Agreed! You hear a lot about "refinancing", but rarely do they ever discuss it in depth.

I would say thats the easiest part. You can call up any decent mortgage broker and ask for a day 1 remortgage. You can usually get an 80% mortgage right away and the rates are the same as any other straightforward mortgage.

@@whiteskull20 Damn, that's interesting! I wonder if that works where I live. :)

Are you buying on Buy 2 let's and interest only or paying cash, need more info on the exact numbers please.

That’s interesting to know indeed! I’ve got a video about true cost of finance when investing in properties! Enjoy 😊 kzfaq.info/love/mzrsLDw_0DOzNvAlkgz5AQ

Hi , I have a building company with all the contacts and best discounts. I could not do that refurbishment myself for £7000. When I say myself I literally mean doing all the work myself, no other labour. I call b.s on that one. If he had done he would have put the full breakdown on the video. I.e. kitchen purchase price including appliances and fitting. Bathroom suit cost, Tiling cost, painting, internal and external. Carpets etc.. That figure he gave is pie in the sky mate

@@davidwhitton5519 That's not the only fishy thing in this video. The place he shows at 0:33 on right move is number 79 Lowson Street (which sold for £72,000 on 28 Sep 2018), and then he goes ahead and buys number 73. If you look online, number 73 Lowson Street was sold in 27 Feb 2019 for £63,000, and then was sold again 12 Jun 2020, for £68,000, so if he refinanced the place for 85-90k, he made a significant loss on this property. In fact he didn't even make money on the refurb...This video hasn't aged well.

@@danielt3497 I think it's aged well... As well as milk in the summer 😂

@@davidwhitton5519 i think hes trying to motivate people🤷‍♂️

@@danielt3497 I suspect he sold it to a holding company of his for asset protection. As for renovation costs, 2019 pre covid prices i think its dooable. That green carpet tho, what a disgusting colour lol

Daniel Iles Stay away, This man should be in prison for misleading and robbing people’s money with empty promises. fat piece of shit. BBC running investigations after several people took own life’s due to being overwhelmed with debts. Fucking Tosser

Stop lying.

HAHAHAHAHA

I live in one bed apartment for 900! But I don't think will live somewhere like this place! Yes London is polluted and crowded but this is where the money are! Otherwise will spend happily a few months in the Mediterranean second house with a small boat:)))

Samuel: Reply this guys statement

He can pull out the 64K he put in, because he got a refinance acceptance which allows him to get a mortgage to buy the house in 20 to 25 years time typically, which if you do the numbers roughly at a interest rate of 2.5% and with 0 deposit (which he has said in other videos is the rate his mortgage broker gets him) would cost him £280 monthly repayment. £525 rent - £285 = +£245 passive income a month OR £2900 a year. Considering the property will, and already has from the refurb, appreiciate in market value over time (because that's the market trend in Darlington) its a "good example of how to keep busy" whilst getting RICH.

@@leonardohartanto8873 read my reply

Jack Hirst Sadly this is not the case. Property prices in Darlington (as with much of U.K.) have FALLEN since this property was purchased. Darlington is in the top 20 per cent of UKs most deprived areas (source gov stats). This is not and has never been an area of significant capital growth... similar houses were selling for £60k to £80k 15 years ago! It’s all online look for yourself! Zoopla and market stats broadly show the house has fallen in value by around 8 per cent or £5k within the last year. So it hasn’t even kept up with inflation so compounding the capital loss. A property like that is a btl with 80 per cent loan to value maximum so on £75k value £60k mortgage with a rate of 3.5 per cent and an arrangement fee of 2 per cent or £995. I go back to the salient points - he hasn’t added enough value, the market prices have subsequently fallen, it’s an area of social deprivation and the rental income after mortgage is £2k a year before maintenance. Deals like this simply do not make any money.

@@c11yan Point taken on the capital loss, Ive been looking into Darlington for the last few days and you make some good points. However, I think he would still breakeven and get a little extra if he sold the house. Also, he is earning a passive income and he refinanced the property so, he can invest again, so I do think he has made a good deal, regardless if he only breakevens on the capital appreciation of the house. Not a bad deal.

definitely interested in the refinancing side of things as well

Same here. Isn't their penalties? Or was it a top up loan from the new value added

@@markfitzy.86 purchased initially with his own cash then after refurbished and revaluation, freed up a large percentage of the equity with a mortgage.

@@bainsk8 yeah but doesn't that increase your monthly payments?

@@bigdeano162000 Cheers. I need to look into this more. I'm sitting on a decent bit of equity and doing nothing with it. Thanks for reminding me 👍🏼

I agree, I have a small portfolio but still think BRRR is achievable but at a minimum you would need ECIR (for peace of mind), Electrical Safety Cert (12 months), Gas Safety Cert (12) months and potentially a housing license - selective or otherwise depending on the area. I don't live up north but I have heard things are a lot cheaper - so wonder if £7000 as a total refurb is achievable. If it is then kudos! But then you have SDLC and legals...no?

Circuit 1 & 4 had visible scorch damage. 😂😂 And the ‘test’ for the boiler is flawed. Most boiler have pre-heat mode. Some can be perfectly fine but take 5mins to heat up if the pre-hear mode has been turned off to save gas.

Celiat Temitope Stay away, This man should be in prison for misleading and robbing people’s money with empty promises. fat piece of shit. BBC running investigations after several people took own life’s due to being overwhelmed with debts. Fucking Tosser

he is a con man

You can’t buy with a mortgage and refinance onto a larger mortgage this quickly. You need to buy with cash or use bridging finance.

dmc Agreed mate, got a bit confused but your spot on

@@adym7201 Yes, I think he was a cash buyer for the £64k and refurb cost. Thereafter he is now in a position to refinance, as he has the leverage. He now wants to gather all that he has invested through a buy-to-let mortgage in order to follow the same process. It's a safe strategy as the bank can just sell the house if he defaults on his mortgage payments or interest payments. In the meantime, he is acquiring around over £3,5k per annum after management and other fees and the house is hopefully increasing in value. I think the hard part is getting the initial outlay to make the first purchase, once the funds are in place, he can then continue to use this strategy and own multiple properties and then perhaps sell them off in 5 years time when the market is at its best, but in the meantime, if he has say 4 properties, has a passive income pre-tax of around £14k per annum, around £1,166 per month.

I think he works on numbers. If he loses big time he can at least do £10 work on it and sell it again for £10k more than he bought it

He asked the letting agent after the refurb simply for the purpose of explaining everything on video, I'm sure he would have assessed the area before making any investment

@@krazykanos98 "Be brutally honest with me" he said. Sounds like he was asking for the purpose of the video. He hadn't even viewed the property so what makes you think he'd viewed the area?

Darren Maguire For some reason I don’t like him.

Leo Mumford no. He gave. A rundown of property prices in that very street. He would have got what he paid if he was lucky

Blessing Marie me to !!

Ditto! Never heard of him before.

Stay away, This man should be in prison for misleading and robbing people’s money with empty promises. fat piece of shit. BBC running investigations after several people took own life’s due to being overwhelmed with debts. Fucking Tosser

Stop exaggerating. 1 guy committed suicide because he took loans he couldn't afford. You don't have to pay Samuel anything at all.

@@shaduwy show proof or evidence pls

Cheapest carpet he could find, was probably set out in the alley

I agree, why green carpets?! Grey carpets would be the same price and way less offensive!

I like it tbh

😆

I am House I just read carpet as Car Pet 😂

Are you?

Sahib Chawla as a matter of fact.. yes Pancho

Yeah same I’m only 16 and I’ve always loved learning different way/strategies to get into property investment problem is I live in NZ and I know nothing about the market or anything like that.😅😅

@@togiasam8522 won't be able to do anything like this in NZ lol

@daniel hayes whys thats?? lol

Cmon bro its easy to figure out, will take you five mins!! He's told you what hes paid, the refurb cost, rental figure and resale. Stamp duty and legals are piss easy and EA fees don't vary that much as the cost is mainly a percentage...

Agreed, actual hard facts would be useful. Sure you can work out what it could be, or might be... But what were the figures for sure. Was it a 75 or 80% LTV refinance? At 4 or 5% interest. What did refinance costs amount etc etc. Because if you’re looking to rise and repeat your funds on deals like this all the little financial details matter to keep hold of your initial funds. Beside detailing the hard numbers it’s a good video Sam, thanks for taking the time to walk us through it bud 🙌

​@@eztyson Where are you getting 4-5% interest rates from? My last purchase a year ago I got circa 2.7% within a Ltd company @ 75% LTV. My friends are getting even better deals @ 2.4% as mortgages with companies are becoming more popular due to tax reasons. If you've ever done a remortgage you will know the rough costs to refinance a property.

Most of that 7k was the kitchen and bathroom because the carpet looks cheap and tacky

According to the land reg the price was actually £72000 so if you add stamp and fees total cost was £76000. Add renovations brings it to £83000. Refinancing at new value of say £95000 , 75%LTV means he would get back £71250, so he has about £11000 invested. On to the renting. Monthly rent is £525. From that deduct agent fee £58, contingency £44, repair £30, loan interest £131 equals passive income per month of £263. Which is an annual return of 28% on sum invested. Not bad! And don't forget, he might be sitting on a nice capital gain in 10 years or so as well.

This was such a great video, thanks for sharing Sam. More like this would be much appreciated

Need one advice mate. On your video, how did you find the prices and the dates of the sold properties on the same street.

The whole process can be down in about 4-6 months from the point of making an offer on a property. It just depends how quick you push things through

@@SamuelLeeds sorry samuel i meant when you take out a mortgage, is there a minimum time you need the mortgage for before you can refinance it

Samual do you have an email address or a contact number?

oh man.. can i have contact details of your contractors? i spent more than this on my bathroom only and they done shitter job 😭

@@drasticg you would need to buy cash and put a mortgage after the works are done 💪🏻

I think he invested £64k of his own money and then paid £7k for the refurb. Total investment £71k

Thomas Spence thank you! Please share with your contacts :) see you soon

Hi Samuel can I ask why this property says on zooplankton it’s hasn’t been sold since 28th September 2018 😃

perth hill Stay away, This man should be in prison for misleading and robbing people’s money with empty promises. fat piece of shit. BBC running investigations after several people took own life’s due to being overwhelmed with debts. Fucking Tosser

waiting for this answer as well. how much actual profit each month

have you seen what they've done? it's hardly a bargain for that kind of refurb, probably got paid to take that carpet off someone's hands it's fucking awful and that kitchen is a cheap contractors kitchen.

Why? Haha

@@davidmcewan9255 all his stuff is fake. Classic tactics. Here's some info on Samuel Leeds: kzfaq.info/get/bejne/iamKfZSesryxqJ8.html&ab_channel=TomNash kzfaq.info/get/bejne/hLV3dNqo2MXJcYk.html&ab_channel=TomNash kzfaq.info/get/bejne/fbeZntqlkrXOcZc.html&ab_channel=ShafRasul And his rent-to-rent strategy: kzfaq.info/get/bejne/kN1jpMeQx9rZeYE.html&ab_channel=ShafRasul Just because you have a gold watch does not make you the sh*t lol. Not to mention all of these shocking reviews: nz.trustpilot.com/review/samuelleeds.com To quote the Redditor Tnpenguin717 when he commented on this issue, "You have idiots selling MLM/Pyramid Schemes to other idiots, claiming they are 'property experts', however they have never purchased a property in their life." Another Redditor, procedureszone102, said that "I've found that one person killed himself after getting into lots of debt thanks to Samuel Leeds." Here's another post about him: www.reddit.com/r/UKInvesting/comments/j6291v/warning_about_samuel_leeds_sorry_not_a_frequent/? When someone promises you financial freedom with minimal effort, they're lying. Hard work, dedication, focus, goals, and more things like that will get you places - NOT breaking the bank on some guy who acts 'all that' but lacks substance, action, and integrity.

7k for all that refurb including entire house renovation and new kitchen and bathroom seems low to me.

Yes or maybe Al murry pub land lord

yeah that board needs changing and a test for sure

Doesn't know much about anything with the look of it

or boilers lol

Defo doesn't make a massive amount.

Really lovely refurb. Perfect finish.

My application is for £90k, got the decision in principle but waiting on valuer to visit. Even if it’s downvalued a little I’ll still get money out as it’s an 80% LTV. Hope that helps. Will be sure to update down the line too!

@@SamuelLeeds if you do get that valuation looks like you will get your deposit and refurb fees out but not your purchase fees which could be around £5K including stamp, legals, valuation and mortgage/broker fees etc but still a good "little money left in deal"

Sim Sons soon so watch this space

Your dreaming if an actual random person wins it and not one of his friends

G S why?

G S I didn’t suggest or imply that it would be acceptable to leave an unsafe gas boiler in situ,, just because it wasn’t “bang up to date” !

If you buy a property from the agent then you give it to them to let and managed, the you go in next week to buy another property you're instantly at the top of the list when deals come in. You'll never have a passive income if you self manage.

Limited companies always higher I can get 2.99% all day off any btl provider

Are you going to the back room mortgage brokers in estate agents?

Yaw Aboagye yes you can

@@SamuelLeeds end 🇧🇪 ?