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Tag Archives: Swansea

Walter Rd front

Walter Rd is now refinanced and set to passive income for the investors. Final report.

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letting walter rd

Firsts tenants are in, and finally we switch from building project to income producing asset. Now for the refinance – sharing lessons learnt in the process

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Walter Rd construction ends

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.

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Planning-application

Found out we missed out on the 2 semi’s planning application today. Council thinks us a little ambitious in over use of the land.

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Walter Rd photo with mid construction written across it

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 Electricals started Work to go: Build bathrooms Water main upgrade Electrical meter upgrade Installation of sprinklers Install kitchen Plastering Paint and decorate There is quite a bit of work to go really, but it should move swiftly from here on (we hope!).  All the framework is there so more contractors can be working on the construction at one time.   Sadly we are still waiting for the schedule of works and the agreed milestones from the PM so we can follow along. We thought we would take this opportunity to share our learnings from this project,…

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Walter Rd prop with "finding an agent"

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 landlords and tenants, was very encouraging, especially for Craig who has operated like this for some time, while managing his properties for the past 15 years. This agent treats his clients and tenants as JV partners and seems to go the extra mile to earn his fee. His methods include: setting up a WhatsApp group for a HMO, so they catch any issues first and all the tenants are on the same page; Managing the cleaning and bin rota; quarterly inspections; advertising for tenants using targeted marketing methods; targeting ads at specific industry workers; doing…

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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.

some old rubber stamps in a pile

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 to request a copy by email. They said they will try, but definitely by post – we got the form by post only.  On receiving the form, we searched for it online (which we probably should have done from the start), and found the exact form on the gov.uk website, downloaded it, filled it in electronically and emailed it to them (which is allowed method of submission – whaddya know). On the form is a field for email address – “if you want us to communicate to you by email, put your email here” –…

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Planning-application

This property has a lot of potential and uplift possibilities. Our vision for it is to extend the house. This aligns with the demand in that area.

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picture of Walter Rd with Completion written on it

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.

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