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FANTASTIC Property Deals Done on the Partnership Programme!!

As many of you may know, Stuart Roffey is one of my top students on the Partnership Programme, bringing in deal after deal which means one thing: PROFIT!

I’m sure you’re like me and you’d agree that one of the biggest reasons we invest in property is for the big profits at the end – depending on how you structure the deal of course! If you want to be in this position (and believe me, there is no ifs about it, you will make A LOT OF PROFIT!!), then email me at glenn@glennarmstrong.com for more information!

Stuart has been kind enough to put together some examples of the deals he has done, and what he has made from them, as well as examples into the behind-the-scenes information that you tend to learn about when you build rapport.

Deal One

The Liverpool Fan!

Situation: Had repossession letter. Six months in arrears. Lost job through ill health. Does not qualify for benefits as Wife works. Can’t afford mortgage payments. Therefore can’t make an arrangement to pay.

Property: 2 bed terraced Lowestoft, Norfolk.

Figures: Property value £80,000. Mortgage plus secured loan £47,000. Including £2,500 arrears.

Vendor needs: Move into rented. Take away mortgage problem, relieve the stress! Needed £4,000 to make this happen.

Deal agreed : £51,000 for the house. £4,000 on exchange to allow him to move out. Happy to accept a “delayed completion” with us to pay the mortgage payments (£400 per month). Solicitors put this in place and vendor moves out on exchange.

Result: Satisfied customer. “Win Win”.

Property now sold to investor and profit of £15,000 (after costs).

 

Deal Two

The Elvis Fan! (and thimble collector).

Situation: Stressed about high mortgage payments (£900 per month). Self-employed and no guaranteed work. Had tried to sell through agents but lost buyer (at £135,000) due to chain break.

Property: 2 bed bungalow Gorleston, Norfolk.

Figures: Property value £140,000. Mortgage £79,800. Repayment with 6 years left.

Vendor needs: Move into mobile home (no mortgage payments). Take away mortgage problem, relieve the stress! Needed £28,000 to make this happen.

Deal agreed : £108,000 for the bungalow. £28,000 on exchange to allow him to move out. Happy to accept a “delayed completion” with us to pay the mortgage payments (£900 per month – deal actually agreed as balance of mortgage after exchange funds and mortgage payments made (reducing balance by £600 per month)). Solicitors put this in place and vendor moves out on exchange.

Result: Satisfied customer. “Win Win”.

Property now sold through our Creative Estate Agency and profit of £22,000 (after costs).

 

Deal Three

The reluctant landlord.

Situation: Owns a studio flat in Sheringham. In arrears. Lost his job. Flat tenanted but needs a refurb. Trying to look after disabled grandchild but needs financial help.

Property: Studio flat in Sheringham.

Figures: Property value £60,000. Mortgage £38,000. Interest only 15 years left. In arrears £700.

Vendor needs: Property classed as an asset. Therefore gets no financial assistance from Council for very expensive care needs. If property sold at a profit this will be used first. Can’t afford to refurb and behind with payments. Just wants out of property to focus on child.

Deal agreed : £38,000 for the flat. Property controlled with £1 option. We also make £75 per month mortgage payments.

Result: Satisfied customer. “Win Win”.

Property now being sold through our Creative Estate Agency and potential profit of £22,000.

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We will be posting a second blog update shortly with Stuart’s other deals going on, so make sure to sign up to our RSS feed!

If you want more information on the partnership programme, or to watch a recent interview that Glenn did with one of his partners, click here:

http://www.glennarmstrong.com/blog/financial-freedom-here-we-come-stuart-roffey/

 

 

 

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