We held another fantastic Tycoon Mastermind Alliance clinic call this month. Here is a shortlist of some of the questions that we covered:
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Could you talk us through a Back to Back/ Flip Sale and the circumstances under which you would use one.
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I would like to know what additional due diligence should be taken on the deal below (i.e. outsied of the usual online valuation, talking to Estate Agents, etc).
Opportunity to own a lease of 5 flats and 1 commercial unit direct from Sunderland council.
Purchase Price£75,000
Lease Value £100,000
Rent achievable £35,824pa
Cost £15,280pa
Cashflow £20,544pa
Opportunity to own a lease of 5 flats and 1 commercial unit direct from Sunderland council.
Take over ownership of a of 5, 10 or 15 year lease.
The properties are All currently tenanted yielding £35,824pa, potential to increase in line with current LHA rates.
You pay the council £15,280pa plus an additional £50pa which covers the service charge, ground rent property maintenance and building insurance.
Each flat is a 2 bedroom self contained unit and the commercial unit is currently operating as a Tanning Salon rented under a 3 year contract.
There are no business rates charged as these units are direct from the council.
Copies of lease and tenancies along with pictures available.
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What’s the process required to move opportunities that you’ve reached agreement in principle with a vendor, through to being able to market them as “packaged deals” whether they are possible BMV or Option type opportunities? How long should it take to get them to the “packaged deal” stage from initial agreement in principle?
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How and under what circumstances would you use a bridging company?
Enjoy the audio!
Please note: This audio is a small sample of the Tycoon Mastermind Alliance Property Clinic Teleconference. TMA members can download the full recording from here. If you are not a member Tycoon Mastermind Alliance of the Property Tycoons Community you can learn about the huge range of benefits here.
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