8:42 AM, 29th April 2022, About A year ago
In the wake of an influx of landlords who are choosing to downsize and sell their portfolios, we sat down and chat with Roy, a landlord who did just that and did it in an astonishing 3 weeks.
Roy got into property by following in the footsteps of his father, with his first house purchase being in Manchester. From the sale of that property, he then started to build up a private portfolio of 15 buy-to-let houses and eventually created a whole business based on being an expert at buy-to-lets and conversions to HMOs.
Mid pandemic, however, he found out that one of his property clients had made the decision to start selling off their portfolio, and had turned to Landlord Sales Agency. He informed Roy that they were unlike any other traditional estate agents, who many of his landlord piers had had negative experiences with, and went on to tell Roy that they were “excellent,” leaving Roy convinced that when the time came to sell his properties, he would also use Landlord Sales Agency.
That time came quicker than expected. A year later, it was clear that now was the time for Landlords to start downsizing their portfolios and cashing in. A unique set of circumstances had led to this: an extreme market high followed by changes in both regulations and extortionate upcoming tax bills meaning that, for many landlords, it no longer made sense to hold on to the property machines that had once brought them large monthly passive incomes. That couped with EPC changes and upcoming refurb costs of around £10,000 to £15,000 per property and the conclusion was clear: it was time to sell and cash in while Roy could still squeeze a profit out of the portfolio, and before the window to sell for the highest price possible closed. Like so many Property118 landlords, he followed up with the obvious choice: contacting the exit portfolio experts, Landlord Sales Agency.
The result: my company, Landlord Sales Agency did exactly what we said we’d do, from the moment Roy reached out “I had a really good experience working with you guys. The thing that stood out for me, was the transparency throughout every stage.” Roy had to achieve a minimum price for each property for it to make sense, and he was able to do that on every single property sold through Landlord Sales Agency. Unlike traditional Estate agents who have “unnecessary bureaucracy and you don’t know who is actually looking out for your interests, with you guys you could tell that the transparency with you guys made everything much better.”
All Roy’s properties sold through Landlord Sales Agency were sold at a higher price than expected in super-fast time – just 3 weeks – with cash in the bank quicker than any other company out there.
Two of the properties in the portfolio sold in less than one week.
Roy was delighted: “I would definitely encourage other landlords to consider Landlord Sales Agency over traditional means of selling a property. You guys are really proactive in getting involved in helping things run smoothly. You guys are doing something that’s different. You are go getters and it’s good to see that there’s people out there in the property industry who know how to do this the right way.”