20/08/2024
Ever wondered what it feels like to turn a property into a goldmine with minimal upfront investment? This is your moment. 🌟💰
I’ve come across many property deals in my time, but this one I'm I'm doing now stands out as something truly special. 🏠✨
It all started with a 5-bedroom HMO that I secured directly from a distressed landlord. He’d been working with a careless management company that placed some difficult tenants in the property, and since he lived remotely, managing it became too much of a hassle. He was ready to move on, so I stepped in and took over the property, agreeing to cover his mortgage with an option to buy if the numbers made sense. 🤝
Here’s where it gets interesting. Without any refurb work and without paying a deposit, I removed the antisocial tenants, and this property started generating over £1,000 a month in cash flow for me—straight into my company’s pocket. 💷 And I didn’t even own it yet.
The landlord’s situation wasn't that unique. He had an interest-only mortgage and needed to sell to clear it, but his priority wasn’t making a huge profit: he just wanted to offload what had become a burden. What was unique was that I managed to give him precisely what he wanted - and thanked me for over and over - without compromising on price. He bought the house over 16 years ago for £237,000 and has since paid down some of the mortgage, leaving a balance of £145,000. 📉
We agreed that I'd pay him £145,000, and make the problem go away. And being a creative property entrepreneur has taught me that the world rewards us generously when we make people's big, painful, emotional problems go away.
That’s 61% of what the market value... not today, but what it WAS back in 2008: over 16 years ago. Even though the property’s current market value is much higher, I’ve secured exclusive rights to buy it at this price. 🎯
This property is already cash-flowing well, but it hasn’t been updated since 2008 and could really benefit from a smart refurb. With some careful planning, I can reconfigure the layout to add two en-suites, expand the communal bathroom, and make the bedrooms larger. 🛠️
This deal is a bit of a unicorn 🦄 because it’s not your standard Buy, Refurbish, Refinance. It’s more like Refurbish, Buy, Refinance. The sold price is an outlier and doesn’t reflect the current market value, which means I can do the refurb and cover the legal fees for £123,000. Then, I’ll refinance the property, likely without needing a deposit.
This could end up being a deal where not only do I leave no money in, but my company actually gets paid to buy the house. 🏦
Five years ago, I wouldn’t have believed I’d come across a deal like this. But here we are. 🚀
First, there’s 18 months of proven cash flow. Then, there’s the purchase at a price far below market value. But here’s where it gets even better: I’m buying at 39% below what the market value was 16 years ago. On top of that, the refurb could add another £100k in value. And the purchase lease option allows me to secure the house with little to no deposit and even get paid for doing so. 💼💡
I’m working with loaned funds of up to £123,000 for this project. 💰 For the investors I work with, this is a chance to grow their capital significantly and get their money out quickly. This deal has been structured to deliver substantial returns, with a clear path to refinancing after the refurb.
If this kind of opportunity piques your interest and you want to learn more about what I’m doing with this property, I’d be happy to share the details. I can provide a detailed breakdown of the figures, floor plans, and even the negotiations I had with the landlord to secure this deal. 📊📋
Whether you’re curious or serious about working on a project like this, feel free to reach out. I’m excited to offer opportunities like this to those with capital. 🙌
Being a property investor has never felt more rewarding. 🌟
