Property Investors Beware!!
There is a simple check that all property investors can make that could save hundreds if not thousands of pounds, yet so few do.
This check hopefully will be facilitated by your solicitor but by then you may already have spent a lot of money on fees.
The check I am talking about is flood risk, it may not be your first check when you invest but it should be one of your must do’s!
Let me give you an example of a recent investment we were offered.
At Rescue my Pension our sourcing team is offered deals on a daily basis. Some of them appear to be very attractive, but because we do our checks we only accept about 1 in 10 deals.
A contact who has previously presented us with some very attractive deals advised us of an investment. The property in question had a great yield, was way below market value and located in Gloucestershire. Fortunately one of the 50+ checks we make on every single investment is the flood risk and it transpired that not only was the property at risk but it had been several feet underwater only a few years ago.
Luckily the check was carried out at an early stage of our assessment and only a few hours had been lost.
Our property investors are well protected. In our due diligence pack, (The Big 50 Report) we offer a link to the environment agency so they can check for themselves.
If you would like to see an example Big 50 Report or you have any other questions about our checks call 0207 148 3164 or book a time to speak with one of our asset managers