Posted by tungstenmg Last updated 28th June 2021 reading time
As we reach the end of June we are nearly over the line for the Wigan purchase. We are just waiting for the final nod from the vendors mortgage company to confirm they will allow us to carry out our planned refurbishments.
In the mean time I have spent a number of hours going through desk top research. There is a lot on the market at the moment but after conducting some research by calling agents to confirm the rental and sales figures plus carrying out the usual internet searches, I have learnt that many deals are not actually deals for us. It is best to conduct the research now and learn that the figures do not stack up before we exchange any funds. It can be frustrating as it can take a long time to confirm if a deal is really a deal or not, but it’s all part of the project planning stage.
We have continued to look to Wigan, Liverpool, Bradford and the West Midlands for opportunities as well as one project in the South East. The issue that many of you know is the South East is more expensive in terms of the initial purchase and also the building costs, and the rentals are not that far from those in the North West.
I have said many times that Bannan and Sulley are not looking to house purchases or creations, as we want to get 50 units into Bannan and Sulley before the end of 2021 so we are looking at flats as our main vehicle to achieve this.
I hope that next month we can confirm that we have completed and exchanged on Wigan and are knee deep in the clear out stage …. let’s wait and see!