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How to find profitable ‘doer-uppers’

buy refurb refinance Apr 10, 2022

THE QUESTION

I'm constantly looking at properties to add value to, but they always seem to be marketed by the estate agents at finished value - the renovation cost i.e. with little or no profit margin once complete.

Or they sell at auction for way too much.

What am I missing?

THE ANSWER

Getting all your money out (i.e., 25% deposit and refurb costs) at the point you refinance is a lot harder...

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Just getting started in property?

buy refurb refinance Mar 25, 2022

Less than 5% of people in UK invest in property - so it’s not for everyone.  There are plenty of uninformed people who will tell you it’s a mug’s game and advise you not to risk your money, but if you have the desire and are willing to learn, it’s probably one of the least risky ways to turn a modest cash pot into a substantial profit.

So where do you start?  ...

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Purchasing Property at Auction

buy refurb refinance Mar 10, 2022

THE QUESTION

Can you buy a property on auction with a mortgage?

THE ANSWER

Theoretically, yes, BUT mortgage lenders have, with few exceptions, struggled to fully underwrite and get their offer out in time for conveyancing to be completed in the timeframe required by auctions - usually 28 days, sometimes less.  The same goes for most residential conveyancing solicitors, some are of the view...

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It’s always a buyer’s market

buy refurb refinance Feb 25, 2022

The stamp duty holiday for a large part of 2021 created a buyer’s market - in fact some estate agents were desperate for more properties to sell.  But as we all know trends change and as property prices rise the pendulum may swing the other way.

However, a smart property investor doesn’t look at the overall property prices, but seeks out the juicy deals that aren’t within...

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A bespoke approach to investment strategy

buy refurb refinance Oct 25, 2021

"I’m often asked for advice by new investors or people thinking about getting into property.  The most frequently asked question is ‘which is the right strategy for me?"

Unfortunately, there is never a definitive answer to that question!  The best strategy for anyone is hugely dependent on a number of factors relating to their personal situation.  So before you start...

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What would you do with £40K?

buy refurb refinance Jun 10, 2021

THE QUESTION

As a first time property developer and with just 40k to invest, what would you do? Use the 40k as a deposit on a house or use the money to buy a much smaller, cheaper property outright? I see that there are some properties in certain parts of the UK that appear to sell at auction for circa £30k although I'm guessing these are incredibly cheap for a reason! Which option would...

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BRR!

buy refurb refinance Jan 25, 2021

BRR!

That’s not a comment on the weather - it’s the acronym for Buy, Refurbish, Refinance.  It’s the hot topic in property.  

The concept is to buy a property that needs doing up at a relatively low price, refurbish it - probably a new kitchen and bathroom and maybe a coat of paint throughout - and then refinance at the uplifted value.

The challenge for most...

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How to refurb before completion

buy refurb refinance Dec 10, 2020

THE QUESTION

Can you use a bridging loan to exchange on a site, do the work and complete after the sale? In other words, delay completion using a loan to do it.

THE ANSWER

I have been teaching exactly this strategy for years at my Ninja Investor Programme.  I call it the 100% refurb strategy, because you rarely end up borrowing less than 100% of the purchase price when you use it.  We...

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