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How to Buy, Refurbish & Refinance With Speed and Efficiency

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Manage episode 474844051 series 3309995
Content provided by The Expat Property Guy. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by The Expat Property Guy or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

#211

This week, we show you how to buy, refurbish and refinance with speed and efficiency.

Kirsty and Gary from Ormad Properties have been buying mostly two or three bed terraced houses in and around Leeds.

They both had a property each when they first met and soon bought a third one together in 2014.

But in 2020, they decided to scale their portfolio which now contains 23 properties, 20 of which are single lets and three Serviced Accommodation.

Their business model relies on volume.

They aim at turning projects around in around 8 to 10 weeks in order to recycle as much of their funds as possible.

During the episode, we discuss:

o Importance of time and efficiency in property investment.

o Their focus on low risk, volume, and quick project turnaround.

o Importance of having a plan before property acquisition.

o Lining up tradespeople and efficient scheduling.

o Building relationships with tradespeople.

o Importance of reliable and communicative trades over cost.

o Importance of understanding property photos beyond decor.

o Using Google Street View as a tool for checking property and area details.

o Assessing property condition from photos

o Internal Property Inspection Tips

o Key factors to inspect internally, particularly structural and utility aspects.

o Signs of necessary repairs, especially electrical and plumbing.

o Modernizing kitchens and bathrooms as part of a cost-effective renovation.

o The balance between speed and quality in project completion.

o Utilizing past project data to inform budget and timeline for new projects.

o Advantages of buying properties at auctions for speed.

o Strategic approach to bidding at auctions.

o Pre-auction and post-auction buying techniques.

o Discussion on the refinancing process and common delays.

o Importance of starting refinancing before project completion.

o Decision factors for choosing lenders and mortgage brokers.

o The criteria Kirsty and Gary use to determine a good deal.

I'd Like Help With Setting My Goals

Leave an honest review of Expat Property Story
Join our Mailing List to join our WhatsApp group AND access our 37 Question Due Diligence Checklist AND our 23 Step Guide to Buying Property at Auction AND our Newsletter
Follow Us on Instagram
What's the one thing you’re struggling with in UK property

Where to meet Expat Property Investors (For FREE):

Hong Kong: Pacific Coffee, 2/F, Central Building, Central (1st Sat of month from 11:30 am)

Dubai: Holiday Inn, Science Park (1st Weds of month from 7pm)

Singapore: The Providore VivoCity (1st Sat of month from 10:30 am)

Keywords

Buy refurbish refinance, BRR projects, Property investment, Remote investors, UK property, Single lets, Serviced accommodation, Property portfolio, Refinance process, Project management, Bridging finance, Auction properties, Trade team, Renovation efficiency, Property valuation, Tenant agreements, Mortgage broker, Crime rates, Google Street View, Property photos, Renovation costs, Project timeline, Rental income, Tenant screening, Property surveys, EICR certification, Pla

  continue reading

250 episodes

Artwork
iconShare
 
Manage episode 474844051 series 3309995
Content provided by The Expat Property Guy. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by The Expat Property Guy or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

#211

This week, we show you how to buy, refurbish and refinance with speed and efficiency.

Kirsty and Gary from Ormad Properties have been buying mostly two or three bed terraced houses in and around Leeds.

They both had a property each when they first met and soon bought a third one together in 2014.

But in 2020, they decided to scale their portfolio which now contains 23 properties, 20 of which are single lets and three Serviced Accommodation.

Their business model relies on volume.

They aim at turning projects around in around 8 to 10 weeks in order to recycle as much of their funds as possible.

During the episode, we discuss:

o Importance of time and efficiency in property investment.

o Their focus on low risk, volume, and quick project turnaround.

o Importance of having a plan before property acquisition.

o Lining up tradespeople and efficient scheduling.

o Building relationships with tradespeople.

o Importance of reliable and communicative trades over cost.

o Importance of understanding property photos beyond decor.

o Using Google Street View as a tool for checking property and area details.

o Assessing property condition from photos

o Internal Property Inspection Tips

o Key factors to inspect internally, particularly structural and utility aspects.

o Signs of necessary repairs, especially electrical and plumbing.

o Modernizing kitchens and bathrooms as part of a cost-effective renovation.

o The balance between speed and quality in project completion.

o Utilizing past project data to inform budget and timeline for new projects.

o Advantages of buying properties at auctions for speed.

o Strategic approach to bidding at auctions.

o Pre-auction and post-auction buying techniques.

o Discussion on the refinancing process and common delays.

o Importance of starting refinancing before project completion.

o Decision factors for choosing lenders and mortgage brokers.

o The criteria Kirsty and Gary use to determine a good deal.

I'd Like Help With Setting My Goals

Leave an honest review of Expat Property Story
Join our Mailing List to join our WhatsApp group AND access our 37 Question Due Diligence Checklist AND our 23 Step Guide to Buying Property at Auction AND our Newsletter
Follow Us on Instagram
What's the one thing you’re struggling with in UK property

Where to meet Expat Property Investors (For FREE):

Hong Kong: Pacific Coffee, 2/F, Central Building, Central (1st Sat of month from 11:30 am)

Dubai: Holiday Inn, Science Park (1st Weds of month from 7pm)

Singapore: The Providore VivoCity (1st Sat of month from 10:30 am)

Keywords

Buy refurbish refinance, BRR projects, Property investment, Remote investors, UK property, Single lets, Serviced accommodation, Property portfolio, Refinance process, Project management, Bridging finance, Auction properties, Trade team, Renovation efficiency, Property valuation, Tenant agreements, Mortgage broker, Crime rates, Google Street View, Property photos, Renovation costs, Project timeline, Rental income, Tenant screening, Property surveys, EICR certification, Pla

  continue reading

250 episodes

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