely be looking to sell this on to a landlord that is used to dealing with Local Housing Authorities (LHA). The price of the property will be relevant to the type of area so they are less likely to be getting professional type tenants in to live there. Your job as a property sourcer is to find those types of landlords and then package the deal talking about those aspects. If you try to sell them this kind of a deal as a place for up and coming professionals then you are going to lose their interest and attract the wrong kind of landlords to your offer.
This is one of the things that we cover in this recording. The recording tells you about how to source new deals and also how to package them correctly and then sell them on. It contains real life examples that have already been done before.
To access the recording, simply click this link.