RJM Property Sourcing Blog

New 33% BMV deal, £300pcm profit!!

admin — Fri, 24 Sep 2010 21:38:34 +0000

Hi,

Just back from a really super deal … Only £1000 of your own money left in the deal post completion and over £300pcm positive cashflow!!!

3 Bedroom Semi Detached Bungalow with excellent gardens and great country outlooks, Lounge, fitted Kitchen and Bathroom, all in good decorative order ready for RENTAL….@ AROUND £500 PER MONTH.

HOME REPORT VALUE …£77,000

You can buy it from us for only £52,000 !!! £25K below BMV!

The figures;

The property is a 3 bedroom semi-detached bungalow.
A mortgage can be raised at 75% Ltv, valuation is £77,000 with a 75% LTV mortgage of £57,750 will be available.

Purchase Price £52,000

Deal Packaging costs £3750 (legals, deposit bridging & mortgage broker fee)

Reservation/finders fee £3000

Total cash in £58,750

Mortgage advance of £57,750 - total cash in of £58,750 = Only £1000 left in this deal after completion

Mortgage £197.31 (based on BM Solutions 4.1% 2yr tracker)

Rent £500pcm

Monthly profit £302.69

Photos attached

Best regards,

Richard Matthews

RJM Properties

www.rjmproperties.co.uk

Phone: 01776 728 001

Fax: 01776 728 002

Why Scotland

admin — Tue, 21 Sep 2010 14:39:33 +0000

Why Scotland?

Primarily because house prices have always been very affordable – if we compare Glasgow, the biggest city in Scotland, with the UK average it compares very well!

The UK currently has an average house price of around £175,000 while Glasgow is around £130,000.

With salaries in Glasgow comparing very well with UK average salaries – around £22,000, this shows the houses on average are far more affordable than the UK as an average - so far more scope for capital growth.

Pricing stability - with some exceptions, Scotland has not suffered from huge price increases or severe price falls. For an investor valuing steady growth and stability, that’s a good background for investment.

Rental Demand - Scotland has a thriving rental market with a higher proportion of renters than in England. Again, for a buy to let investor, this is good news.
The other big attraction is average rents. Scottish rents compare very well with the rest of the UK – meaning excellent yields!

Deals Actually Happen! - If you are investing in England, mortgage valuations continue to be a source of anxiety and deal failure with considerable risk in the transaction progressing to completion. Typically 30-40% of transactions in England currently fail. In Scotland the success rate is far higher - 90% or more which is great news for investors.

Regular Stock - If you are intending to build a portfolio, we can offer you a regular stream of property across Scotland, and mainly in the Central Belt

Resale Property - most of our deals in Scotland will be resale property. That means very competitive pricing and no saturation of the local market that can happen with new build property. You can also gain a higher percentage of mortgage funding with resale property.

Easy Legals - most investors know that the legal system in Scotland is different from England, and I mean that in a good way - just call and we’ll explain in more detail. Essentially, it’s easier to buy in Scotland and there is less likelihood of the deal falling through.

Over the last few years we have sourced in many places – but one of our favourites throughout has been Scotland (and that’s not just because I live there)!
Another attraction is the flats in Scotland are feudal – and so are not leasehold properties – so no ground rent to pay!

I own around 67 properties in Scotland – many ex local authority properties, and they have always performed very well!

We have worked hard to increase our sourcing in Scotland, and are now securing up to 10 properties every week that fit our tight criteria.
Properties in Scotland always get snapped up very quickly – but now with extra sourcers we can source further properties for our database of investors!

Let me show you an excellent recent example:
Auchinleck, Ayrshire

Total cash in to purchase is just under £2503, which includes finders fee, solicitors fee, deposit lending fee and brokers fee.

The property is a 2bed lower cottage flat close to the town centre.

Costs
£49,000 purchase price

£2000 finders fee
£199 Valuation fee
£399 Broker fee
£1180 Deposit lending
£725 Legals
£53,503

-£51,000 mortgage advance

= £2503 total cash left in deal

Rent £425pcm
Mortgage £199.75(BM Solutions 4.7% tracker)
Profit £225.25

Please Note: this property must be purchased using our solicitors, brokers and deposit lending scheme.

The Property
A 2 Bedroom ex Local Authority cottage flat in good order that briefly compromises of: Hall, Lounge, Kitchen, Bedroom 1, Bedroom 2 and Bathroom. The property comes complete with double-glazing and gas central heating.

This property can give a huge positive cashflow each month, and gives £21,000 of equity on day one!

We have a very strong team in Scotland, with 11 years buying experience there ourselves, we have an excellent team of property lawyers, brokers and letting agents.

Newsletter Sept 2010

admin — Tue, 14 Sep 2010 09:16:12 +0000

Hi,

Firstly I’d like to thank all of our clients past and present for their business over the last 7 years, the property market in Scotland has certainly picked up over the last 6 months, with local agents reporting that the majority of properties are now selling in under 3 months providing they are correctly priced and marketed, and more importantly the majority of properties achieving their full home report value, whilst this is good news if you are selling, it doesn’t make our job any easier in sourcing BMV deals!

Our building company, RJM Property-services is busier than ever, but with several jobs nearing completion we are in the position to take on refurbishment work at the end of the month, so if you have a property you require refurbishing, or if you need a quote or are just considering buying a property that requires work drop me a line and I’ll be happy to quote. We do everything from fitted kitchens & Bathrooms, double glazing, plastering, down to decorating and carpets.

For those wanting No Money Down Deals, you will be glad to know that we are currently processing some excellent leads, and hope to have these converted before the end of this week. If you are a property trader, or BMV lead provider, please do get in touch, as we have excellent demand for good quality BMV deals.

For those of you that prefer to buy distressed properties, refurbish, then re-finance, you will be glad to know that the availability of fast bridging finance has increased, and many of our clients are now taking advantage of this. If you are interested in buying cheap properties, refurbishing, and re-mortgaging or selling on to realise your profit, please drop me a line and we can discuss your requirements. Some mortgage lenders will now lend on properties needing work, Northern Rock and The Mortgage Works are two examples, but you would be required to put down a 30% deposit, and then release this along with the refurbishment costs upon completion of the works. The main advantages of using this method to build your portfolio, is that you can use any solicitor, mortgage broker and you are saving on deal packaging fees and deposit lending fees.

Thats all for now, if you have any questions, quiries, or would just like a chat, please don’t hesitate to call me on 01776 728001 or drop me a linemail@rjmproperties.co.uk

Best Regards,

Richard

2 new deals

admin — Tue, 14 Sep 2010 09:14:45 +0000

2 really good deals;

11 Seggarston Terrace

Haddington

EH41 4RJ

2 bed terraced house

Valued by JE Shepherds @ £125k

Available @ £98k

£2,000 finders fee payable to me, so works out no money down on TMW 80%ltv

262 Viewfield Rd

Tarbrax

West Calder

EH55 8XF

2 bed terraced

Verbal valaution by JE Shepherds @ £60k

Available @ £45k

£2,000 finders fee payable to me, so actually gives £1000 cash back on TMW 80%ltv

For more info call me on 01776 728001 or reply to this e-mail.

Richard

PLEASE NOTE:
RJM Properties and their partners, affiliates, officers, employees, agents, contractors, successors and assigns do not accept any liability for any investment decisions made on the basis of, arising out of, or in any way related to, the use of information contained in this email

New 36% BMV deal

admin — Tue, 17 Aug 2010 14:05:43 +0000

New deal available, 2 bed flat, £750 cash back deal (based on 75% Ltv mortgage), £245 Pcm profit

We have a property at 50d Victoria Street, Newton Stewart, Wigtownshire DG8 6BT that is available for just £45,000, which will value at £70,000.

The property is a 2 bedroom first floor flat.
A mortgage can be raised at 75% Ltv, valuation is £70,000 with a 75% LTV mortgage of £52,500 will be available.

Purchase Price £45,000

Deal Packaging costs £3750 (legals, deposit bridging & mortgage broker fee)

Reservation/finders fee £3000

Total cash in £51,750

Mortgage advance of £52,500 - total cash in of £51,750 = £750 cash back on completion

Mortgage £179.38 (based on BM Solutions 4.1% 2yr tracker)

Rent £425pcm (based on Lha rate)

Monthly profit £245.62

The property is in good condition throughout and is ready to rent out.

This deal will go quickly, so don’t delay, call RJM Properties now to reserve, or reply to this e-mail!

For more info call me on 01776 728001 or reply to this e-mail.

Richard

New 25% BMV deal, Glasgow, Lanarkshire

admin — Mon, 26 Jul 2010 12:19:36 +0000

New 2 bed house available, £2,750 cash in deal (based on 75% Ltv mortgage), £210 Pcm profit

You would actually get paid £1,747.50 after all costs to buy this property if you were to buy using TMW 80% Ltv mortgage product.

We have a property at 44 Lochdochart Road, Glasgow, Lanarkshire G34 0BH that is available for just £67,463, which is valued at £89,950.

The property is a 2 bedroom end terraced house.
A mortgage can be raised at 75% Ltv, valuation is at £89,950 with a 75% LTV mortgage of £67,463 will be available.

Purchase Price £67,463

Legals £750 (buyers, paid upfront to vendors to reserve the deal)

Reservation/finders fee £2000

Total purchase costs = £2,750

25% deposit is paid by the vendor

Mortgage £264 (based on BM Solutions 4.1% 2yr tracker)

Rent £475pcm (based on Lha rate)

Monthly profit £210

The property is in good condition throughout and is ready to rent out.

This deal will go quickly, so don’t delay, call RJM Properties now to reserve, or reply to this e-mail!

For more info call me on 01776 728001 or reply to this e-mail.

Richard

Latest buy to let mortgage rates.

admin — Sat, 03 Jul 2010 08:48:43 +0000

80% loan to value
	TMW	4.99%*	Fixed	31.09.11	3.0%	125% @ 4.99%*	5%
	TMW	5.49%*	Fixed	31.09.13	3.0%	125%	5%
	Bath	5.89%*	Variable	Lifetime	£999	125%	5%
	Shepshed	5.99%*	Variable	Lifetime	£999	125%	Nil
75% loan to value
	Nottingham	4.59%*	Tracker	2 years	£600	125%	5%
	BM	4.60%*	Tracker	2 years	2.75%	125%	3%
	Newbury	5.25%*	Variable	3 years	£750	125%	2%
	Nottingham	5.29%*	Fixed	01.09.13	£1100	125%	180 days interest
	TMW	5.64%*	Fixed	30.09.12	3.0%	125%	5%
	Kensington	5.69%*	Fixed	2 years	2.5%	125% @ 5.69%*	5%
	Aldermore	5.78%*	Fixed	3 years	2.5%	125% @ 5.98%*	5,4,3%
	NatWest	5.79%*	Tracker	30.06.12	£1499	125% @ 6.75%*	3%	Top slicing allowed
70% loan to value
	TMW	3.44%*	Tracker	31.09.11	3.5%	125% @ 4.99%*	3%
	Clydesdale	4.99%*	Fixed	2 years	£1499	125%	3%
	TMW	4.99%*	Variable	Lifetime	£2499	125% @ 4.99%*	3%

*The actual rate available will depend upon your circumstances. Ask for a personalised illustration

New 25% Bmv deal with £184.24 pcm profit!!

admin — Thu, 01 Jul 2010 10:12:15 +0000

New 25% BMV deal, a 2 bed flat in Kilmarnock, Ayrshire;

that is available for just £63,750 and is valued at £85,000

The property is a 2 bedroom flat.
A mortgage can be raised at 80% Ltv, valuation is at £85,000 with a 80% LTV mortgage of £68,000 will be available.

Reservation/finders fee £3000

Deal packaging fee £3700

Total purchase costs = £6700

Purchase price £63,750

+ Total purchase costs £6,700

= Total cash in £70,450

Mortgage advance of £68,000

- Total cash in £70,450

= Total cash left in £2,450

Mortgage £265.76 (based on TMW 80% Ltv 4.69% 1yr fixed)

Rent £450pcm

Monthly profit £184.24

The property is in good condition throughout and is ready to rent out.

This deal will go quickly, so don’t delay, contact RJM Properties now to reserve!

For more info call me on 01776 728001

Richard

New BMV deal, £199.88pcm profit!!

admin — Thu, 01 Jul 2010 09:10:32 +0000

New no money down BMV deal, a 2 bed flat at;

48 Parkend Road
Saltcoats
KA21 5PJ

that is available for just £52,000 and is valued at £72,000

The property is a 2 bedroom flat.
A mortgage can be raised at 80% Ltv, valuation is at £72,000 with a 80% LTV mortgage of £57,600 will be available.

Reservation/finders fee £2000

Deal packaging fee £3700

Total purchase costs = £5,600

Purchase price £52,000

+ Total purchase costs £5,600

= Total cash in             £57,600

Mortgage advance of £57,600

- Total cash in             £57,600

= Total cash left in      £727

Mortgage £225.12 (based on TMW 80% Ltv 4.69% 1yr fixed)

Rent £425pcm

Monthly profit £199.88

The property is in good condition throughout and is ready to rent out.

This deal will go quickly, so don’t delay, contact RJM Properties now to reserve!

For more info call me on 01776 728001 or reply to this e-mail.

Richard

New 25% BMV deals with 5% cash back

admin — Thu, 13 May 2010 10:10:39 +0000

£45,000

2 bed terrace, Burnley

RICS Market Value	£59,950
Investor Price	£45,000
Deposit Paid By Investor	NIL
Instant Equity	£14,950
Rent Achieved PCM	£350
Monthly Mortgage	£176
Client Profit PCM	£173

£59,963

2 bed terrace, Accrington

RICS Market Value	£79,950
Investor Price	£59,963
Deposit Paid By Investor	NIL
Instant Equity	£19,988
Rent Achieved PCM	£395
Monthly Mortgage	£234
Client Profit PCM	£160

£74,962

2 bed terrace, Chorley

RICS Market Value	£99,950
Investor Price	£74,962
Deposit Paid By Investor	NIL
Instant Equity	£24,987
Rent Achieved PCM	£475
Monthly Mortgage	£294
Client Profit PCM	£181

£74,962

1 bed bungalow, Tyne & Wear

RICS Market Value	£99,950
Investor Price	£74,962
Deposit Paid By Investor	NIL
Instant Equity	£24,987
Rent Achieved PCM	£450
Monthly Mortgage	£293
Client Profit PCM	£156

£74,963

3 bed terraced, Houghton, DH4

25 Cragdale Gardens | REPOSSESSED PROPERTY FOR SALE | 25% Deposit Paid |This property comprises of Entrance hall with staircase to first floor, Lounge/dining room ,Garden to front with lawns and borders, 3 Bedrooms. | Current Market Rent £475|

RICS Market Value	£99,950
Investor Price	£74,963
Deposit Paid By Investor	NIL
Instant Equity	£24,988
Rent Achieved PCM	£475
Monthly Mortgage	£393
Client Profit PCM	£181

£74,963

1 bed Apartment, Salford

RICS Market Value	£99,950
Investor Price	£74,963
Deposit Paid By Investor	NIL
Instant Equity	£24,988
Rent Achieved PCM	£450
Monthly Mortgage	£293
Client Profit PCM	£156

£74,963

3 bed semi, Bolton

RICS Market Value	£99,950
Investor Price	£74,963
Deposit Paid By Investor	NIL
Instant Equity	£24,988
Rent Achieved PCM	£475
Monthly Mortgage	£293
Client Profit PCM	£181

£74,963

3 bed semi, Manchester

248 Kenyon Way | REPOSSESSED PROPERTY FOR SALE | 25% Deposit Paid | A three bed semi detached property | BRIEFLY COMPRISING: Briefly comprises; entrance hall, a lounge and a fitted kitchen/dining room. On the first floor of the house you will find three bedrooms and a bathroom. There are gardens to three sides of the house. The property also benefits from central heating and double glazing | Current Market Rent £475 |

RICS Market Value	£99,950
Investor Price	£74,963
Deposit Paid By Investor	NIL
Instant Equity	£24,988
Rent Achieved PCM	£475
Monthly Mortgage	£293
Client Profit PCM	£181

3 bed semi, Gloucestershire

RICS Market Value	£124,950
Investor Price	£93,713
Deposit Paid By Investor	NIL
Instant Equity	£31,238
Rent Achieved PCM	£650
Monthly Mortgage	£367
Client Profit PCM	£282

£112,463

4 bed Semi, Burnley
22 Straight Mile Court | REPOSSESSED PROPERTY FOR SALE | 25% Deposit Paid | Semi-Detached 4 Bedroom Family Home. COMPRISING: - lounge’ Kitchen/ Diner, Downstairs WC, Four bedrooms, Parking. | Market Rent £650 |

RICS Market Value	£149,950
Investor Price	£112,463
Deposit Paid By Investor	NIL
Instant Equity	£37,488
Rent Achieved PCM	£650
Monthly Mortgage	£440
Client Profit PCM	£209

£112,463

3 bed terrace, Cleveland TS25
511 Owton Grange | REPOSSESSED PROPERTY FOR SALE | 25% Deposit Paid | Family Home. This property briefly comprises of;- lounge diner, kitchen, stairs to first floor landing, Three bedrooms. | Current Market Rent £650

RICS Market Value	£149,950
Investor Price	£112,463
Deposit Paid By Investor	NIL
Instant Equity	£37,488
Rent Achieved PCM	£650
Monthly Mortgage	£440
Client Profit PCM	£209