When I first started to view properties, being a complete newbie, I really didn’t know what to look for. Now, over 200 deals later and a property portfolio that means I am financially free, and having done a ton of renovations, I have a much deeper insight, and can share that learning with you.
Tip 1: preparation – draft spec the refurb from the photos in advance
Tip 2 : preparation – floor plan – can you add value? Remember I made an extra £50k equity
Tip 3 : preparation – get to know the area before going out. Is is rental or owner occupied? Match your strategy to the area
Tip 4 : understand the owner’s situation – this is the deal maker or breaker, and the reason they will sell discounted, because they want speed or certainty. Remember I got a £20k JV profit – none of my money in, because I knew the vendor citation when I was a complete beginner
Tip 5 – onsite, focus on boiler, electrics and general refurb
Tip 6 – on site – filing your photos! Between the…