Hi Ranjan, Loving your channel, you make things so much easier to understand. However I do have a very novice question on the BRRRR method particularly on the Refinance part: Once you have added value to your property and you look to refinance. How is the money you take out (75% of new market value) yours if by refinancing you are taking out a loan with the bank. I am a bit confused on this particular point 🤷🏼♂️. It may seem oversimplistic to yourself but could you do a breakdown video on how best to approach the banks with your proposal of refinance?
Finally someone who speaks the truth. All these fake gurus saying BMVs are everywhere and simply do a tart up job and pull all you money out are deluded there to sell courses. Every house I go after at the moment goes for stupid money... markets too hot a lot will get burnt unless you have your head screwed on. Would love to see a video on how to find/buy commercial deals there no easy place to find them like there is residential.
Thanks for your feedback. Did you miss video th-cam.com/video/FdETdmInG9c/w-d-xo.html (at the end of the video is one of our recent (Feb21) commercial deals and how it was found)
Hi Ranjan, thanks a lot for this video. Doing the BRRRR strategy, after the refurb, do you refinance before the "6 months rule" ends or wait till the 6 months rule ends. If you wait, do you rent the property before refinancing? This way you're making some money whilst waiting to refinance. What do you advice? Thanks a lot
You rent the property as soon as you can .some residential lenders don’t apply 6 month rule, for instance a light refurb mortgage. With commercial property and commercial loans there is no 6 Month rule
@@ranjanbhattacharya-succeed7617 Hi Ranjan, I appreciate you getting back to me. I acknowledge it's a different thing, but you still have to wait for it (unless there's a fast-track option). Would you say not to bother?
Ranjan I am living in Hounslow (South West London). I am planning to buy a house which needs Refurbish. I am really looking for a good Planning Consultant / Architect and a good Developer to get a planning permission approval from Hounslow council and further develop the house. Thanks for help
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Hi Ranjan,
Loving your channel, you make things so much easier to understand.
However I do have a very novice question on the BRRRR method particularly on the Refinance part:
Once you have added value to your property and you look to refinance. How is the money you take out (75% of new market value) yours if by refinancing you are taking out a loan with the bank. I am a bit confused on this particular point 🤷🏼♂️.
It may seem oversimplistic to yourself but could you do a breakdown video on how best to approach the banks with your proposal of refinance?
Finally someone who speaks the truth. All these fake gurus saying BMVs are everywhere and simply do a tart up job and pull all you money out are deluded there to sell courses. Every house I go after at the moment goes for stupid money... markets too hot a lot will get burnt unless you have your head screwed on. Would love to see a video on how to find/buy commercial deals there no easy place to find them like there is residential.
Thanks for your feedback. Did you miss video th-cam.com/video/FdETdmInG9c/w-d-xo.html (at the end of the video is one of our recent (Feb21) commercial deals and how it was found)
That's why jv's cash investors are losing a lot of money these days. Properties are being bought for too much and being sold for a loss.
Your hand writing is fine Ranjan it’s way the better than most doctors mate lol . Enjoyed the video 👍
What is your view on buying a flat without outside space in zone 3 as an investment?
Hi Ranjan, thanks a lot for this video. Doing the BRRRR strategy, after the refurb, do you refinance before the "6 months rule" ends or wait till the 6 months rule ends. If you wait, do you rent the property before refinancing? This way you're making some money whilst waiting to refinance. What do you advice? Thanks a lot
You rent the property as soon as you can .some residential lenders don’t apply 6 month rule, for instance a light refurb mortgage. With commercial property and commercial loans there is no 6
Month rule
What about certificate of lawfulness? Heard some stories of people having to punch holes in their extensions to get the certificate retrospectively.
Certificate of lawfulness is a different thing. Quite different to what I am on about which is prior approval
@@ranjanbhattacharya-succeed7617 Hi Ranjan, I appreciate you getting back to me. I acknowledge it's a different thing, but you still have to wait for it (unless there's a fast-track option). Would you say not to bother?
Yes you have to wait because you have to sequence applications in the right order to reach the end game
Ranjan
I am living in Hounslow (South West London). I am planning to buy a house which needs Refurbish. I am really looking for a good Planning Consultant / Architect and a good Developer to get a planning permission approval from Hounslow council and further develop the house. Thanks for help
Ok and? Lol
@@Omares112 haha lol