For those with some expertise in creating something out of
nothing this could be a great project. A bit unclear whether it still needs
excavating, but one thing is certain; the end product is to be a desirable
studio flat in “Emerging Outer Prime” Streatham Hill.
Studio flats on these roads should fetch in the region of £215,000
to £230,000. So with a potential resale of £215,000 plus a guide of £30,000
plus some legals and building work makes for a handy profit of £150,000plus.
Unless of course the bidding goes crazy….
But, will planning permission be granted? There have been
objections in the past on the road by the looks of things, so perhaps the
vendor was wiser to await the decision before throwing this one under the
Interesting for the right buyer with the right experience to
see it through.
So, if you're in the market for a good opportunity to develop
something from nothing then have a look at this one.
As my colleague investor discovered when a portfolio he purchased (literally just a week before this all kicked off), statutory periodic tenancies allow a month’s notice from the tenants’ side, so basically it’s left him with a load of empty rooms which he can’t view during the notice period, and likely voids after this lockdown we find ourselves in.
You may need to refer to my previous video slamming periodic tenancies; personally I would never allow a tenant to go periodic because I want to retain control of when my properties might come back to the market. After all, I want the best returns. I want the easiest life, so I choose to let my properties during the peak (in terms of demand and hence price) of the year.
So what happened In this instance? A lot of these properties were let on a multi-let (room-by-room) basis, and as it happened they were initially let on a fixed term which had since expired, so they were are “holding over” on a mo…
I hope you enjoy my content. If you are looking to dive in to the wonderful world of property investing then do reach out to me via emailor get in touch via my social media channels. I offer coaching, mentoring and more so be sure to check out my website www.jeroenhoppe.comfor more information on what I can do to help you.
Wow, just wow. That’s the feeling I have at the moment. The world, not just the UK, has been taken by storm. Such incredible, drastic measures have never been seen before, with everywhere I look trade has been affected. Restaurants, bars, places of worship; everything has been forced to close and people are banished to their homes en masse. It’s for good reason that I’ve not spoken out as yet, I’m still taking it all in - and the letting landscape is changing on an hourly basis!
What does this mean for you as a landlord?
Financial - Well, for starters your tenants’ employment may be affected. Do they still have a job? Will they be able to pay their rent? I for one have sent out my sympathy to all tenants and asked to reach out in confidence if they have been affected, this to preempt any cash flow issues when mortgages need to be paid. To further preempt I have asked all my mortgage lenders for a payment holiday just in case I will need it further down the line, this to buffer my cash …