Tag: investors

Created with Sketch.

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.

Blodwen Street – New 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.

Blodwen Street – Ordering a 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.

Gwendonline St – Planning approved

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

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

Gwendoline & Blodwen: Finding a builder Part 2

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

Swansea Road – Before

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

Gwendoline: Finding a builder

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

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