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273: Top tips for purchasing flats - to make serious money!


06-27-2009

PropertyInvesting.net team 

For all those investors that plan to buy city flats-apartments, we enclose a simple check list that can be used when viewing property, plus other key considerations to help you purchase the best flat, in the best area at the best time:

A.  Criteria for Flat Purchase

B.  Positive Change

C.  Motivated Seller

D.  Timing

E.  Low-Ball Offers 

A. Criteria for Flat Purchase:  See below, the more ticks the better.  You can insert these criteria into an Excel spreadsheet for multiple viewings – so you can keep a good record prior to putting in offers. Some of the key considerations for buying a flat, particularly if for buy-to-let purposes, are the proximity to tube and/or rail station. Tenants don’t want to walk any more than 4 minutes – preferably 1 minute. This is partly because they don’t like dark streets (security) and partly because they don’t like walking – they’d rather be enjoying themselves – busy with friends. So don’t kid yourself that it will be easy renting a property where the tenant would have to walk 10 mins through dark streets to get to the tube/rail – we say this out of previous experience. If the flat is clean, has reasonable sized rooms, is secure and only a few minutes walk to the rail or tube with good communications to the City/West End – you will find it very easy to let out. Re-sale will also be easier.

Tenants and private purchasers tend to prefer well decorated period property. One bedroom Victorian flats with high ceilings and spacious proportions are always popular. Ideally, the flat should be on a quiet street, but no more than one minutes well lit walk to a main street and thence only a few minutes walk to a tube and/or rail stations. Okay, these flats are more difficult to find, but it will be easier to let out if you find one – at a good price of course.

·         Total area,  number of bedrooms

·         Separate living room

·         Separate kitchen

·         Separate bedroom

·         Separate bathroom

·         Separate WC

·         Garage

·         Off street parking

·         Balcony

·         Period features

·         Potential for loft of basement conversion

·         Storage

·         Access to own or communal garden

·         Patio or roof terrace

·         Views

·         Double glazing

·         Quite street (y/n)

·         Private housing (or council tenanted)

·         Recent gas boiler installation

·         Decorative order

·         White goods included

·         Carpets-curtains included

·         First floor (easy access)

·         Tube within 2-7 mins walk

·         Rail within 2-7 mins walk

·         Proximity of West End (leisure/wealth)

·         Proximity to City (jobs)

·         Regenerating – improving area

·         New jobs

·         Rental demand from public sector

·         Robust against Peak Oil *

·         Price

·         % reduction to normal market value

·         Star quality

·         Overall impression-feeling-rating

* In areas close to electric trains, close to jobs, close to amenities in non oil intensive cities with positive exposure to high oil prices (e.g. central London, Aberdeen) – all fast commuting towns to London with good electric services (e.g. Woking).

B.  Positive Change: It’s also important to purchase property in an improving location. This could be a poor or a wealthy area, or a poor area within a wealthy area. But its important that positive change is occurring. Examples of positive change to an area are:

·         Olympics – Stratford-Lower Leas Valley (and Weymouth)

·         New High Speed Rail Services – St Pancras, Stratford, Ebbsfleet-Gravesend, Ashford, Folkestone

·         New Jobs – Canary Wharf, Stratford, City, West End, Chiswick

·         New Rail Line – East London Line to Croydon-New Cross-Shoreditch-Hackney

·         Regeneration project – Stratford, Canning Town, Shoreditch area, Bow, Chiswick Business Park, Battersea Power Station, Nine Elms US Embassy, Wembley, Peckham - East Dulwich, White City Retail Park, Bradford City Centre, Corby, Brentford, Elephant&Castle, Ramsgate, Folkestone

C. Motivated Seller:  If you can purchase a property that has a highly motivated seller – then even better. You should target achieving a purchase price of about 15% below normal market value. This can be done by purchasing property that is:

Repossessed – some estate agents act for banks to sell these distressed properties – if the property is superficially in bad décor and messy, all the better – you will find a better chance of getting a bargain and being able to do a quick fix to improve and add value

Auctioned – most property sold at auction would sell for 15 to 20% below normal market value – however, you will need to have financing in place, be able to complete in a short period and it is risky for the not so experienced investor.  If you find out there is a problem after bidding and your bank refuses to lend money on the property, you will end up losing your deposit unless you pay cash.

Motivated Seller – find a seller that has to move because of divorce, ill health, loss of job, financial difficulty, other issue, new jobs. You will be helping by offering a quick deal – be honest, help but always remember – you are the one with the money, and you can walk any time. Try and secure a deal with 15-20% below normal market value. This will be far easier if you are flush with cash, have a lot of experience, can demonstrate a track record to the seller and estate agent (e.g. you are not a time waster). You can put a sequence of low ball offers in to vendors over a period of a few weeks – the first one that accepts, you can then close on the deal.   

D.  Timing – we find the market is cool from mid October to mid January and August. The quietest time is just before Christmas. This is when you will find the most motivated sellers and the least motivated buyers. Reason – the sellers want to secure a deal so they can relax at Christmas – not have to worry. The buyers are all busy finishing work before Christmas starts, going to office and other parties and functions, and doing Christmas showing. Furthermore, it is dark, cold, windy, rainy, you cannot see property very well and time is limited. This is when the best property investors are out in force – a perfect quiet period with no competition around. You should be able to secure an addition 8-10% reduction in the period mid November to 20th December each year! We say this for some excellent experiences we have had. So plan to low-ball end November to mid December and you might get a pleasant surprise and early Christmas present. Get you woolly had, raincoat and gloves on. Be prepared to see the property in the dark and make a call. Don’t wait for the nice weather – prices will be higher!

E.  Low Ball Offers – The key final stage is to put in low ball offers. Do not be scared to put in a very low offer. They can only say no! You will get used to it. Rejection does not normally feel good - but rejection in this case is NOt negative - the more no’s you get the better. Eventually you will get a yes. Review a thousand properties on the website. Then visit 30. Try and find ten properties you want to buy. Then put in sequentially low-ball offers of -20% below asking price for the ten properties – spaced over two days. If they all say no, go back then offer again, this time -17% below asking prices sequentially. If they all say no again, consider starting over again, or take the top property and offering -15% (a final offer). If you use this process you will always achieve at least -15% below asking price to start with. And if you find a bargain in the first place at a quiet time, it could be you buy at -25% below normal good season market conditions!   

Serious Money Opportunities:  The key to unlocking huge potential profits is to purchase a property using the criteria mentioned in A, in areas mentioned in B, using the methodology described in C, timing outlined in D, and low-ball offer methodology outlined in E.

A combination of A+B+C+D+E =  serious money!  

And that’s what we want all our visitors to achieve.  We’ve tried to keep this Special Report as short and simple as possible. If you can think all these criteria and aspects through then fine tune your own strategy, you will be purchasing below market value property in high rental-resale demand areas, in improving areas with the maximum chance of property prices rising in years to come. The more you think and the more you try – the better the deal will become.

If you would like a copy of the excel sheet we use to purchase property, please email us on enquiries@propertyinvesting.net . We hope this special report helps you purchasing the best flats in the best place.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Property Investors - Celebrity Investors - High Net Worth Indivduals 

Now for all the property investor that would like some light relief, enclose below, by popular request, are some of the most wealthy and successful property investors on the plant. It is understood that 80% of the wealth of these individuals is put into property investment, mainly in the USA.

Commonly known amongst the rich and famous is the fact that the most tax efficient method of avoiding paying sky high taxes is to invest in property. We challenge you to consider one wealthy celebrity that does not invest either directly or indirectly in property.

Do these people look as if they give their money to the tax man?

Enjoy.... 

Adriana Lima

Adriana Lima

 

 

 

 

 

 

 

 

 

 

 

 

Sir Alan Sugar

Sir Alan Sugar

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Akshay Kumar

Akshay Kumar Bollywood

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Alessandra Ambrosio

Alessandra Ambrosio

 

 

 

 

 

 

 

 

 

Amy and Morgan Hurst

Amy and Morgan Hurst

 

 

 

 

 

 

 

 

Angelina Jolie

Angelina Jolie

 

 

 

 

 

 

 

 

 

 

 

 

Anne Hathaway

Anne Hathaway

 

 

 

 

 

 

 

 

 

 

 

 

Annabelle May

Annabelle May

 

 

 

 

 

 

 

 

 

Arnold Schwarzenegger

Arnold Schwarzenegger Cannes Folies Bergere 1977

 

 

 

 

 

 

 

 

 

 

Avengers

Avengers

 

 

 

 

 

 

 

 

 

Barack Obama

Barack Obama

 

 

 

 

 

 

 

 

 

 

 

 

 

Barbara Nowell, Lianna Nolan, Mary Purcell, Kathleen Purcell Barbara Nowell Lianna Nolan Mary Purcell Kathleen Purcell Photo TOBY GLANVILLE

 

 

 

 

 

 

 

 

 

Barbara Hulanick Biba

Barbara Hulanick Biba

 

 

 

 

 

 

 

 

 

 

 

 

 

Bridget Bardot

Bridget Bardot in France in 1973

 

 

 

 

 

 

 

 

 

 

 

 

 

David and Victoria Beckham

David and Victoria Beckham

 

 

 

 

 

 

 

 

 

 

 

 

 

Unknown lady exiting Bentley

Bentley rich lady

 

 

 

 

 

 

 

 

Beyonce Knowles

Beyonce Knowles

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mr Berlousconi and Mr Sarkozy

Mr Berlousconi and Mr Sarkozy

 

 

 

 

 

 

 

 

Unknown lady attending Ball in London

Ball Dress London

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ballet Nouveau - France

Ballet Nouveau

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beautiful Lady Having a Pedicure in London

Beautiful Lady in Cafe

 

 

 

 

 

 

 

 

 

Bill Gates

Bill Gates

 

 

 

 

 

 

 

 

 

 

 

 

 

Billionaire Chinese Ladies

Billionaire Chinese Ladies

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Bill Gates and Warren Buffet - at fund raising event

Bill Gates and Warren Buffet

 

 

 

 

 

 

 

 

 

 

 

Billionaire Club

Billionaire Club

 

 

 

 

 

 

 

 

 

 

 

 

Black Rock, Lord and Lady Lloyd-Webber and Simon Cowell

Black Rock Lord and Lady Lloyd-Webber

 

 

 

 

 

 

 

 

 

Billionaire Businessman

Billionaire

 

 

 

 

 

 

 

 

 

 

George Bush - "US Thanksgiving"

George Bush Thanksgiving

 

 

 

 

 

 

 

 

 

 

 

Britney Spears

Britney Spears

 

 

 

 

 

 

 

 

 

 

 

 

Blur

Blur Universal Clockwork Orange London

 

 

 

 

 

Boris Johnson

Boris Johnson

 

 

 

 

 

Bob Crow

Bob Crow

 

 

 

 

 

 

 

 

 

Brian Eno

Brian Eno

 

 

 

 

 

 

 

 

 

Bollywood Actress

Bollywood Actress

 

 

 

 

 

 

 

 

 

 

Bridget Bardot

Bridget Bardot

 

 

 

 

 

 

 

 

 

 

 

 

Brad Pitt

Brad Pitt

 

 

 

 

 

 

 

 

 

 

 

 

 

Brad Pitt

Brad Pitt

 

 

 

 

 

 

 

 

 

 

Brad Evans

Brad Evans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Richard Branson

Richard Branson

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Brinda Parekh

Brinda Parekh

 

 

 

 

 

 

 

 

 

 

 

 

Amanda Holden

Britains Got Talent Amanda Holden

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Britney Spears

Britney Spears

 

 

 

 

 

 

 

 

Boris Johnson and John Biggs

boris-johnson-biggs-clash-london

 

 

 

 

 

 

 

 

Britney and Obama

Britney and Obama

 

 

 

 

 

 

 

 

 

 

Brittney Lewis

Brittney Lewis

 

 

 

 

 

 

 

 

 

 

 

Britney Spears

Britney Spears

 

 

 

 

 

 

 

 

 

 

Bruno  - Sacha Baron Cohen

Bruno  - Sacha Baron Cohen

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three beautiful young people

three beautiful young people

 

 

 

 

 

 

 

 

 

Buy-to-let Landlord - reviews press

Buy-to-let Landlord

 

 

 

 

 

 

 

 

 

Calvin Klein Radnor

Calvin Klein Radnor

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Calvin Klein swimwear

Calvin Klein swimwear

 

 

 

 

 

 

 

 

 

Eva Mendes

Eva Mendes

 

 

 

 

 

 

 

 

 

 

 

 

Calvin KleinCalvin-Klein-Tuxedo

 

 

 

 

 

 

 

 

 

 

Cameron Diaz

Cameron Diaz

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Britney Spears

Britney Spears

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

James Bond

James Bond

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Robert De Niro

Robert De Niro

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Orlando Bloom

Orlando Bloom

 

 

 

 

 

 

 

 

 

 

 

Adam Lambertadam-lambert-american-idol-hollywood-2009-season-8-simon-cowell

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Aishwarya Rai

Aishwarya Rai

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Brad Pitt

Brad Pitt

 

 

 

 

 

 

 

 

 

 

 

 

 

David Beckham

David Beckham

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Zac Effron and Vanessa

Zac Effron Vanessa High School Musical

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Eva Mendes

Eva Mendes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Emma de Caunes

Emma de Caunes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Kiera Knightly as Elizabeth Swann

Elizabeth Swann

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Harrison Ford

Harrison Ford

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Kate Bosworth

Kate Bosworth

 

 

 

 

 

 

 

 

 

 

 

 

 

Kate Moss

Kate Moss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Hilary Duff

Hilary Duff

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Emma Watson

Emma Watson

 

 

 

 

 

 

 

 

 

 

 

 

Zac Effron

Zac Effron 17 again

 

 

 

 

 

 

 

 

 

 

 

 

Gisele

Gisele

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Melvyn Bragg

Melvyn Bragg

 

 

 

 

 

 

 

 

Lauren Budd

Lauren Budd

 

 

 

 

 

 

 

 

 

 

 

 

 

Julie Orden

Julie Orden

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Justin Timberlake

Justin Timberlake

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Justin Bartha

Justin Bartha

 

 

 

 

 

 

 

 

 

 

 

 

Michael Douglas

Michael Douglas as Gordon Gekko

 

 

 

 

 

Daniel Craig

Daniel Craig as James Bond

 

 

 

 

 

 

 

 

 

 

 

Hilary Duff

Hilary Duff

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Jo Pirelli

Jo Pirelli

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Jeremy Irons

Jeremy Irons

 

 

 

 

 

 

 

 

 

 

 

Josh Hartnett

Josh Hartnett

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Johnny Depp

Johnny Depp

 

 

 

 

 

 

 

 

 

 

 

Johnny Depp

Johnny Depp

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Kris Allen

Kris Allen

 

 

 

 

 

 

 

 

 

 

 

Katarina Marie Moranna

Katarina Marie Moranna

 

 

 

 

 

 

 

 

 

 

 

 

 

Karl Lagerfeld

Karl Lagerfeld

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Katrina Kaif

Katrina Kaif

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Katy Perry

Katy Perry

 

 

 

 

 

 

 

 

 

 

 

Katie Price

Katie Price

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Katherine Jenkins

Katherine Jenkins

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Kelly Brook

Kelly Brook

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Katy Holmes

Katy Holmes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Katy Perry

Katy Perry

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Kristin Chenoweth

Kristin Chenoweth in talks for The Pirates of Penzance!

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Kelly MacDonald

Kelly MacDonald

 

 

 

 

 

 

 

 

 

 

 

Kelly Clarkson

Kelly Clarkson

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Kris Allen

Kris Allen

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

David Guetta

David Guetta

 

 

 

 

 

 

 

 

 

 

 

 

David Beckham Emporio Armani Victoria Beckham

David Beckham Emporio Armani Victoria Beckham

 

 

 

 

 

 

 

 

 

 

 

 

Montell Douglas

Montell Douglas

 

 

 

 

 

 

 

 

 

 

 

 

Lady Gaga

Lady Gaga

 

 

 

 

 

 

 

 

 

 

 

 

Lance Armstrong

Lance Armstrong

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Lance Armstrong

Lance Armstrong - its not about the bike

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Lindsay Lohan

Lindsay Lohan

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Lily Cole at University of Cambridge

Lily Cole at University of Cambridge

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Lily Cole

Lily Cole

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Andriana Lima

Andriana Lima

 

 

 

 

 

 

 

 

 

 

 

 

Liz Hurley

Liz Hurley

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Lily Cole

Lily Cole

 

 

 

 

 

 

 

 

 

 

 

 

Lizzie McGuire

Lizzie McGuire

 

 

 

 

 

 

 

 

 

Liya Kebede

Liya Kebede

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Malaika Arora Khan

Malaika Arora Khan

 

 

 

 

 

 

 

 

 

 

 

 

 

Christiana Ronaldo Christiana Ronaldo Man United FC

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reese Witherspoon

Reese Witherspoon

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Salma Hayeck

Salma Hayeck

 

 

 

 

 

 

 

 

 

 

 

 

Sam Taylor and Tracy Emin

Sam Taylor and Tracy Emin

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Scabbia

Scabbia

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Carla Bruni and Mr Sarkozy

Sarkozy Carla Bruni

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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