Mitch has to be one of the most genuine people in property in the UK. Been following his journey for a while now and I have learnt so much just following his instagram and TH-cam which we have used in our own developments. Those that want to do will find a way.
A bridging lender won't give you more than the purchase price up front, they will usually give you 75% gross at purchase and some will lend 100% of refurbishment costs (up to 65/75%) of GDV. So you still need the 25% deposit and you have to evidence the works.
Mitch is a really good role model for young kids. He should do some mentoring on how to take the opportunities that come your way and make something out of your life. He is very articulate for a guy who dropped out of school at 16.
Paragon are good but they will only lend 70% LTV of an HMO that has been renovated in the last 12 months. There are other lenders that will give you up to 80% at the 6 month point, you will be paying a lot for the valuation however, whereas Paragon offer free valuations on every property.
Great listen guys 👏 I have 3 HMO'S myself in Kent let out to 4 tenants in each as ive always thought it was better than going down the licence route but this has now got me thinking a larger HMO then remortgaged to a commercial mortgage is the way to go. I don't have access to any funds for approx 3 years due to mine being on fixed rates until then, what would you guys suggest for myself to carry on the portfolio before that ? Thanks Tim
22:30 "18? you bought 18 appartments???" You sound as sceptical as the audience watching this. All his answers are sketchy. Doesn't know his own numbers "yeah I think so", "I had 'some' money". His leveraging must be sky high. His figures and time line doesn't add up. You sound like you don't believe him Jack. I think you need to go do a tour of the £11m empire. I've been doing this for years and can't see how he got to those figures starting as a locksmith.
Hey mate, I have to agree. I’m 26 and now looking to get into property. Looking at HMOs and AirBnBs (I’m in a particularly scenic part of Wales so makes sense here). All of the people I’m looking at, like the Fontaine Brothers for example, seem to be doing insane numbers but very rarely give specifics about how they started. They also seem to find builders to do refurbishments for pennies on the pound and then the end value of the property seems to be substantially higher than the rates of properties in the area. It all seems far too good to be true, and it’s extremely hard to stay motivated watching all these people apparently crush the game (not to mention most of these people buying up properties on my neck of the woods). There’s so much unsaid it just leaves what these people do say looking like Swiss cheese. A ton of holes and not much substance.
@@MitchNunnProperty don't compare the Fontaine brothers to MitchNunn, Mitch is the real deal, giving great advice. The fontaine brothers are scammers, look at the balance sheet.
Why doesn't he know dates and numbers? Yeah 'it was about 4 years ago'. 'cant remember now', 'yeah I think'... All the answers are sketchy. Keep grilling these people Jack.
![[Live สด] การออกรางวัลสลากกินแบ่งรัฐบาล งวดวันที่ 16 พฤศจิกายน 2567](http://i.ytimg.com/vi/wPd7VFfWHIA/mqdefault.jpg)
Mitch is one of the most impressive property developers on socials at the minute. Knows his stuff and doing big things in the HMO space
Thanks Patrick! Your words are appreciated 🙌🏻
Mitch has to be one of the most genuine people in property in the UK. Been following his journey for a while now and I have learnt so much just following his instagram and TH-cam which we have used in our own developments. Those that want to do will find a way.
Really helpful...
Cheers Gents
Great podcast gents👏👏
A bridging lender won't give you more than the purchase price up front, they will usually give you 75% gross at purchase and some will lend 100% of refurbishment costs (up to 65/75%) of GDV. So you still need the 25% deposit and you have to evidence the works.
Great video. Mitch is a very impressive individual.
Mitch is a really good role model for young kids. He should do some mentoring on how to take the opportunities that come your way and make something out of your life. He is very articulate for a guy who dropped out of school at 16.
Paragon are good but they will only lend 70% LTV of an HMO that has been renovated in the last 12 months. There are other lenders that will give you up to 80% at the 6 month point, you will be paying a lot for the valuation however, whereas Paragon offer free valuations on every property.
Hi jack when renovating a property how many times on average do you visit it per week?
Great listen guys 👏 I have 3 HMO'S myself in Kent let out to 4 tenants in each as ive always thought it was better than going down the licence route but this has now got me thinking a larger HMO then remortgaged to a commercial mortgage is the way to go. I don't have access to any funds for approx 3 years due to mine being on fixed rates until then, what would you guys suggest for myself to carry on the portfolio before that ? Thanks Tim
Bridging pal
Depending on the lender you are with and the current LTV, you may be able to get a further advance?
22:30 "18? you bought 18 appartments???" You sound as sceptical as the audience watching this. All his answers are sketchy. Doesn't know his own numbers "yeah I think so", "I had 'some' money". His leveraging must be sky high. His figures and time line doesn't add up. You sound like you don't believe him Jack. I think you need to go do a tour of the £11m empire. I've been doing this for years and can't see how he got to those figures starting as a locksmith.
Hey mate, I have to agree. I’m 26 and now looking to get into property. Looking at HMOs and AirBnBs (I’m in a particularly scenic part of Wales so makes sense here).
All of the people I’m looking at, like the Fontaine Brothers for example, seem to be doing insane numbers but very rarely give specifics about how they started.
They also seem to find builders to do refurbishments for pennies on the pound and then the end value of the property seems to be substantially higher than the rates of properties in the area.
It all seems far too good to be true, and it’s extremely hard to stay motivated watching all these people apparently crush the game (not to mention most of these people buying up properties on my neck of the woods).
There’s so much unsaid it just leaves what these people do say looking like Swiss cheese. A ton of holes and not much substance.
If Jack wants to tour the £11m portfolio, I’m happy to take the time out to do it! We’ll see who’s sketchy then 😊
@@MitchNunnProperty don't compare the Fontaine brothers to MitchNunn, Mitch is the real deal, giving great advice. The fontaine brothers are scammers, look at the balance sheet.
Why doesn't he know dates and numbers? Yeah 'it was about 4 years ago'. 'cant remember now', 'yeah I think'... All the answers are sketchy. Keep grilling these people Jack.
So you want him to would like a robot ?
@@andyj416 what is 'would like a robot'?
fuck me this guys asks some personal info, how much money you gave in your bank, where do you keep the keys to your safe.