The demand for residential properties is so high in London that there is a huge amount of competition between investors, so it is important that investors have a suitable strategy to help them secure the homes that meet their criteria.
You Spot Property have a particularly interesting business model. The company encourages spotters to look for empty and derelict homes across London and notify them about ones they find. For each house that meets their criteria they offer the spotter £20 of Amazon or M&S vouchers. If the company makes a purchase after receiving a tip they will pay the spotter 1% of the purchase value.
The strategy is unique and can provide many advantages for the company, including dramatically increasing their ability to monitor the market across the capital. They have received thousands of tips and managed to purchase hundreds of houses as a result. All of them have been inside the M25 and were empty, derelict or rundown when they were purchased. Each one is duly regenerated so it can be returned to the market and become a new home.
The biggest benefit of this sort of strategy is that properties can be purchased off-market. This dramatically reduces the level of competition and means the investor can stand to pick up a bargain. It can also offer benefits for the current owner, saving them from auction and estate agency fees.
At Finefair we understand how much effort investors put in to finding suitable properties. It is because of this that we created our own portfolio management service for our clients. When we look after assets for a client we will actively monitor the market and notify them when we see a property that fits their criteria. We work hard at this so that we can give investors the information they need quickly, in turn ensuring they can get ahead of their competitors. If you would like to find out more about the great services we offer and our approach to finding the best Kensington and Chelsea investment properties for our clients, please contact us.