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CP Mitchell

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    Liverpool, UK
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  1. Hi Thomas, Hope you're keeping well, indeed it's still a busy market here despite reports of a slowdown elsewhere. Opportunities for flips do arise but with the volume of interest it does help to be on the ground, in a position to move fast as a cash buyer and if your not direct to vendor having done prior business with an agent can give you an edge if they need to get a deal done. Unsold auction lots can be worth filtering through as well, particularly the out of town auctions. Drop me a line and I can update you on a few BRR/potential flip opportunities I've been looking at this week.
  2. Hi Dan, I was away at the the end of May and just spotted your post now. Hope your excursion went well. Not sure if you made it to the Tap this month? There was a couple of visitors passing though with different experiences so would be interesting to hear how you got on if you made it up. Single let's with a light refurb would be a lower risk entry route while you build up your knowledge and contacts in the area but you'll most likely need a 3-4 bed providing multiple occupancy to achieve your target rental returns. If you still need some pointers drop me a line as there's some opportunities that have come in while I was away that might be of interest. All the best, CP
  3. Hi Dan, Great to hear you may be able to make it next month. Sounds like you're fairly clear on your target market with income being your highest priority which is a great start. Was there a target income or minimum yield you're aiming for or just a one-off purchase for now and did you have a particular preference for any type of property; singles let apartments, multiple occupancies, starter homes for young couples etc ... Would be useful to know to provide some pointers. All the best, CP
  4. Hi SEM, Congrats on the wee addition, it's a tricky balancing act getting away for viewings when they're that young, never mind getting time in to do research. If you listen to Chris from Ayrshire on the recent podcast episode 'The Journey: Part 2' he calls out some of the challenges of being a distance investor where even in his own hometown he notes you'll have two properties in streets next to each other, one can be a great buy while the other the exact opposite. Liverpool is no exception to this whereby you can have completely opposite demographics in parallel streets. It was just for Adam's awareness that in the areas he was interested in there are streets that may not generate demand from working tenants and to flag this so as not to be disappointed if there was only interest from the DSS market. If you’re unclear as to demand by tenant type in a particular street you can verify this by contacting independent letting agents (not attached to the sales agent) with properties being advertised on that street or nearby. Walk the street both day and night to better understand the area and if you’re still unsure ask a police officer familiar with the area about that particular street. With only two days try to focus on what you’re really interested in; Apartments or houses, you may find it challenging to acquire the latter on a low budget in some of the areas you've listed above. What's more important to you growth, yield or a bit of both? Tenant type? Budget? Exit period? Feel free to send me a message with answers to the above and I'll forward on details of a few properties worth looking at to get you started on your Liverpool property journey. Enjoy the sleep while you can. Best of luck, CP
  5. You’re both missing out; the Brewery Tap's a great wee spot for a brew and a bit of banter on the edge of the Baltic Triangle every first Thursday! In fairness Adam your desktop research isn't too far off the mark with some of the preconceptions you arrived at. You could find a couple of two-bed terrace houses in each of those areas within your budget needing a bit of work and also demand from working tenants with potential for yield and growth 'but' there are streets in each of these same areas working tenants may not be interested in. If you concentrate on a single area and arrange your viewings tomorrow in advance, add the addresses into Google maps for a dummy run of the best route when you arrive you'll be able to kick off your viewing schedule first thing Friday morning and you'll be surprised at how many you get through. A vendor met me at 8 pm last week - sure isn't the stretch in the evenings these days only mighty! Anyway less of the excuses we'd a guy over from Japan the month before last so see you in the Brewery Tap tomorrow! CP Adam, I'm also down in Bristol every couple of months in the Arnos Vale area if you’re really unable to make it up and fancy a brew but Ed I'm only going as far as Bali this year so unless you can make it to Potato Head Beach feel free to message me and I'll be happy to answer any specific questions you have.
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