12:05 PM, 25th April 2013, About 10 years ago
My friend Kelvin Kingsley has discovered some more repossession bargains, the difference being these are already let 🙂
They are modern two bed flats in Greater Manchester, built just a few years ago. Most of them are sold but there are a few remaining and they will soon be snapped up by investors at the current asking price of just under £70,000. They are let to hospital staff for £475 a month which equates to a gross yield of 8.1%.
There are several comparable sales listed on HM Land Registry and if you go back to the peak in 2007 you will see that these units were selling between the range of £108,000 to £145,000. To download a full copy of Kelvin’s “due diligence” please complete the form below.
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We are now working exclusively with Kelvin who, as you will be aware if you are a regular reader of my articles, does not charge fees to investors as he is retained as an agent by vendors who are typically developers or insolvency practitioners. According to the Estate Agency Act 1979 this now makes us estate agents. Therefore, to keep ourselves compliant we have registered the Trading Name “Your Property Concierge” with the ICO and also become a member of The Property Ombudsman redress scheme (membership number – D8072)