We buy UK properties for cash. If you have a property or a portfolio to sell, and you are looking for a fast painless transaction, then we might be the buyers for you. We deal in a range of properties but are particularly interested in those hard to sell properties that may require a bit of extra work.
Our investment strategy is cashflow. We buy below market value. Refurbish the property. Tenant the property. Then give the property to a reputable letting agency to manage. The incoming rent pays for operating expenses, letting fees and the interest on the mortgage. The property is then self funding, allowing us to draw the excess rent as passive income.
Choosing the right property requires research and on the ground knowledge. There are various facts and figures that separates a worthwhile property from a dud. But even when the figures add up, there could be local factors that can cause surprises. We therefore use certified local agents to vet all our property deals.
Before buying a property, we undertake a survey and various council and legal searches. This will confirm or negate any potential problems associated with the property. We do this with all our properties.
If the property passes all our stringent tests, surveyor's report and legal searches, we will then orchestrate the exchange and completion of the title through one of our UK lawyers.
Buying below market value (BMV) allows room to add value via refurbishment. We use vetted builders to organize the refurbishment of the property. Refurbishment creates equity, which can then be used to buy the next property.
Today's UK financial market has become increasingly stringent when it comes to lending. It is particularly hard against foreign investors. Lenders want to see a UK credit history and a UK tax statement. Mortgage underwriters also want to see a 2 year track record of managing a tenanted property. Having a UK limited company eases access to the UK mortgage markets, but there are no guarantees.
Our introduction to the world of property investment and the unique opportunities it entails began as a general course on investment. We were shown how property can be leveraged to provide growth and yield. Executed well, property can provide passive income to supplement or replace existing income. Following their education we were shown how we could achieve financial freedom.
Next we formally educated ourselves with a highly reputable property education firm. We attended courses in Switzerland and the UK. We learned specific core competencies including goal setting, strategy development, area selection, lead generation and marketing, property analysis and deal assessment, portfolio management and running a business. But property is not just about what you know, a large part is who you know, and there we invested a lot of time networking and vetting the right connections.
Paget Property Investments Ltd. was born. The best vehicle to acquire a mortgage in the UK is a limited company. It reduces the tax burden while also allowing us as overseas property buyers to obtain a mortgage. Paget Property Investments Ltd. is a small company which relies on distributed services from a team of experts in accounting, brokering, foreign exchange, property sourcing, surveying, conveyancing, and letting.
Using the knowledge gained and network of expertise we were able buy our first property. As part of our due diligence, the deal was fully analyzed and itemized before we invested. On completion the result matched the projected returns.
We buy properties for cash.
Technical and Finance Director
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