A lot of buy to let lenders are very picky about the condition of a property they lend on. Which is a shame, because it makes perfect sense for us to buy a property which needs some work doing to it, and add some value. What adds to…
Who am I?
Before I go any further let me introduce myself. I am Peter Jones, ex-Chartered Surveyor, author and property investor. I’ve been renovating property since 1995 and I’ve literally lost count of how many properties I have renovated.
As I write this I currently have 3 projects on the go and another one in the pipeline. Typically these aren’t big, flashy developments, mainly they are normal residential houses, like terraced houses and semis, for which I know there is a ready market when I finish the project. It’s bread and butter stuff, I buy the property and usually pop them onto the market 3 or 4 months later and collect my profit. Nice and easy. Nothing complicated.
Some I keep, hold and rent out. If I want to take my profit out, I’ll refinance. The others I sell-on at a good profit.
There’s no reason why you shouldn’t be doing the same and making profits of your own.