We only work with batches of new or recently built properties within the UK. We have a preference for apartments but we have worked with houses in the past. Properties can either be tenanted or vacant possession.
Our approach to investment is no different to that you would expect of a savvy investor - we look for good quality property in areas of high rental demand with minimal voids. The discount and yield that we need varies from location to location - get in touch with us for an informal assessment.
We place the properties we source with our repeat buying high net worth individual investors. These buyers will contract and complete directly with the vendor.
We do have bulk buyers who will take batches of units in one fell swoop, but we find that better value is driven for the vendor by our model of crowd sourcing individual buyers into the properties that we work with. Individual buyers have a lower expectation of discount, and if one drops out then they can be replaced. If a bulk buyer drops out or tries to renegotiate then the whole deal can fall over.
At the moment Ferveo only works with residential property in the UK.
We see lots of property. LOTS of property! At the time of assessment our buyers are not yet in place - obviously we cannot start allocating our buyers into property where we have not yet agreed terms with a vendor. We do, however, know like the back of our hands what our buyers are looking for. We know what yields, product type and figures they are looking at throughout the country, so we are sourcing to a given criteria. If we can agree figures which meet those criteria then as far as we are concerned the deal is done, as we know we have met that criteria.
When you are talking to any of the Ferveo team you will soon get sick of hearing about us harping on about "added value", but it is one of the most important ingredients to making any deal a success.
Our buyers are busy, wealthy people who are investing in the residential property that we supply as a pension.
They trust us.
We have to repay that trust by making sure that the property we supply to them has "added value" in that they couldn't have just walked in off the street and bought it themselves at the price we have secured.
If we cannot add any value to a deal then we cannot work with it. That does mean that we have to turn some excellent property away, but without us adding our own stamp on it we cannot present it to our buyers.
We will only work with third parties who can prove that they have a mandate to present stock to us. We work with Agents and individuals who can present appropriate stock to us on this basis.
Yes. As part of the diligence procedure we visit every development.
We have a range of development expertise within in our organisation ranging from planning to legal and architectural experience. If you have stock which isn't straight forward please get in touch - we can probably help.
It is dependent on the number of units, but on a typical batch of say 20 units it will take us three-four weeks of housekeeping to get the buyers in place with completions taking place within 28 days of receiving contract packs. Obviously the legal work can sometimes be a little more challenging, and that can make things take a little longer, but these timescales are our target.