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Monday 8am - 8pm Tuesday 8am - 8pm Wednesday 8am - 8pm Thursday 8am - 8pm Friday 8am - 8pm Saturday 8am - 8pm Sunday 8am - 8pm

Letterbox Property Solutions

Name: Letterbox Property Solutions
Address: Sunderland, SR67RR, GB
Telephone: +441915438144
Price range: £

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United Kingdom
Sunderland
Letterbox Property Solutions

Letterbox Property Solutions is a local company who can help you sell your property quickly, discreetly and with no hassle, whatever your circumstances.

21/11/2022

Presenting on our monthly webinar to current and aspiring investors 💻

We covered:

- How a loss assessor can you help with an insurance claim
- Guttering and drainage defects
- Budget update
- Mortgage market update

80 investors armed with more knowledge to go out and grow their portfolios 💪🏠

It’s so important to keep up to date in changing times

18/11/2022

FRIDAY FLASHBACK

One of our HMOs 🏠🏠🏠

It’s a maisonette in the North East. We negotiated with the freeholder to remove the clause preventing use as an HMO and did a cosmetic refurbishment with a couple of additional bathrooms to make into a 5 bed 4 bath HMO.

Headline figures are:

Purchase 💰£105,000
Refurb and furniture £31,000
Valuation £140,000 (more like £170,000 now)
Gross rent £2,025

A solid blue collar market means rooms are never empty. Although bills have risen since, we have found rents have almost kept pace meaning similar monthly cashflow.

Anyone fancy one of these?!

16/11/2022

Lots of 💩💩💩💩 making sure we get this baby through in time. Finally remortgaged today 🙏🙏

I might get the offer framed as I don’t think we’ll see any rates like this in the foreseeable future

15/11/2022

Spent today rewriting the slides for our upcoming Serviced Accommodation course in Sunderland on 26/27 November. We work with an SA management agency with more than 650 properties under management and a turnover in excess of £25 million to ensure attendees are giving an A-Z guide of how to buy the right property for this strategy.

Unlike Facebook or Instagram might suggest, NOT EVERY PROPERTY IS SA. In fact very few are..

If you want to find out more about successfully using this strategy to achieve four times the return of a single let just DM me

11/11/2022

FRIDAY FLASHBACK

To an HMO room inspection where the bath was leaking into the kitchen below. Now we know why

I think I’ll leave this one there…😳

10/11/2022

As part of reconciling our social media, we will be shutting this account down shortly. Just follow our personal Facebook or Instagram pages for my educational content/rubbish

Angus_Griffin_Property on Instagram

Or Angus Griffin or Janet Griffin on Facebook

08/11/2022

THE REALITY OF PROPERTY INVESTING

Just dealing with an insurance claim following a small fire in one of our HMOs. One of the tenants thought it was a good idea to put a tea towel in the tumble dryer for 3 hours…

Thankfully the property was fully fire compliant and the alarm and fire doors did their jobs, containing the fire to the utility room.

Everyone is fine and safe - apart from the CEO of the insurance company who are taking weeks to process the claim but won’t let me crack on to repair items in the meantime🤬…

If you are in the game for long enough things like this, problem tenants and rent arrears are impossible to avoid. All unpleasant but just part of the journey.

Make sure anyone who helps you in property has been in the industry long enough to have been through many downs as well as ups. The greatest value in a mentor is someone who can help you avoid and solve challenge - so they need to have been through plenty themselves!

If you an honest, no BS approach to building your portfolio DM me to arrange a chat

04/11/2022

FRIDAY FLASHBACK

I always say property is a long term game and the real benefits are for future generations. You do all the hard work. They reap the rewards.

We picked up this little 3 bed terrace after it didn’t sell at auction, did a light cosmetic refurb (including changing it back to a 2 bed as it was just too small as a 3 bed). Numbers below:

Purchase price: £57,000
Refurb: £7,600
Refinance value: £85,000
Rent at time: £525 per month
ROI: 66.2%

This little workhorse has only ever had the same tenant in it from day 1 - although now paying 625 a month as rents have increased over time.

If you want practical, no BS help building your portfolio drop me a DM to arrange a free no obligation chat.

01/11/2022

MY MORTGAGE BROKERS FACE WHEN I CALL HIM AGAIN

But the next 6 weeks could be a crucial time to stay on top of mortgage rates. There might be a chance of a short lived drop in rates as lenders readjust pricing now we have a more stable government who are likely to release a costed plan to fund current outgoings.

But you will need to stay on top of rates on an almost daily basis and move fast. So your relationship with your broker will be crucial.

PS he’s not actually that old.

29/10/2022

FRIDAY FLASHBACK

On a Saturday. Ok so timings are a bit off.

But not as off as DIY Dave’s “damp proofing”. Uncovered during a refurb on an HMO.

It gets worse. The top half was plastic supermarket bags binned together. To be fair they weren’t 35p a pop at the time….

24/10/2022

PROPERTY SICKNESS STRIKES AGAIN

I’m a bit worried about the gaps between the tiles in the yellow roof. Paddington Bears next door neighbour really needs a roofer out ASAP

23/10/2022

PROPERTY VIEWING TIP

The places I see most people under budget for their buy to let refurbishments are:

Roofs🛖
Damp 💧

These pictures are taken from some on site work with a coaching client. The roof has a slight dip which many people might miss on a quick glance - or even if you just forget to 👀⬆️!!

In reality the timbers were structurally unstable due to historic woodworm. You can see the flight holes in the pictures. In fact the beams were almost crumbling to touch

As this building was grade II listed that meant the numbers didn’t work and it was a walk away on this occasion…

Address

Sunderland
SR67RR

Opening Hours

Monday	8am - 8pm
Tuesday	8am - 8pm
Wednesday	8am - 8pm
Thursday	8am - 8pm
Friday	8am - 8pm
Saturday	8am - 8pm
Sunday	8am - 8pm

Telephone

+441915438144

Website

http://www.letterboxpropertysolutions.co.uk/

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