A number of my Clients have approached me with a view to Joint Venturing with like minded investors with a brief to purchase & re sale residential property within 12 months.
As the majority live & work within the Oxford are they have expressed a desire to purchase within 8- 10 miles of the City. All have been trying to purchase individually & have come against the common problem in the City that the open market is very active & by competing against a still healthy number of buyers in the marketplace they are unable to secure sufficiently below market offers. Additionally scarcity of supply, given the number of chimney pots is an additional challenge.
The solution: by purchasing collectively their buying power increases & with the aim that they purchase property which is too high a value for the 'small ' buyer but too low for the 'big guys.' In Oxford this is around £600- £700,000 level.
Types of property: values as stated previously, & where value can be added via refurbishment/ redevelopment. Properties which may require complicated, or lengthy planning, will not be considered given the aim to turnaround within 12 months. By using our purchasing power to secure below market we of course should gain via refurb. Gross profits will be project dependent of course but a realistic aim will be around 20- 22% (min.)
Resale opportunities are strong & demand within the City is always high. A Google News search "oxford property market" generally shows a long list of articles relating to the markets resilience, bouyancy, & gains.
Aditionally, regarding onward sale, I have had preliminary discussions with a number of Companies & Institutions in the area who would be keen to take property on a commercial lease basis when the projects become available. In certain cases it may be a good opportunity to put a commercial tenant in situ & thereby market the property as an ongoing business to any potential buyer/s. Also, of course providing an income during any resale period.
Currently the amount raised collectively is around £600,000 with the aim to increase this to around £900,000 during the coming 4- 6 weeks.
Whilst my current clients are all based within Oxfordshire with already established property portfolios, any potential investor could be based further afield. I have worked with a number of the investors previously on individual projects which have been purchased within the South East, & London areas. The necessary professional contacts ie. solicitor, surveyor, planner, architect, & project manager are all in place & worked with on sizeable projects previously.
The above can only a be a brief, but hopefully provides enough information in the first instance.
As the majority live & work within the Oxford are they have expressed a desire to purchase within 8- 10 miles of the City. All have been trying to purchase individually & have come against the common problem in the City that the open market is very active & by competing against a still healthy number of buyers in the marketplace they are unable to secure sufficiently below market offers. Additionally scarcity of supply, given the number of chimney pots is an additional challenge.
The solution: by purchasing collectively their buying power increases & with the aim that they purchase property which is too high a value for the 'small ' buyer but too low for the 'big guys.' In Oxford this is around £600- £700,000 level.
Types of property: values as stated previously, & where value can be added via refurbishment/ redevelopment. Properties which may require complicated, or lengthy planning, will not be considered given the aim to turnaround within 12 months. By using our purchasing power to secure below market we of course should gain via refurb. Gross profits will be project dependent of course but a realistic aim will be around 20- 22% (min.)
Resale opportunities are strong & demand within the City is always high. A Google News search "oxford property market" generally shows a long list of articles relating to the markets resilience, bouyancy, & gains.
Aditionally, regarding onward sale, I have had preliminary discussions with a number of Companies & Institutions in the area who would be keen to take property on a commercial lease basis when the projects become available. In certain cases it may be a good opportunity to put a commercial tenant in situ & thereby market the property as an ongoing business to any potential buyer/s. Also, of course providing an income during any resale period.
Currently the amount raised collectively is around £600,000 with the aim to increase this to around £900,000 during the coming 4- 6 weeks.
Whilst my current clients are all based within Oxfordshire with already established property portfolios, any potential investor could be based further afield. I have worked with a number of the investors previously on individual projects which have been purchased within the South East, & London areas. The necessary professional contacts ie. solicitor, surveyor, planner, architect, & project manager are all in place & worked with on sizeable projects previously.
The above can only a be a brief, but hopefully provides enough information in the first instance.
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