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  • Landlords in Distress

    How to spot "Landlords in Distress"/selling?

    Hi

    I recently relocated back to England with my wife and our little one after living in Dubai for the past 21 years. Im a full time and active property investor who has a passion in finding great deals adding value and flipping properties.

    Currently living in the west Midlands, Stourbridge, very new to the area and market here hence, would like some tips from experienced investors how can I source properties from motivated sellers.

    I prefer to buy properties in my local area so anywhere within an hour drive from my radius and my budget is 100k outright preferably free hold houses .

    Thanks !

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    Welcome back to the UK and also to Property Tribes.

    There are a number of ways to find landlords and sellers who might sell at a discount.

    One way is to build a relationship with local lettings agents and ask if they know of any landlords selling up.

    Another would be to speak to accountants who deal in property tax, and who might have clients selling up due to Section 24.  (I should charge for that tip!).

    There is also the Vesta platform which sells properties with tenants in situ.

    Here's some further suggestions:

    10 tips for spotting property deals others might have missed.

    Property bargains - using images for clues

    Top 10 Property Tribes resources to learn how to find property deals

    There are plenty of networking events in your area, so perhaps make up a leaflet saying you are on the hunt for a property and you are a cash buyer, and drop the leaflet around the room when chatting to people.

    That's just off the top of my head for starters, but I am sure I will think of some more and hopefully others will input as well. Smile

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    Finally I managed to find my post . I was searching for it for a while I couldn’t find it for some reason. Yes Thank you Vanessa ! It’s  great to be back. And I’m glad I joined Property Tribes. All these tips for free looks like you are a real passionate investor . How can you not be, from  MTV presenter, now professional landlord, entrepreneur, property consultant/speaker, founder of Property Tribes forum & Community Management Consultant.

    How luckier can I get , getting advice from you . Let me know whenever your around in the West Midlands and I’ll invite you for lunch or dinner  Smile

    Once again thanks a lot for the info and details !!!

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    Hi @localinvestor

    Quick question for you - were you investing in UK property when you were in Dubai? My husband and I have been in Dubai for 4 years now and want to invest in some UK property and build a portfolio - just wondered how it worked for you if you were doing it when you lived over here in the UAE

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    Hi Tiffanyb7,

     I just have 1 buy 2 let in London. While I was in Dubai all communications were done by email with the letting agency. Even documents to sign like contracts etc. were all done by email. Rent would be transferred to my UK bank account. And from there I would allocate a budget for maintenance and transfer it to my maintenance account.

    The letting agency only advertises the property for rent. And makes viewings. And does all the paper work.  But we have a handyman so whenever the tenant needs anything will have the handyman sort it out. However, you can have it fully managed by the lettings agent if you want to, but you pay extra.

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