Park Court, Joubert Park, Joburg

Price: R165 000.00

Rental Income: R2052.00pm with current tenant (potential R2400pm) month to month contract

Levy: R736pm
Size: 77 sq meters
Description: Large One bedroom flat, Kitchen, bathroom
Address: Unit 33, Park Court, 50 Twist Street, Joubert Park, Johannesburg.

Cash Flow Positive Property Investment.

Body Corp with healthy financial state. Flat can be financed. Central location. Near new bus stop.

Don't wast time on this one. First come first served.

Contact me for more info.

Cell: 072 838 6854
Email: colin@prevent-repossession.co.za

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Cash Flow Positive Bachelors Flat - Sunnyside, Pta

Karee

Price: R155 000.00

Rental Income: R2200.00pm (with current tenant)

Levy: R608pm
Size: 36 sq meter
Description: Bachelor flat, Kitchen, bathroom, under cover garage
Address: 420 Leyds Street, Sunnyside, Pretoria

Cash Flow Positive Property Investment.

Very popular suburb of Sunnyside in Pretoria close to CBD and transport. Popular location with walking distance to all businesses in Pretoria.

Don't wast time on this one.

Contact me for more info, this one will not stay for long:

Cell: 072 838 6854
Email: colin@prevent-repossession.co.za

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Van Riebeeckhof, Vanderbijlpark

Price: R200 000.00

Rental Income: R2400.00pm
Levy: R525pm
Size: 71sq meter Flat and 18 sq meter garage
Description: 2 bedroom flat, 1 bathroom, Kitchen, Lounge/dining, garage
Address: 202 Van Riebeeckhof, Ferranti Street, Vanderbijlpark

This flat is a special situation. The outstanding mortgage is R320000.00, but the owner is willing to sell for R200 000.00 with banks approval and sign a 'acknowledgment of debt' with bank for the shortfall. The flat was bought in 2007 for R250000.00!

Contact me for more info.

Cell: 072 838 6854
Email: colin@prevent-repossession.co.za

Click on map footnote 'View Larger Map' to navigate and zoom in or out. Arrow shows the location.


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Investment Property for Sale - Cash Flow Positive!

Mont Blanc

Price: R352 000.00

Rental Income: R4500.00pm (with current tenant so no maintenance just continue as is)

Levy: R750pm
Size: 84 sq meter
Description: Subdivided 4 bedroom flat, 1 bathroom, Kitchen, garage
Address: Visagie Street, Berea, Pretoria

Great Yielding investment property that pays for itself. Cash Flow Positive Property Investment. The 'ideal property investment' if you ask Dr Hannes Dreyer, local property guru.

Great location in center of Pretoria CBD and transport. Popular location with walking distance to all businesses in Pretoria.

Very good rental income, cash flow positive! Not many of these around.

Contact me for more info, this one will not stay for long:

Cell: 072 838 6854
Email: colin@prevent-repossession.co.za

Click on map footnote 'Visagie Street, Pretoria' to navigate and zoom in or out. Balloon shows the location of Mont Blanc.



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Investment Property for Sale - High Rental Income Flat

Terral Court

Price: R400 000.00

Rental Income: R4200.00pm (with current tenant so no maintenance just continue as is)

Levy: R812pm
Size: 72 sq meter
Description: 2.5 Bed, 1 bathroom, Living area, Kitchen, car port
Address: c/o Reitz & Relly Street, Sunnyside Pretoria

I have sold a similar flat in the same block in January 2009 for R395k! This price is still well below peak of R440k in 2007. Great Yielding investment property.

This is a solid block with positive finances. Great location in quite area of Sunnyside, close to Jacaranda Hospital and transport.

Very good rental income and can be increased in 2010.

Contact me for more info, this one will not stay for long:

Cell: 072 838 6854
Email: colin@prevent-repossession.co.za

Click on map to zoom in or out. Balloon shows the location of Terral Court



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Urgent Flat sale Uvongo, Margate, Kwazulu Natal

Price: R800 000.00 (offers)
Valuation between R1.2 mil. and R1.3 mil.
Discount: min. 33%
Rental Income: R3500pm - R4000pm
Holiday Letting: R400 - R1200 per day
Desc: 3 bed, 2 bath, 3 garages, big balcony, swimming pool in complex
Size: 121 sqm
Address: Londiani, Manaba Beach Road, Uvongo, Margate

Urgent sale of this flat reason for low price.

Rental not high, because of holiday destination, but good capital growth.

Last unit in building was sold in October 2008 for R1.3mil!

More photo's available.

Contact Colin to make an offer
Cell: 072 838 6854
Email: colin@prevent-repossession.co.za

Instalment Sale with development Potential!

Price: R570 000.00
Valuation between R780k and R1 mil.
Discount: min. 27%
Deposit: R70 000.00 included in price
Instalment: R4900pm
Rental Income: R3500pm
Council Tax: R425.00pm
Desc: 2 bed, 1 bath, lapa, swimming pool
Size: 108 sqm
Large Stand: 7700 sqm
Address: Tugela Street, Riversdale, Meyerton, 1963


Very large stand with development potential. Developers are subdividing stands to 500sqm in area. House is very neat and tidy and can be let for R3000-R3500 per month.

Shortfall only R1825.00pm. No bond required. Owner finance for maximum 5 years. Can be sold before 5 years or find own finance within 5 years time.

Click here for map.

Contact me:
Cell: 072 838 6854
Email: colin@prevent-repossession.co.za

More on Instalment Sales

Instalment Sales are huge in the US and UK, but not in SA. The main reason is that the rental income on a property in SA it low compared to the monthly mortgage payments. And the reason for this is because we are paying 13-15% interest on our lending while the US and UK is only paying 4-6% interest.

The ideal instalment sale is where the rental income covers the instalment every month. The instalment will typically be the same or higher than the monthly mortgage payments.

At the moment I have many sellers wanting to sell on instalment sale, but the instalment is higher than the rental income. This will not be a problem if the buyer is willing to cover the shortfall between the mortgage payment (the instalment) and the rental income.

So when will a buyer be willing to do that? Well, if the buyer is getting the property at 10-25% below market value it might be worthwhile to pay the shortfall for 1 or 2 years. This is how most investors buy property anyway. Or the buyer wants to take advantage of not having to apply for a mortgage and the cost savings doing such a transaction. There is no bond transfer or application cost and the legal fees are 50% lower. The transaction would take less than 30 days to complete.

I need to know if we have investors that would be interested in buying properties like this where there is a small shortfall every month between the instalment and rental income. You can email me at colin@prevent-repossession.co.za

Opportunity for Cash Buyers

Distress property sales are increasing in spite of interest rates coming down. I think it is a delayed effect of the turn in the property market. It is a matter of to little to late from Tito. I have always believed the Reserve Bank was behind the curve, and it seems that they are slowly waking up to the fact that they need to act more dramatically. So it seems that we will get another 1% drop in interest rates in March. This will be a move outside the normal Reserve Bank meetings.

According to Elma Kloppers from Beeld, people who are 4 months behind with their bonds have increased to 35 000 in the last quarter of 2008. It is probably higher at present. This is very bad for the banks, so I will not be buying bank shares for a while (hint)!

I receive more and more calls from homeowners that are willing to sell below their bond value. About 2 months ago it was unheard of to sell short of the outstanding bond amount. Now the distress sellers are calling me to sell their houses short on the mortgage!

The banks are willing to release the bond on the house when selling short of the outstanding bond. The bank and the owner will have to agree on this. The bank will evaluate each situation and there are no fixed rules. It all depends on the situation of the homeowner.

We have an opportunity to capitalise on these situations. We can help a distressed property owner to get out of his situation and the bank will be able to remove this ‘bad asset’ from it’s books. The discount on the bond depends on how quickly you can deliver the guarantees. So cash buyers get the biggest discounts and the bank will love you for it.

So to capitalise on these short sales I need to know if you would be able to do a short sale with cash or be able to find finance via bond fast for these deals. Please email me on colin@prevent-repossession.co.za if you want me to notify you of these opportunities.

Sunnyside, Pretoria - Flat - Terral Court

Price: R395 000.00
Rental Income: R4200 pm
Levy: R812.00 pm
Desc: 2.5bed, 1 bath
Size: 72 sqm
Address: Terral Court, 398 Reitz St, Sunnyside, Pretoria

Very good location in Sunnyside. Save and quite. High rental income flat. High demand from tenants.

Contact me:
Cell: 072 838 6854
Email: colin@prevent-repossession.co.za

Click on map to navigate.

Arcadia, Pretoria - Flat - Keurboom

Price: R390 000.00
Rental Income: R4300 pm
Levy: R551.00 pm
Desc: 1.5bed, 1 bath
Size: 77 sqm
Address: Keurboom, 714 Schoeman St, Sunnyside, Pretoria

Close to University of Pretoria. High rental income flat. High demand from tenants.

Contact me:
Cell: 072 838 6854
Email: colin@prevent-repossession.co.za

Click on map to navigate.

Sunnyside, Pretoria - Flat - Jubilee Park Mansions

Price: R265 000.00
Rental Income: R2400 pm or R3000.00 if you partition living area
Levy: R550.00 pm
Desc: Bachelors with enclosed stoep that can be used as room, 1 bath
Size: 50 sqm
Address: Jubilee Park Mansions, c/o Mears St and Kotze St, Sunnyside, Pretoria

Block recently renovated outside. High rental income flat. High demand from tenants.

Contact me:
Cell: 072 838 6854
Email: colin@prevent-repossession.co.za

Click on map to navigate.

Sunnyside, Pretoria - Flat - Heynen Place

Price: R355 000.00
Rental Income: R3600 pm
Levy: R700.00 pm
Desc: 1.5bed, 1 bath
Size: 69 sqm
Address: Heynen Place, Relly St, Sunnyside, Pretoria

High rental income flat. High demand from tenants.

Contact me:
Cell: 072 838 6854
Email: colin@prevent-repossession.co.za

Click on map to navigate.

Property Investors are Awakening

In the last 2 weeks my queries from investors have doubled! Is it because interest rates are going to plummet or has everyone decided to buy property now?

I have been very busy the last 10 days, although you have not seen any new investment property listings.

In the last 10 days I have turned most of my focus to good old rental property investments, namely flats. The reason is 2 fold.

Most property investors invest in high yielding rental properties with low maintenance, easy management and good cash flow. I received many requests for flats and have decided to deliver what you asked for.

Secondly I have noticed a marked increase in motivated sellers in the housing market below R500 000.00. It is interesting to see the market go through its cycles. The property owners that were in distress first where the houses above R1.5m. Then it moved to above R1m, then above R500k, now below R500k. All this happened within the last 8 months. Very fast.

So make ready to see more flats with very good rental income in the next couple of days. These flats are very popular and you will have to let me know immediately if you are buying.

Happy property hunting!

Please contact me on 072 838 6854 or colin@prevent-repossession.co.za if you have any questions.

Cash Flow Positive Flat for Sale - Sunnyside, Pretoria

Price: R420 000.00
Address: Tricarrel, Kotze Street, Sunnyside (close to Mears Street)
Bedrooms: 4 bed (this 2.5 bed has been partitioned into a 4 bed)
Bathroom: 1
Size: 86 sq meters
Levy: R822pm
Rental income: R5500pm
Monthly Bond: R4479.00 (10% deposit, 14% interest, 30 year bond)

Click on map to navigate.

House for Sale - Glenmore, Durban

Price: R1 700 000.00
Market Value: R2 100 000.00
Equity: R400 000.00
Discount: 24%
House Size: 400 sqm
Stand size: 900 sqm
Rental income: R12000.00 - R15000.00 (with 2 bed flat incl.)

Description:

3 bedrooms (main bedroom is a double room with an ensuite) and other two rooms and passage has laminated wooden floors 1 full bathroom
Open plan lounge and dining room with folding doors that lead out onto garden patio (laminated wooden floors). TV room with built in wall cabinets (laminated wooden floors)
Large kitchen with new cupboards and centre island
Cottage below the house that leads onto pool area. Two rooms and a bathroom with shower.
Jungle gym in the garden
2 double garages and drive in access for a another 3 cars.
5 minute walk from university
10 minute drive from Pavillion and airport
Close to shops and schools

Huge open verandah area that overlooks Westville (can see the Pavillion) and University. See map.

Click on map to navigate.

Weavind Park, Pretoria flat for sale

Price: R350 000.00
Address: 170 Pitts Avenue, Weavind Park, Pretoria (see map below)
Bedrooms: 1.5 beds
Bathroom: 1
Garage
Size: 68 sq meters
Levy: R445pm
Rental income: R3500pm
Almost cash flow positive!
Swimming pool in complex.
Similar property was sold for R485000.00 in June 2008. That is a 28% discount!

Flat is in very good condition. High rental demand in area. Next to Police head office and Pretoria University. Easy access to Pretoria CBD. Low levy and very well managed block.

Click on map to navigate.

How to buy a property without a mortgage - The Instalment Sale

The instalment sale has many names. Some of them are alienation of deed sale, deed of alienation sale, term deed sale, instalment sale and i-sale. I like instalment sale, because it gives a good description of the contract.

This type of contract for the sale of property is not used often, because not many people know about it. An instalment sale is basically a sales contract of property from seller to purchaser were more than 2 instalments will be paid by the purchaser over a period longer than 1 year, but shorter than 5 years.

The normal terms of sale will be a deposit paid by the purchaser initially, but not always followed by monthly instalments that are more than the interest of the mortgage over the property. The purchase price is fixed in the contract and the purchaser has 5 years to complete the sale.

The mortgage stays in the name of the seller. The attorney will make sure the title deed reflects the new owner’s name at the title deeds office. Transfer duty will be paid like in a normal ‘Agreement of Sale’. The transfer duty must be paid within 6 months of contract. The sale takes place much quicker than a normal sale and transaction costs are lower.

Instalment sales are coming back to live thanks to the NCA and current property cycle. People are finding themselves over exposed and not qualifying for mortgages under the New Credit Act. With the instalment sale you don’t need a mortgage to buy a property. The advantage to the seller is that a sale can take place much quicker and he will be able to prevent repossession.

The instalment sale is handy when a purchaser knows that his personal rating with the NCA will improve over the next 5 years, but does not qualify for a mortgage at present. The purchaser could be someone with a strong cash position, but cannot qualify for a mortgage. So the purchaser can take on a large property or mortgage and not worry about short term expenses on the property.

The seller would be someone who wants to sell his property for the outstanding amount on his mortgage. He does not have any equity to release on sale of property so he does not worry to wait 5 years for sale to complete. The monthly instalments are covering his mortgage payments, so he does not have any cash flow problems.

The advantage to the purchaser is that he can buy a property with no mortgage and benefit from capital growth over the 5 years. And if he still does not find a mortgage after 5 years, he can sell the property. With the proceeds he will repay the seller and sit with equity in his pocket. The purchaser can repay balance or sell the property at anytime. He does not have to wait for the 5 years to pass.

The purchaser can use the rental income from the property to pay the monthly instalments to the seller. Sometimes the rental income is short of the monthly instalment. The purchaser will have to use his own funds to pay the shortfall, but normally this shortfall is compensated by the fact that he bought the property below market value and with the capital growth over the following 5 years. As rental income increases the shortfall will decrease as well.

You can see that this kind of transaction could be a good investment vehicle to the investors and urgent seller.

If you are interested in purchasing a property with an instalment sale agreement, please email me on colin@prevent-repossession.co.za.

2 Bed Flat in Woodstock, Cape Town - 18% discount!

Price: R450 000.00
Current Market Value: R550 000.00 (2 similar flats were sold for R630k in June 08!)
18% discount or R100 000.00
2 Bed, Bath/shower, kithen, lounge
Size: 63 sq meters
Current Rental: R4000 pm (R4400 pm next year)
Levy: R605 pm
Address: Listowell Rd, Woodstock, Cape Town
Close to Cape Town CBD. Very Good rental area.
Photo's available

E-mail me on colin@prevent-repossession.co.za to make an offer.

Click on map to navigate. Zoom in to see Listowell Rd.

Plot 181, Doornrandje, Centurion/Pretoria - 22% discount

Plot 181, Doornrandje, Centurion/Pretoria - R1 669 500.00
Current Market Value R2 150 000.00 (Valued at R2.4m last year)
Discount to Market Value - 22%
R480 500.00 discount!
Recently Completed New Building
5 Bed, 4 Bath, 3 Garage, 1.8 ha stand
460 sq meter house
18000 sq meter stand

Email me to make an offer: colin@prevent-repossession.co.za

Click on map to navigate.