A Midweek Site Visit And Negotiation For Specialised Supported Housing
Hi Everyone,
I hope you all had a successful week?
The highlight of my week was a visit to a site in Bath, an ancient town in Somerset England, that I last visited in September 2022. I went there this week to finalize the negotiations for a property purchase after the third round of negotiations over 27 months since my first visit.
The price is approximately what I offered originally in October/November 2022, at which time the seller accepted an offer from another party, not my offer. That purchaser was unable to complete the purchase owing to funding difficulties, so the property came back on the market last year, at which time I tried to secure it again, without success.
Recently I became aware that the property was again on the market at a reduced price and have secured the property provisionally. I say provisionally because we still have one competitor, but I am endeavouring to conclude the purchase quickly.
I would say that the relationship that I have built with the vendor over the last 27 months have made a difference, and might be the thing that sways whether we are granted the purchase or the other party.
We will be using the building for Specialised Supported Housing purposes, meaning that vulnerable people will be housed in the building, in 1 bedroom flats, and carers can visit and attend 24/7/365 days a year.
There is a big demand for such specialised supported housing all over the UK, and the economics of the business model are excellent in terms of return on investments for investors.
The vulnerable people have an ongoing need for such supported housing, so there is a long term arrangement put in place, a 20 year lease on the property.
This is a win/win/win property strategy where the vulnerable people are housed in an economically efficient manner, and the developer is rewarded fairly for his efforts.
We aim to carry out more of this type of project during 2025 and beyond.
I wish you all a very restful weekend, wherever you are in the world.
Cheers
Alan
Recent Comments
9
Hey Alan, it seems that you have got everything figured out. Why did you decide to quit POD? It is a lucrative business, if done right.
Hi Hein, Thank you taking the time to read and comment. My first experience of POD was at the beginning of my internet journey and maybe (not mayne, definitely) I chose the wrong partner. I invested in a system called TRex from a well known US entrepreneur called Greg Writer. I travelled to San Diego for a few days for a seminar about this, but all too soon the system failed. I was looking into other things and although I have had opportunities I never chose to go back to POD. How do you do it? cheers Alan.
What POD have you done? You have to stay with trends and evergreen as well. I am sorry about your misfortune, it happens and we get stronger through experience.
Hi Howard, Thank you very much. I envy your lifestyle, and you also manage to be an Ambassador here as well. awesome! Cheers Alan.
Thank you, Alan! The RV lifestyle and its simplicity allow me more time to be active in things I enjoy.
Have a great day!
See more comments
Great going Alan... sounds like things are moving forward nicely!!
I absolutely love Bath.... and it would be my #1 choice of a place to live in if I ever move back to the UK!!
Enjoy the rest of your weekend my friend! :-)
Hi Nick, Thank you very much for taking the time to read and comment on our post. I am really looking forward to developing this property into something with a useful social purpose. It has a lovely outlook over a valley and I can quite appreciate why Bath is so popular. Have a great week! Cheers Alan.
You're most welcome my friend and cheers! :-)