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Posted 24-09-2010 at 12:31 PM by Ramnik Singh
Hi All,
As the title says, this is my first ever blog so here goes...!
As I see no real capital growth for the next 0-3 years, I ask myself, why buy at discounted levels now and hold onto property and get the grief that sometimes comes with owning property ie maintenance, voids, tenants etc!
Buy again in 2-3 years time with the view to hold I tell myself. In the meantime, buy discounted property, add some value and sell.
So I am presently deploying a BTS (buy to sell) strategy.
Me and one of my JV partners bought one in Croydon in July. It has now been fully refurbished and is now on the open market for £160k. We were lucky and purchased it for 90k.
I have a number of other transactions going through so lets see how they transpire.
Till later.
As the title says, this is my first ever blog so here goes...!
As I see no real capital growth for the next 0-3 years, I ask myself, why buy at discounted levels now and hold onto property and get the grief that sometimes comes with owning property ie maintenance, voids, tenants etc!
Buy again in 2-3 years time with the view to hold I tell myself. In the meantime, buy discounted property, add some value and sell.
So I am presently deploying a BTS (buy to sell) strategy.
Me and one of my JV partners bought one in Croydon in July. It has now been fully refurbished and is now on the open market for £160k. We were lucky and purchased it for 90k.
I have a number of other transactions going through so lets see how they transpire.
Till later.
Total Comments 1
Comments
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Hi All -
The property above (Croydon) sold for 140k so a decent profit was made. It took a little longer to sell but I guess that comes with the territory!
I am continuing on in the same vain ie buy to sell. I personally do not wish to hold on to anymore new acquistions so I am still undertaking the same strategy I mentioned in my first blog.
The auction exit route still resonates highly with me. I have one going to auction next Thurday so lets see what happens there! I seemed to have had good early interest so fingers crossed for a decent hammer price.
Infact I have not "purchased" this property and I have just given a 7k option fee. So not a huge outlay for me but I hope to get a good return on my 7k.
A few other deals going through and a local deal (NN postcode) cracked today. The market is being kind to me so I hope it continues in 2012.
Till later, bye for now.Posted 07-12-2011 at 07:36 PM by Ramnik Singh
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