Let Us Help You Find The Best Deals, While You Profit…
Mightystay Property is a real estate company located in the United Kingdom, with the sole purpose of sourcing and making available great investment properties to busy professionals. There are a lot of variables to be considered when it comes to investment properties. This is exactly why we’re here – we help you do all the due diligence.
We can help you secure investment properties with returns of at least 20% in the UK – for real. Our team is made of professional and reliable property managers, financing specialists and home stagers with years of experience in property buying and selling related processes. Our strict criteria for property evaluation ensures we only pass high-valued assets to our investors.
At Mightystay Property, we’ve developed strong relationships with real estate agents all over the UK. This has enabled us to be informed of great property deals, even before they hit the open market. More still, we receive multiple offers for a lot of properties at discounted rates for a quick sale, properties in need of refurbishments, as well as lease option opportunities at ridiculously discounted rates.
We don’t just deal on any property – there is a strict sourcing criteria for all deals.
Here are a few criteria properties must meet before we can consider it:
1. Good Condition
The importance of any investment property being in good condition can’t be overemphasized. We’ve an inspection guide that all our property agents must abide by when searching out new properties for investment. We ensure that all properties are in top shape before recommending them. Properties that require just painting and other minor works are accepted. And we will always disclose this prior to the sale. We’ve established strong relationships with expert tradesmen, and in most cases, they provide us with competitive quotes for repairs. We also make this available to the investor before the sale of the said property.
2. Minimum of 4 Lettable Rooms
Our aim is to ensure that, as an investor, you get the highest possible return from your investment. As a result, we only source for properties that have at least 4 rooms to be leased. Nevertheless, we can still consider other properties with high purchase price, provided the ROI is 20% minimum. But usually, we aim for 30%.
3. Walking Distance From the City Center
The property must have a maximum of 15-20 minutes walking distance from the city center. This is to make it easier for inhabitants without a car to easily access the city center. However, we can still help, if your property doesn’t meet this criteria, so let us know.
4. Must Meet HMO’s Minimum Standard For Each Lettable Room
All investment properties must have rooms that meet the minimum standards for rental income – room size must be typically 6.5m2 or 70 sqft.
5. Local Standby Management Team
Before we pass along any property to investors, we make sure that there is a local management team for the said property in the area, to help with letting and other property management services. For instance, if we pass on a studio apartment, we’ll have a flat manager on ground, who understands the vicinity and is confident the property will let. We also have legal teams, builders and mortgage brokers on ground awaiting for instructions.
6. Other Criteria
At Mightystay Property, we aim to bring you only highest quality unfurnished apartments, run-down property, studio flats, newly built or renovated apartments, 2-level flats to 3-bedroom flats. If a house is not top quality – we won’t offer it for sale.
When our agents provide us with lists of properties that meet all the above criteria, we will now investigate further to determine the ‘rental worthiness’ of them.
Our investigation will include the following:
- Speak with letting agents in the area and other investors to know their thoughts on the said property; whether it’s in a good location, the rental demand, rental income, competition, etc. If, for any reason we suspect that the property will be a headache to let or it’s in a poor location, then we walk away. The interest of our investors is our utmost concern – We will never pass on any property with potential rental demand problems.
- Confirm the true value of the property; compare prices with other properties in the area and check online resources for true market value of the property. Sometimes, we’re happy to pay the asking price if everything measures up, provided the property will offer a great return on investment.
- When it comes HMOs properties, our builders will provide us with estimated quotes for conversion purposes only – we want to make sure the property is in compliant with licensing rules. The quotes are never the final figure for conversion, and should not be mistaken as such. We will also confirm the licensing fee from the local authorities, if need be. Once everything checks out, and the property has high potential, we will now pass the deal to our investors.
Note – We would never pass any property to our investors, unless we’re 100% sure it’s a good deal.
Company Registration Number – 11971701
Property Redress Membership – PRS021167
ICO Member – ZA698266
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