Case Study How to Buy a Block of Flats when you don't have the Money
Channel: The Good Property Company / Susannah Cole
Date: 2017-04-07

There are fab ways of making it happen in property, without needing any of your own funds to make it happen. At TGPC, we ran a sourcing business for 5 years, which was a great experience in sourcing deals, doing JVs, working with investors. At that time we sourced over £45 million of property (after refurb) with an agree purchase price of £30 million. 

Notice that we aim (and it might be best if you do too,) to under value where possible, so as to help the projects 'absorb' the usual speedbumps that can happen in a property project. 

For this set of 4 flats, we said 2 would be worth approx £105k, and they sold £110 and £115, one was £120k, which sold for £125k and one £125k which sold £135k.

That way you help the project and the trust of working with partners, as there are no 'bling bling' over valuations, with hope over reality. 

Assessing value is a skill, and also in a market where you are not the buyer but the seller, always an art (ie not exact) not a science, but with up to 45 pieces of research for every deal we did, we tried our very best to get it right.

A fab way to make money from property when you don't necessarily have it yourself - JVs and also packaging sourced deals.

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