14:15 PM, 8th April 2013, About 10 years ago 4
My good friend Kelvin Kingsley has come across an opportunity to purchase a completed 3 bed Town House in County Durham from a repossession company.
Other units on the development have sold in the open market. Two comparable properties are listed on the land registry for having been sold for £120,000. The one remaining unit is being sold for just £79,995 and should return a rental yield of 9%.
Kelvin and I have filled our boots in terms of building our property portfolio’s and certainly in terms of competitive mortgage lending so we thought we would share this deal with anybody who may be interested. It’s a freebie, NO FINDERS FEES! We are not estate agents, just GOOD Landlords sharing for the sake of sharing.
If we were in the market to buy a repossession property, this one would be right at the top of our list as it’s brand spanking new, the rental market looks good, the price is right and the yield is excellent. Not just that, if you buy it with a 70% mortgage and decide to sell it within a few years you could well double you money even if property values don’t rise!
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