DEAL 1: DERELICT PROPERTY TAMWORTH

On Monday 1st September 2025 we went to visit a derelict property in Tamworth. I had booked the viewing with the managing agent a few days prior. Key details prior to viewing:

1. This was a probate property.

2. A previous offer above the purchase price was accepted. However, the buyer did not complete and it was relisted on the market.

3. The property had gained significant interest, however, we needed to move quickly to secure the property at the right price.

WATCH ME VISIT THE PROPERTY BELOW

As indicated in the video, after viewing we came to the following conclusion:

1. The renovation of the property would cost £43,804

2. The estimated timeframe for turnaround was 4 months

3. The estimated end value based on valuation agents and comparable property was £175,000 to £180,00

THE OFFER

We decided on a first offer of £105,000 with an estimated maximum bid of £110,000

CALCULATIONS

End Value: £180,000

Refurbishment Cost: £43,804

Stamp Duty & Legal Fees: £6,900

Purchase Price: £105,000

Strategy: Fix & Flip

Investor Profit: £24,296

OFFER ACCEPTED

As seen in the video the revised offer of £108,000 after the managing agent come back to us was accepted.

The next step was to create a deal pack to be posted out to investors. Here is what was created as a deal pack to be given out to investors.

WHAT NEXT

Now we have the investors due diligence pack, it was over to Steve Hamilton to work his magic and sell the deal to investors.

Why not me? to be a compliant deal Sourcer in the UK you must be registered with the AML (Anti Money Laundering Scheme), have professional and public liability insurance, have a GDPR code of practice in place (register with the Information Commissioner's Office) and be registered with the property readdress scheme.

I do not have these in place as this is my first deal. Therefore, i can do the initial work but i am not able to deal with investor funds or personal data.

Also, property professionals with a decade of experience such as Steve have a pool of clients. Therefore, it makes sense as a start out co-sourcer to pass this onto Steve and he can work his magic.

Thursday 4th September 2025

I got a message from Steve at 08:38am.

"Hi mate, i have someone interested in the deal. Please can you update the end value details to say £160,000 - £180,000 based on the valuation officers information and also amend the heading for Bathroom.

I reply, sure thing. Deal pack sent over.

Later that day...... 13:05 i get a phone call

JAMES I HAVE SOLD THE DEAL FOR £2000 !

Now you need to send over the compliance documents, emails and vendors details to the buyer. This is to ensure they have a smooth purchase.

All details sent over and bang DEAL SOLD !

Company Number: 16592883

Discreet Property Sales Limited (16592883) is the subsidiary of Preston Capital Management Ltd (16588141). Partnered with PR Trade and Transport Services Ltd.

Registered Address: 3 Warren Yard, Wolverton Mill, Milton Keynes, England, MK12 5NW.