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introducing myself again ! advice on a ROI for an investor.


carlyc

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Hi there

History

I have got hold my hands up and say I have introduced myself before on here and then been caught up in a Tornado of life/renovation and moving house and haven't been back on the forum, so apologies first of all for not replying last time to anyone who messaged. I really would like to get involved on the forum as I know how much help and information is on here.

I am on my third own home renovation and also just completed my third flip/buy to sell property. Last time I was on here I was living in a different area (Oldham) but have now moved closer to family where I have been doing my last few projects. Outskirts of Rochdale

Skills:

Renovating and flipping houses own homes and projects

Styling/staging houses to sell (just my own) I used to work in the textile industry as a stylist

I renovated an auction property last year that used to be two terraces years ago, I converted the property back into the original two. I came across many hurdles along the way especially with planning. I learnt so much from this project, I am no expert but am happy to share my knowledge on bits that I learnt on this type of project.

Current:

I am currently looking at my first Single occupancy BTL property, I  currently use a family member who invests in my flipping properties, his ROI is set up and works well, (It differs each time depending on profit made) however for my BTL investor I am thinking it would be slightly different as I am loaning less from him and his money will be tied up for a shorter period of time. 

65k tied up for 6-8 months

Basically the 65k buys the house I am paying for the refurbishments then I plan to refinance after 6 months.

Neither of my investors have invested in property historically so I have been doing the research to see what works.

would I offer a % per month on the 65k or just a flat rate  ROI % for that amount?

Do developers give higher ROI % on higher amounts invested, is there some average rates floating around that people tend to stick to for this type of set up?

Also the property has flooded previously and is in the high risk area, I have been told that insurers will cover these types of properties but the premiums are higher, but as long as the mortgage company knows you have this cover in place they will re finance.

Any advice much appreciated. hope the above makes sense.

here are a few pics below of some flips I have done.

Thanks 

Carly

clough.JPG

whitelees grid.JPG

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