Renovate a country property for living/working purposes
Hi my name is Alexis. I have always been interested in property development but had some bad luck 8 years ago with a neighbour who decided to take some of the land at the side of my house. He became very vindictive telling lies to the council, land registry, neighbours and the police. Unbelievably everyone seemed to believe him. I just saw him as a sociopath.
The lies escalated to the point where his girlfriend started to tell everyone that I was intimidating her and abusing her out of the window. There was no evidence of anything that these neighbours said about me and it was obvious they were trying to blacken my character to make it look like I was in the wrong and noone would believe my story over the land issue. The litigation went on for 3 years and ended in a court hearing for 4 days. I won the land back but it has been bittersweet and I still have my neighbours to live next to. I bought this current house as a project but after going through a legal battle it zapped my enthusiasm and I would like to move away. My current house still needs renovating and I will be lucky to get any money back on it due to all the legal fees I had to pay out. There is however some equity tied up in it so when I do sell it - I will have some extra funds for investing in a new property.
I have seen a run down property in Higher Whitley, Cheshire very close to M56 motorway links to Manchester, Liverpool and links onto the M6 going North and South up the country. The house is on a main trunk road going from Warrington to Northwich but is in a beautiful area of countryside. There is a very popular farm shop across the road which also has a conference centre. The property is also in between 2 country pubs and has a golf club close by. It is set in about 3 acres of land and has some outbuildings that need renovating also.
The house is up for auction around September 24th and the guide price is £350,000. I would like to raise enough money to buy at auction and have some money left in the budget for the 1st stage renovation. The first stage would consist of renovating the outbuildings to create 4 luxury rooms for short term stays for business people. I will be offering room only basis with the possibility of offereing meals if possible. My initial idea will be room only basis but there is a very good coffee shop at the Farm shop across the road that offers quality breakfasts. So maybe I could do some sort of deal with them. The market I shall be aiming at is business people because of the great motorway links and the conference centre across the way. I estimate that 4 luxury apartments could be produced. To be realistic I have calculated that each room would be offered at £50 per night (room only). If they are let out for 4 working nights a week then that produce a turnover of £41,600 per year. It is my aim to have full occupancy all year round so will be aiming at other sectors of the market for weekend lets once it is up and running. But to be realistic I am looking to obtain a yearly turnover of at least £41,600. Over 4 years this will amount to £166,400. From the yield I will be looking to reinvest the money into the main house. This is where I would like to live and renovate to a high standard. It has always been my dream to own a country house and this is the only way I can think of doing it. Why such a big house, I love animals and would like to have some domestic pets ( have 1 little dog at the moment) and I would also like to keep goats and chickens on the rest of the land. I also have wanted to foster children for a long time now and would like to start the ball rolling for the foster process so they can have a great place to come and live away from their normal lives. I have a lot to offer both children and animals and to a community. This is my dream and I would like to make it a reality and would like you to support me in my venture.
SO what is in it for you? The big question. I am looking for just 25 backers to invest £18,000 each. (you can invest more if preferred in multiples of £18.000 and the more you invest the more your return). From your investment, I am offering to pay you back in 5 years your initial investment plus 30%. This therefore equates to £23,400 for every £18,000 invested. If I have calculated correctly, it is a yield of 6% per annum. There is also another reward I would like to offer and that is the right to stay at the property for a maximum of 4 weeks per year during the 5 year period of investment. The stay would include being able to camp on the land and use any facilities that may be working at the property or to stay within the main house during renovation as long as it is safe to do so. Your stay of 4 weeks per year can either be consecutive or taken at different times. I have limited it to 4 weeks because of the number of backers that there may be but this can be extended in special circumstances to be agreed. The stay on the property will not include staying in the first stage renovation which will be used exclusively for letting out.
I am also looking for investors who are possibly in a trade or very handy and would like to be hands on with the renovation of the property. There will be a price agreed before you undertake any work. I will also have the right to terminate any work that I am not happy with. I am looking for bricklayers, gas safe plumbers, joiners, 'Part P' qualified electricians, plasterers and decorators and landscapers and roofers who can all produce quality work. This is a great opportunity for anyone looking to get involved in a project. Also staying on the land whilst working on the property will be additional to your 4 weeks per year.
This property and land has great potential and I think when you see it - you would agree. Not sure how this site works exactly but if you want to meet up for a coffee and a chat and see the property, I am very willing to do so.
So how do I pay you back - I have just started up a bookkeeping business and am not in a position to borrow money against it at the moment. In five years time however, I will be in a position with my balance sheet to borrow the money myself from the bank to pay you back. I will also hopefully have a very profitable bed and breakfast business up and running so further helps to borrow money from the bank. And if all else fails and my plans don't come to fruition, then I will have to sell the property to pay you the money back so it has a secure back up plan wtih very low risk.
I am a very determined person, I have integrity and would like to succeed. I hope you will join me in this very exciting venture. You can be as hands on as you like or if you prefer to be a silent backer, I am happy with that also. Please join me in this great venture.