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chim diwan

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About chim diwan

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  1. Hi Alja I am by no means an expert on this but what you say is exactly what I found. As I say it's a few pounds a year, so very inexpensive. But really depends who owns the charge and what they want to sell it for. As you said if it's the council that own it it's very simple to solve. However if you are unable to find the owner, then it becomes an issue. Chim
  2. Hi Steve, I didn't buy the property in the end. I would like to say that the property that I was looking at was for sale at auction. As part of my Due diligence I had a lawyer look into the property. They found the rent charge attached to the property, but couldn't find who the rent owner was. The property, maybe was not part of any scam, but I was unwilling to take the chance. That's what I would like to say, just because there is a scam to do with this subject, it doesnt mean that your property is a part of it. In theory it is very not very difficult to get out of the rent c
  3. Hi Everyone, I bought 5 properties on Lease Options about a year ago. I want to exercise the right to buy on one of them to start with, as it has quite a bit of equity in it. We were told that the fee we paid to buy the options could be used as a deposit to purchase the properties. So, now we are ready to get on with the purchase of the properties, we would like to know the process. I realise that the first step is to notify the owners of our intention to exercise the option to buy. Do I need to do this through a Lawyer? We also need to get a company mortgage for the property.
  4. Looking for anyone that has creatively sourced properties in Liverpool. Seller Finance, BMV, BTL, Lease Options Etc. Contact me at chim@internationalpropertybrokers.com Thanks Chim Diwan
  5. Is there anyone interested in Seller-Financed property or overseas property used as serviced property? I have a huge amount of these properties that I want to sell. contact me if you' re interested. Chim
  6. Yes .. just researching the area, and seeing what other agents think properties are doing there, then will decide.
  7. Hi Lucy, If you have a look at some of the estate agents web sites and Rightmove and Zoopla, you can see which properties have been converted to HMOs/Multi lets. I found that there were far too many Student Multi lets in Liverpool in general. But with the shortage of housing in certain areas, you can still find that a multi let for professionals will work. The Robs did a podcast on HMOs, suggesting that they were something that was needed in the market due to high rents, shortages of property etc. An area you may want to look at is Speke. It's a very industrialised ar
  8. Hi Darren, I think it was the size of the property and the really good cash flow that made me want this property without thinking too much about the price. The more I think about it the less appealing it is. Chim
  9. That is very true. Easy to forget sometimes. Will evaluate the property again before making any silly offers. Thanks for the advice Chim
  10. Hi Martin, Thanks for your response. I have done a bit of research, the rents are around the £650 mark, depending on the quality of finish of the property. I was thinking as it is a 4 bed, 2 reception house, it may be worth buying it, renting it out as a single let and then in time convert to a HMO. Will keep you posted as to what happens. Chim
  11. Hi James, It was marketed at £95k but someone has put an offer in at £104k. At £95k it Worked, financially, but at £105K+ it takes it above market value, only slightly, but still above where we want to be. The question was really that as Manchester is booming right now, would it be an idea to take the plunge and buy the property even at the elevated price and sit on a great cash flowing property, waiting for it to appreciate? Chim
  12. Hi Greg, Thanks for getting back. Sounds great for cash flow, but I do think you need a mixture of both Cash flow and Capital appreciation. I will do a little more research on St. Helens and may do something there in the near future. Will keep you in mind. Chim
  13. Hi Everyone, I was very interested in an auction property in Salford. I got the legal pack from the agent and arranged for a solicitor to go through it. The next day the solicitor told me that everything was fine with the property except for their being a rent charge on the property. I had no idea what he was talking about. He explained that the rent charge was a remnant of an agreement between Landowners and property developers from hundreds of years ago. Just like we have ground rent on leasehold property, a rent charge was a charge that the land owner put on any property
  14. Hi Everyone, Looking for some advice. I have just returned from a couple of days viewing property in Manchester. I am totally new to investing and to Manchester. I found a property in a town in East Manchester called Openshaw. It is a large 4-bed property on the market for £104k. It needs a bit of work, I guess, but nothing major. The rent that can be achieved on this, according to the agent is between £650- 750 per month, depending on the refurb. The Done UP Value of the property is only £115K. So once the property is refurbished I will have paid more money than the property is c
  15. Hi Everyone, Looking for some advice. I have just returned from a couple of days viewing property in Manchester. I am totally new to investing and to Manchester. I found a property in a town in East Manchester called Openshaw. It is a large 4-bed property on the market for £104k. It needs a bit of work, I guess, but nothing major. The rent that can be achieved on this, according to the agent is between £650- 750 per month, depending on the refurb. The Done UP Value of the property is only £115K. So once the property is refurbished I will have paid more money than the property is c
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