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5 Tell-Tale Signs That Homes Under The Hammer Is NOT Based In The Real World Of Property Investment

24 Jul

I love Homes Under The Hammer, but there are some things which happen on the show which just drive me insane.

And I know it’s reality TV, which isn’t really like the real world – but if you want to make real money from property investment  – you need to live in the real world – because that’s where the real money is!

It’s Rule 8: Get Real

1.  There is NO free labour in the business of property development

free labour

Seriously, I am sick of the amount of people on Homes Under The Hammer who expect their friends and family to work for free, while they get to roll in all the lovely lolly when the project’s complete. (more…)

Why You Need To Treat Buy To Let Property As A Business: Week 2 At The Easy Buy To Let Experiment

15 Jul

Is there any such thing as an “easy” buy to let property?

That was the question which prompted me to buy this property before auction.

Admittedly, the experiment has gotten off to a shaky start; the property’s been down-valued and wiped out my renovation budget, I found out I needed new windows, realised a temperamental boiler would only lead to temperamental tenants, oh and did I mention the re-wire…

Yes, property renovation is an expensive business and most of the time you will feel like you are haemorrhaging money.  I say feel like, but actually that’s a fact.  When refurbishing a property you will need access to large amounts of money, and often.  No matter what deals you strike, or how good your negotiations – everybody will want paying.  Now.

pay money (more…)

How To Choose A Double Glazing Window Company

9 Jul

double glazing salesman

Having been on in the game for a number of years now, I am blessed to have a trade contact book stuffed full of numbers.  However, this time, as the “easy” buy to let property is in a new area for me – I am a little slimmer than usual for contacts. (more…)

The Easy Buy To Let Property Experiment: Why I Wimped Out

4 Jul

I am not one of life’s quitters.

But, it’s important to recognise when you need to give up.

Hacking tiles off walls, dismantling kitchens, removing bathrooms and moving piles of rubbish is hard, physical work.  Especially in this heat.  And on your own.  I’m not averse to manual labour – it’s just I am not used to it!

When doing a property refurbishment it’s very easy to get carried away and try and do everything yourself to save money.  This is fine, if you have the time and skills – although you do need to consider if your time could be more productively spent on an alternative task.  Time is the only resource you have – so you need to make sure you are using it to the max.  Or at least enjoying it.

Maybe it’s the chav gene in me – but I take great sadistic pleasure in smashing things up.  Smashing things hard.  And watching stuff fall apart. (more…)

The Easy Buy To Let Experiment: Unexpected Major Expense Number 2!

2 Jul

Baxi used to be a good brand of boilers.

I say used to – because it all depends what plumber you’re talking to and when.

Up until, like yesterday, I thought they were a good brand.

That was until my plumber popped round to the house to do the gas safe check.  Now, I know I’m a little way away from having the property ready to let (and by all accounts am wasting valuable time from the 12 month annual certificate check), but given this is a rental property I wanted to ensure the boiler would meet with the safety regs.

So my chirpy plumber turns up at 8am and after a lengthy discussion swapping surf tips (he’d also coincidentally been at surf school in Lanzarote at the same time I’d been at surf camp in Fuerteventura) he gets down to business.

And I get back to stripping wallpaper.

It’s a task I love. (more…)