The Opportunity
THE OPPORTUNITIES TO CREATE
LONG-TERM
WEALTH IN PROPERTY ARE
EVERYWHERE
Hello, I am going to explain to you now about the opportunity that always exists in residential property for people who are knowledgeable and prepared enough to be able to source below market value (BMV) properties for themselves. It is something that I have been doing now for around 10 years – and it is something that you are easily capable of learning for yourself.
What is a below market value (BMV) property?
Quite simply, as you probably expect, it is a property that is sold for less than it is actually worth at the time of the sale.
So - hopefully no surprises there then!
Therefore, we can say that a property sold for £120,000, that is really worth £130,000 is, technically, a BMV property.
Technically that would be correct. However, as far as I am concerned it is not a ‘real’ BMV deal.
The above example illustrates a deal with a ‘discount’ to real market value of just 7.7%
It’s not enough for me though…..the margin is too thin for it to be attractive
I have a big problem with such a small discount. If I told you that lately my latest purchases have been around 65% of CURRENT market value, and that even in the recent years when house prices were increasing by double-digit percentages each year – I have never paid more than 80% of a property’s value at the time - and that's when the market was rising annually at 10%+.
Before I educated myself in this business, I did commit, very early on, the amateur’s ‘sins’ of paying full open market value for properties – but that was a long time ago – and those experiences taught me to do things in a more profitable and smart way.
My profile page - outlining how it all began - explains this in more detail for you…here
This page also outlines the opportunities that exist, and also the logic behind sourcing the opportunities.
So what is the opportunity?
Simply, it is the opportunity to exploit situations.
In other words, always, in all corners of the UK - at any time, people exist who absolutely must sell their houses quickly. The reasons for this are many. I often think that I must have heard of all of the reasons by now – only to later hear of another one to add to my long list!
Now, some of these people are not just anxious and keen to sell their homes.
A very small percentage of these people are absolutely desperate!
This is where I, and others like me, capitalise.
Now, I must point out that when I say ‘capitalise’ I would hate you to think that there is a moral issue in what I do. I say the word capitalise in the same vain that Tesco capitalise on our need to eat and drink, or s surgeon capitalises on the fact people need medical attention.
It is meant as a business term.
The people who sell their houses at low prices - do so with no external pressure - they are simply introduced to a fast, uncomplicated way of solving their problem
I simply tell them what I can do for them - they
decide if my option suits them or not......
If you decide that you want to copy what I do, I will show you how to operate in the most ethical way possible. You will be a service provider for a desperate person – who needs help – at a price.
I have never upset or antagonised an enquirer or customer of mine.
Ever.
This system that I have created is something that is very teachable – and therefore, something that anyone can be taught to do.
‘Ah right Greg, so when you find a desperate person – you find a deal – correct?’
No, wrong – unfortunately.
You see, it often turns out that many desperate people – in other words – people who would sell their house below market value in order to end their desperate situation – simply cannot afford to accept my offer – and, as a result of this, there is nothing that we can do to help them.
How frustrating do you think that that must be?
Extremely.
However, that is always going to happen – it is something that we must accept. I’ve lost count of the number of times people have said something along the lines of ....
‘Greg, if we could afford to accept your offer – we would. We understand your explanation of why you must make us a low offer. However, your offer doesn’t cover our outstanding mortgage so we can’t afford to take it’
In situations like this, it is just a case of bad luck for both parties. The deal breaks down because I will only pay a price that will ensure that I profit greatly - and protect my position, and unfortunately the seller cant afford to accept my price – even thought the concept of what we offer (a fast, assured sale) is incredibly attractive to them as a desperate seller.
To buy a house at a price that didn't ensure that you as the buyer would be operating risk-free would be foolish on the your part.
However, on the positive side…..and this is the crux of it all....
Every now and then, someone is desperate AND can afford to accept my low offer AND wants to solve their problem of needing to sell their home extremely fast.
When everything comes together like this – we
then have a deal.
Now, even on a very modest deal of say a £120,000 current market valuation, a 65% offer accepted means we buy the property for £78,000!
This represents a gross wealth increase to the
buyer of around £40,000
This is what makes the business worthwhile. When you do ‘land’ a deal you make big gains.
Fishing……
The process often reminds me of fishing – where patience and persistence is rewarded with an occasional successful 'catch' that makes it all more than worthwhile!
‘OK, so why will people sell to you at very low prices?’
Good question. Simply because I offer them what they want!
I offer them a fast, assured sale. I solve problems.
You must be aware that even in boom times in the housing market, the red tape and inefficiencies that are present in the house buying processes in the UK mean that transactions drag on and on.
I often feel that it appears that the red tape and bureaucracy was put there as a gift to property professionals like me!
From a seller receiving an offer - up to the transaction completing, it usually takes around 11 weeks on average. Remember – this is when an offer has been accepted, it doesn’t take into account the time a seller waits until they FIND a buyer – it’s just the time taken AFTER the buyer is found and a slae has been agreed by both parties.
Even in normal times it takes around 3 months on average to find a buyer for a house. Therefore, in total it takes around 5 – 6 months on average to sell a house – in normal times!
Unless you’ve been living on Mars - you'll realise
that we aren’t living in normal times presently!
Currently though it is very usual to speak to people who have been ‘on the market’ for over 12 months. Usually that means 12 months of anguish, stress and heartache. It's a powerless feeling for people.
Therefore sellers have to wait much, much longer to find a buyer – and then they have to endure the legal minefield up to the sale completing.
To cap it all…..
Finally, there is always the worry, hanging over the sellers heads, that the proposed sale may collapse prior to completion – for one of many reasons (almost 1 in 3 sales collapse before a sale is concluded).
When this happens, the seller’s future plans, which hinge on their pending (now cancelled) house sale, concluding can be destroyed at a stroke.
However, by dealing with a professional property
buyer who has the ability to buy quickly and
complete quickly, the seller can cut out all of this
uncertainty and worry - and start to plan ahead
with total confidence.
The benefits of my service - to a certain type of property seller - ensures my success.
Hopefully, this opportunity is now making more sense to you as you read this?
I have lost count over the years of how many people, who know what I do, question the notion of why some people would sell so much below market value.
What you really have to do here is to suspend any conventional thoughts you may have along these lines.
Suspend your normal beliefs…..
You will have to change the context of your mind in order to accept this.
With around 2 million property transactions per year taking place in the UK, even if just a tiny, miniscule fraction of these were BMV opportunities then this would mean that there are plenty opportunities for you to prosper from.
And this is what I have been doing….
Exploiting a common, everyday, business opportunity…..
Exploiting this situation locally where I live - patiently over time. I have sourced over 100 below market value properties by finding eager and distressed sellers who could afford to take my offers.
‘What do you do with your houses when you buy
them considerably below market value?’
I always do one of the following…..
• Put a tenant in the house and make a monthly profit of the monthly rent surplus - whilst biding my time for capital appreciation to ‘kick in’ - and therefore build even more upon my initial wealth gain.
• Sell the property on the open market for a fast profit. I usually sell it at slightly below market value in order to attract buyers quickly. I can afford to do this as I have bought it at a ridiculous price in the first place. I simply advertise the house and wait for an acceptable offer to come along.
• I may, for whatever reason, if the house is not one that I want to get involved in, because it does not fit my strategy, pass the deal on to another investor and charge them what is know in the business as a finder’s fee.
A finder’s fee is basically easy money for not much work!
All of these 3 approaches – and a couple of others are included in my system – and are very easy to learn and implement.
‘How do you find sellers of bargain properties?
That’s a good question.
That is the most important part of the process as far as I am concerned.
It’s the engine that drives my system….
MARKETING.....
The answer is simple. The enquiries are driven through marketing.
I specialise in local low cost marketing that ensures that I am never too far away from my next phone call.
Without people to speak to I have no chance of landing deals. My system is built around consistent, proven and effective local marketing.
It is a tried and test marketing plan, that, courtesy of my students based all around the UK (and many in other countries around the world too – the system revolves around people and is therefore transferable abroad too), I get constant feedback on the system's effectiveness.
This feedback is always in line with my own personal experiences in my locality.
You see, I don’t look for houses – but I do look for people.
The property comes with the person…hopefully that makes sense to you?
As I said previously, it is very teachable. I shown hundreds of people how to copy what I've done - and continue to do.
My system is proven, sustainable and very low cost. I even show you how to implement a ‘no cost’ marketing system – so there can be no excuses of not being able to invest money into a simple, local marketing plan that will get the phone to ring for you.
This 'no-cost' system means what it says – namely that you run your local marketing efforts for nothing!
PART-TIME 'BOLT-ON' OPPORTUNITY
The majority of my students run it is a, very much, part-time business along their day job. Very often though I hear of one of my students who has the confidence to quit their day job and move into property full-time. Others enjoy their jobs but simply want more money in their lives!
you might want to click on this link to read about what others, who have copied me, have to say
This is therefore the opportunity that I offer to you now.
Please spend some time and read through the contents of my site. It will be the start of you beginning to educate yourself in this unique business.
Ask me….
Finally, It wouldn't surprise me, after reading this far, if you have some question sin your mind that you would like answered.
if you do have any queries and questions about what you read on these pages, and would like them answered, why not contact me by email?
Simply click on the link below
