Started construction on Gwendonline Street, some interesting issues raised like damp and dry rot, we knew – but the treatment is hectic.
We are thrilled we received word from the Neath Port Talbot council today, they approved our planning application to change the property from C3 residential to C4 House of Multiple Occupants for up to four people. Yay! There was a proviso of no accommodations on the ground floor, as per the flood consequences report, which…
Read more
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
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…
Read more
Today we met with 2 builders on site to get some quotes and ideas about the development. Walking around the property with the builders, we discovered the ease in which this property could be turned into a HMO at a relatively low cost as many walls are brick, and therefore the fire exit is protected. …
Read more
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
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
It has been a disappointing day today. One of our first to commit major investors has had to temporarily pull the plug as their funds are caught up in administrative and bureaucratic nightmares in the US. 🙁 As an unfortunate as this is, it also provides an opportunity for us to send this deal off…
Read more
We had some interested parties in the last 3 units of this JV, however we had to make a decision on how to proceed today. We had to give them deadline to get in by 9am UTC time, as we had a deadline to meet ourselves. A bit of pressure applied, which can help for…
Read more
Here are some photos of the state in which we received the property before we started work on it. [s2If !is_user_logged_in()] Below here is some more info for people we know and trust. Check out how to read it here. [/s2If] [s2If current_user_can(access_s2member_level1)] [/s2If]
