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Tuesday, February 23, 2010

BMV property - I've spotted a property bargain!

I've spotted a property bargain. A massive 2 bed victorian conversion apartment that estate agents love to call a penthouse. It's potentially got 3 beds if the space is reconfigured. It sold in 2007 for £160,000. It being marketed at just under £90k. I'm aiming to get it for £80k exactly 50% its recent sale price and probably a good £25k below its real value after refurbishment.

So why are you telling me this?

I'm minded of all those middle men who spend a huge amount of effort telling landlords what a great investment this investment is and it is 30% below market value (BMV). My answer is why? If it's such a great deal why aren't you buying this residential investment for your own residential property portfolio.

Want to know more about my property bargain?

This ones mine all mine! You can sod off!

Why would I want to tell you about such a great deal...

What it does indicate is that there are some property bargains out there.

My advice to landlords is - get searching.......for yourself.

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