From a Brothel to a Social Family Buy to Let Property
With Pink and Purple walls throughout an eyesore Brothel is being transformed into a social family buy to let property. This is a 4 unit plus a 1 unit in Wallsend in the NE. It will be on a 5 year contract which in the past has been renewed for additional 5 years with no voids, no managment and virtually no maintenance. This project is scheduled to be finished hopefully Friday and then we hoping to convey on 2 more properties this week. One will be a 4 bed HMO and another a 4 bed house. Our model is to keep two and sell one out of three. I believe this is the model suggested by Kevin Green from Wales. This way we are maintaining our liquidity at all times by reinvesting the rents and capital gains. I believe the Stewardson brothers in the midlands do the same.
We are in the trenches buying, rehabbing and selling houses in the property market RIGHT NOW! It is very easy to be swayed from fear mongers and social media predicting a housing crash.
I didn’t buy into the fear-peddlers messages that say we’re doomed.
If all the negative headlines are scaring you away it’s time you turned off the TV and logged off social media.
And started listening to the experts on the front lines…We look to hold properties for very long periods. There will always be ups and downs. However waiting for a crash that might never come you lose oppurtunities and a great deal of rents. We are always looking to buy right. We buy for cash, put out alot of offers and are patient. Plus there is not a whole lot on the market at this moment. We are looking for a small conversion up to 8 units and NADA at the moment.
Below are some recent pictures of our prior brothel