Our Criteria
HP+I work to a strict criteria when sourcing deal's, below are just the first five 'Must Have' checkpoints that the property must match before we even view it. These are properties: in great condition, with a minimum of 3 lettable rooms, surrounded by a great management team and within 15 mins of the nearest city centre in a car.
Providing the properties meet these criteria we then carry out our due diligence on the property, which would involve the following and more:
A. We will speak to multiple local letting agents and other investors to check on rental demand, rental income, competition in the area and get their thought on the property and location. If we get any sense the local agents think the location is poor and the property will struggle to let then we simply walk away. We will never pass a property if we are aware of any future issues with regard's to rental demand.
B. We will confirm that the property is a great price, we will check comparable properties in the area, check various online resources to verify true market value and check what else is for sale nearby. Sometimes if the deal stacks up we are happy to pay the asking price providing the deal is providing great returns.
For HMO’s, we will obtain estimated quotes from our builders for the conversion costs to make the property compliant with licensing rules. These quotes are estimated only and should never be mistaken for a final figure for conversion.
C. We will confirm with the local authority the license fee (if required).
Only once we’re sure the property is a great investment will we will then pass this to our investors.
Remember if we wouldn't purchase the property for our own portfolio then we would not pass it to an investor.
Our Commitments
Before we start, it is important that we are both transparent and realistic with what we can expect to achieve. We commit to getting outstanding North East properties. In return, we do expect some commitments up front to show you are serious about sealing the deals proposed!
What You Can Expect...
Great value properties which offer as solid, substantial, slow growth return which will make you a lot of money in the medium to long term investment range.
This is what we can expect to achieve:
- 8-10% Return on Capital Employed
- Properties with around 5%+ Capital Growth
- Properties after refinance of up to 20k left in the deal
What We Expect From You...
We want you to be able to move quickly to execute the best deals: we want this to be done with clarity and with security. Therefore, up front we will need from you:
- Proof of Funds (have you got the capital in the first place?)
- Proof of ID (you are who you say you are)
- Terms of Business (we aren’t going to get gazumped!)
Do this we will all have the confidence that when we put in an offer, we mean business to ultimately get you the best deal possible!
Process
will send this via our opt in email service. If you're not on that list, you're missing out.
Once you are on our mailing list you will receive emails regularly with great investment deal's. If you like the look of a particular deal follow the instructions on the email for reserving the deal:
1. You Reach Out
2. We Reach Out
We prefer to get the basics out of the way first. So we'll ask you for a few details about yourself, your contact information and a brief overview of what you're looking for, before one of our team gets in touch.
You can do this using the form here:
You will get an email inviting you to become a member of our VIP list. A member of out team will get in touch via a phone call or video. During the call, we will delve deeper into your requirements until we have a clear picture of exactly what you're searching for. So be prepared to talk specifics like your favoured area, a rough budget ad preferred property type.
3. You Make
Initial Payment
4. We Work Hard To Find Your Deals
5. We Step Back and Support
If you want to proceed we will send over our Terms of Sale and the invoice for the commitment fee of £500. At this point, we will also need from you your Proof of Funds and Proof of ID.
We will then send great offers through email (message and phone if you are on the VIP package and 24 hours earlier than those on the basic package). All you do is complete the reservation form and pay a £1,000 deposit. The property is yours.
We then take a step backwards and let you deal directly with the agent.
We are on hand to assist with and issues which may arise throughout the process up to completion.
Additionally, if you require any of the hands-free, bolt-on services such as supervising renovations or if you would like any recommendations for a solicitor or mortgage broker, we are happy to provide this for you at an additional cost.