) In this video I’ll take you through the system I have used to build my buy to let portfolio, starting from scratch and with no money of my own, and which you can use to build yours as well. I’ll also show you how to recycle your money, so you can pull all or…
Search Around For The Best Finance For Renovation Projects. Lenders require a property to be habitable from day one before they will advance a buy to let loan. Many buy to let lenders are reluctant to advance mortgages against properties which require even minor works of repair, modernisation or improvement. The rationale behind this is…
Light Refurbishment Finance Available Today In the previous post we looked at light refurbishment and how it works. Let’s have a look at the different light refurbishment products offered by the different lenders. Paragon Mortgages Here’s how the Paragon limited refurbishment scheme limited works. The minimum valuation requirement is £75,000. Up to 75% of…
Be Clear on How Much The Works Will Cost Before Your Start The amount you pay will depend on where you are located, the size and quality of the property you are working on, the quality of the work you instruct, how many quotes you obtain and how hard you ‘negotiate’ with your contractors, and…
Know How Much Value The Works Will Add Before You Start Before doing any works of repair, renovation, modernisation and improvement, we will want to be sure that they will add value. That is, unless there are other good reasons for doing the work, such as, we are obliged by law to undertake them, or…
Number One – Be Clear in Your Own Mind Why You Want to Renovate There are two main reasons why we will probably want to refurbish a property. The first is because it’s a rental property for letting out. The second reason is because it’s a property we’ve bought to refurbish and sell on. If…
Here’s a property I have just purchased. I now have to decide whether to sell on as is, or whether to keep it, renovate and sell on, or to keep it, renovate and let out as a buy to let investment property
This is a video I made in November 2013. I bought the property through an estate agent in the normal way. The property was on for £83,000 and I paid £82,000, so there was nothing clever in my negotiation. I could have renovated it and kept it as a buy to let investment property. But…
Here’s an interesting situation. This property was offered at an auction I attended about a week ago but didn’t sell. It’s described as being a 3 bed semi requiring a full scheme of modernisation and improvement. It received quite a few bids but fell short of the reserve and was withdrawn. The last bid was £67,500. Now…
It’s been a few months since I’ve been there and a lot of progress has ben made. The internal walls have been plastered and insulated, the electrics are in, the central heating is in, the kitchens and bathrooms are in (this is a pair of 1 bedroom flats)