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Joint venture partner required and any advice please


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Hi. I have refurbished 2 properties in the last few years and added value. I lived in the properties whilst I refurbished them, and I did all the work myself on the first one, and on the second one I used an electrician for a part rewire but other than that I did everything myself. I have worked as a plumber/tiler/handyman and can do all work from plastering to joinery. My current house was purchased for £142,000 and has been revalued after the refurb at £240,000, with a spend of £20,000. 

I documented both refurb projects with pictures on my Facebook page for investors to see what I can do, and my standard of work can be seen.

I am looking to refurb and flip properties going forward, but I don't have the funds to purchase another property as the second refurb is now my residential home, and releasing the equity from it is not an option as I couldn't afford an additional monthly mortgage payment. I do have approx. £15,000 to put towards a refurb project.

I am always finding properties that require a full refurb and would be ideal to flip for profit, so I am looking for a partner that would like to invest money into a refurb and flip project, where I will do the work/project manage and oversee the refurbishment, with a view of turning a property round in a timely fashion and splitting the profit with a partner.

I would be interested in hearing from anyone who is interested, as well as from anyone who has done this before that can advise me on the best way to find investors/partners, and the best way to set things up so that my investors money and investment is protected and safe, as well as ensuring that I will get my share of profit on completion of sale.

 

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Hi Richard

From Ireland originally, I recently moved up from London to Liverpool.

I'm a first time buyer looking to purchase in the area this Autumn winter once I have a mortgage in principle 3 months after I start my new job at University of Liverpool. I have a very healthy deposit.

I intend to buy somewhere to renovate, however I don't have the skills so I thought it's worth connecting with you.

New to the forum, I'm not sure what the protocol is for continuing the conversation.

Thanks

Gavin

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On 5/11/2021 at 1:57 PM, richard hobson said:

Hi. I have refurbished 2 properties in the last few years and added value. I lived in the properties whilst I refurbished them, and I did all the work myself on the first one, and on the second one I used an electrician for a part rewire but other than that I did everything myself. I have worked as a plumber/tiler/handyman and can do all work from plastering to joinery. My current house was purchased for £142,000 and has been revalued after the refurb at £240,000, with a spend of £20,000. 

I documented both refurb projects with pictures on my Facebook page for investors to see what I can do, and my standard of work can be seen.

I am looking to refurb and flip properties going forward, but I don't have the funds to purchase another property as the second refurb is now my residential home, and releasing the equity from it is not an option as I couldn't afford an additional monthly mortgage payment. I do have approx. £15,000 to put towards a refurb project.

I am always finding properties that require a full refurb and would be ideal to flip for profit, so I am looking for a partner that would like to invest money into a refurb and flip project, where I will do the work/project manage and oversee the refurbishment, with a view of turning a property round in a timely fashion and splitting the profit with a partner.

I would be interested in hearing from anyone who is interested, as well as from anyone who has done this before that can advise me on the best way to find investors/partners, and the best way to set things up so that my investors money and investment is protected and safe, as well as ensuring that I will get my share of profit on completion of sale.

 

Hi Richard,

Well done on the last two refurbishments / purchases  

I may possibly be interested in investing. Could I see your FB page? Would be interested in seeing your work etc  

I was / am looking at vanilla BTLs, simply as I don’t have the skills to do a FLIP; but hopefully am in a position to diversity too  . 

Thanks, Abby 

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Hi Abbey,

Sorry for delayed response. 

I just posted a Facebook link on here and have now removed it as it takes you to my personal home page where all my details can be edited.

I am not a big user of Facebook so not sure of the best way for you to find me and see the pictures, so perhaps if you give me details to find you on Facebook and I will send you a friend request which will then allow you to see my pics. 

Let me know if that works for you, or if you know of a better way for me to enable you to see my pics

Speak soon

Richie

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I've actually had this type of investment opportunity in mind for a while but from the other end (i.e. got some money to invest), so keen to discuss possibilities with yourself Richard or anyone else that shows interest in this kind of project.

I think the technical stuff in terms of finance via SPV's etc can be overcome, with some solid research (and a solicitor with experience in such things) or as youve mentioned someone who's already done it (not me unfortunately). The trickier part I think, is developing trust and managing risk, which for me, means taking things slow, but it's definitely the sort of thing I'm interested building up over time with the right little team.

As a starter, I found this article particularly useful: https://www.yourinvestmentpropertymag.com.au/strategy/how-to-find-the-right-joint-venture-partner-182304.aspx

I'm happy to arrange a call with yourself - or anyone else who shows interest - to try and get a feel for each other and see if there's a way to move something forward (i doubt endless posts on here will get any of us very far, very quickly).

 

Cheers

 

Nick

https://www.linkedin.com/in/nickconneff

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Hi Richard

Apologies for the delay.

Yes, I would be living in the property and the areas I'm currently looking at are around the fringes of Sefton Park, so Dingle, Toxteth and Wavertree.

I aim to live in the property afterwards, rent out a room or two and then turn it into a full rental or sell in order to buy another nicer property to do up.

You are welcome to add me as a friend on Facebook as I'd love to see your renovation images and continue the conversation.

There are so many cowboy builders around and it seems you have solid proof of the quality of your work.

www.facebook.com/gavinfreeborn

Thanks

Gavin

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Hi Lukepj,

Thanks for the interest. I don't have a set amount for the investment monies required.

 My intention was to find an investor and find somewhere that fits within their available capital and goals.

Do you have an idea yet of your requirements and what you would like to achieve?

Its great that you are just down the road from me and would be good to potentially do something together.

Thanks

Richie

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  • 1 month later...

I'm after a joint venture partner for similar reasons in the North West area all my properties are around Manchester at the moment but open to expand in surrounding areas I.e. Liverpool, Preston etc.. 

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