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House Renovation Tour - Before and After (UK Property Flipping)
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- เผยแพร่เมื่อ 7 ส.ค. 2024
- In this video I give a tour of my latest house renovation project. This before and after video will explain exactly what I did to flip this property.
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Hi Jack been watching videos for a while and love the content this is the video when waiting for signed up to email straight away.
@@CHESTER245 awesome bro! Can’t wait to sort you some money making deals 💰🏘
@@jackdavidsmith can you explain the capital gain tax and how much you will pay for this project
Thanks
In the video you said it was around 10 weeks start to finish but did you not have to wait 6 months before selling or do you have a way around this
@@Harry-dm8or why he has to wait 6 months?
The amount of content and information this golden man is giving for free is extremely the best oportunity us subscribers have. Love from bangladesh. Keep grinding my people
Amazing that for £26,000, I want to turn my attic into a spare room and got quoted £50k 🤯
Mate that’s a joke, fuck that 😂😂
Yea that’s called a loft conversion. It’s not just turning an attic into a spare room. People are always surprised when I quote £30k+ but have no idea of the work involved!
@@rcokeman9495 do you have a instagram?
How big is your attic?
@@ItzJigz187
Total footprint of the house, roughly 4.8m x 9.5m (for easiness 5mx10m)
Hi jack, just came across your channel as I’m very much into property development, looking into becoming a Estate Agent and then would definitely look into house developing. Thanks for the inspiration 👏 👏. Great job too very well finished 👍
I have to watch your videos more than once because I also like to read the comments. Apart from the excellent free information you provide, and let’s face it there isn’t much useful anything anymore that is free, but that aside I love that you reply to questions too. Great work on finding the property at the right price, getting good contractors who also did an excellent job, and WHAM sold for over asking. Brilliant. On to the next.
Wow, 10 weeks £26,000 and that included a wage for the contractors. That’s amazing. It looks beautiful.
Well done to you for finding it, finding the right contractors and getting it done! Hope to be following in your footsteps soon.
nice to see you're doing more video jack. Good valuable content right here 💯
I would have open the kitchen and living room and had the other reception room as a bedroom. To make it a 3 bedroom property. But great Job!
Looks fantastic jack,. you have done an amazing job there !
Great video! Explained in detail all the renovation that has been done.
Well done mate. Nicely presented home and a good profit. 💪👍
The amount of content and information this golden man is giving for free is extremely the best oportunity us subscribers have. Love from bangladesh. Keep grinding my people
Appreciate the support!🙏
Just bought my first property today, time to start the renovation 😃
This is incredible jack, completely unrecognisable!
Very nice brother ! At least you said how much your spend . Great 👍 blessing you 🙏🏻
i’m really late to this video but this is amazing! deserves more attention
When you look at a property to renovate, did you hire a builder to advise on what is needed or do you know from experience? Could you say how much taking back to brick was and then replaster?
Hi Jack. I love this!! Very well done. I want to start doing this with my son. Can I ask how you finance renovations? Thank you
Cracking job mate well done 👍🏻
Thanks mate!
Hi - just to mention, that wall in the bedroom you thought about taking out, it might have been providing structural support to the rafters
Great 👍 job Jack!
How long did it take for you to complete this project from keys to the house to on the market? Great video!
That fireplace was lovely though
Well done. Great job.
🙏
Hey Jack, that's awesome, I am amazed by how little you've spend on the reno. I am planning a similar reno in Bromley, 3 bed bungalow and I am quoted almost double what you spend without including 2nd fix, just labour. How much did you spend on demolition, skimming, rewiring and plumbing? How did you manage to get such a nice deal? Does location make such a difference?
Yes, because of the location I will have paid much less than most would
Hi Jack I have watched your videos i think they are amazing .. I would to buy renovate and eventually sell our council house .. I think you will be a good role model ..🙏🙏
Glad to see you back on the screen Jack, a lot of people will learn a lot of things by following your progress. Looking forward to watching your journey 👌🏻
Thanks bro! Glad to be able to help! 👌 any other topics that would be helpful to cover?
Yeah he is really doing great so far
Bravo
Well done!
Thanks 🙏
Hi Jack ,just want to ask roughly how much funds initially one would need to do what you are doing.i love renovating and would love to do sonething similir but dont kniw where ans how to start from.Many thanks
Yesss lad! We're on similar journeys with our renovations man. Literally just rewired my house and now about to fit my kitchen.
What a learning curve. I'm looking forward to seeing more videos from you mate🙏👌
That’s awesome Reece! What’s been the biggest learning curve so far?
@@jackdavidsmith doing the lot by myself mate😂👌
@@ReecePowell as I’m you’ve learnt to do most of the renovation work?
@@jackdavidsmith I'm a sparks by trade mate so rewired the place myself and put my hand to the rest of it. Come jump on my channel as well mate, see what we got up to😂👌
dream job... I really want to do this when i am older
Hi Jack, sorry to message on here. I just wanted to know what you’re experience is with polystyrene insulation from the 70s? A reno I’m buying is covered in it. Is it easy enough to take out & do the walls need reinsulation or is it just an addition? I searched Google but don’t know the exact name of the material, so I keep getting the wrong results 😂
The numbers on this are amazing! How did you secure it for only £95k?
Nice one mate, but Why keeping an electric shower?
Hi Jack, if you remortgage this to get your money out would it pass the mortgage stress test? I am told the stress test would be eg. rental coverage stress test: mortgage balance x 4.5% (divide by 12) x 145%. Is this true and the deal has to pass to be able to refinance after the referb?
Awesome
Any chance of a video on how to source properties? Especially properties that need a refurb
I grew up in the area. Prices have sky-rocketed in the Midlands recently. I would like to venture into property development. Who are your builders? Hiring trades people is my biggest concern. Maybe you could do an episode on this.
Hi, hope you're keeping well.Really like your video you have explained it very clearly.I would like to do my first flip but I don't have any knowledge or expertise on it I would like to do a JV with you or your colleagues. I'm looking for a property of £100,000 with 50% of my own money.please advise if we can to do a JV together.Thanks
If the whole of the house went back to brickwork how come it still has all the old skirting, door frames, architrave throughout and old pipework to rads?
Looks lovely , but if your neighbours are looking through into your hallway while someone is in the bathroom it’s not frosted glass you need , it’s the police 😆
😂😂
where is the sign up for deals? sorry cannot find it. I am also subscribed but should there be another link ?
Do you source properties for investors only? I am not a investor but want to buy a home for myself but completely renovate it to my liking.
Reallly good but after the good thinking of the old people the boiler in the loft maybe isn’t the best great work though matey
Please can you reply with the link so i can sign up, looking forward to be seeing the good deals
26k for new kitchen, new bathroom, moving the boiler, new radiators, electrics, plastering and decorating, carpets, doors, garden, plus labour - builders, electrician, plumber. If you ask any company for a quote for a full renovation like this you'll get 30k+ just for the work. Materials, fittings cost quite a bit on their own so the builders would have to be crazy cheap?
Hmmmm….new kitchen maybe 10k, bathroom maybe 5k, could be 4-5k for floors and walls and ceilings
The porch wouldn’t have been very cheap considering he had upvc installed. New boiler and rads ain’t gonna be cheap but in fairness it’s probably the cheapest ‘new’ boiler you’re likely to find.
I can’t see how this was done for less than 35k considering he had work done on the outside too.
@@superpantman Tradesmen get very large discounts for materials, I would be surprised if he paid more that 2k for that kitchen and if the cabinets came all put together it would take 2 guys a day to put up, if that, so say another £600. I doubt the tiling would be 7.4k but you never know
How much did you sell it for and how much profit did you make from it.
I want to be property developer. Can you suggest me where can I get more training?
Jack look up Waves car wash franchise. Might be interesting to look into. Need £30k I think minimum. More cash flows are better, right?
Hey Jack, really appreciate your videos! Is the link for weekly deals still active?
Yes it is, apologies, I had to update it
Hi Jack , I am very interested to invest , how can I find this form you mentioned?
Can you please do a detailed breakdown of the costs? It would be super helpful
I would like to see this too as getting all that work for 26k is really good.
Love the video. Question: how do you get builders to do such a great job for so cheap?
I’m glad! It’s all about getting the right people around you. Great recommendations from great people
hi many thanks i will think my next bossiness property if you don't mind can you help any think i don't know please
Did you have full new electrics and consumer boards?
Would love to get involved in projects and hopefully deals of my own but only have a couple grand in savings
What area do you buy in? Or what area is this?
Thanks for the video, very impressive numbers - just seen below that you achieved 10k over asking too. Would you mind explaining how you financed this deal? Was it financed personally or through JV?
Personally + investor finance 👌
@@jackdavidsmith thank you! Trying to educate myself before looking seriously at a few myself. All the best!
how did you get it so low? was it listed as that?
I have no knowledge of property and wondering if there's anyone that would mentor me? Property is the best investment out there
Hello mate, I'm in the same boat as you, wanna add on snap?
My house went up 20% in two years. It’s mad mad stuff
How do you find properties that need renovating?
Do use replace all skirting and doors Aswell
yeah, fine, but I think you need to have some sort of connections... I was trying to buy for myself a house requiring renovation but I finished empty... there were some houses indeed I was interested but they were subject of the manipulation with estate agents, with so-called "modern type of auction" as well standard auction, where they just wanted to play with you to extract money and not really sell the house
On average how long does a property take to sell? Thank u for the video. Exactly what I'm looking for!
It took 7 days and I got 10k over asking
@@jackdavidsmith wow that's incredible. Congratulations!
@@jackdavidsmith also, is this due to the frenzy of the market ATM or do u think once things get back to normal (if ever) it would look the same or take longer?
Also if someone had £100 000 cash to start investing and didn't want to take loans, where would be the best starting point?
Thank u so much
@@ummnuraiyyah-deen it won’t stay like this forever.
For someone with 100k I would say flip houses in the north to build your cash pot up
So Jack what did you do on the house?
From Canada I like the finishes that you did to this house. But, one thing I found odd was the toilet was in a separate room, with no sink to wash up. Here we would have a “full bath” or “ master bath” meaning sink, toilet, bath tub and a shower. Usually the shower is included with the tub. And many houses will have a “powder room” with a toilet and a sink.
Most individual toilet rooms have a small corner sink; we may not have been able to see it if it was behind the wall. That being said, some very old properties in the UK have individual toilets with no sink at all, I can think of two houses I've come across with this setup (which is pretty gross, to be honest).
Where did you get the money from to buy your first house to renovate?
Why did you forget to mention the legal fees and stsmp duty in your breakdown at the end?
Do you pay tax on the profit ?
Are you not meant to break bond the slabs?
Did you test the artex for asbestos?
How much of the renovations were DIY? Aside from ripping off carpets, wallpapers etc. Did you hire people for plastering, bathroom fittings, kitchens etc?
Yea of course he did. He didn't do anything. It's his family just using inherited money and hiring people
Which building trade cost u the most when renovating?
Probably the central heating system. Replaced all pipes, radiators, boiler and moved the boiler.
That was the most expensive single thing we did
How much did this sell for?
Hi Jack, great video as always! Can I just ask, when you say the price of the house was £95,000 do you include all the legal fees, stamp duty etc in that figure?
No including all fees and stamp it was about £101k
Nice! What area is this? 😮
Which area in the northwest did you find this ?
Can you tell us where you source your kitchen units/ worktops please
In this project, howdens
Did you paint the doors or do you buy them in that colour?
Painted them
Who do you use to sell them with? Traditional estate agents? I know you have a couple of websites but there are no homes for sale on either.
We sold this one through a traditional agent but we sell properties across the country through our company Homespot
What areas do you recommend on, bungalows or semi HMO
What do you mean semi HMO?
Can you create a course about real estate investing, renovation,refurbishing all of that
The Property Circle. That’s where it’s at. instagram.com/thepropertycircle_
I honestly don’t see how you can have the work done for less than 30k. I’d probably estimate more like 35k.
Were there some mates rates going on?
Hi Jack,
have you refinanced any properties so far and kept them as a rental or only doing flips at the moment?
How much of the profit on a flip is going on taxes?
I don’t keep any houses. It’s an intentional business decision and I might expand on a later video as to why.
19% tax on profits because I bought in a company
@@jackdavidsmith that would be really awesome Yeah 🙏🏻 Thanks for the reply
Me and my family are looking for one in Birmingham Wolverhampton area
English people are obsessed with rooms. While I’m not a fan of too much open concept, but this house has too much rooms in it! Lol.. Also, I despise carpet floors.
But I understand your design decisions especially for a house flipping business perspective. Still, nice renovation.
How did you know that removing the chimney breast would not increase its value? Comparable’s?
yeah you say the reno costs but you have to take in the labour costs too?
No, it’s all included in that price
I just cannot believe how cheap it was! Where I'm from, £26k would only get you the kitchen. Anyway I'm wondering do you all the sourcing, eg. kitchen cabinets, carpet etc. or the builders do?
Yes when my team renovate houses they source everything 👍
hi did you get a surveryor to value the property or are you going off your own calculated whim?
Own calculated due diligence. Offer accepted after being on the market for 7 days at £185k 👍
@@jackdavidsmith niceeee!! How long dud the refurb process last for?
@@namz2k11 10 weeks
@@jackdavidsmith thats nice man... that's a good return to make in 10 weeks.
can't believe you got rid of that fireplace
@Jack Smith How much did the kitchen / bathroom cost. It would be nice to know a price break down.
Hey Jack I got a question, Basically I’m a first time buyer and I wanted to know if I sell my house 2 years after living there do would I make any profit? Do I need to pay the mortgage interest repayment in full?
Its actually dependent on what mortgage you have, the mortgage itself will have an early repayment fee. I know it sounds a little stupid but you get penalised and have to pay extra for paying it off early.
If you think your going to sell your house quickly, you want a low year fixed rate, around 2 years, Where as if you think your goign to keep your house for a while five years upwards is the norm.
@@jksmanga23 ahhhh I see, thanks for the clarity. Yeah ideally I’d like to sell after meeting the required years so I can start investing and flipping and if I can get a good deal and do some market research I’m confident I can have a good 50-£ 60,000 when I do end up selling my first home.
Thanks for the reply I appreciate that👍🏽
How did you find the people to help with the work as I imagine it's a lot of different tradesmen, or do you have one person who organizes it all for you?
Essential to go with recommendations also look for previous experience 👌
How can I contact you to get deals.?
How much was it marketed for originally?
It was off market so was never advertised at a set price
Being cheeky but wondering how much each room was to do up?
We didn’t work it out on a room by room basis. It was just a job lot
how much did you sell it for in the end
£185k
Did the £95k purchase price include 3% stamp duty, legals, survey fees, financing costs, council tax and utilities?
No, all in stamp + legals + additional fees came to £101k
You don't pay council tax on purchasing a property, it a tax payable for occupying it. In many regions you don't have to pay for up to six months if a property is vacant and undergoing renovation. And what utilities would be payable? Only a negligible amount for the power and water used during the renovation.
@@spencerwilton5831 It varies dependent on your local council. The last couple of properties I've refurbed haven't had any council tax exemptions, despite the house being unoccupied during the renovations. Some councils offer exemptions for major structural renovations, but this is often only for 1 month and the renovations have to be extensive. Also, although relatively small, of course you need to factor in utility costs - you'll have standing charges and you and your contractors tend to need water and electric to do their jobs. It's good to be transparent and declare all outgoings when doing this kind of video.
do you do mentoring?
I offer coaching to people that have attended my Deal Selling Launch Pad. You can find out about that here: www.jack-smith.co.uk/dslp