Im new can anyone help?

Maureen Peters · 03-02-2010, 10:36 PM

Hi everyone.
I am Maureen Peters and am very new to forums ( please be gentle)

My business partner and I are fairly new to property and managed to
do 2 no money down deals last year.

However we have come across a deal thet we do not know what to do with it, I will leave some of the info for you to have a look at and if anyone has some advice or ideas we would really appreciate it.

So here goes.........

Property details:

4 Bedroom house in North West London.
Market Value £330,000 (RICS not yet done)
Sale price £280,000
BMV = 16%
Outstanding mortgage £234,000
Arrears £9,000
Current repayments £2400 a month

Vendor wants to rent back, which I am not registered to do at present.
Have thought about lease options but do not have the experience plus the vendor wants to stay in the property.

Last year the vendor fell behind with the repayments as her husband was out of work for 5 months.
They are now both working and are making the repayments on the mortgage and extra towards the arrears.
She will also have to pay a £14,000 early redemption if she was to sell before April.

I have also considered negotiating with the vendor so that I can package the deal up to sell on but I am not confident with this.

Can anyone help?

Regards

Maureen Peters

Ronald Horsfall · 05-02-2010, 08:15 PM

Hello Maureen

Congratulations a big warm welcome to the Property Tycoons Forum.

On here you will find like minded people with varying levels of experience who will only be happy to reply to your posts and give you all the help and advice that you are looking for. We are a very friendly and helpful bunch and are very good at sharing information, advice and experiences.

If I can be of any help or assistance to you, then either PM me or contact me through one of my websites listed below.

Wishing you every future success in your property business.

Ron & Ann Horsfall
Ronan Property Services

Richard Martin · 06-02-2010, 06:48 AM

Dear Friend,
Welcome to the Property Tycoons Forum. I hope you find all the support you need on the forum to go on and build a successful property portfolio. I have personally been involved in property for a few years now and will do all I can to help you achieve what you are looking for, if I can’t help the forum is a great place for advice from like minded professionals.
We are currently in the process of expanding our marketing position across the UK; on top of this we are also re-developing our BMV property sourcing websites. These combined changes will put us in a stronger position to move forward and consistently generate fully qualified 25-30% BMV ready made deals.
We are expanding our mailing list of property investors who would like to join and receive updates of our latest ready made deals. If you would like to be added to the mailing list all you need to do is send me a blank email to deals@swiftmovepropertybuyers.biz

Kind Regards

Richard

Richard Martin
Company Director
Swift Move Property Buyers
Office: +44(0)1915 181669
Fax : +44(0)1915 181669
Mob: +44(0)7912 664738
Swift Move Property Buyers
email: deals@swiftmovepropertybuyers.biz
email: info@swiftmovepropertybuyers.com

Tycoon Forum Support · 08-02-2010, 01:02 PM

Hi Maureen,

Welcome to the Property Tycoons Community forum! If you are looking for the biggest and most successful community of property investors who find and buy bargain properties using little or none of their own money then you've definitely come to the right place

Before you get stuck in, I highly recommend checking out the following essential beginner guides and resources to help you make the most of our Property Tycoons community:

1. I have created a set of free members only training videos to show you how to find bargain properties. I created them all myself to teach our members how they can find bargain properties for very little and often no cost whatsoever. In other words you can use these videos to learn how to find bargain properties without spending a penny on advertising or marketing! These videos are extremely popular with our members and I'll be producing more of them to help you find and buy bargain properties using little or none of your own money.

To watch the videos go to http://www.property-system.com/aucti...s.php?catid=16. PLEASE NOTE - these video files are HUGE so they may take a few minutes to load up. I wanted to make sure I packed in everything you needed to know about finding and buying bargain properties using little or none of your own money so I didn't leave anything out

Oh and while you are in the free downloads section you may want to check out all the other documents, audios, videos and files we have created to help you make more money in property. The free downloads section can be found by going to http://www.property-system.com/aucti...ocal_links.php. This section of the forum contains dozens of free downloads you can use to make more money out of the property business with less risk. The audio sections for example contain several interviews I conducted with some of our most successful Property Tycoons community members (my personal favourites are "How To Buy 150 Properties In 2 Years" and "How To Buy A £165,000 House For £110,000 Using None Of Your Own Money"). We also add a monthly interview with our "Member of the Month" to the free downloads section each and every month. These are also very popular with our members and we have plenty more on the way to help you become more successful in the property business.

2. If you haven't already, check out this link Step 1 -> PLEASE START HERE. There you can watch videos on how to make the most of all the features we have made available for you here at the Property Tycoons forum.

3. Go to this section http://www.property-system.com/aucti...tin/usercp.php to set up your profile, upload your picture and customize the forum to suit you.

4. You can find a list of all our upcoming events and member birthdays here http://www.property-system.com/aucti...n/calendar.php at our calendar page.

5. To access the ready made deals section of the forum go to http://www.property-system.com/aucti...splay.php?f=76. This is where we post up our popular ready made deals for Tycoons members. To access all our property leads go to http://www.property-system.com/aucti...admin_main.php - this is where you can buy the contact details of potentially distressed sellers of properties in your area. The instruction manual for using the Property Tycoons Leads Trading system can be found here The Property Tycoons Leads Trading System User Manual

6. If you have any queries whatsoever you can contact our support department for help. Our "Tycoons Team" is responsible for this role. You can find them by going to www.tycoons-forum.com. Scroll down the page until you see the "Forum Feedback And Queries" section. Feel free to post any query or feedback for us in there.

I wish you the very best with your property business and continued success.

David_Duckworth · 09-02-2010, 01:07 PM

HI Maureen

Welcome to the forums. It's great place to learn about property investing from like minded people. If you have any questions, just ask we're a friendly bunch.

I specialise in sourcing below market value leads, both online and offline, and have just opened a finders site at Lead-Dealer.co.uk | Simply BMV Property Leads. If your thinking of leafleting or need any other printing just give me shout, as I have a printing company too, and have helped dozens of investors design and print their leaflet for maximum ROI.

Welcome to the best property forum on the net...

David Duckworth

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