Category: Property

Created with Sketch.

Gwendoline Street – Construction Starts

Started construction on Gwendonline Street, some interesting issues raised like damp and dry rot, we knew – but the treatment is hectic.

Swansea Road – Planning – Extension

The planning application for the extension has been submitted. The full application form and plans submitted can be found below for our investors who are following this project.

Building our team: Gwendoline & Walter

We had the pleasure of meeting a letting agent who is achieving rents beyond our expectations for HMOs in Swansea and Port Talbot and we decided to make them a part of our team. Hearing about the agent being an investor himself, how he disagrees with many letting agents on their methods and bedside manners with…
Read more

Swansea Road – Before

Here are some photos of the state in which we received the property before we started work on it.

Swansea Road – Completion

We received the completion* confirmation email from the solicitor today! This is the 3rd and finalproperty in this JV, and our 4th property completed so far. *For non-UK readers, completion here means we have paid the full purchase price and the Title will now be registered in our name. 

Bridging Loan

We are using 2 of our properties to secure a 64% LTV bridging loan with a commercial lender called Together Finance.  We want to start relationships with the bridge loan companies and banks, and prove our capital adequacy and credit worthiness.  So for now, we will pay the large interest rate (detailed below) and set…
Read more

A rant at bureaucracy

One of the reasons we started work on Walter Rd was to get the renovation started in order to change the use of this property from office to a HMO, and therefore remove the higher commercial council tax rate. To do this you submit a form of course, a VO7012. Craig calls the Valuations Office…
Read more

Welcoming a new Investor!

Bringing on a joint venture partner is a lot of work.  It is really rewarding and incredibly satisfying to build a new relationship with a relative stranger to the point of money exchanging hands.  The trust that you are taking on is a big responsibility, and we appreciate the trust that our investors have put…
Read more

Swansea Road – Financing

We have managed to secure a ‘home loan’ finance product for this property. Given the strategy is to get planning, extend and flip on eventually, this financing strategy is a good one for credit profile building. Using a local bank it would be a £53k loan at 60% LTV (under a primary residence home loan),…
Read more

Swansea Road – Vision

This property has a lot of potential and uplift possibilities. Our vision for it is to extend the house. This aligns with the demand in that area.