Someone got a bargain


#1

Sold today for 310,000
Put 60k/70k in (new kitchen ,bathrooms,tiling and a bit of paint) and you have a property worth 475 in the CURRENT market


#2

I didn’t look at this house but there was some dodgy stuff in that auction.
Repossessed stuff. Tenants in situ. No lease paperwork available. etc.


#3

I checked this one out
Repossession property but no tenants and the the legals looked OK to my untrained eye.
What put me off was the fact it was advertised and sold within a few days so no real chance to get the legals studied by a conveyance solicitor.
Me and my 2 brothers were looking at it for the rental market but the speed of it was a bit dodgy
No idea about others in the auction


#4

back on the market for 125k over selling in 6 weeks.
A quick tidy up and a bit of paint and a nice profit to be had
As i SAID SOMEONE GOT A BARGAIN
I would say 80k after all expenses and before tax


#5

Nothing like fresh cheap carpet

That grey polypropylene carpet people throw in places is awful


#6

Would it have killed them to pull some weeds and give it a quick power hose?


#7

Would it have increased the asking price
I doubt it
If you are flipping a property you do not do anything that will not increase the price