How do I sell up a portfolio?

by Readers Question

8:49 AM, 21st June 2019
About A year ago

How do I sell up a portfolio?

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How do I sell up a portfolio?

I have been a private landlord for approximately 30 years and am now looking to retire. I would prefer to sell my houses as a going concern as most of my tenants have been with me for up to 25 years and look upon their rented property as their forever homes.

My portfolio is based in the North East of England and properties are in excellent order, but although I’m reasonably competent at buying and renovating properties I’ve never made a multiple sale. Therefore, would anyone have any advice on how to go about selling a portfolio please?

Many thanks

Julie


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Comments

Mick Roberts

9:26 AM, 22nd June 2019
About A year ago

Great way of putting it:

Someone told me just accept they wont ever be as good as you and write off an extra 10% of your business for the mistakes they will inevitably make . I like that approach as it massaged my ego . Treat their failings he said as a sunk cost rather than fretting about it .
So pay them 25K pa and also write off 10% of profits and get freedom . Once i got my head around that approach it sat better with me .

JB

9:58 AM, 22nd June 2019
About A year ago

Reply to the comment left by Jonathan Clarke at 22/06/2019 - 08:37
The trouble is the buck always stops with the landlord. The landlord has to sort out sitting tenants (eg if gas cert is not served properly), the landlord goes to prison (eg if fire regs are not updated). The Landlord still has to do accounts and insurance etc. Do I still want that headache? NO!
Boris can sort the mess out if he's around long enough. (he wont be!)

Jonathan Clarke

11:40 AM, 22nd June 2019
About A year ago

Reply to the comment left by JB at 22/06/2019 - 09:58I know what you mean but everything you mentioned can be outsourced at a cost. The buck stops with any CEO but they outsource responsibilities all the time . Yes they like us still have overall responsibility but you stream line it so your time input is minimal by setting up effective good practices . For instance I used to have loads of insurances but then went with a portfolio insurer and now once a year it takes me 15 mins to review and sign it off . Accounts are an accountants job etc . I am happy to check a folder with a gas cert in for peace of mind but someone else can arrange and do it and check its been done etc .
I think sometimes self made people ( and that includes me ) think they are indispensable somehow whereas a CEO who has 3000 employees would be mildly amused that we worry about these relative small details . They couldn't operate if they had to micro managed Every hour of every day one of their staff could mess up though but they mange to sleep at night
So in my view its more about the fear factor in the back of the mind about the `what ifs` as opposed to the solvable practicalities of delegating tasks ... if one though is still not comfortable with that new well trodden structure then yes it might be the time to offload the whole shebang!

Luke P

0:41 AM, 23rd June 2019
About A year ago

Reply to the comment left by David at 21/06/2019 - 11:26
David, send me an email at singlelayer@icloud.com

JB

12:29 PM, 23rd June 2019
About A year ago

Reply to the comment left by Jonathan Clarke at 22/06/2019 - 11:40
I guess you're right. After I've had an extended break in the Bahamas I may feel more like continuing!

Jonathan Clarke

12:57 PM, 23rd June 2019
About A year ago

Reply to the comment left by JB at 23/06/2019 - 12:29
Yay. That`s the spirit !

Joe Robertson

9:22 AM, 25th June 2019
About A year ago

Hi Julie,
If you have a portfolio spread sheet with the property details on eg address, current market value and current rental income. leasehold/freehold, how many beds etc and price you want for the entire portfolio I may be interested in acquiring or know the right people to help. my email address is joseph.robertson1@gmail.com

Luke P

11:17 AM, 25th June 2019
About A year ago

Reply to the comment left by Joe Robertson at 25/06/2019 - 09:22I've sent you an email, Joe.

john mcghee

12:59 PM, 25th June 2019
About A year ago

Reply to the comment left by David at 21/06/2019 - 11:26
Hi David,
I have around 17 properties in my portfolio and am looking to sell them all in one go. Circumstances have led us down this road which l find hard to talk about it. Just to give you a quick explanation, the business was set up 11 years ago by my son, they were all bought in my name as my son had an IVA against him and once it cleared all the properties were to be transferred to him en-block. Unfortunately we lost him to cancer 5 years ago, l have been running the business for my daughter in law, but now being 70years old we have decided to let them all go. If you are interested in this portfolio please get in contact with me by phone in the first instance or email if preferred.
Thanks,
John

Joe Robertson

13:08 PM, 25th June 2019
About A year ago

Reply to the comment left by john mcghee at 25/06/2019 - 12:59
Hi john,
As per my previous comment:

If you have a portfolio spread sheet with the property details on eg address, current market value and current rental income. leasehold/freehold, how many beds etc and price you want for the entire portfolio I may be interested in acquiring or know the right people to help. my email address is joseph.robertson1@gmail.com

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