This video has helped me big time today. Especially the rough budget bit at the end. Went to view a house today, listed far too high for the state of it. Using your rough budget it would be the 30k or more scale. I didn't walk away.... I RAN away!
Glad it helped! I use it all the time to cost up a property when I'm on a viewing without having to go into extreme detail on the analysis. Seeing lots of hot properties at the moment needing lots of money spending on it and they're already above market value
You never know! The UK is such a unique market and weirdly similar but so different at the same time so US & Canada! Also - getting close to 1k now! How long do you think it will take to get the last 200 subs?
this was a great video tbh. I know the numbers e.g 7, 21 etc are out dated now but it really does help and the rest of the video helps a lot too, easy explanations and examples of things to look out for as well as red flags
@@MattBrighton viewing a house with a covid time limits, no electrics on a damp day-still learning, should have taken a video like u said, decent yeild and tennant just moved in at least 👍
love the vid,, im from the Birmingham area, unfortunately a lot of it is article 4. I I'm thinking of investing in Nottingham as it as a sizeable student population and terraced houses are relatively cheap there. Doesn't a property survey prior to purchase highlight any issues with the property?
A survey will definitely help. However if your offer is off by a few thousand there’s no guarantee the seller would continue if you tried to then knock them down on price. Which could risk your costs so far purchasing (legals, fees etc) but a lot do get lucky
5:18 Potential correction: Many local councils offer help and guidance for individuals to safely remove their own asbestos - usually for free. They provide the bags at the local waste disposal center and they properly dispose of it. You must do the removal yourself. DO NOT ATTEMPT UNLESS YOU PLAN TO USE FULL AND PROPER SAFETY EQUIPMENT, but a grand saved is a grand saved. You absolutely will need a proper respirator and full PPE
I've heard of this more recently about bagging it up and giving it to the council if done properly with full PPE. Definitely will help save some cost if proper precautions are taken
Hi Matt. I've 8 btls at mo 4 flats 4 terraces looking to move into flipping, refurb, title split arena, likely to include bridging. Could we have a chat?
Where are you getting these prices from? I am pricing out a 1br flat in london that needs total repair and the quotes are coming in at 60k-80k... wondering why it's so drastically different?
A qualified surveyor could also save you thousands on the things you might not see as an untrained, inexperienced person, an experienced surveyor can save you thousands. They spend many year’s becoming qualified and experienced for a reason.
They can indeed. If you've got a keen eye you can spot most obvious problems but good to get a surveyors pair of eyes especially to spot any structural issues.
It will come up in the surveys. Up north a lot of old housing estates were built on top of mine shafts deep underground so they often look for subsidance claims etc as the ground settles or when shafts collapse
If you don't touch the garage then usually you don't need to remove it, Asbestos is ok when left alone. But if you wanted to say, convert the inside of the garage you'd need it removing as it would be unsafe for workmen to do anything in there if they start drilling, hammering, etc.
@@MattBrighton thanks for your reply, I spoke to a couple of letting agent and I got mixed opinions. The garage in question is at the back of the property and I'm not planning to convert it.
@@AlexSavage Ahh, if it's at the back of the garden that's even better. The best thing to do is disclose in the sale that the garage has an asbestos roof (so that when the buyer gets a survey done, they're already aware and don't try to knock down the price of the offer afterwards) because of the 'surprise' roof.
Do you look for anything not mentioned on the video when you go to a house viewing?
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These videos are insanely good. Informative, time-stamped and not trying to sell me a course😂 appreciate it!
Haha thanks Kai! No get rich quick courses here!
Such a great video for someone like me looking to buy this year.
This video has helped me big time today. Especially the rough budget bit at the end. Went to view a house today, listed far too high for the state of it. Using your rough budget it would be the 30k or more scale. I didn't walk away.... I RAN away!
Glad it helped! I use it all the time to cost up a property when I'm on a viewing without having to go into extreme detail on the analysis. Seeing lots of hot properties at the moment needing lots of money spending on it and they're already above market value
Really helpful and straightforward explanation of refurb costs, thank you!
Glad it was helpful!
So much value packed into this video
Glad you found it useful Jon! I tried to include as much info as possible
I love learning about real estate in areas I don’t live in just in case I want to move 😂 great video I love the effort !
You never know! The UK is such a unique market and weirdly similar but so different at the same time so US & Canada! Also - getting close to 1k now! How long do you think it will take to get the last 200 subs?
Thank you for your work...we have been seeking a first home for two years.
Best of luck!
this was a great video tbh. I know the numbers e.g 7, 21 etc are out dated now but it really does help and the rest of the video helps a lot too, easy explanations and examples of things to look out for as well as red flags
Thanks for another great video Matt!
Glad you found it useful!
Thanks mate, useful video, hopefully it will prove useful in practice
Tried to include as much helpful info on it but they're the figures I usually work to :)
Banging video Matt👍🏾
Thanks Saayel! Glad you found the video useful :D
Good video, sounds trivial but I got caught out on internal doors recently-never standard sizes on older properties; you can imagine the hassle.
Ouch! I can imagine that is a pain to get custom doors plus new ironmongery
@@MattBrighton viewing a house with a covid time limits, no electrics on a damp day-still learning, should have taken a video like u said, decent yeild and tennant just moved in at least 👍
very instructive, thanks!
Glad it was helpful!
HI matt
Can you do another video like this as this one is out of date with the cost as gone up
thanks phillip
Great Video
Wow, the transition to that horrible carpet in the intro was amazing =D
Hi new subscriber love the video very informative 👍
Thanks for the sub!
love the vid,, im from the Birmingham area, unfortunately a lot of it is article 4. I I'm thinking of investing in Nottingham as it as a sizeable student population and terraced houses are relatively cheap there.
Doesn't a property survey prior to purchase highlight any issues with the property?
A survey will definitely help. However if your offer is off by a few thousand there’s no guarantee the seller would continue if you tried to then knock them down on price. Which could risk your costs so far purchasing (legals, fees etc) but a lot do get lucky
5:18
Potential correction: Many local councils offer help and guidance for individuals to safely remove their own asbestos - usually for free. They provide the bags at the local waste disposal center and they properly dispose of it. You must do the removal yourself. DO NOT ATTEMPT UNLESS YOU PLAN TO USE FULL AND PROPER SAFETY EQUIPMENT, but a grand saved is a grand saved. You absolutely will need a proper respirator and full PPE
I've heard of this more recently about bagging it up and giving it to the council if done properly with full PPE. Definitely will help save some cost if proper precautions are taken
Hi Matt. I've 8 btls at mo 4 flats 4 terraces looking to move into flipping, refurb, title split arena, likely to include bridging. Could we have a chat?
Dude that hook tho! Ehhh and he's using the methods let's go.
Hah - no special name for the framework on this one. We should do a 'rate my hook' on slack
Where are you getting these prices from? I am pricing out a 1br flat in london that needs total repair and the quotes are coming in at 60k-80k... wondering why it's so drastically different?
The video is a little older now and materials are a lot more expensive. Also typically builders in London charge a lot more
@@MattBrighton oh gosh, would you be able to do an updated video? That would be so amazing!!
I wish all property managers and "deal sourcers" knew how to cost up refurbs. Most of them are clueless
Legend
A qualified surveyor could also save you thousands on the things you might not see as an untrained, inexperienced person, an experienced surveyor can save you thousands. They spend many year’s becoming qualified and experienced for a reason.
They can indeed. If you've got a keen eye you can spot most obvious problems but good to get a surveyors pair of eyes especially to spot any structural issues.
Mine shafts? Sounds interesting do you have any case studies on this or did you not mean to say it?
It will come up in the surveys. Up north a lot of old housing estates were built on top of mine shafts deep underground so they often look for subsidance claims etc as the ground settles or when shafts collapse
You mentioned asbestos on a roof a garage, do you have to have that removed if it's in sound coundition?
If you don't touch the garage then usually you don't need to remove it, Asbestos is ok when left alone. But if you wanted to say, convert the inside of the garage you'd need it removing as it would be unsafe for workmen to do anything in there if they start drilling, hammering, etc.
@@MattBrighton thanks for your reply, I spoke to a couple of letting agent and I got mixed opinions. The garage in question is at the back of the property and I'm not planning to convert it.
@@AlexSavage Ahh, if it's at the back of the garden that's even better. The best thing to do is disclose in the sale that the garage has an asbestos roof (so that when the buyer gets a survey done, they're already aware and don't try to knock down the price of the offer afterwards) because of the 'surprise' roof.
@@MattBrighton this is about a property that I'm refurbishing and about to let
get a drone with a camera saves bring a ladder unless you see a major problem
Have 10k to invest at present
I hate old houses. Never buying one again
They can be a risk as you don't know what's behind the walls!
Really useful
Great info, thanks!