A cracking deal available for you in Swansea
/Flip for a quick £12,000 or retain for the strong Swansea rentals cash flow £246
It has been evident that our clients have been searching for deals closer to Swansea itself. So bearing that in mind, us here at Source My Property set out to secure some solid deals doing just that.
This deal is a funny one actually. We originally viewed this property 6 months ago when it was listed for over £100,000 and back then we made an offer, of course at the right price for us investors. The property never sold, and then later, as part of our direct marketing campaign, the vendor of this property called us for help in the sale. It was a pleasant surprise to see the property had been reduced in price, but still outside of the price we needed it for.
We engaged directly with the vendor and make a few offers which we expected to be snapped up. However, it just wasn't the right time. A few weeks later, John decided to offer again, this time through the agent, and to our delight, it was accepted just £1,000 over what we offered directly to the vendor. I dont have the heart to explain to the vendor that we would have helped with a buying strategy which would have avoided them paying agent fee's, she is non the wiser it is even us buying it.
Figures in Brief
Flip
Asking Price - £85,000
Purchase Price - £82,000
Build Costs - £16,000
End Value - £120,000
Potential Profit - £12,000
Retention Figures
Rental Income pcm - £575
Cash Flow - £94 (@ 5%)
Cash Flow - £246 (@ 3%)
