@jacksmith yes totally agree. This would be amazing. Even just a breakdown of average costs. Say changing a kitchen. Redoing carpets. Hiring a plumber, site visits or assessments etc.
Are there deal sourcers around that will sell rent to serviced accommodation deals? I will be looking to expand my serviced accommodation portfolio around March/April.
If neighbours house in exactly same condition sold for 230k last year, why would the owner agree deal at 180-185? In case they agree the is no point in doing it up. Buy it for 180-185 and sell it for 230-240. Get profit of 45-60 without any effort.
Hi Andy, yes the link to sign up to our deal emails is in the description of this video. Simply add your information and as and when we get property deals in, we will send them out
This is a great video but one thing is missing. Comparing the investment house to the one next door which sold for £230k at the very top of the market is not setting a realistic expectation of what you might achieve thanks to current market condition. High interest rates, cost of living crisis & high energy bills have all had an affect on the market and as such the property market is not the same as a year ago. You need to factor this in to your calculations for the property value, and adjust your offer accordingly. The same house next door which sold for £230k last year would probably be worth
That’s true, but because this property sold at the beginning of last year, the market increased a lot more before September than its decreased since. But yes market conditions is always something to factor in to any property purchase
I understand you have to pay Stamp Duty if you own another property as your main residence but does that include properties below the £200k threshold? Alternatively, if you are buying through a Limited Company how does the Stamp Duty liability affect the purchase?
Yes you pay the additional rate stamp duty (3%) on any second home purchase above £40k. All transactions made by a Ltd Company are also subject to the same stamp duty. When you come to sell the property the stamp duty is offset against your capital gains bill.
Could you make a video on how you calculate renovation costs?
Yes I can definitely look at it
@@jackdavidsmith please do :))
@jacksmith yes totally agree. This would be amazing. Even just a breakdown of average costs. Say changing a kitchen. Redoing carpets. Hiring a plumber, site visits or assessments etc.
This video is bang on 👌🏼 hope your channel takes off man always decent content
Thanks Callum 🙌 a lot of content coming this year, stay tuned 👌🏼
Very insightful video once again Jack. Thank you
🙏🏼
brilliant video, thank you and all the best
Thanks Ryan 🙏🏼
Hi Jack
Great content you've got going only juast come across your channel
House looks very familiar on my road in Eccles
Great video as always :) can you do a example video of the whole proces. Like a series video :)
Thanks :)
Yeah I’ll look to do something like this soon!
Great Video Jack! looks like a great deal 🤑
Thanks mate! 🙏
Thanks for this such a great video
Are there deal sourcers around that will sell rent to serviced accommodation deals? I will be looking to expand my serviced accommodation portfolio around March/April.
When are you doing the one day training to do deal sourcing and flips
Jack, how do you know cost of refurbishments accurately? Is that from experience, quote from building companies, etc?
Great advice Jamie as always 👊
That shoulda been Jack 🙄😆
If neighbours house in exactly same condition sold for 230k last year, why would the owner agree deal at 180-185?
In case they agree the is no point in doing it up. Buy it for 180-185 and sell it for 230-240. Get profit of 45-60 without any effort.
You definitely could sell it straight away. However you’d likely be all in at around £210k by the time you factor in all the costs
Hi Jack, can you add me to your distribution list and how can we get in touch re further info on the houses you have?
Hi Andy, yes the link to sign up to our deal emails is in the description of this video. Simply add your information and as and when we get property deals in, we will send them out
Great video! What about capital gains tax?
This is a great video but one thing is missing. Comparing the investment house to the one next door which sold for £230k at the very top of the market is not setting a realistic expectation of what you might achieve thanks to current market condition. High interest rates, cost of living crisis & high energy bills have all had an affect on the market and as such the property market is not the same as a year ago. You need to factor this in to your calculations for the property value, and adjust your offer accordingly. The same house next door which sold for £230k last year would probably be worth
That’s true, but because this property sold at the beginning of last year, the market increased a lot more before September than its decreased since. But yes market conditions is always something to factor in to any property purchase
How come the bills are so high? 1500 during refurb period is more than I pay for an year
Where did you get your training
Assess no Asses 😭😭 but great video Jack 👏
What do you mean..?👀
I understand you have to pay Stamp Duty if you own another property as your main residence but does that include properties below the £200k threshold? Alternatively, if you are buying through a Limited Company how does the Stamp Duty liability affect the purchase?
Yes you pay the additional rate stamp duty (3%) on any second home purchase above £40k. All transactions made by a Ltd Company are also subject to the same stamp duty. When you come to sell the property the stamp duty is offset against your capital gains bill.
Cowboy