Unlock eSignature Legitimacy for Real Estate in United Kingdom

How to eSign a document: eSignature legitimacy for Real Estate in United Kingdom

how to make thirty thousand from just one property [Music] so in the industry we call this flipping houses or a buy refurbish sell the house so the whole concept of this is that you're buying or purchasing an unloved property that needs a bit of work that you're going to enhance the value through a refurbishment but if it were just as simple as find a property that needs work to make money then everyone would be doing it so what's the first step first thing we need to be thinking about is criteria now criteria comes in a few different sections so you need to think about the time that you've got to invest in the project in the first place the next thing is going to be the location now with that in mind you don't need to be local to the property if you've got a great team on the ground but most people you're going to want it within half an hour of where you live I would say to make a great location but also a location that is desirable next is how much money have you got to invest in the first place now a lot of people use mortgages to purchase a property for flipping but normally you really shouldn't be doing that if not you should be using bridging or cash so if you use a bridging product to get the finance or older more for example going to be great for that and you need to work out what cash you are going to be putting in a property and finally what return are you looking for your Roi return on investment most people that I talk to including myself we are looking for a 15 that's one five percent or oi number two is when do you make money from property no it is not when you sell it it's when you buy it so you need to get it at the right price but what is the right price well the easy way to find out about what you can pay for the property number one is to ignore what it's online for because that is nowhere near what you're going to end up paying I imagine you want to look at the end value of the property so you do your research you look at the end value of it so you know once it's done up what is a light for like property selling for let's say it's a 230 000. the next thing you're going to do is you're going to deduct your 15 from that so in this case 15 of the 230 000 is thirty four thousand five hundred now the reason you take that is that's going to be your money that's your profit then what you're going to do is you're going to take off the refurbishment of the property let's say it's 20 000 then any other fees that you've got including your broker fees your legal fees for buying and selling the property and of course your stamp Duty on the price that you're going to end up paying after deducting all of that you're going to come to your purchase price let's use this as an example if it's 230 minus all of that brings you to 170 000 now the property might be listed for 185 but that doesn't mean that's what you're going to pay you're able to go in at that 170 to make the profit margin that you need number three is enhancing the value further yes you're going to look at refurbishments but actually not only is that going to increase the desirability of the property but there's other ways to add value too so up down left and right is the first thing you need to be thinking can I go up in the Loft can I go into the basement typically in higher value areas can I get an extension around the property that could add an extra bedroom and this is really going to depend on your area another way is look at the floor plans you can get really good at this if you use magic Planet say free app or seven quid I think for the pro version you bring up the floor plans and just move it around often in a lot of properties it's quite easy to make a two bedroom into a three bed by moving the bathroom around moving the bedrooms and you'll be shocked how the exact same property might cost about 8 000 to make it into a three bed can dramatically enhance the value and desirability of your property now comes the fun part making the money and this comes from listing the property at the right price now what you need to be aware of is number one an estate agent is not making money until they sell the property but the value that's convincing you to list it is getting their commission by getting it listed not sold so you are going to be told that you can get more than is realistic so you need to have a Frank conversation with the estate agent hey I want to price this at the right price it's going to get it shifted properly and then you want to think about the price brackets for example if some if somebody said to me I think you're going to get 210 for this all day long I personally would be listing it at 195 or offers in excess of 195 to create a bidding but also if you think about the affordability people might be searching in that bracket same as if they think I'd get 260 I'd lift it List It offers in excess of two four five and create that bidding wall so if you price something right you'll get more attention and more bids on your property which means more money in your pocket so that's it guys what I'm interested in is what is your minimum percentage Roi your return on investment let me know in the comments and as a bonus by the way sometimes instead of buying refurbishing and selling you can not buy the property refurbish and sell also known as an assisted sell now for those of you that have been watching the channel you might be interested in paid for education and actually this is what we do we educate people just like you to enhance their property value if you're interested in that I'll put a link in the description if not put education in the comments I hope you got value guys hit the like and if you're new to the channel and you want to learn everything you can about property investment make sure to hit the Subscribe and the notification Bell and I'll see you in the next video