Legend, thanks for the amazing feedback 🤝🔥

Thanks 🙂 really glad you enjoyed it and thanks for watching!

Haha I hope that’s a compliment 😝😝

Cheers 🍻 glad it was useful !! Thanks for the ongoing support

Cheers my man! 👊

Thanks Erik! I often do the same in reverse, and watch US videos to see how you guys approach investing 😄

Thanks for watching Ben! Great to hear it and be sure to send me the links when you get started :)

100% accurate. A lot more cash intensive at the start

Thanks man!! 🙏

Cheers Callum 👊

Thanks 🔥

Cheers Dan

Pleasure 🤝

Thanks Abdul! Really appreciate you watching mate. I’m afraid I have to keep my D2V letter exclusive to my property x program members as it’s part of what’s included when they sign up. But I believe there are some ok letters on Google, which you can find and improve upon! Good luck 😃🙏

Hi Simon, Thanks for watching and yes I know investing in different areas can be difficult and daunting! I went direct to vendor on this property, and I found the property by driving round the streets in between viewings on one of my visits. It’s not efficient or time effective, but it can work as I’ve found it 😃

Thanks for watching and following 👊 It’s on my list 100%. I just bought another one but it gave us load of editing issues, so just in the process of swapping!

Cheers Joe 🤙

Cheers Lance! 100% man. I’m still new and just getting started, but each step, each property feels like a great achievement 🙏🔥

Thanks Dan! Glad it was interesting and thanks for watching !!

Everything you’ve said! This is my point of view - At the end of the day, if you live 5 minutes from the investment you buy… are you going to be doing work on it yourself? If that’s a no, then it doesn’t matter where you are located. Obviously, it’s a lot easier if you are able to nip round and let trades in - however this can be overcomed with trusted contacts.

Thanks watching Jo! And good feedback, the media guy I work with Tom has added in the music, it’s often used to give the video a certain tone or pace. For me it’s all about trial and error. Im always trying to improve quality and come up with new ideas. Some work and some don’t 🙂 but it’s good to know your feedback for future videos! Thanks

Yes, absolutely correct! The more the better, so that you can continue cycling money. Most BRR projects will cost at least a total of £30-£40k, as you’ll need to purchase and then refurbish. So if you can do that and only leave in £5-£10k after refinance - that’s a great place to be! 😃

Thanks for watching! Glad it was useful 👊 I would recommend networking within the area you are looking, go to property meet-ups or business meet ups. Build up your network and connections, then ask for recommendations within your new network. Alternatively you could just get quotes from builders on check a trade or social media - but you are taking more of a risk that route. Hope that helps 👍🏻

@@JustinWilkins thank you!

Great suggestion, and funnily enough ive started to put together some content for this as it’s been almost 2 years since I bought it! I will definitely get this video made and shared in the upcoming week- month latest. 🙏

@@JustinWilkins looking forward to it!

Thanks for the comment, useful for people to see what you’ve found out. Usually if using a normal mortgage, they probably have a timescale in which they want the house ready to rent. If doing a large refurb, or lots of projects every year then it can be best to work with bridging finance or purchase the property cash 🙂

Haha 😂👌 classic

Mortgage payments will be low as it will likely be an interest only and the rent from the tenant will more than cover this. When doing due diligence and assessing how viable a deal is, the mortgage payments will be taken into consideration. 👌🏼

@@thepropertynoobs9089 What happens when you're on interest only payments and you eventually reach the time where you need to produce the cash to settle the original full mortgage amount?

@@Cronus111 you have a few options. One is to sell the property which should have gone up in value due to capital appreciation (by how much is dependent on a few factors). This will more than cover the mortgage debt plus should net you quite a healthy return. Another option is to refinance the property taking out another mortgage. My understanding is that when a property investor comes to the end of their journey so to speak, they will sell off a portion of their portfolio and pay off the remaining mortgages leaving them with a number of mortgage free houses bringing in income for the rest of the investors life.

I was looking for a comment making this point

Bodybuilding brand

Thanks mate! Appreciate your support brother. Yes it’s called Hera London. They do oversized style tshirts 🤙 (brand is nothing to do with me - just don’t mind their Tshirts and hoodies haha)

@@JustinWilkins Are you getting ripped you will have to be showing the guns in future videos.

😂😂 I am absolutely not getting ripped, or doing that hahaha

Quote was labour and materials 👍

Yes absolutely, in fact I used one on this deal 🙂 with regards to the ‘cash flow suffers’ comment. This means that there is a short period of time usually 3-6 months where you can earn money from the property because you are refurbing it, so then you are paying for your mortgage cost, or bridging cost… whilst not having any incoming rent.

That’s what I did 🙂 except, I just did 1 BTL as I had my bungalow refurb going on aswell. Not sure the stress of 3 refurbs would be good for me 😅

Correct, hit the nail on the head. Positive is releasing capital to purchase more, negative is that cashflow decreases.

Hi Stuart, feel free to email me at team@propertyx.store and il intro you to my broker 🙂

This one is £308 profit per month 🙂

You have to pay it from day 1 - bummer 🤨

I’m pretty sure this differs based on the actual council. They often have a vacant property “rate” or grace period; especially if the house is uninhabitable (no functional kitchen or bathroom) 👍🏼

When I bought my first house I got a reduced rate, however I'm not sure how it works when it goes through a LTD company or if it even makes a difference. Thanks for your replies 🙂

@@Holdeenio Yes, some councils do give a reduction, you have to apply and it's at their discretion. My present council (Durham) gives abso no redutions at all 😠 Of course, once a tenant takes occupation they pay.

@@Holdeenio The vacant property rate/grace period tends to only apply when the property is in a serious state of structural disrepair. We're talking major subsidence, missing roofs etc, not just a missing/non-functional kitchen or bathroom.

Correct, once original debt is repaid, then any remaining balance is paid into your bank account.

@@JustinWilkins so why would you sell it instead of just refinancing and renting out? Seems like if you refinance you get the profit from the value increase and the rent too? Am I missing something here

thanks for watching. I will do a full numbers breakdown soon, but pp £50k, refurb £17k and est GDV is £80k :)

Nice one mate. Keep up the good work 👌🏼

Thanks man! Let me know if I can ever help 🤙

I go up to the area regularly and in between viewings I drive all the roads seeking for empty houses 😃

@@JustinWilkins ahh makes sense. Thank you.

What makes you think he'll just give that to you?! Write one yourself and then see how you feel about giving it out to others

Cheers Nick 🍻

Hi June- I usually work with either a group of individual trades, although the organisation of that can be difficult and it only takes one trade to be off on their timing and it can upset everyone else. OR I use a full build team, I did this on my most recent refurb and my btl was transformed it just a matter of weeks!

Hi Wesley, cheers for watching man. So best to speak with a good mortgage broker (sorry generic boring response lol!) but a good broker will find you a mortgage lender with a low or no ERC (early repayment charge). You just need to explain your goals, and plans for the mortgage / bridging and they’ll try to suit you with the best product!

Hello Justin, thanks for the prompt response dude, I’ll mention it to my broker next time we chat 🤙🏼

@@wesleybrett9711 I opted for a tracker mortgage as rates aren't going to rise anytime soon.

@@wesleybrett9711 If the exsit free is 2k, and the profit is 30k, then is worth paying in my opinion

@@rmendola759 I typically get a 2 year 90/95% LTV, reno while living on site in 3-6 months. Enjoy the fruits and save more capital for 18 months, then refinance to BTL, and repeat. I just don’t like the idea of giving the bank more money which could be used on the next deposit (or a nice holiday ☺️)

When you refinance, you are basically taking out a new loan of a higher amount. The interest rate and term (on interest-only payments) will entirely depend on the product and your circumstances, borrowing more doesn’t necessarily mean a higher rate of interest will be charged

@@Holdeenio thank you very much

Secret 😉 Not really but she’s on maternity leave, so no use right now haha

@@JustinWilkins 😅 Fair

Correct 😃👍🏻

If only! Not even close sadly. Same house would have costed £175,000+ for pretty much 2 hour radius around where I live!

She’s on maternity leave atm 😢😢

Haha well if thats all you hate about watching my videos, then I am happy! The click is a trade mark, so you won't see it going anytime soon

😂😂 have done now, check recent videos

Will do in a future video