Gerald from Wales, an experienced investor with a keen eye for a good deal, needed a sum of money to exercise an option over land for a development opportunity.
That was part of the reason he wanted to sell his portfolio of 8 modern houses held in a limited company for a seven-figure sum. Naturally, he wanted to do that in the most tax-efficient way, without breaking the rules. He also wanted to be in a position to retire in the not so distant future.
We agreed a 6 year contract which gave him exactly what he needed upfront, and a tax efficient, staged purchase of the company shares over the term.
In real terms the deal meant Gerald could turn a substantial profit on the land, and saved over £70,000 in taxes on the sale of his portfolio…legally!
Do you want to quickly and easily release a sum of equity from your property portfolio? Please talk with us today.
Nikki from Solihull got in touch with a request for us to look at her portfolio of 4. We had been recommended and Nikki knew Sell My Property Portfolio specialised in buying problem portfolios. She wanted to ‘test us out’. The properties she initially offered could easily have qualified as the four ugly ducklings of property investment.
After some discussion and a preliminary offer for the four ducklings, Nikki confessed to a much larger property portfolio and put her other properties on the table. Now we had 15 properties to consider, with about 300 miles between them!
A new offer was put together in short time and within a few weeks of the initial contact we had full management of the portfolio. Although sale contracts have been exchanged completion will follow at a later date.
Nikki was delighted to get a chunk of equity released very quickly. She was also relieved and pleased to get the needed space and freedom to focus on her booming IT business and family life.
Here is what Nikki says about her experience with Sell My Property Portfolio:
“I have been working with Mark and the team at Sell My Property Portfolio and Welcome Homes now for over 6 months. I decided to lease to sell a portfolio of 15 properties and since I made that decision, they have made the whole process incredibly easy.
Mark and his team have done everything possible to make my life easy, including ensuring that my legal costs were as low as possible and contacting all of my Letting Agents and tenants about the change in management to save me the effort. They also spent a lot of time with me throughout the contracting process and were happy to answer lots of my naive questions and concerns to put my mind at ease.
I have found everyone at Sell My Property Portfolio to be refreshingly open, honest and fair in all of their dealings with me and can recommend them 100% to anyone thinking of selling their portfolio.”
Are you thinking of selling your property portfolio? If so, please contact us today!
A successful Doctor and his wife, also a doctor, recently came to us with a portfolio of 7 flats, a few in London, and the others scattered across England. Due to the busy nature of their lives, the demands of their profession and their 4 children, it was proving difficult for them to manage the portfolio well.
High agent fees, stagnant values outside of London and poor tenant choice meant that rather than creating an additional income stream the portfolio was a drain each month. Although there was equity across the portfolio as a whole, the values of the units outside of London had never recovered after the crash and some units were still subject to a hefty early redemption penalty. The end result was a loss of peace of mind, monthly subsidies and no clear exit strategy.
The solution was an immediate cash payment to the vendor upfront, and a purchase scheduled over a 10-year period. The written agreement was tailored to ensure early redemption penalties were avoided and Section 24 is dealt with so as not to affect their tax position. Rental income from each unit was increased and under the agreement we cover all on-going running costs.
In the future, capital gains tax liability will be reduced through legitimate application of personal allowances. Management throughout the contact term until the sale completes is carried out by our in-house asset management team, which means more efficient running costs, good tenant management – and lasting pain relief for the two doctors.
If you are in a similar situation, please don’t hesitate to get in touch here.
A problem property portfolio was wreaking havoc with the peace of mind of a part-time landlady. She was certainly not enjoying the challenge. Having found us through Google, she got in touch and openly explained the difficulties she was facing.
Having acquired four residential properties during the boom years, she was now struggling to cope and had reached breaking point, financially and emotionally. Good intentions and enthusiasm had proved insufficient to deal with the very real problems property can bring. Her situation had become serious.
Her desire and need to sell the property portfolio was blocked by a mix of negative equity, rent and mortgage arrears and the poor condition of her properties. Here is a brief overview of her situation when she came to us:
Problem Property 1: Vacant and in substantial negative equity. Mortgage arrears meant the Lender was eager to repossess and the hearing was set for just a week away. A new boiler and some refurbishment was badly needed if there was to be any chance of attracting a long term tenant.
Problem Property 2: This one was tenanted, but high service charge arrears had borne another court case.
Problem Property 3: Vacant and neglected and sad.
Problem Property 4: Tenanted but unloved and sporting serious rent arrears.
The investor was one step away from seeing her problem property portfolio push her over the edge. She faced losing property number 1, leaving a shortfall she would have no hope of covering and the unpleasant prospect of a forced bankruptcy. She was trying to carry a negative cashflow of £1,150 a month across just 4 properties.
As soon as we were confident we were able to help and our strategy was clear and agreed on all fronts, we put in place an agreement for each of the 4 properties and started working on the portfolio.
Problem Property Number 1: We started negotiations with the lender immediately and attended the court hearing as an interested party. The landlord was delighted to learn after the hearing that we had stopped the repossession – she wasn’t able to attend personally. Monthly mortgage payments were made regularly, stabilising the situation and with a new boiler came excellent, long term tenants.
Problem Property number 2: Service charge payments were made and the property was protected from forfeiture.
Problem Property number 3: This little home is no longer vacant and sad, but has new and settled tenants.
Problem Property number 4: Now with paying, appreciative tenants
Sally says: I was able to switch off and travel abroad to immerse myself in nursing – free of what had become a burden. I couldn’t see any way out until I spoke with Mark and his team. A huge thank you from me!
Are you, or somebody you know, experiencing something similar? If you are dealing with challenges across your own property portfolio, and would like to sell, then please get in touch today for a confidential no-obligation property portfolio review.