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Keeping It Simple

Stewart Stabands comments

Generally, I like to keep things simple. Find a property and make an offer, either Below Market Value (BMV) or based on adding value in some shape or form. I've used option agreements and done back-to-back cash deals but I tend to stick to traditional methods of buying
and selling.

Take my first deal of the year in March - a two-bed end of terrace ex-council house in Bromley requiring full refurbishment. In its current condition it's worth £180,000 and after works I expect it will achieve £210,000. I made an offer of £143,000 based on exchanging contracts within a week.  


  • Refurb costs £16,000
  • Private finance (over 6 months) £10,725
  • Legals for purchase £1,800 (buyers & seller)
  • Legals for sale £800
  • Estate agents fees £3,780
  • Stamp duty £1,430
  • Contingency £1,600
  • Total £36,135
  • G Profit £30,865

This is a corner plot house with a large 'L' shape garden and garage. Now, I do believe it's worth getting my architect down to see if there's any chance of building another house there.

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