Overseas Deals or UK

Overseas Deals

Moving house is notoriously one of the top five most stressful of life’s occurrences. Over the last month I’ve been moving out of my penthouse with the idea of building another floor above. Whether it becomes a duplex with five bedrooms or a separate two bed apartment has yet to be decided but one thing’s for sure, I don’t want to be living there when the builders are on the job. Not that anything has even been taken to drawing stage yet but some tentative inquiries to the planning department are under way. I’ve let it out on a six month lease whilst I set up new living facilities elsewhere. As with most businesses having more than one base is a useful way to seek new opportunities. Transferring myself from my South Manchester three bed flat to a one bedroom city centre studio is a sensible move, I don’t need to waste space by filling it with clutter. I already have far too much junk. The added benefit of the new city centre apartment is it’s directly above our new office so it’s very much like working from home. I’ve combined this with a move to the beautiful Hampshire countryside to work with new partners who have an eye for a deal.

Before I’d even arrived in Southern England one possible deal had shown itself. A lovely old toll house which has been added to but isn’t being used to its best potential. With a couple of acres of paddock suitable for renting to the horsing fraternity the existing outbuildings could be converted into a commercial venture. The house isn’t even being seen from its best angle, that side is all overgrown. The whole place is at its pre 2006 price and the sellers are clearly motivated. It certainly has the makings of a good deal but it needs some creative financing and clever negotiating to make it work.

We’ve still got a chimney pot deal going through. A deposit held with another sourcer searching for a deal and the ongoing saga of trying to get back our five grand deposit from the Platinum Property Portfolio who for over six months have led us a merry dance. Don’t trust anyone in property if you know what’s good for you.

Anyway it was time to take an official break so as soon as the British summer started I knew it was time to evade the rain and get some Cyprus sunshine. It’s a while since I’ve been and my apartment there needs some serious management organising, there could even have been some raised voices as my intention was to put the block with another management company altogether. My rental managers have been okay but not proactive and every property needs to make money. There is no room in a portfolio for any slack so in come a new team to sweep clean.

This is actually a brilliant time to pick up deals overseas as the values have literally dropped by a huge margin. Anyone with spare cash, a frozen pension scheme or redundancy money on the way could do far worse than pick up an overseas deal right now. Managing it is another matter but that can be the same anywhere if you’re not careful.

Always check those in control of your assets.

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