Tag: Invest 2

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Walter Rd – Nearing end of Construction

The project is starting to really take shape as we reach the end of construction phase and move into the next stages of finding tenants and refinancing.

Walter Rd – Mid Construction

We’ve received a mid-construction report from the Project Manager on this one, which is great!  As you can see from the photos below, there’s been some real progress with frames built, and the walls and floors are really looking different from the state we left it in. Work completed so far: Rip out Frame works…
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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…
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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…
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Walter Road – Finding a builder

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:

Walter Road – Demolition days

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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Walter Road – Before we started work

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.  

Walter Road – Completion

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 – Finding funds

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.

Walter Road: Project update

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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