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Tag Archives: Blodwen Street

photo of blodwen st property with Completion written on it

We received the completion* confirmation email from the solicitor today! This is the 2nd property in this JV, and our 3rd property completed so far. *For non-UK readers, completion here means we have paid the full purchase price and the Title will now be registered in our name. 

decision

We had some interested parties in the last 3 units of this JV, however we had to make a decision on how to proceed today. We had to give them deadline to get in by 9am UTC time, as we had a deadline to meet ourselves. A bit of pressure applied, which can help for some people to make a decision, and to give us some certainty with the current deal. Unfortunately we didn’t hear from them by that time, which is a no, so we moved forward with the alternative, which makes the returns much better for the initial investors, so great all round. These potential JV partners could now be in the queue to get into the next opportunity that we create.  

Text: Decision to Invest. Picture: Front of property blodwen st

A nice little flip came through today, with a tidy profit margin, perfect to finish the Invest 1 plan off so we decided to take it up, as the numbers work.  This property would make a great Buy To Let (BTL) however the current strategy calls for a flip at this time, so we are going with that as Plan A, will make a good rental as plan B, although yield won’t be as good if we spend the renovation budget on Flip. The property is in Port Talbot, already analysed the area for Gwendoline St, a familiar area, with varying neighbourhoods from low end to high end.  It is about 15 minutes from Swansea and we have another property a few hundred metres from this one.  We also now know of 2 others in the area and have visited this area a lot, so very familiar. Some area stats…

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Port Talbot Google map screen shot

We have a property in Port Talbot to access, this is an unfamiliar area, so here is my full area analysis. Port Talbot has varying neighbourhoods from low end to high end.  It is about 15 minutes from Swansea, with a fairly large population. The following are some area stats from my favourite source, Zoopla: Area average price: £82,747 (terraced) The area has a lower than average crime rate, possibly due to the large employer in town being the steel works. There are a lot of single individuals and single parent families in the area, so the HMO strategy should work well here.  Blodwen Street will not be as easy to sell due to the lower numbers of first time home buying families, whom we will target, but there is a market for it. The area is typical of a large, low skill or medium skill level employer (the steel works)…

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