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Showing results for tags 'add value'.
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Adding value...how easy is it in real world?
Dave79EastLondon posted a topic in Refurbs & DevelopingHi all After real world examples here. We are told add value add value add value but how easy is this? What strategies for you have or have not worked well for you in practice? I'm currently seeking to find a property that can be requires some surface works I.e new kitchen/redecoration and ideally can be converted from 1 bed to 2. Is there any advise/experiences you could share please Thanks
lee_lintern_hotmail_com posted a topic in Newbie Advice & SupportHi, I am about to complete on my first BTL property which i have managed to purchase around BMV (around £26k under). I will be looking to refinance after 6months to release my deposit, but, my qu is: should i try and add value to the property before refinancing, or as i have bought BMV, is that enough to pull out all of my deposit money after a refinance? The property is already tenanted, and is in reasonable condition. Plus, i don't really want to disturb the tenants too much as they are reliable and have even signed for a 2yr AST. Thanks! I look forward to the replies! Lee
Should I buy a property which requires a refurb?
Ewa Hall posted a topic in Flips & RenovationsHello everyone, I'm getting closer to buying my first BTL property. I have done lots of research and read thepropertyhub blog, listened to podcasts. There is a lot of advice to buy a property with potential to add value (renovating, adding extensions), so that you can remortgage and get your deposit back. My question is, if I'm buying away from where I live and I don't have a lot of experience with refurbishing properties, is this still a good strategy? I would have to find a construction company, trust that they do the right job, won't charge me a fortune, the refurb will not take too long so I can let the property. Or should I buy a property that perhaps requires only cosmetic changes (new paint, new carpet etc) But then I would not be able to get my deposit back with remortgaging. Thank you for any advice! Ewa