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Ebay Anectodal - "property Is Sluggish"

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http://cgi.ebay.co.uk/Property-Investment-...1QQcmdZViewItem

Fantastic residential investment – 7% annual return and 10% immediate cash

This is an amazing opportunity for investment in a time when they are few and far between.

SUMMARY

This property has undegone major rennovation ready for rental.

We are developers and so needa quick turnaround

This property is under offer at £70,000 to a residential buyer, however she is in a complicated chain.

We are willing to sell at £65,000 to an investor who has cleared funds and therefore can complete in 2-3 weeks (sorry, no mortgages). We are not interested in more, but simply speed.

The property has been valued at £75,000-78,000 by 3 local agents, but like the rest of the market things are sluggish now and so if you are an investor taking a 2-5 year view, this is a steal and will make you a lot of money

In addition, the planning permission for garages can also be a long term investment producing £500 per year rent each, they can be sold separately to investors or sold to the local residents.

The last property to sell in the street before this one was 2 years ago and is a mid terraced smaller than this that sold for £65,000. Since then the market has gone up and this property is the end terraced.

If you think you are the sort of buyer who can move on this deal, please email us your phone number now and we can discuss details. Please be quick as at the end of the auction if we have no firm deals, we will instruct our residential buyer to go ahead with her survey. Thanks

Below are all the details which explain why this I such a good investment and if it is so good, why I am selling it!

Purchase the property for £70,000 and easily earn a return on investment of 7% per annum, a rate which is always the aim, but very hard to achieve.

Also, planning permission is attached for a small project which will cost £2000 and make between £5,000 and £8,000 straight away (and you still own the property!)

Location

This property is in a very sought after area of Burnley. This road is well known to estate agents as standing out as a very marketable road and always in demand. It has good parking, local shops, post office, library all within 500 yards, as well as great transportation links to bus and motorways.

The property

An end terraced 2-bedroom property. This house has a beautiful brickwork.

Why such a good price?

Good question.

Firstly, the area is under valued to start with and consequently it is easier to find a property that will give 7% returns.

Secondly, I am making a profit as I have a very efficient team who refirhbish my properties at substantially less than it would normally cost.

Lastly, the bonus opportunity with the property is not attractive to the average buyer and so to an investor it has worth, but this is largely wasted if this is sold as a pure residential sale.

But what about this opportunity?

That is the best bit. The property has a piece of land to the left of it. This land has planning permission for two garages (currently one garage stands there).

Local agents and auctioneeers have valued garages at approximately £3000-£6000 each!

We have found one of many companies out there who will supply and construct a garage for £1000 a piece. This leaves a profit of £4000-10,000. This gives an immediate return in cash of 6-15%. Immediately recoup your deposit!

Refurbishment

An extensive 3 month program has taken place. This has included:-

Double glazing installation and new double glazed door units

Full Rewire, with supply of 5 year certificate

Installation of new Gas central heating

Full replastering

Full repainting and decoration

New Internal doors

New sockets and light fixtures

Full new kitchen

Full new 4 piece bathroom suite

New fixtures and fittings

External decoration

New carpet and tiling

What Might need doing in the future?

Like all slightly older properties, the roof is in the later years of its life. If you are taking a 5-10 year view on the property, budget £2500 for a overhaul at some stage

Damp - Like all terraced houses! A new damp course maybe some time in the next few years - maybe £1000 including replastering and decorating

Why are we telling you this? Simple, the price is the price and the house is the house. We want a quick deal to an investor who knows the score. No point hiding anything!

What about rental?

This area is very desirable for renters if you have the basic things they all look for – Double-glazing, clean look and good position. This property has all of these and a quick search for rental properties in the area will confirm the prices these are consistently achieving - £325-400 per month.

This will give a return per annum of an amazing 6-7%.

This sounds great – How do I buy it?

The property will be on ebay for this time only. If it is not sold, it will go to public auction shortly with the guide price suggested at £65,000 - £75,000, as per the local auctioneers who have valued it.

If you wish to purchase, you must lodge your solicitors’ details on acceptance of your offer. You must be in a position to complete within 28 days. We must be clear on this. If we feel that you are not going to be able to meet this schedule, we will not complete and return the property for auction. The whole reason new are selling is to get the money fast and so this is crucial. Cash buyers are welcome, but those that can get other forms of finance quickly will be considered.

Please email if you would like to make an offer – Starting bid is £70,000 and the first to convince me they are in a position to complete will get the house. I do not believe in gazupping - once I accept your offer, you have the house. Please email your phone number and email address if you wish to discuss further. If you would like to view we can arrange, but only after discussion when we can confirm you are in a position to complete.

Thank you and good luck

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Yeah, but it's Burnley ;)

P.S I'm allowed to slag it off as hubby is originally from an outlying village.

Edited for spelling

Edited by libitina

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Why buy this place now?

Wait a couple of years and pick it up for 30k.

I could be wrong, but I think the supertanker "housingmarket" has finally turned 180 degrees and is just waiting to pick up steam...

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Why buy this place now?

Wait a couple of years and pick it up for 30k.

Couple of years ago (literally) you'd have got it for even less than that.

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"The property will be on ebay for this time only. If it is not sold, it will go to public auction shortly with the guide price suggested at £65,000 - £75,000, as per the local auctioneers who have valued it"

so what about the lady in the complicated chain, she must be a figment of my imagination :o

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the local agents probably being PETTY and Co. a ghastly collection of post door to door sellers and purveyors of imported yorkshire stone and general mongerers.

burnley, although a beautiful place set in a valley of grabbing surrounding pendle village-ites. burnley and nelson is full of 'lads' who benign to stare at anyone - 'as if challenged to a brutish ordeal' by passing members of the public simply going about their daily business. its a place where local accent still includes the word 'sken' and not all of the spray paint is pre-1995. a greggs pie can be bought for 65p. in 2001 a terrace in burnley was 27k in a good area. 7k in a bad.

good points are a good 24 hour garage called kitchens. perky titted wkd fuelled teens who enjoy clubbing and dressing lavishly. 2 matalans. 4 lidls. aflex roadbuilders and althams travel services. though you have to stave off the local babbages with a book with large words in it. the only thing worse than renting in burnley is owning outright.

the local paper is at least a refreshing read, often concerning the whereabouts of a local fiend, a prolific house breaker or the unmasking of a serial sex pest in victorian crushed fingers road. rosegrove.

all along the calder valley are the sowed seeds of a broken landscape. mined, wined and firmly binded by the lax bath users of fence, knockbeth and lower sabden. home of the pendle witches. demdike. chattox and nick barnfield and their macarbe contructions of desire.

suicide is rife, but so are the burberry births.

clearly. i have a love hate relationship with burnley. its my spiritual home.

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We are willing to sell at £65,000 to an investor who has cleared funds and therefore can complete in 2-3 weeks (sorry, no mortgages). We are not interested What Might need doing in the future?

Like all slightly older properties, the roof is in the later years of its life. If you are taking a 5-10 year view on the property, budget £2500 for a overhaul at some stage

Damp - Like all terraced houses! A new damp course maybe some time in the next few years - maybe £1000 including replastering and decorating

Why are we telling you this? Simple, the price is the price and the house is the house. We want a quick deal to an investor who knows the score. No point hiding anything!

So they don't want you to have a mortgage - mainly perhaps because its quicker to go through without one but also cos a bank would want to send a surveyor round who might spot damp and the roof.

If it needs this work then the redec they've done is virtually worthless as damp coming in with ruin it and sorting it out with create need for redec to be done again.

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Why such a good price?

Good question.

Firstly, the area is under valued to start with and consequently it is easier to find a property that will give 7% returns.

Secondly, I am making a profit as I have a very efficient team who refirhbish my properties at substantially less than it would normally cost.

Lastly, the bonus opportunity with the property is not attractive to the average buyer and so to an investor it has worth, but this is largely wasted if this is sold as a pure residential sale.

But what about this opportunity?

That is the best bit. The property has a piece of land to the left of it. This land has planning permission for two garages (currently one garage stands there).

Local agents and auctioneeers have valued garages at approximately £3000-£6000 each!

We have found one of many companies out there who will supply and construct a garage for £1000 a piece. This leaves a profit of £4000-10,000. This gives an immediate return in cash of 6-15%. Immediately recoup your deposit!

The secret of Ebay selling is to provide a convincing argument as why it is being sold.

Not only as to why it should be bought.

Get the balance right and you get a sale.

Get is wrong, and you look like a desperate btl rat, fleeing the good ship HPC.

Crash! What Crash?! ... Yeah right! B)

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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