Hurry ! It's going to go !!
One of our investment opportunities this week makes an interesting case study to tell you about
We are selling a 3 bedroom mid terraced house in Ince WN3.
It's had some improvements including a new heating system and Upvc double glazing, but would benefit from further general modernisation and upgrading...or so we thought !!
We launched the property at £60000 knowing this was a little optimistic but it is our job to get the very best price we can
Uptake from buyers was generally slow because this type of property can only really be sold to investors and not first time buyers because of mortgage restrictions
We reduced the property to offers over £45000. This was more like it ! We had six viewings and six offers, the highest after negotiations was £48000.
Then it was surveyed by a locally respected Chartered Valuation Surveyor who discovered there were several structural problems
After discussing these findings with the seller we have re-launched the property at offers over £30000 on a cash offers only basis.
So far we have conducted 38 viewings !!
We are closing bids early next week so hurry if you want to get involved in this investment opportunity.
We estimate expenditure of £30000 on demolishing and rebuilding the offending extension and refurbishing the property will give excellent future capital growth and a return of a gross yield of a very healthy 9%
I would welcome the opportunity to discuss other local investment opportunities with you in person and your requirements on the management and expansion of your property portfolio.
I hope you have enjoyed this blog as much as I have writing it
If you want to discuss any Sales or Lettings issues in our local property market just email on the Ask Alan section of our new website.
http://www.alanbatt.co.uk/about-alan-standish-estate-agents-wigan/ask-alan.html
Alan Batt MRICS
Chartered Valuation Surveyor
Best Price Specialist Estate Agent
01942 233 999
sales@alanbatt.co.uk
