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Tag Archives: Flip

Blodwen St Finding an Agent

Agent didn’t live up to their promise, so we are getting a new agent at the end of the short leash we gave the old agent. Strategy and Update.

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Blodwen St Bathroom

Choosing the right bathroom materials is always fun and interesting, especially for the different needs that you have for a property, the likely end user.

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Blodwen Street property with Kitchen written on it

Our search for a kitchen supplier and also the way we work with materials has found a home with LNPG and Magnet Trade that we will work with for all future

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Blodwen St construction starts

Join us on our journey as we start the renovation and construction of Blodwen Street. The aim is to do a quick reno then rent or flip it on.

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Gwendoline St with "finding a builder" written on it

Today we visited the work sites of two of the builders we are getting quotes from, to understand their work method, see them in their own environment, and understand likely costs of works based on their existing/ past jobs. We are still waiting for quotes, but based on the type of work we have seen we are quite certain about one of the builders being the one we work with.  In traditional blog style, I will change names to Bob and Paul. Bob came on site, and did an inspection, wrote a few notes, but didn’t give me a lot of confidence that his price was going to be completely fixed. He did not ask enough questions like “how would you like that done” etc so I am expecting to have at least a 10% overshoot on his quote. Paul on the other hand did a full work up of…

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Swansea Rd Property with before written across it

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

Completion (over a property picture)

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. 

Blodwen St property with before written on the picture

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

photo of blodwen st property with Completion written on it

We received the completion* confirmation email from the solicitor today! This is the 2nd property in this JV, and our 3rd 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. 

Swansea Rd Photo text: decision to invest

We had a flip appear today, and taking a look at it, it was almost an immediate yes before doing the numbers as the opportunity to add value was immense by doing some land development style title splitting, subject to planning of course. The basic numbers: Purchase: £80,000 Costs: £5,000 Refurb: £20,0000 Total Spend: £105,000 Walk score: 40 Car-Dependent This is a semi-detached house in a very car dependant area, so this doesn’t fit the Kevin Green criteria of near town centre as such. We typically wouldn’t go with a property with a walk score under 60 or even 70, however this one has land development potential as a bonus. As it stands, even without this potential development, the numbers work well, but it will be a fantastic one if we get the planning approval for the development.  A few road humps stand in the way, like the telegraph lines…

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10/10