Welcome to Shanta Letting Newsletter July 2017. This month we will show an example of an off market buy to let property we sourced for one of our landlords, provide a podcast link for resource of the month and discuss our current available properties.
1 Bedroom, Tenement Flat, Ark Lane, Dennistoun, G31
This month we sourced two off market properties for two of our current Buy to Let landlords who were both looking to add to their current portfolios. One of them was in the thriving Dennistoun area of the East End of Glasgow, which is roughly one mile from the city centre. The particular property is on Ark Lane. We already manage a property in the building and the landlord approached us directly to say she was thinking of selling. Knowing the popularity of the area, how well the properties rent out, not only due to proximity to city centre but to the University of Strathclyde and Royal Hospital we presented the opportunity to one of our landlords who had already met with us to give us their specific requirements for their next purchase. A purchase price was agreed with the seller of £60,000 which was the home report value. From there we invited the current tenants to stay in the property and they signed a new 6-month lease at £525pcm the day the property completed.
Gross Purchase Price – £60,000
Gross Yield – 10.5%
This was an excellent deal all round as the new landlord was able to generate income from Day 1 of ownership, the tenants were able to stay in a property that they had lived in for over a year and were happy with and the seller achieved Home Report Value for her property without having to pay listing fees.
If you are an investor looking to expand your portfolio in Glasgow get in touch to book in for a free hour consultancy with Managing Director Mark Shanta. Contact firstname.lastname@example.org
Resource of the Month:
Mark Shanta Interview with Bricks and Mortar Podcast
This month, Mark was interviewed by Jonathan Williams at the Bricks and Mortar Podcast. The discussion takes you through Mark’s journey from student to trainee accountant to poker player to buy to let investor to letting agency owner and where we are today with Shanta Letting. It is 75 minutes long, but we think there is some interesting content in there. Find it on Itunes:
Currently we have available properties, you can see them on our website www.shantaletting.co.uk/properties
If you are interested please contact Property Manager, Jayne Holmes, email@example.com or 0141 255 2828.
Onslow Drive, Dennistoun
Stobcross Street, Finnieston
Merton Drive, Hillington
Walter Street, Haghill
Herald Way, Renfrew
Quarry Street, Hamilton