My name is Keith Griggs. I have been investing in property for over 20 years, and have invested over £40k in my own property education and training over the years.
I am also an ex chartered accountant who is an expert in internet marketing check out https://keithgriggs.com for more about me.
After I sell this property I am going to turn this domain into a property website. I am looking to JV with a property professional or investor. I have learned that by working with someone we can earn considerably more than working alone. J. P. Getty became the richest man in the world by making many other people very rich alongside him.
I could work with you in many ways.
1) I could find investors for you using my network and/or paid ads.
2) If you have finance I can find you incredible investments. In my view property is in a whole different league to any other form of investment in terms of cashflow, long term capital growth and also safety.
3) I also have 3 full time VAs, and could find cheap, run down or possibly unmortgageable properties in your area that you could buy (for cash or with bridging finance), fix up and sell , and I get a fixed fee or a cut of the profits. This is an example of one we found in Walsall a few years ago https://www.rightmove.co.uk/properties/45969598#/
4) I also give coaching and consultancy - you then have access to all my many skillsets and experience, and book me by the hour or day.
Let us get in touch to see if there is any way we can work together.
Drop my a message on Linkedin , Facebook or book a 15m zoom call .
Amazing Deal of the month below
19.6% gross rental return
Hands free multilet for sale at auction 31st March
Multilet for sale. Sourced, converted and currently fully managed by Jim Haliburton ( HMODaddy.com is his site where he educates HMO investors and j9accommodation.co.uk is his agency where he rents out rooms in his own and other people's multilets including this property ).
I only visited the property when I bought it in 2014, Jim has managed it since then. It was a normal terraced house when I bought it, but I spent £48k converting it into a multilet, adding fire doors, a fire alarm, sprinkler system, a toilet, shower and kitchenette in each of the 5 rooms etc.
Completely hands off investment. Jim Haliburton will manage everything if you want.
For sale at online auction on 31st March 2021 . You need to pre-register by noon on 30th March. Lot 129
Guide price £136,500
Gross rental income £26,780 p.a.
Gross rental return = 19.6%
Multiple of price/gross income = 5.1
Address: 2 All Saints Road, Wednesbury, WS10 9LL
Details: 5 rooms all self contained with toilet, shower and kitchenette
Fire alarm
Gas central heating
Fire doors
Sprinkler system (this goes over and above the legal requirements, but could save lives and a fortune if there was a fire)
There is a locked door to the passageway between 1 and 2 All Saints Road. All tenants have access to the passageway and the key will be
provided to the buyer along with the room keys.
Mortgages are available for this type of property at 75% loan to value . Some valuers will value based on income, and a property with this rental income could possibly be valued at up to £200k or more, which would potantially give a mortgage of £150k and no money left in the deal. For more information about getting a mortgage like this, ask any mortgage broker who specialises in HMOs such as Dean Cripps from Ramsay and White dean.cripps@ramsayandwhite.com 02921 111280 ( https://ramsayandwhite.com ) . Which.co.uk did a comparison of rates.
Comparable sales:
5 bed HMO in Birmingham gross income £29,220 sold for £220k in Feb. Gross return 14.6% Multiple of value/income = 7.5 Details
Also in the same auction is a 7 room HMO with gross income of £24k . Guide price is £190k which would give a gross return 12.6% Multiple of value/income = 7.9 Details
Applying those same multiples of value / income to 2 All Saints (i.e. multiplying by £26,780) gives it a value of:
7.5: £201k
7.9: £212k
Average = £206k
Another sale I saw was for a block of flats in dudley. You can't really compare this to an HMO as it is a different kettle of fish. However I was still interested in the return. The gross return was £18,300 and it sold for £176k . This would give a multiple of 9.6 . Applying this multiple to £26,780 would give £257k.
