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How To Buy To Let Property On A Realistic Budget: Costings, Cash flow, ROI and Cash Margin

14 Aug

Property investment is a capital hungry business – the purchase of a property is just the beginning of a long line of costs.

You need more than you think.  (Rule: 52)

Estate agents, glossy brochures and TV programmes deal in the “headlines” of buy to let; the sort of sums which make you think property is a short-cut to becoming an over-night millionaire.

Property can make you money – but it’s also going to cost you money.  And there’s a lot of hidden expenses involved.  These are the boring details that many don’t like to deal with – talking about solicitors fees and stamp duty takes some of the sexy sheen away from which kitchen worktop to opt for.

But the devil is in the detail. (more…)

The Easy Buy To Let Property Experiment: Before And After Photos

12 Aug

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

That’s what prompted this property experiment – the subsequent purchase of a property before auction and the proceeding renovation tales!

While the project may have been completed ahead of scheduletenanted in double-quick time (from day of purchase to tenanted status in 6 weeks) and has been rented ABOVE the initially expected rental of £1300-1400pcm at £1450pcm, it has not all been plain sailing. (more…)

9 Tips To Finishing A Property Renovation Ahead Of Schedule

7 Aug

I cannot think of a time in my life when I have completed a property renovation and said:

“Well, that didn’t take as long as I thought it would”.

Never.

And I cannot believe I am saying it now.  But I am.

This project was run differently to my norm, so I thought I’d share with you what I did to achieve ahead of schedule success!  And just in case you’re wondering – I thought this project would take at least 6 weeks to complete with additional workers and actually took just 5 weeks – with LESS workers!!

So how did I do it? (more…)

From OH NO To OH WOW: The Easy Buy To Let Property Experiment (Week 5: It’s A Wrap!)

5 Aug

Buyers remorse?  I felt a twinge or two.

Just 5 minutes after collecting the keys to my new property, I attempted to open the window for some fresh air.

broken window

Yes, the latch came off in my hand.

Not quite the start to the renovation project I was expecting. (more…)

Why It Pays To Think About Your Property AND Your Target Market: The Easy Buy To Let Property Experiment (Week 4)

29 Jul

NB. If you want to skip straight to the video update – it’s here

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Up a ladder, with your back to the world, and feeling like somebody is watching is you, is not a good feeling.

Especially when you’re in a property, alone.

So I turned my head away from the fresh smear of paint I had just deftly applied and looked towards the light.  Which, in my case, was the lounge window.

There pressed up against the glass, I saw three little children’s faces, their hands cupped over their eyes peering in.  And it wasn’t the sort of peering in where you felt like they were about to smash the window and nick everything in sight. (more…)