It has been a few weeks since my last newsletter with the majority of my time spent overseas and in London.

The “credit crunch” appears to be easing, but recession not recovery continues to be the catchword in the UK, although some of our European partners began the recovery phase of the cycle in the last quarter and the US will soon follow.  I am confident we will see growth early next year, but the key question is “How sustainable will that growth be?”  In the meantime, take this blip in the long-term economic cycle as a buying opportunity.

Without doubt we are witnessing some excellent investment deals in the UK, particularly in London.  Yesterday we finalised a deal with an administrator for a number of apartments in North London.  Henry has been working on behalf of clients for some months on this and that hard work has paid off.  These excellent properties are at least £50,000 below current realistic values and yield 6-7% which in this part of London is very good.  Investors will see a strong return on these well located units as the market recovers, which in London is already underway with values up around 6% this year.

Why do we get offered these units at such good rates?

Simply, administrators, LPA receivers and banks are not estate agents and as such do not want to deal with lots of individuals.  They prefer to deal with one person/company and secure bulk deals.  It is not easy dealing with administrators, but the discounts to the market justifies the work and patience.

Office Move

We are about to move office and have just finalised a refurbishment contract with a local design agency.  You may remember that at the height of the credit crunch we purchased an office block in Liverpool city centre.  We will be moving in before Christmas, rebranding the block and will be set for a running start to 2010 with a new business launch. We have been working hard on the new business idea for some time and for now I will keep it under wraps, but it will make a huge difference to the way in which we do business in the UK.

I am presently in Cyprus enjoying a few days with my family and will accompany Stephanie at the Grove Spa Resort monthly site meeting next week.  Progress is excellent and I know a lot of you have been following the construction blog – Click here to view the blog

Invitation – FREE seminar in London Wednesday 25th November 2009

“How to increase your wealth substantially in 2010 by investing in UK bank repossessed property”

Myself and Henry will be giving a talk starting at 6.30pm for a couple of hours on how to successfully invest in repossessed property, the potential pitfalls, how to raise finance and how to secure incredible deals.  Anyone investing in the current market will reap the benefits in years to come.

Places are limited, so if you wish to attend this free event then please fill in the form at: www.distressed-assets.co.uk

Best wishes