Repossession Property in County Durham

by Mark Alexander

5 years ago

Repossession Property in County Durham

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Repossession Property in County Durham

Repossession Property in County DurhamMy 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!

For further details please complete the form below.

Comments

Mark Alexander

5 years ago

I have just been informed by Kelvin that the property referred to in this article has now been reserved. By all means complete the form though to see the quality of documentation Kelvin produces and "due diligence" that he does when he is presented with opportunities like this one. Kelvin could also be a very useful contact for you if you are looking to expend your portfolio. You will automatically receive Kelvin's contact details when you submit the form.

Anon

5 years ago

I feel for the poor sods who paid full price. If they now try to sell or remortgage their properties a mortgage valuer acting for the purchasers lender might use this latest sale as a comparable.

Mark Alexander

5 years ago

Anon, that's possible, however, a valuer will need to provide other comparable evidence too. The full price purchases will be taken into account together with the values of other comparable property sales in the area.

Anthony Ayton

3 years ago

This is exactly the sort of deal that we advocate investing in. I have just done a search in the Repolist, real time database. We currently have 80 investment opportunities in County Durham. 11 repossessions and 69 properties which require refurbishment or development. (Search carried out at 15.14 31/10/2014)

If you would like to browse repossessions in any area of the UK please fill in the contact form on our business profile. Thanks

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