Hello Stephen, this is probably my 8th video of yours I've watched since coming across this channel yesterday & just want to thank you for the sober, informative and quality content. I appreciate the thorough breakdown & summary of the vital elements to consider from your hard earned 1st hand experience.
Great breakdown Stephen, there are a lot of videos on YT showing deals that work so it's good to see one that doesn't and how you evaluated that decision
Hey Noble someone did buy it soon after I pulled out for a lower amount than what I offered but still higher than I was prepared to pay by quite a lot I believe. But yes I will keep a look out for it to see what they do with it in case I missed something 😬.
Hi everything is possible, you just have to find the right property that allows you to start with less than £75k. If that is the money to buy the property you can do that with £75k and then borrow the funds to convert via a bridging loan which is what most people do. Just dont get a fixed rate loan (exit penalties) as you'll be refinancing out of it when you've convverted the property into a new loan. Fix it at that stage if you want to.
@@StephenDuncombetv thanks I was hoping to get a vacant freehold commercial unit that I could convert into a flat behind the shop or as a whole for my next project I was hoping that would be enough
Did the architect say you could only get one flat because the first floor is too small, I think the new minimum size is 37m2 please correct if I’m wrong
+Tobias Henry no this was before the minimum size standards came in and I believe you can still do less than 37m2 flats but you’ll need to go through planning permission just not under pd rights.
great audio, great info, thanks for the videos
Glad you like them!
Hello Stephen, this is probably my 8th video of yours I've watched since coming across this channel yesterday & just want to thank you for the sober, informative and quality content. I appreciate the thorough breakdown & summary of the vital elements to consider from your hard earned 1st hand experience.
Thanks I really appreciate the encouragement. 😀
great video! subbed.
Great video Stephan like always, thank you 🙏
My pleasure Ismail
Thanks for the great content Stephen, your channels hockey stick moment is just around the corner
Thanks Alex for the kind words and for watching.
Great breakdown Stephen, there are a lot of videos on YT showing deals that work so it's good to see one that doesn't and how you evaluated that decision
+v&v walker yes so true. I like to understand why people say no as much as yes. Probably more learnings in that decision.
Great video. Would be very interesting to see what the property ends up as once someone purchase it.
Hey Noble someone did buy it soon after I pulled out for a lower amount than what I offered but still higher than I was prepared to pay by quite a lot I believe. But yes I will keep a look out for it to see what they do with it in case I missed something 😬.
Great breakdown Stephen. It's easy to become a motivated buyer when you're invested in the opportunity. Not every deal stacks as you've highlighted.
+Raphael yes it took me a good day to accept I should walk away from it. But if the price is not right let the numbers guide you. Thanks for watching.
Great video Stephen!
+leo akin thanks man.
What template are you using?
Hi i was wondering If you thought £75k was enough to start a commercial to residential project?
Hi everything is possible, you just have to find the right property that allows you to start with less than £75k. If that is the money to buy the property you can do that with £75k and then borrow the funds to convert via a bridging loan which is what most people do. Just dont get a fixed rate loan (exit penalties) as you'll be refinancing out of it when you've convverted the property into a new loan. Fix it at that stage if you want to.
@@StephenDuncombetv thanks I was hoping to get a vacant freehold commercial unit that I could convert into a flat behind the shop or as a whole for my next project I was hoping that would be enough
Did the architect say you could only get one flat because the first floor is too small, I think the new minimum size is 37m2 please correct if I’m wrong
+Tobias Henry no this was before the minimum size standards came in and I believe you can still do less than 37m2 flats but you’ll need to go through planning permission just not under pd rights.