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Hi all.

I,m looking to invest in Liverpool and looking around the bottle area circa 100-130k 3 bed family homes . Wondered if anyone had any advise or recommendations for this area including good letting agents?

 

Thanks in advance 

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Hi Chris,

Absolutely, we run a sourcing firm with a specialty on off-market property in Liverpool (we've actually got some in Bootle on our books now). First off, you'll be able to pick up 2-3 properties for that price in Bootle!

We've just helped one of our clients pick up a property for £52k, as an example. We also have a 3-bed, 2-bath that we've just negotiated with the vendor for at £65k that's just 9-mins from Peel Ports. We think this part of Liverpool is a criminally underrated investment region in the city given the huge sums of money pouring in. With this swell of investment comes not only long-term capital gains potential, but also the ability to rent out your property to contractors for anything up to £120pppw!

We seem to be the only sourcers thinking this way, so we're cleaning up in the area for our clients... We've also got an amazing lettings manager (Nicola) who we pass all our clients on to - she gives our clients an exclusive discount on management, too.

Happy to talk more/pass on Nicola's details if you want.

Best,

Jonathan

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jonathon, from what I see, your company website (nice BTW) lots of sparkle, that you've been in business about one-year & I don't see any projects or properties for sale, completed or which you have brokered.

would you care to comment?

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Sure!

First off, thanks for the compliments on the site. It took a while to put together and still a work in progress - updates of projects done being something we need to get round to, so I appreciate the reminder.

Here are a few deals we've helped clients secure recently:

 

1) Carisbrooke Road  

 

2) Morden Street

  • This was a really nice little BMV BTL property. The vendor had sold the property, agreed to buy a new house and then the buyer of her home pulled out last minute. She came to us desperate to find a buyer. 
  • We negotiated her down to £55,000 (c.25% BMV) for an immaculate 2-bed, which our lettings manager evaluated will rent for £450-£475 all day long.
  • Here are some pics: https://drive.google.com/drive/u/1/folders/1ayeEXZlrQNeO-tpRrglzNCJd-jcAQCiy

 

3) Bereys' Building

 

4) Land Deal

  • This is a £2.95m purchase price (negotiated down from £4m), £30m GDV off-market land deal we secured for one of our developer clients. Unfortunately I can't release too many details yet as the acquisition is ongoing, but it has planning for 198 apartments, 5 commercial units and underground parking!
  • Here's a screenshot of some of the financials: https://www.dropbox.com/s/q1lwoko6yqm8wbd/Screen Shot 2019-10-10 at 18.40.05.png?dl=0  
  • Here's the architect's CGI rendering: https://www.dropbox.com/s/h60sxib9lkhuxb7/BPSS CGIs.png?dl=0
  • We work extremely closely with an agent in the city who's also helping our client line up off-plan buyers for the units and we've already got letters of intent to purchase from investors in 4 countries. We're also looking to bring in a bluechip supermarket chain (Sainsbury's or M&S Food) to take 2 of the commercial units, and I suggested to the developer that he runs one unit as a co-working space given its location and am putting him in touch with a friend of mine who runs a successful co-working business in Barcelona, to hash out the concept. 

 

Here are a couple of deals my business partner have completed recently or are personally in the process of right now:

 

5) Imperial Court

  • This was here in London. We worked with a tired landlord to upgrade his £750k flat on our dime, and added an extra room.
  • We pay him a guaranteed rent each month and let it out to our own group of tenants netting £600pcm in profit.
  • It was a lot of work, but we were pretty chuffed with the end result: https://www.dropbox.com/sh/xhj5zigwnjc1t8a/AAC-qhGU8W2nXEb7A8FsSMK9a?dl=0  

 

6) Abergele Road

  • This is a gem of a deal, in North Wales (I can't take any credit for this one, it was all my business partner's find!), asking price £179,950: https://www.richardbaddeley.co.uk/wp-content/uploads/2014/01/46-48-abergele-road-colwyn-bay.pdf 
  • It's a mixed-use unit with two shops on the bottom and two flats (one 3-bed, one 2-bed) on top. We bought this property for £101k using bridging finance (£107k after fees) - the previous owner ran out of money while redeveloping it and so we got it for a song.
  • The coolest part of this deal is that we had a contact who alerted us to the fact that the local council are giving out 5-year, 0% loans as part of a widespread regeneration effort for property in certain parts of the city.
  • We did a bit of work to reshape the property and maximise space, then had the building valued by a RICS surveyor at £140k which meant the council has given us £38,000 (interest free) to fund the remaining work!
  • Cutting a long story short, we're going to refinance once completely renovated and commercial tenants in, pull almost all our money out and then rent all four units for a conservative £2,700pcm (we've already got tenants ready for the shops). We made a trial Airbnb listing for the top floor flat, and locked in £5k's worth of bookings in just over 72 hours, so we might use one as a holiday let.

I won't bore you with more, but we've currently got: SERCO lease deals, HMOs, BTLs, flip/renovation opportunities (including a former library and a 24-bedroom care home in Farnworth Village with planning for 9 residential apartments), flats, residential portfolios, blocks of flats, land and mixed-use opportunities on our books at the moment - way more than we can handle on our own, hence why we work with a select group of investors to help them build their portfolios. Because we do volume, we also negotiate discounts for all of our clients. For example, our HMO manager usually charges 12.5% but Walton Maslow clients pay 8.5% per month. 

We've worked really hard to build relationships in the areas we invest, which is why we get access to so much off-market property (and inside information). For example, a few months ago, we were shown around Liverpool Waters - a £5.6bn regeneration project - by the lead developer, Greg. He gave us a guided tour around the site, told us about some of the businesses that have signed leases for the undeveloped land, what the council's plans are etc. He even showed us what its going to look like once completed, on VR googles: https://www.dropbox.com/s/tcqa1x1rg1x69jj/Liverpool Waters.png?dl=0

Hope that answers your question? 

Totally understand why you asked, though. Unfortunately, the property industry is full of cowboys - it's actually why my business partner and I decided to team up... We were so appalled by some of the "deals" sourcers had been sending us individually (as well as the poor service) that we figured we could do things better. We're not perfect yet, but we're working at it every day!

 

Best,

Jonathan

 

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jonathon, thanks for those details on the properties above .... all good.

nice to see good deals with actual numbers.

cowboys IMO are easy to suss out.

at my age 'I never get bored when it comes to investing or the numbers'

keep on churning those deals & building your business.

good luck

 

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Cheers! Appreciate the kind wishes, and best of luck with everything you've got going on.

Where do you invest, out of curiosity? Always keen to learn from people who've got years of experience under their belt.

 

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