Property Investment Liverpool - Invest Where There Is A Story For Superb Bargains
Monday 10th October 2022
Property Investment Liverpool
Invest Where There Is a Story To Get The Best Buy to Let Deals
It's not difficult to buy property below market value with high levels of income if you look in the right place and you know what you are doing. Always buy a story, not a property.
The present market is full of buy to let opportunities and reminds me of some years ago when we were picking up some great bargains in London and Liverpool.
At a property auction, we acquired a 2-bedroom property in Streatham Hill, London in March 2009 for £155,000. It needed a bit of work, but not much, and would sell today for about £420,000.
In 2012, we bought from a Manchester-based receiver, a newly converted freehold block of flats in a period building near Sefton Park in Liverpool for £180,000. Yes, that's not a typo. The developer went into liquidation and the receiver's job was to sell his assets. We still have it today and have no intention of selling it.
What's my point?
Now is the time to buy. Now is the time to build a sustainable long-term portfolio.
There are more and more below-market value opportunities if you know where to look and the best route presently is via auctions, not just based in Liverpool, but further afield. Liverpool properties often appear in property auctions in London, Manchester, Preston and Newcastle.
Properties come to auction for many reasons, some, because they cannot be sold by private treaty. They may have a missing freeholder, title issue or some other problem where auction is the best route to market. The trick is sorting the wheat from the chaff. That's where you make the money.
Auctions come with a lot of caveats, and you need to know what you are doing. But get it right, there is no better way of buying property and it's fully transparent, unlike sales through some estate agents.
Last week we bought a property at auction for an investment company client. I estimate it is 20% to 25% below market value and yields about 10% with a new revised rent, as it is under-rented. It has a fairly new roof, gas central heating and UVPC double glazing. It's in a prime rental area, 2 minutes from a school and public transport links to Liverpool City Centre.
These are the opportunities you should be seeking. Avoid private treaty sales (through estate agents) and buy through receivers, administrators and auctions to bag the best bargains.
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Property Investment Liverpool
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