How to calculate equity in your property

Рет қаралды 7,625

2 жыл бұрын

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Пікірлер: 25

@Harjit_K 3 ай бұрын

Thankyou for the great content!

@JustinWilkins 3 ай бұрын

Thanks! Glad you enjoyed it

@jackdavidsmith 2 жыл бұрын

I wouldnt even bother painting over that… Great video as always mate 🙏

@JustinWilkins 2 жыл бұрын

😂 what a feature wall that would be!

@mothballjim 2 жыл бұрын

Great video matey

@JustinWilkins 2 жыл бұрын

Cheers mate 😃🍻

@getthoseskills4451 2 жыл бұрын

Such a great video

@JustinWilkins 2 жыл бұрын

🙏 pleased you liked it!!

@propertyhero5895 2 жыл бұрын

More than I expected, kerching $

@JustinWilkins 2 жыл бұрын

💰💰

@samb8567 Жыл бұрын

Hi how do you find a good builder to do work on your refurbs

@samcolcombe8516 2 жыл бұрын

Amazing video thank you for sharing me and my partner are in this exact position we want to pull equity from our home to invest in property I live in the South Wales valleys so property is much lower entry point that other areas I have done a flip before and would want to use the BRRR strategy I am due to qualify as an electrician within 3 months and want to start building a portfolio We purchased our home less that 2 years ago for 100k 10% deposit and completely gutted it a neighbours house a few doors up went for £180k! Same terrace house type Would to recommend us selling our current home or keeping it pulling equity out and investing it to start out BRRR journey? Thank you again for the amazing content I always look forward to your videos

@JustinWilkins 2 жыл бұрын

Great work so far Sam! Hard to give exact advice on this because it comes down to your own living preferences. If you decide to stay where you are, refinance and use the funds to purchase an additional property then you’ll pay the higher stamp rate and need to think about whether to invest in a Ltd company or not. Where as the other option, or making your current home into a buy-to-let and using the released finances to purchase another home could save you on stamp duty, but won’t be the most ideal buy-to-let as it’ll be in your personal name, and you might have been planning to run things as a Ltd company! Sorry that doesn’t help a huge amount! 😂 an alternative could be to sell, take your profits and purchase another home to add value too, and a BRR project - that’s possibly what I’d consider doing!

@samcolcombe8516 2 жыл бұрын

Thank you for the reply I really appreciate it my plan is to build a portfolio of BRRR over several years to build enough passive income to be financially free I would like to do it by setting up a ltd company

@_-lover-_736 2 ай бұрын

Is my monthly mortgage that I am paying going to change?

@JustinWilkins 2 ай бұрын

Yes, it will increase if you increase your loan to value and withdraw equity

@MrPws1968 2 жыл бұрын

Hi Justin, bit of advice please, If you have 80K would you buy a house outright for 60K spend 20 on refurb, then refinance ? of would you just put down 25% deposit and do finance from start ? Any advice very welcome Kind regards Paul

@JustinWilkins 2 жыл бұрын

Good question Paul, I’d probably buy cash for speed and ease when purchasing. Then when you refinance you can go again. The down side to that method is lack of speed, that whole process will still probably take 7-10 months at the moment. If you wanted to acquire more than that in a year, then it might be worth putting down deposits on a few projects 🤝

@coffeejazzvibes2194 2 жыл бұрын

Do you inculd auction fees in the purchase price?

@JustinWilkins 2 жыл бұрын

If I was buying at auction then I would. Along with stamp duty, solicitors, etc. But in this example I didn’t as i was just keeping the example basic and relevant to as many people as possible!

@sahinahmod6961 2 ай бұрын

Do you not have to be 55 Plus to release equity?

@JustinWilkins 2 ай бұрын

No, anyone can release equity from their home by changing mortgage product or taking a further advance or second charge. Equity release you do which is a product for releasing money for over 55s that are coming to the end of their earning careers.

@Environomics. 11 күн бұрын

You lost me at 5:34. What do you mean by "remortgage"? What does that mean? Does it mean restructuring the loan on the current property? Or getting a new loan on another property using the equity of 128,000 (I like to call this GROSS equity because you dont include stamp duty and agency fees, or enhancements etc)