I spend my entire day, week in, week out, looking at property deals, whether off-market (sent directly to me, so genuine off-market, rather than a marketing trick), at auction or in some cases via lenders/receivers.
In general, in the north of England, you should look at double-digit yields at market rent for any property to be classified as a property deal.
Market Rent
I see many, some of which are sent to me at 7% or 8% gross yield in Liverpool, for instance, but I reject them, having done the maths at market rent. If the rent is market rent, then 7% or 8% in this current buyers' market is not a property deal. If it's not the market rent, then look at it, as it may present an opportunity.
By all means, buy them, as retail investors do, but if you wish to be a wholesale investor, buying in-built equity, you must buy at wholesale prices.
Wholesale Prices
Below are examples of wholesale prices. You can't find these property deals in the retail market or through traditional property sourcing agents who use estate agents and Rightmove.
Recently, we have sourced fantastic, relatively new-build apartments for clients for just £30,000 a unit, with a plan to Right to Manage (RTM) the block. We have sourced 2-bedroom houses for £62,000 and freehold apartment blocks of flats, which yield double-digits.
Investors and sourcing agents must focus on an area and become experts. You must think like an expert, analyse like an expert, and strike when the opportunity arises.
If you want to learn how to do it, and build a strategy for success, join us on the 6th July, either from the comfort of your home, or in-person in London for the Distressed Assets Workshop.
Book Now - Tickets for the in-person event or LIVE ONLINE can purchased here:
See you on the 6th July 2024. The in-person event has limited seats available
This is a day that will change your view of property investment and possibly your life—buy wholesale, not retail!