How To Get Started In Property Renovation | Home Renovation UK | BEGINNER TIPS
As you know I like to think that I provide valuable content to you all to help you move forward in life and to progress towards making a better life for yourself and your family – to fulfil your potential and to achieve your dreams – whether that be landing the perfect job for you, moving towards being financially free to enjoy your life, or simply to be able to enjoy your life more by being in circumstances that make you happy!
So, with that in mind, today I`d like to talk to you about a subject that I haven’t really talked about before, but is generally accepted as being one of the best areas to get into in order to become financially free – and that is property.
The Value of Property to Create Wealth
According to The Times Rich list 40% of people on that list created their wealth through property, and the remaining 60% invested in property as a means of growing and protecting the wealth that they previously created. It is common and proven knowledge that investing in property is by far the most risk-averse, hands off and financially rewarding option to create both an income stream and to achieve capital growth.
With that being said, how do you become involved in property when mortgage regulations these days are much tighter following the financial crash of 2007/8? Because you probably will need to borrow money to get started in property. But that is not necessarily a bad thing – in fact many successful property entrepreneurs explain that it is actually smart to use OPM (that’s other people’s money!), and also the great entrepreneur and American Business man Robert Kiyosaki said “there is good debt and bad debt”. Bad debt are things like credit cars and car payments which take money out of your pocket every month, whereas good debt puts money into your pocket every month. Good debt would be something like taking out an interest only buy to let mortgage on a property which you then let out and which brings in more money per month than you have to pay out for the mortgage.
And what’s even smarter is when you can buy a property that needs a certain amount of improvement or renovation works to be done – as the renovation of property is another area which can make money because the improved property is then generally worth a lot more then it was when you bought it, it can fetch a higher rent when you let it out, and it increases the value of the house usually far more than the cost of doing the improvement works in the first place!
Which brings me to the next benefit of owning property – which is that over the medium to long term the value of all property only goes one way – and that is up! (This is called capital appreciation). Yes there may be slight downturns along the way, but the fact is that the average UK property value has TREBLED since the turn of the millennium – that is in the last 20 years.
So how do you get started in property and property renovation? Generally at the moment you need to be able to put down 25% deposit on an interest only buy to let mortgage. So that would mean that if the property you wanted to buy to renovate and let out costs £300,000 then you would need to find £75,000 – a sizeable sum indeed. But what if that property costs say £25,000? Then your 25% deposit would only be £6,250 – a far more achievable sum.
I hear you say, but where do I find a property for £25,000? Well, all I can tell you is that they are out there! They may not be situated in say London, or Cambridge, but who really cares as long as there is a rental demand in that location? And there is pretty much rental demand in most locations in the UK at the moment. The fact that it is now harder for people to raise the deposit to buy their own property also contributes to this rental demand. Plus of course there is now, and has been for many years, a housing shortage in this country.
UK Property Renovation List
How do you find these properties that need renovation? We all know RightMove yeah? So you can go search on RightMove. Ah, but when you go to RightMove, the first thing you have to do is to type in the location you are interested in before you can search for properties in that area. So after you have done that and didn’t find any properties that require renovation what do you do – keep checking different locations until you find one? That is going to take you hours – days, weeks in fact! No-one has time for that.
Or you could be smart, and register to receive our UK Property Renovation Projects weekly list of renovation projects on the market now throughout the whole of the UK!
So how does that work? In a nutshell we have created bespoke software that searches the 3 largest property portals in the UK, namely RightMove, Zoopla and OnTheMarket.com to discover the latest bargain property renovation & modernisation projects (including below market value properties and properties up for auction), in all price ranges, that are new to the market or are still available. We then compile those renovation opportunities into a geographically arranged list and email it to our list of subscribers every week. Subscribers are then free to click through to each property to get further details of that property renovation project. We don’t sell these properties ourselves by the way – we simply search them out and create a weekly list. If anyone was interested in any property they would contact the estate agent dealing with the sale in the normal way (again, details of which estate agent is dealing with any property sale can be found from the list).
Also, the properties on that list range in price – the most recent list for example featured a property that needs some work available right now for £24K. And these properties are located all around the UK and the list is arranged in geographical areas so you can easily look for properties in your area, or in other areas you may be interested in.
And the best thing about doing it this way? Never mind the time-saving factor mentioned above, it also doesn’t cost you a penny. It is a completely free service.
As well as being sent the free weekly list of properties that need renovation, we also seek out the best of all other current investment opportunities that are out there. Now that’s great for someone like me who wants to hear about money making ideas and investments, and if you are the same then you are also interested in the various different ways to make money.
So this list is free to register to and it’s free to receive the weekly email list. And also you are not tied in at all – you can unsubscribe at any time – so what have you got to lose? The time to start to achieve your dreams is right now.
To subscribe to the list you fill out and submit the form here – https://renovationprojects.uk/