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Hi Guys, I’m just in the process of purchasing my first property, it is a repossessed 2 bedroom flat so is in need of modernisation. I would say the flat needs a full refurb which would include a new kitchen, bathroom, redecorating, flooring and a new boiler. The surveyor said the electrics and plumbing seem to be fine but may need changing in the near future, so I was thinking to get this down whilst I’m changing everything else. I just wanted to know how much would something like this cost to be done at a good level. In my head I’ve budgeted for about £20k - £25k. Would be great to get some realistic cost from those who have done this type of work. Also if you know any good trades people that could do the job I would really appreciate it if you could forward me their details. I’m based in Croydon. I have attached the floor plan so you can get an idea of the size. You Thanks Charles

Hi, I'm wondering if anyone has any advice or thoughts... tenants have recently vacated a house in Hounslow and I was thinking of refurbishing it before putting it on the market (new carpets/doors/skirting/kitchen/bathroom/electrics). Three estate agents have visited to value the property and advised just selling it as it is allowing the next buyer to renovate it. Is there value to be made in refurbing if I can do a lot of the work myself or should I just sell it? All thoughts, opinions and experiences would be appreciated! Kris

Hi may name is Dal, I'm from Birmingham and am looking to begin my property investment/developer journey. I have no experience but have some skills in DIY. Im not sure which strategy to go with, interested in flips but also like the idea of buy renovate and hold. I guess I'm looking more to invest in my area, is that good or bad? In the next 5 years I'm going to have minimum 10 property portfolio but be financially free in the next 12 months. thanks for reading all. onwards and upwards Dal

Hi All, I've done a refurbishment befpre and was fortunate to have made on that one £29,000 - Question is, I know i have £52,000 cash aswell as owning a residential property. I'm only 24 so a bit new to this but been researching and reading everything I can so ready to make my next project. Question is: Should I buy a house for £40-50k cash. Then get a loan of £20k to refurbish the house. Or do bridging then use remaining cash to refurb? I know bridging can be interest heavy so my idea of cash is cheaper and then a loan can just get a flexible one and pay off as soon as house sells. Let me know your thoughts Thanks

I currently have one residential mortgage but I would like to purchase another property to renovate and sell for a quick profit. Last year I decided to do some travelling and I am currently working a ski season in Europe. I rented out my house before I went travelling so the repayments are taking care of themselves (and I plan on leaving it that way). I will be returning to the UK in April and would like to invest in another property, but to buy and sell rather than rent out. I am a general builder by trade so (other than gas and electric) I can do most of the work myself. I have around £10,000 cash to spend on a deposit for purchasing the property and then plan to lend/credit card for materials to renovate ( I possibly have a partner willing to also invest £10,000 but nothing confirmed yet) so will be looking to purchase in a cheap area such as Wales or Northern England and maybe a flat, but preferably a small house. So I was wondering what mortgages are available for purchasing a property to renovate, How much deposit % you need and if I can purchase at auction with a mortgage? Thank you so much for any advice! Guy

Hi everyone, I have just registered with the propertyhub after listening to half a dozen or so of the podcasts and really enjoying the style and approach of Rob & Rob. We (my girlfriend and I) bought as first time buyers at £160k in 2012, spent a whole lot of money and 18 months getting planning (nightmare), renovating and extending (if you can name it we have had to do it in our house, roof, electrics, plumbing, steelwork, sewage treatment plant, connect to mains gas, underpinning, dealing with asbestos...). We also managed to buy a little more land and build a garage on the plot we have. With all the work we have done we are hoping to release about £70k when we re-mortgage later in the year with the property value being estimated at £375k, so I am in the process of educating myself as to the best way to use the money to start the ball rolling investing in property. Although I love our house, I am not sure as an investment whether I would want to take on the kind of project we have completed again as it was high risk, involved some unconventional financing arrangements and required a significant amount of time, but it has taught us a lot. So now I am trying to pin down my property investment goals and develop a strategy which will hopefully mean in 10 years or so we can earn a significant income from property which gives us options and more control over our working lives. Would be great to hear from anyone else in a similar situation or who has been there and done it? Also, very happy to share what I have learned from our major renovation project with anyone else thinking of taking the plunge! - David.