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  • Deal Finding

    Bagging property bargains under £65K



    Recent research carried out by AI-powered property investment portal www.oneandonlypro.com has identified the best places in England and Wales to find a buy to let property for under £65,000.  

    The site’s unique algorithm identifies the 'Diamond' properties most likely to increase in value, which means that even the most inexperienced investors are guaranteed a healthy return whatever their budget.

    Darlington takes the top spot where 22% of properties with a price tag under £65k have been awarded Diamond status. The average price of a Diamond property in this market town is £56,468. In second place is Burnley, with 21% of properties within this price bracket achieving the highest score, and the average Diamond property costing just £37,210.

    Bootle and Grimsby, where buyers can secure properties with top marks for investment potential for an average price of £53,278 and £56,188 respectively, made third and fourth places. Fifth place went to Bradford with an average Diamond property price of £64,681.

    The North East continues to dominate the remainder of the table, with Sunderland, Middlesbrough, South Shields and Hartlepool, securing the next four spots. Keighley, where the average price of a Diamond property is £64,268, took the final place in the top ten.

    Town

    Number of 10s

    Percentage of 10s

    Average price of 10s

    Darlington

    19

    22.353

    £56,468

    Burnley

    125

    21.215

    £37,210

    Bootle

    45

    21.635

    £53,278

    Grimsby

    114

    18.781

    £56,188

    Bradford

    40

    17.467

    £64,681

    Sunderland

    224

    16.507

    £63,056

    Middlesbrough

    208

    15.227

    £54,573

    South Shields

    75

    10.869

    £51,383

    Hartlepool

    3

    6.122

    £45,000

    Keighley

    29

    4.022

    £64,268

    Property expert and CEO at One and Only Pro, Henri Sant-Cassia, shares his advice for property buyers with a budget: "When looking for real market bargains, patience is key. In some circumstances, sellers will be looking for a quick sale and much more open to negotiation. In these cases it may be possible to secure a 25% discount.

    "Empty properties can make perfect buy-to-let investments and there are deals to be made if they aren't generating an income for the current owner and have become a burden. If the property requires refurbishment, vendors will also need to price competitively to reflect this. Fixer uppers are often portrayed as an instant win but tread carefully here. These can be time-consuming projects and this will be reflected in the building costs involved. Calculate the additional investment required and know the ceiling price of the property. Arrange a survey to uncover any hidden problems and factor in any further costs that this may incur. Another drawback attached to a fixer upper is that many mortgage companies will not give a mortgage on a property that requires a substantial amount of work and ones without an existing kitchen or bathroom are often deemed inhabitable. In these cases, it may be worth seeking a specialist mortgage or bridging loan to finance any work.

    "Buyers able to quickly finance a deal could find a bargain at an auction and this is certainly worth exploring when it becomes a buyers' market.

    Sant-Cassia adds, "For any deal, don't forget to take into consideration the market. External factors, such as Brexit, could help you find a perfect property at the best price. Never feel pressurised to increase your offer if you aren't comfortable with the figure. Sit tight and wait for another opportunity to arise.

    "Finally, as the results from our recent study show, always remember location, location, location!"

    One and Only Pro predicts which properties are most likely to see the highest yields and capital growth, using a mathematical analysis to provide investors, lenders and mortgage brokers with an easy to understand scoring system, allowing them to identify the best deals on the market. The unique algorithm shows the properties most likely to increase in value and demonstrates potential yields, providing highly valuable information, at the touch of a button.

    The website features thousands of available properties which users can compare and contrast using a range of innovative AI-powered features, including capital appreciation, potential scores and rental yields. It already hosts over 210,000 opportunities, almost 9,000 of which are below market value, with almost 25,000 listings yielding higher than 7%.

    For more information visit http://www.oneandonlypro.com 

    *Transparency notice:  OneandOnlyPro is a commercial partner of Property Tribes.

    SEE ALSO  -         Where is the cheapest house in England?

    UP NEXT -             Where is cheapest place to buy a property that has the fastest time into London?

    DON'T MISS -        Property bargains - using images for clues

    NOW WATCH:

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    [Image: 4995468760_6be86655d4_t.jpg]
    general operations director, site owner and moderator - propertytribes.com

    Good thread Nick.

    In the NorthWest  for some time we have been picking our areas and buying at £35k-£40k in poor condition, avoiding the 3% stamp duty. In our target areas these are getting hard to find because whereas they were fetching £65k done up, they are now £85k-£90k.

    We love this strategy because we cant build them for that cost, the plot is pretty much worth that. It does involve really doing a lot of DD but if you get it right, they are a great return and bargain buys. Our 'hot-list' map is now fine tuned, down to individual streets in target town.

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    Phil Stewardson.

    Stewardson Properties.

    Stewardson Developments Ltd.

    Burson Land Ltd. & Jennings & Gilchreaste Ltd.

    http://www.stewardson.co.uk

    Follow me on twitter - @philstewardson

    I'd like to know more about what data one and only use and over what period they use to build their models. I think it's a great idea - but I want some reassurance that they use the same sort of data as i do to look at a property's potential.

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    Hello Mr Paye

    Thank you for the question, we build our model around the concept of scoring a property out of the rating of ten.  When generating our data, we take many factors into account such as fiscal policy, interest rates, bank rates, historical data, local and current market trends.

    All these factors contribute to the overall scoring of each of our properties, which in turn allow us to locate the best areas for our investors to invest in. In this case it was for properties under 65K.

    I have shared one of our YouTube videos where Elaine discusses this, which you may find helpful.

    Hope this answers your question.

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    Sorry but website, just doesn't work.Put in Durham within 1/2 mile give me sunderland or Darlington? How can you charge a fees for this site?

    Live chat is even more useless thans the site IM OUT

    Why are pt partnering with companies like this?

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    Property Tribes turns down many advertisers - mostly from the "wealth creation" sector or those with known issues surrounding them - and we partner with companies after doing DD on them. 

    We thought OneandOnlyPro had a lot of potential.  However, there have been many teething problems as pointed out on several threads here.  That is good for community due diligence as it creates awareness of potential problems and also assists the advertiser in improving their proposition. 

    Like all our advertisers, O&OPro have been accountable to this community and answered the many robust challenges they have received.  Again, that transparency is a positive thing and I don't think you should be so dismissive of the service this offers to the community.  You can learn a lot about a company as to how they respond to a challenge - that in itself is a form of DD.

    The low monthly subscription of OneandOnlyPro makes it low risk to anyone wishing to trial it.  Its a far different proposition to paying £20K upfront for a mentoring programme!

    Furthermore, the terms and conditions of this site clearly state that Property Tribes is not responsible for anything that you learn or take-away from this site.  It's a free platform and you use it at your own risk although the moderator does everything possible to keep this platform as safe to use as possible and we have a number of safe-guarding protocols in place.  The community discussion helps to mitigate that risk though, as something being discussed in the open offers far more protection than not being discussed at all.

    As it happens, OneandOnlyPro are leaving PT as a sponsor at the end of this month so its all a moot point now, but the threads will remain and people can read them, try OneandOnlyPro, and make up their own minds ... which is healthy and exactly how it should be.

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    Hi Law

    Thank you for visiting our portal and thank you for your comments.

    The reason properties in Sunderland and Darlington where displayed was because currently we do not list any properties in Durham.  It did explain this on the page.

    https://www.oneandonlypro.com/property-f...&auction=0

    We apologise that your experience with our live chat was not to your satisfaction.  Having looked into the matter two members of staff did try their best in assisting you with your technical difficulty.

    Over 90% of the properties and features on the portal are available to all users which you do not have to pay anything for.

    If you like the look of what you see you can then upgrade to a 7 day free trial period.

    Only if this impresses you further should you pay or start to be charged.  There is no risk to the user.  We have hundreds of paying members with very few complaints.

    We are a property investment company who created this inhouse software for ourselves which we have now adapted for the public.

    The software is built to find the highest yielding properties and below market value/properties which should increase in value through the assistance of algorithms and data processing.

    We are constantly looking to improve our offering and technology.

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