Frequently Asked Questions
Everything you need to know about Clarice Carr & Company.
Why do you focus on investment property in Newcastle and North East England?
We know this region well, we know the local markets and we know the right places to look for buy to let and buy to sell properties.
The region is blessed with a wide range of housing stock and, because prices tend to stay relatively stable compared to other parts of the UK, we can give you a good idea of the figures before you sign on the dotted line.
Why do you prefer to purchase properties that require refurbishment?
A property that needs substantial refurbishment will typically sell for 30-50% less than its potential value. This means that, by buying at the cheaper price and refurbishing, you can add value immediately.
If you buy the property at a low price, invest in the refurbishment and then remortgage at 75% loan to value, you can then release funds for your next project, while building up equity in each property as you go.
Are you an official investment or financial advisor?
We help you to find properties for buy to let and buy to sell investments. We can also manage the refurbishment process and provide advice on marketing and selling.
We are not charted financial advisers and we do not offer any financial advice. We do provide a breakdown of the potential costs and profits relating to each property and we encourage you to seek professional financial advice before embarking on your property investment journey.
Can't I do all this stuff myself?
There are many people finding and managing their own property investments perfectly successfully. What we bring to the table is knowledge, experience, contacts and support.
Project management can be stressful, especially if you don't live in the area, so we also take the pressure off, so you can enjoy all of the benefits of property investment, without the downsides.
Why do you recommend different types of property for buy to let and buy to sell?
Well, it's not quite so black and white. We base every property search on the budget and requirements of the client, which means that no two searches are ever the same.
Sometimes the criteria for a successful rental property can be very different from a buy to sell, and we know the best property types and locations for each one. That's where our local knowledge and expertience really comes into its own.
Why do you recommend a multiple property portfolio?
Having a single rental property can be fine, so long as it's tenanted. If you have a period where it's empty, you will have the mortgage, Council Tax and bills to pay.
If you have three smaller properties worth the same, the overall rental yield will be higher and, if one is empty, the other can still generate an income. Upkeep costs will be a little higher, but the benefits far outweigh the downsides.
Why should I choose serviced accommodation over HMO or buy-to-let?
Serviced accommodation can offer higher rental income potential compared to HMO or buy-to-let. For example, a property that might rent for £750 per month on a long-term basis could potentially earn £750 per week as a serviced accommodation.
Additionally, serviced accommodation provides more flexibility in pricing based on demand and typically involve less wear and tear from short-term guests. There are also potential tax benefits, such as the ability to fully deduct mortgage interest. Our expertise and local knowledge ensure we find the best properties to maximize your returns.
Are there any other benefits to choosing serviced accommodation?
Yes, there are several additional benefits. Serviced accommodations are in high demand as more travellers prefer the home-like comfort and amenities they offer over traditional hotels. This growing market can lead to higher occupancy rates and increased income potential.
Furthermore, flexible tenancy laws for short-term lets make property management easier, with less stringent regulations compared to long-term rentals. Our partnership with experienced serviced accommodation managers ensures your property is expertly handled, enhancing guest satisfaction and maximising returns.