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I've just had details of a joint venture offer from one of our lenders.
The lender is willing to keep his money in the project until completion with a joint venture partner finishing the build out.
This is a repossessed Regency house conversion to three flats on the English south coast.
To get full details you need to subscribe to our free "Early Bird" Repossessed Property Newsletter. You can subscribe via the form below.
As the old adage goes, "you make money when you buy, not when you sell". Our repossessed property sales newsletter is your source of some of the best investment and development property at forced sale prices you can get.
I mentioned in my last post on this subject that we are introducing a joint venture scheme for subscribers to the "Early Bird" newsletter. The idea is to help you join forces and combine skills or finances with like minded investors and developers.
Some of our lenders will soon be letting us have properties before they are repossessed. The intention is to find joint venture partners who can help to save faltering projects that just need a small injection of cash to complete them or that need some additional expertise. We'll feature these in the newsletter whenever they arise and it will be a simple case of calling me to register your interest.
In addition I've set up a group in Linkedin. This is specifically to enable subscribers to the "Early Bird" newsletter to interact with each other if they wish to search for joint venture partners. With the right JV partner projects currently out of your reach could become possible. Join it here.
Best Regards
Coming on the market next week and available only to our "Early Bird" Repossessed Property Sales Newsletter subscribers, a luxury repossessed new build house in Lincolnshire. Needs second fix electrics and some plumbing work to complete at an estimated cost of between £15,000 to £20,000.
Finished value of £275,000. We understand the lender will accept a deal close to £200,000. There's a bargain to be had if you negotiate hard enough.
If you want full details when they're released to us you need to subscribe to the newsletter. This and many other UK wide repossessed property sales are exclusive to our newsletter subscribers. Fill out the form below and make sure you don't miss any of the great deals offered.
If you are a regular reader you'll know that I'm a partner in the "Early Bird" Repossessed Property Newsletter. We're introducing our subscribers to some amazing repossessed property bargains. The lenders we deal with need to dispose of their repossessions quickly to preserve their cash flow. All the lenders are ready to negotiate on price and want to do deals.
We're now moving to the second phase of the newsletter's development, joint ventures. There are two reasons for this;
Because repossession is something that our lenders try hard to avoid we saw an opportunity to help the lenders' struggling clients avoid the total failure of their project. So the first purpose of our joint venture scheme is to offer our subscribers the opportunity to help to rescue projects and share substantially in the profits. This could involve injecting some cash, providing much needed expertise to an inexperienced developer or any other way that could turn a failing development into a success.
I've set up a joint venture group on Linkedin for subscribers to "Early Bird". You can join the group if you're a subscriber to the newsletter. You can subscribe below. The next edition of the newsletter will tell you how to join the group.
A consequence of the current state of the housing market is an increase in the number of repossessions. In the property investment and property development markets we are also seeing a similar increase.
It's important for the market that these properties are sold quickly by the lenders and development projects put into the hands of developers who can complete them. Jobs depend on this. When projects stall, building workers are laid off, builders merchants lose orders and the local economy suffers. The "Early Bird" Repossessed Property News Letter is your opportunity to buy properties and building developments at well below market value by negotiating directly with the lenders disposing of the properties. Follow the link above to find out more or complete the form below to subscribe immediately.
Here's an exceptional example;
We have just had released to us a development opportunity with full planning consent for 15 dwellings. Valued at £720,000 (price negotiable) there is a guaranteed exit with an offer on the table of £1.8 million.
You can gain access to further details of this and other repossessions by subscribing free to the "Early Bird" Newsletter.
With so much mortgage and banking gloom around I thought I'd try to focus on something a bit more positive today. As we've seen some good British performances in the Olympics I tried to find something light hearted and connected to British sporting achievement.
In celebration of Nicole Cooke's cycling gold, Emma Pooley's silver and Mark Cavendish's stage successes in the recent Tour de France I found this cycling related video from the 1970's. I hope you enjoy it - nothing can dampen the British spirit.
Saturday's Guardian "Boardroom" column raised an interesting point or two about UK banks under the heading " 'Curious' bank balance sheet: profits lost, £13bn; bosses' jobs lost, zero"
It seems to be a peculiarity of the British Boardroom that failing chief executives don't lose their jobs.
Heads are rolling in the American banking world but after receiving massive performance related bonuses during the good times British bank chiefs appear to be untouchable when they make a complete dog's breakfast of things.
To lighten the mood I thought you might like to see and hear some good news courtesy of another property blog. Click on the video link when you get to Nick Tadd's blog here.
See You Soon
I sent the following email to Housing Minister, Caroline Flint .
Dear Ms Flint,
I'd like to make a suggestion that could stop the current uncertainty
about stamp duty turning into another round of accusations that the
government is dithering. It will also take away any need for people to
hold off buying property until a decision is made and prevent more
damage to the beleaguered housing market.
Simply announce that when a decision is made whether or not to defer,
discount or to keep things as they are, it will be backdated. Therefore
any over payment of stamp duty from now until the time of the decision
will be rebated. This will take away any uncertainty and remove the
perceived need to delay any property purchase.
Best Regards
Mike Bell
Do you look back with nostalgia at the good old days of local bank branches? They had managers you could actually meet and talk to, and cashiers who smiled and didn't ask if they could quote for every type of insurance or investment product imaginable to mankind.
Here's a reminder of the lost human face of banking. It shows how a bank manager of 40 years ago dealt with a bank raid in a way that only the British banker of yesteryear could.
In these challenging times it's easy for us to start feeling sorry for ourselves. I know I certainly do from time to time. This is the most frustrating time I've ever had as a commercial finance broker, plenty of enquiries but very few suitable solutions to clients' particular problems.
So I'm listening to radio 4 in my car on my way to pick up my Sunday papers and there's a piece about Randy Pausch, a professor at Carnegie Mellon University in Pittsburgh. I have to admit that until tonight I hadn't heard of him. He died on the 25th. July from cancer at the age of 47.
The programme mentioned a remarkable final lecture he delivered on September 18th. last year when he knew that his cancer was incurable and he had just months to live. It's the most uplifting thing I've experienced in years and it certainly puts the problems we are experiencing in our businesses into perspective. By the way it's not a morbid video in any way it's full of this remarkable man's joy for life and, of course, very moving. I hope you find it as inspiring as I have.
