we have just gained 3 apartments in manchester with a view to selling them on upon completion (late june/ july). we got them with 15% gifted discount and very good value, with very good forcasted acheivable rent rates and anticipated 25% capital growth over nxt 12 months. however, the point is that we want to sell them on to raise our own capitol to make a living and use some of the profit to aquire more buy to let properties to the 4 we already have. has anybody any experience in this kind of area or are we stuck with having to go to estate agents? 2 bed appartments range from 110k to 115k with rent of £550-£600/ month. so for anybody that wants a buy to let property they represent an excellent propostion, but we just do not know how to dispose of them. can anybody offer any tips? thanks andy henton
General (main property discussion here) - selling investment properties?
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Andy, You could advertise them on this site, but bear in mind that other investors will probably not purchase at market value. If you manage to turn the properties prior to the completion date then you will not have incur the extra expenses involved completing. One thing to bear in mind is to check that all of the figures bear a resemblance to the current market, I have had experience where property and rental valuations provided to me by surveyors etc (prior to completion)just do not stack up to the real market place. If all of the figures add up there's no reason that you couldn't produce an attractive deal with a bit of creative thinking. Hope this helps. |
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