[featured-img]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),…
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Our project manager Geraint Jones is confident that the builder he found has the right level of professionalism and team to do this larger project. A little more expensive to deliver, however the job should be done faster, when time is money, this is super important. The numbers: [s2If !is_user_logged_in()] Below here are some more…
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We decided to take on some demolition work to “get our hands dirty and feet wet”, as Jeffrey Lee would say. This will also reduce the build cost a little as we can dispose of large bulky waste for free at the local recycling centre, as Ma & Pa’s can but commercial operations cannot. 😀 We…
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Here are some photos of the state in which we received the property before we started work on it. There are some interesting items that we might be able to sell, some other items that will go to the tip. A lot of rubbish though. [s2If !is_user_logged_in()] Below here is some more info for people…
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We got the email from our solicitor today that we’ve completed*on Walter Road, which is great news! *For non-UK readers, completion here means we have paid the full purchase price and the Title will now be registered in our name.
Walter Road was not within our original plan for Invest 1 in the first 6 months, but we decided to take it on because we had a keen investor who was interested in a bigger project, so we created Invest 2. [s2If !is_user_logged_in()] Below here is some more info for people we know and trust.…
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Paperwork is underway and solicitors are figuring out what they require, doing searches etc. Exchange will probably happen within 4 weeks. We met with a local student let specialist who confirmed that the higher end student market would enjoy this location, along with the young professionals. If we can get planning approval for the rooms…
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This property came with planning permission for a 7 room HMO. After agreeing to take the deal, we could see that more value can be added STPA of course, with at least 1 extra room and possibly 2 depending on approval and budget. Original Plan The planning came with 7 rooms with ensuites. This however…
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This property came from PSW, and receiving their email with the summary document started the process of deciding if it was a good investment, what the strategy would be, if the suggested strategy paid off or not etc. The basics: Purchase: £135,900 Other costs: £5,000 Refurb: £60,000 Total Spend: £200,900 Investor subscribers can see the…
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