Property118 landlord overjoyed selling tenanted portfolio with National Residential for half a million in just 26 days

by David Coughlin

18:45 PM, 26th February 2021
About 2 months ago

Property118 landlord overjoyed selling tenanted portfolio with National Residential for half a million in just 26 days

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Property118 landlord overjoyed selling tenanted portfolio with National Residential for half a million in just 26 days

Half a million pounds from the comfort of your sofa in just under 26 days. For a Property118 landlord from Wandsworth that’s exactly how he celebrated his week.

If you’re a landlord, and you haven’t yet heard of us here at National Residential, you’ll definitely want to. Established in 2006, we pride ourselves on our “any problem we can fix” formula, led by myself, founder and industry expert, David Coughlin. It’s that experience, combined with the fact that I’m a private landlord myself, which has allowed us to become the best at helping landlords sell.

If you’re looking to sell your buy-to-lets, were the team to do it. We use a modern auction strategy that combines the best prices of estate agents with the speed of auctions. Along with our bespoke problem-solving, it’s what makes our modern auction unbeatable compared to any other company. No matter what the obstacle, our team’s expert knowledge and experience has allowed us to find that sweet spot for both the landlord and the tenants.

How we did it for a Property118 Landlord in 26 days

Earlier in the month, a landlord approached us with a portfolio of 5 tenanted properties that spanned from Staffordshire all the way up to Newcastle Upon Tyne. He’d read about us here and wanted to see if we really could deliver what we say, especially because selling tenanted properties is often a challenge. Like many landlords who have been approaching us recently, he wanted to sell up his portfolio fast, but also for the best possible price.

We promised him exactly that. The highest price for his buy-to-lets, no matter what hurdles needed to be overcome.

1.First, we marketed the properties to both landlords and to first-time buyers in order to get as many buyers as possible in competition with each other to drive up the price through our 28-day auction. Rather than just targeting other landlords who want to buy, we know how to negotiate with tenants to leave for first-time buyers to move in, which also means this added competition leads to investors paying a little more than otherwise.

2.To keep the tenants on board to do the viewings, and so we could market the properties to their maximum, we paid them to help us with getting photos and video tours and to allow us access for viewings. It cost us less than £200 to get the all the materials we needed, and the money ensured the cooperation of the tenants. No other agents will pay this and landlords are unlikely to propose this, which is why we get access to sell properties quickly and for the best prices, like we did in this case.

3.Of the 5 tenanted properties, three were sold to other landlords, and we assisted the tenants of the other two properties to move out by helping them financially at no extra cost to the landlord. We paid for it out of our agency fee. The first property sold in 2 days. 10 days after that 2 more sold.

4.By day 24 the fourth property had sold in Durham, and by day 26 the last and final property was sold in Lancashire. The fifth property was sold to a buyer who was so happy with the photos and the video tour we’d got from the tenant, he made an offer without even viewing the property.

All the properties sold via our online modern auction with the additional help of our team going the extra mile to keep tenants onside throughout and to get the very best price for the landlord and win-win solution for the tenants.

The only task the landlord had done throughout the sale was make the decision to contact us to sell. We handled everything else.

“All the staff have been amazing. The head of sales and David have been brilliant, I’m really pleased with the sales and the prices. I’d recommend them to everyone. They’re fantastic.” Property 118 Landlord, Wandsworth

It really was that simple. £500,000 made in 26 days with zero hassle, worry or stress. The landlord was able to sit back and enjoy just over 3 weeks of relaxation knowing he had the best team in the UK solving every single challenge for him.

It’s clear our solutions are working, with well-known trusted figures such as Paul Shamplina joining forces with myself, and the expert panel at National Residential, in a recent webinar https://www.landlordzone.co.uk/news/mydeposits-to-run-the-great-tax-debate-webinar/

No matter what issues arise, we really do overcome every single obstacle to get your properties sold for the best prices. We’ve done it time and time again.

Why right now the best time to sell your property portfolios

There’s never been a better time to sell your property portfolios than right now. House prices have been predicted to fall following the end of the stamp duty holiday in June, so now is the perfect window to release the cash in your portfolios and sell up. We’re the team for the job, a team you can trust, who’ll get it done quickly, for the highest price.

Is Covid really a problem for Landlords trying to sell?

Despite what you may have heard or experienced, the answer is no, it doesn’t have to be. During Covid we’ve decided to go all-out to help landlords who are hit by section 24 taxes, by the pandemic, and by the evictions ban – as we have investors who want to get into the buy-to-let market, so we’re acting as a consultancy/sales machine in the middle.

We do a far better job at getting the best prices for tenanted properties and getting deals over the line than traditional estate agents do. We hand-hold tenants whose landlords are selling up, and we also have national reach unlike most local agents helping landlords sell their portfolios in different locations.  Not only that we have landlords who will buy properties where tenants totally refuse to cooperate and allow access for viewings or surveys. We have even sold properties recently for amazing prices where the tenants are not paying the rent.

You only have to read our reviews on Google and Trustpilot to see that we’re a company that absolutely delivers what we say.

So if you’re a Landlord who wants to sell their property portfolio, get in touch, and see for yourself what we can do for you.

National Residential can be contacted by filling out the form below.

Contact National Residential

Comments

JB

9:36 AM, 26th February 2021
About 2 months ago

The Landlord may have been delighted with the sale but I bet he wasn't so relaxed when paying his CGT bill!

DSR

11:56 AM, 26th February 2021
About 2 months ago

Hope that he used his own solicitors, and not Mellors. I'm afraid our experience of them has been very poor. Happy to give you feedback about it!

silversurfer2017

19:06 PM, 26th February 2021
About 2 months ago

Reply to the comment left by JB at 26/02/2021 - 09:36
Landlord perhaps thought that 28% CGT now is better than 40% CGT later. Budget on 3rd March leaves no time to sell properties in this tax year. IMHO CGT and Corporation tax increases are no brainers for a chancellor keen to raise money and not affect, at least directly, the majority of ordinary taxpayers.

David Coughlin

10:37 AM, 27th February 2021
About 2 months ago

Reply to the comment left by RL at 26/02/2021 - 11:56
Hi RL - happy to take any feedback on Mellors?
They have just completed on a sale for another Property-118 member in just 25 days (sold in 6 days; completed in 25 days - £15K over guide) - so the can deliver amazing results with our team.
Please let me know what issues/expereince you have had so we can fix and improve 🙂

David Coughlin

10:41 AM, 27th February 2021
About 2 months ago

Reply to the comment left by at 26/02/2021 - 19:06
Lots for landlords to think about: (i) will CGT go up in budget so better sell now? (ii) will end of stamp duty holiday - now extended till June - dampen sale prices - again so better sell now?; (iii) Section24 and tax bills need paying - so better sell now.
It's decision time for lots investors and we are getting stuck in to help those who decide they want to sell.

DSR

10:43 AM, 1st March 2021
About 2 months ago

Reply to the comment left by David Coughlin at 27/02/2021 - 10:37
direct email so I can do just that?

Nat

17:35 PM, 1st March 2021
About a month ago

Seems a great result, but what price did you achieve for your client in relation to average "market value" or "guide price"? I have seen averts by a number of other similar entities who claim to sell your properties fast, but at well below market value, e.g. as low as 80%. Of course, you have to cover all the costs involved (which could vary significantly from property to property) and still make profit; but what sort of price can you achieve? Also, can you sell properties of any value or is there a maximum limit?

David Coughlin

19:04 PM, 1st March 2021
About a month ago

Reply to the comment left by RL at 01/03/2021 - 10:43
yes - david.coughlin@national-residential.co.uk

Mick Roberts

9:52 AM, 2nd March 2021
About a month ago

Brilliant stuff.
I've spoke with u & your men Ian & Tom & it's clear u know what u r doing & you'd go that bit further than some of us as u know more about the selling to other Landlords game.

I'm not doing advertising here for Dave, but other Landlords, if u think 'OOh I'm not taking a bit of a discount to sell', look at my figures I've worked out for myself, as I used to use these figures when I bought tenanted properties:

I save the notes below to tell buyers if they thinking of evicting tenant & putting on with an agent, they could end up with the same money as if sold to me for £10,000 cheaper by keeping tenant in.

Even if sells quick, still takes months to go through.
She gonna' save or have to pay £2000+ Estate Agent
£1000+ Council Tax
£3000+ mortgage
£3000 not received rent cause house now empty while sell.
Paint & carpets £1000.
Total £10k could save by selling to me, or spend by selling with Agent ie. If you leave & sell with Agent, she will have all them fees above, so will only receive £120k.
Plus u get to look after the tenant keeping them in their home.

U landlords can get rent in to the VERY LAST MINUTE, zero Council tax to pay, no empty house potential damage. Add it up.

NW Landlord

18:54 PM, 2nd March 2021
About a month ago

What sort of LTV to Market value are you achieving ?

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