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The monthly magazine providing news analysis and professional research for the discerning private investor/landlord

Almost Beyond Repair

Property developer Phil Stewardson underlines why buying ‘smelly houses’ can give a good return but those with a more sensitive disposition may well prefer to turn to the next page

Our longstanding approach is to buy properties quickly and as a result we extensively advertise our services directly to potential vendors, something that regularly brings in interesting opportunities from 'off-market' properties.

Back in July we had an enquiry from a lady who told us her partner had inherited a house from an aunt that was deemed uninhabitable and they wanted to sell. She told us the property had a rat problem, which was made all the worse by the aunt feeding the rats!

Personally speaking, I have a huge fear of rats, so I was relieved to hear that the nephew had hired a pest controller to eradicate the vermin.

After hearing that I wouldn't come face to face with any rodents, I arranged a viewing for later that afternoon. However, when I arrived at the property my fear soon returned when the vendor simply opened the front door for me then said: "Help yourself, I'll wait here."

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