Social Housing Revolution | UK PROPERTY
ฝัง
- เผยแพร่เมื่อ 28 ก.ย. 2024
- 2024 is only 2 months in and it’s already been life changing. Social Housing has always been a major topic in the property world and one of my favourite ways to earn passive income.
In today’s video, I take you guys around one of my recently refurbed projects where I could make £60,000 profit off. However, an opportunity has arisen where I could turn this property into social housing and provide tenants with high quality homes! I plan to take social housing to the next level moving forward and I will take you guys on this journey with me!
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Great finish on the property. It looks like the contractors did a great job and made good choices.
It isn't just landlords that are responsible for the state of social housing, its also the tenants they share equal responsibility.
This will be an interesting watch. Good luck, and I hope it works out.
They were awesome and did a great job. The tenants are supposed to be monitored by the providers and support given.
1 hour a week is a joke which is what is being given and the lowest level right now 🤷🏽
I really like what you’re doing here and you have my support, but to answer your “why not”, in my eyes it’s more about providing a place to stay to a larger number of people that need it, rather than a small subset of people getting really nice accommodation like in this. There’s nothing wrong with this approach fundamentally they tackle the same problem but, if the problem is accommodation to people that need it, then quantity is better than quality (so long as basic needs are met). This is purely because you help more people - high end/luxury doesn’t provide more help it just gives some people who need help more comfortable living environments (but yes it still helps them).
Can you give us a breakdown of the refurb costs?
As long as they can break the lease and you don’t charge excessively and there’s no FRI obligations, depending on the support group not all aspects of this property even for move on would be compliant. Flips are one thing long term viability is another. Good luck though it’s a sensible thing to do while the markets a bit wobbly and uncertain.
Smashing 💪👌👌👌🏴👍
Thank you 🙏🏼
Great work Ste 🎉🎉🎉🎉 keep smashing it
Ste, everything you said is correct and the house is stunning. Young people will love it. However, from owning a supported living company and managing a local authority's supported living team of over 24 properties, 3-bed properties without permanent staffing often leads to issues. There's numerous reasons for this, but 1/2-bed properties work best as there's less friction which minimises the impact on homes. I know this doesn't do as well on revaluations but what I usually do in my homes, depending on the backgrounds of the young people is to convert a 2-bed to a 3 to add the value then convert one bedroom to a study area after the valuation. I know you aren't doing the actual support but stipulating to the provider that the property can only be used by two young people honestly will help. If the support provider puts three young people in a home with shared facilities like this, in most circumstances, I'd be questioning their morals of money/quality of outcomes. There are definitely exceptions though.
Fair play for quite literally opening up the door to this… “Balls of Steel Ste” is your new nick name from tho mate… 😮
Come back in 12 months and let’s see if they are still steel 🤣
Looking fab! Transformation is unbelievable. How long did it take to get this done?
It is amazing you and Isabella want to make a change in your home city. 😊
Changing lives. A great route and idea 💡. Making a difference 👏🏿👏🏿👏🏿
Day by day mate ✌🏽
Wow, amazing tranformation!
Amazing job ste
Levels🎉😵💫👌🏻📈📈
🙏🏼
I’ve also seen in other city’s the conditions that are being offered it’s almost unliveable, amazing commitment and effort. Really proud to be apart of the journey learning from the best 🏆🏆
Great work next level making a difference 👊