Visiting BRR Property Refurbs in South Wales

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Is this the best place to do buy refurbish refinance today I’m viewing two properties in this area to see why this is the hot spot for property Investors and the two properties I’m here to see are Matt’s properties Matt welcome to the channel thank you for coming and being here and I’ve also brought along Dan Dan is on uh my property X Program he is also looking to invest in this area so today he’s

Joining us to have a look around these houses Ed up up Euro EUR up up I’m me everything is on me picked up the keys start of August so it has been a few delays so we’re 6 weeks in now normally we would expect it to be

In plased all by now but um few delays build like Co also some of the walls are worse condition than we initially for so we have to hack them off do some damp treatment which we’ll see around a part of the property is that what that is as

We come in the hallway so you’ve had to literally take all that back hack it off do the chemical treatment and then also put some sand cement down there as well right and then we start boarding up like you can see around here and then and is

That CU it doesn’t have a d course at all yes there was we know there was literally literally that a potential for it to obviously get worse again in the long term and so we just wanted to do the whole thing properly that cost us

A600 as well um but obviously no not too bad and obviously when we go around all the costs Still Still Stacks yeah when you start with a six I think you say six grand or thankfully not thankfully not no yeah but I’ve always wondered that about like whales properties cuz um

Having followed a few other people that invest here like you see everyone going back to Brick and I’m like is that because there’s a lot of damp issues or you know what is it yeah I mean this is so this is only my second property in

Sou house that I’ve worked on yes um and a lot of them are mining houses um so you know very old school some haven’t been looked after properly um but generally a lot of do any D works and correction so yeah it’s not too but not

Nothing too major so so far touch word it’s been um it’s been all right sure everyone’s dying to know the numbers purchase price 61 a half decent what was it listed for this was on I think it was on for 67 A2 so we’re taking a little bit

Of a chunk out cuz it’s obviously priced at the bottom of the market you know that is what about 5 6 7% off so no that’s good I think um but it’s not unrealistic for someone to see you know to see something at 67 and get it for 61

Ex sort of got one living room here yeah or SL maybe a dining room and then a second living room/ dining room here or we did think about just making this one big room but in the end we decided we spoke to the estate agent and there were

Like a lot of people who rent here do like having two sort of separate rooms okay so we kept it like that so yeah through here we have the bathroom probably my least favorite part of the house obviously you want to add valy but it’s a bit hidden um and we didn’t think

About moving it upstairs but just for cost we decided to keep it downstairs so you go in all the PIP works all there and everything is it um yes so we’ve had a bit of first fix plumbing done you can see this is the first house where I’m

Not going to put a bath in you can see when when the caraman goes in you can see where the where the bath did used to be that’s a small bar it is a small bar so uh it’s just going to be a walk-in shower make it nice walk-in shower

You knowly toilet sink leave there that’s all right though isn’t it I think that’s good exact it’s a good use of space exactly what else could it be really exactly and and the good thing is the general expectation for southwes properties is um bathrooms can be downstairs without having one upstairs

So that’s fine and it won’t affect the value too much majority of my houses up north are downstairs and Depends you ask I would obviously prefer one upstairs most people I talk to prefer upstairs but I’ve had that conversation with tenants in the north when I’ve been up

There and stuff they’re like oh no I love it you know have my friends around they can just walk in and out and I don’t have to worry about Tiding my rooms off and I literally had never thought about it like that like exactly I mean if that’s their preference then

It suit to me go from there I don’t find it affects the value no no exactly and um you know whilst you could have added the second one it would have cost a lot more and probably not got that uplifting value as well this is a three bed so when we go

Up there you’ll see three decent s I think for here anyway refurb obviously there’s a lot going on you’ve taken it back to brck you mentioned you’re doing all the damp work you’re extending into the kitchen well s extending the kitchen into the out building what’s the refurb

Going to come in at okay so initial quote was 34,000 we have had a couple of variations so like I mentioned the hacking off the walls bit of extra damp treatment uh and also leveling off some of the flooring and ceiling so uh in total that’s come at just under 355,000

Okay good okay I mean I still I think that’s still good value for money considering the amount that’s going into it so do you know roughly how much all in with like fees stamp ju um so what’s that so I think it’s roughly 100 Grand so that’s including the yeah like you

Said the land land tax and also the building survey as well that’s quite important to get those houses so we’re roughly looking at just over 100 Grand I think including with the variations the main talking point on this property was this wall right here as you can see

There’s like a this is where the kitchen was and it’s a bit small so the idea was that if we took this out and we’d be able to have like an L-shaped kitchen along here it wasn’t that easy cuz what we need is an rsj um and that and that

Was we’re a bit nervous about that cuz we weren’t sure how much it would cost obviously this is a Terrace building we had heavy brick walls on the upstairs as well so that would have been needed the support if it was a flip 100% would have

Done it for the better like finish yes for a better finish bigger kitchen um but for a rental we decided just to cut the cost probably saved us between the Realms of 3 to 4 and a half Grand I reckon with an R sometimes it’s less but

We just there there were some variables we didn’t know about so we decided let’s just keep it simple also would have taken like another month as well so let’s just do it that is like a thick that is a thick W oh yeah yeah yeah you can St awayo yeah supporting the whole

House yeah um is a bit of a almost a gamble with something of this age do do you unearth more issues by doing that exactly exactly yeah and we were just thinking for rental but we we have come up with like a creative solution to get

Around this so when we go into here this is the kitchen and it is quite small right now on its own yeah we are going to change this up obviously make it a bit more nice and have a lot of natural light coming in this will be chipped up

A bit taking the bricks off again make it a bit more open yeah but the main change here is okay so what we’re going to do the build is done is we’re going to literally change this whole shed here so right now it looks a compl complet

Dump which it is M um but we’re going to make a corridor between here and into here this roof will be cleared out and raised um and then we’ll literally make like a storage unit in here so we’ll probably have the washing machine I think we had the washing machine going

Out to double check that cuz obviously you need the pipe work but at least the electric so probably big fridge freezer kind of thing so that someone can come in here get all that stuff maybe have a pantry and then use the kitchen units oven in units then is it access to the

Garden there’ll be a door to oh yeah great point so we’ll have the door literally right here um we did change some ideas perhaps making this window smaller um and connecting it there but in the end it was easier just to put a door right here Corridor here and then

Just completely changed this roof on the shed cuz that was the most cost effective end value so we had EST State Agents come around um we’re looking at top end probably 130 if we’re not so lucky maybe 120 uh obviously this is changing Market yeah SE right now but

What we found is that the properties at the lower end of the market this is like Nationwide by the way are a bit more resilient than some of the more expensive houses I mean as you know because um you know folks that wanted a 200 grand house they’re now applying for

A mortgage and it’s now a lot more expensive so they’re being forced to go down basically so there’s more people going for the lower end houses because those that were going for the cheaper houses are still going for those houses so more demand obviously and then the

Other reason as well is because the rental Mar market so insane a lot of firsttime buyers are getting really fed up of paying the high rentals and it’s actually almost cheaper for them to get these more expensive mortgages and get on the market if they can get the

Deposit of course than it is to keep on renting so that’s those two reasons um are why southwes properties I believe are staying quite resilient and we’re quite confident we’re going to hit this 130 basically we didn’t anticipate having to redo all of this wall um we

Wanted just to just Bor it from the start but we had to re hack it all off and then put sand cement on there and then go from there basically and why why is the sand cement why are you adding that just so anyone um it’s part of the

Damp treatment course basically uh if I’m honest I don’t know too much myself I just follow the bullet points in the report but uh it’s what they do afterwards just to seal it up I guess uh maybe I I do back no no it’s interesting cuz it’s like uh T typically like north

Of Yorkshire so have a damp through course or it’s like tanking yes tanking yeah um which is quite common but you know and when the damp roof course is often fails they’re not that great you know so um but anything like underground is always going to be tanking but yeah

To see it all the way up here it’s quite amazing it is yeah and like you said has you J my memory there has been tanking on all of this bit down here where uh up to so underneath that yes that’s all been tanked yeah yeah yeah that’s part

Of the treatment that should see you through for like many like decades oh I hope so yeah so so the room sizes are exactly the same but we’ve done a few changes first thing the door was here now we’ve moved it to here okay just better isn’t it exactly this was

Actually a one of those storage closets right here yeah take it out a bit more space we did try looking at maybe incorporating it as part of the room Sly not to in the end cuz there still a all right size it’s size plastered one wall G one wall already um that’s

You know they’ve just started they’re in now doing that and this another week and this will all be sorted windows are okay double glazed bit old fashioned will change the chis Quest pattern but apart from that another question for you yeah and partly for the the video is like um

Why did you choose or why did the builders Choose You know to do to board it out rather than like Bond and plaster was it cu the walls are completely yeah partly that partly partly because of the walls U and that was what a lot of the

Houses around here used to that kind of treatment and um you I think it’s quicker as well whil the builders will obviously give me a choice they’re used to working this way and I just let them take that initiative and run with it and yeah we’ll talk about the Builder cuz

Yeah yeah I’d really like to definitely one of the main reasons for the success of previous project and uh hopefully this one as well so 130 end value is really good and what I always say you know when you’re doing BR the bigger the gap between the money you’re spending

All the money going in versus what the end value is the better isn’t it so you should I mean I don’t know I’m guessing here will that be like 10,000 left in or less than that so if it’s 100 Grand or just over let’s just say 100

Grand to keep it simple um and it gets valued at 130 um don’t know what that was a chcken so if the property gets valued at 130 and we spent 100 Grand just to keep it simple yeah we pull out a 75% load to Value mortgage that would mean the bank

Lender gives us 97 and a half which affect l means the property um will be 2 and half Grand if it gets valued at 120 it’s still not a disaster it’s still a good deal in my eyes that means we would take out um 75% which is 90k and again

That’s 10 grand left in still think that’s a good deal yeah in terms of rental I talk rental we’ve been told between 750 775 the Market’s just been crazy that’s not really news and then to borrow that much right now probably cost you in the Realms of 450 that’s today’s

Market price so 450 is your monthly interest only mortgage 775 is hopefully your rent just around 300 325 maybe so yeah you can tell for this one as well we’re almost finished skimming yeah um you can still it’s still drying but uh yeah another decent size yeah it’s about

The same size as the one next door so generally these are decent size rooms for houses around here as you’ll see for the next project we go to we got some small rooms in there you have any like rules like the amount of sockets amount of light um generally you would do about

Yeah two three sockets per room um I would just keep it lights in here and then spotlights in the kitchen unless there’s natural lighting that there is down there yeah and spotlights in the living room as well that’s generally the rule um spotlights look good yeah exactly worth worth doing um I learned

The sockets the hard way yeah I did like a not like a full refer like this but a fairly sizable refer didn’t add extra sockets into the bedroom and that was one of the like there just amateur mistake right one of the first ones so

Then had to add them in after cuz the tenant was like there only one double there only one yeah so just really wasn’t thinking was like trying to get the project moving quickly so you only you know I mean you only do those sort of on exactly and it’s such an easy one

To when you’re doing first fix it’s so EAS just have Chuck a hole in there and a bit of first fix electrics and you’re done really so yeah one there don’t know where the bed will go yet that’s to the tenant probably that way the windows are

Quite like big but low aren’t they yes that’s another you know Common part of it it’s a bit weird um if it was being built today that obviously be a bit higher but yeah yeah at least there’s a lot of light and um yeah don’t have to

Do any maintenance to it so that’s good leave it as it is yeah uh last thing to mention is this is actually a JV project yep so uh I actually met uh so I went to electrician School uh doing my level one and I met a guy there and um we we got

Talking and he was literally more interested in doing property than um Electric and so we spent the rest of the course just talking about that so we went in 50/50 this was great because this was happening about 4 months ago when there was 3 months ago when there

Was a lot of noise in the media about property prices so we wanted to do this just cuz it basically literally hars your risk cuz we’re going half and half in so we knew that if things weren’t really bad then say you got valued at

110 and we were only able to pull out um 85 82 and a half whatever then that’s only half left in each so it would be effectively n Grand I’m doing figes top of my head here so excuse me there’s anyone watching at home with a calculator then sorry then obviously

Your your risk is literally halfed so we were quite happy with that this was his first property obviously I’ve got some experience so we were happy to work together I like to JV because it means you can scale quicker of course you’re getting half the return but you’re

Getting another property under your belt that’s going to appreciate and value and I think um for half the risk to get another one under the belt half you know you can also share some of the workload in terms of doing visits together it’s totally worth it it’s the enjoy yeah

Sometimes it’s actually the element of camaraderie and enjoyment that you can do it with someone it’s not such a lonely Journey ex obviously downsides and you’ve got to be careful who you invest with and and kind of you know make sure you like them because you’re going to be kind of joining a

Relationship with them for the next yeah exactly 20 years I also think there is that enjoyment Factor otherwise you come and you do it on your own you’re like who do I share it with and exactly yeah mean I’m lucky um you might watch this so Danny thank you I love working with

You um but he’s been great to work with um we’ve had no quants as of yet he’s generally been quite because of my experience he’s just let me kind of lead the way and obviously he puts in his two cents and uh yeah in this has been a

Great GV experience and I think a lot of people should really consider them just to get into the market third bed yep third bedroom again halfway through skimming you get a good look at the Garden in a second as well boiler looks a bit rough it’s not too bad that

Already here yes this was already here who owned it before um this was literally someone that lived there all their whole life probate property next door done a good job with the garden yeah we’ve got some inspiration for next door yeah yeah but it’s really strange

How CU obviously it comes up quite High quite quickly like we could actually walk out there and walk on that but um that will be part of the new kitchen cuz I still can’t really picture what the garden looks like when this is all cleared out cuz it’s so so difficult

Yeah um but some people when are doing a b r or any Flip or renovation like to do the full Garden for my rentals now I tend to not spend too much money on them CU a lot a lot of the time I find tenants don’t care or if they do

Care they’re like the project themselves so I just give them a blank canvas I imagine that’s majority concrete underneath yeah literally concrete and leave it exactly after itself after it’s been clear exactly and they can do what they want if they stay here for a long

Term they can do whatever I um you know whatever they want and um go from there and obviously the first major rehaul is doing this whole kitchen bit here and uh and obviously replacing the glass here but the roof’s pretty decent Nick as well looking good how how many weeks you

Reckon vilda says eight I’ve personally reckon maybe 8 to 10 just because of the slight delays we’ve had yeah yeah if it we didn’t have that the kitchen bit there I think you would easily do eight but I think that’s going to take a little bit of extra work I mean to be

Honestly once they finish skimming and Plastering um suddenly come together would it comes quite to quite quickly as you know and then you got second fix you know painting carpentry Etc um and then yeah hon because of the Builder they’re so good um very quick and they’re hungry

They’re hungry for as much work as possible and they understand that if they finish one property quickly we get another one yeah so um I’m all too happy to that’s a great relationship to build with a build so yeah exactly one more thing I want to mention as well another

Reason we went for these cheaper houses is um we could afford to do this without a bridging loan and that’s that’s obviously a bit of a luxury not everyone can afford to do that but obviously with these tighter um margins with materials going up labor going up prices

Potentially coming down yes not having that bridging loan which would have cost anywhere between 3 to six grand was a really nice point to make sure to get exactly to get our margins in cuz otherwise that’s just pure money left in additional money left in so if you’re

Going to do this you get the 13 30 maybe you only leave 2 and a half Grand in that would have quickly become 8 and a half Grand you know 7 and half Grand if you had a bridging cost on top exactly yeah we just wanted to fill out the

Market yeah over these uncertain times um and you know as of right now there has obviously been a decrease but it’s been fairly there’s been no crash yet um and uh yeah we’ll see how that goes basically good well thanks for sharing it yeah my pleasure on to the

Next one on to the next One so yeah just entering the second house and with this property it’s finished ready to go am I right in thinking you’ve already let this one but obviously they’ve not moved in yet we agreed uh tency last week and it’s just reference checks and also I’ve got do my

Landlord exam which is something you have to do in Wales let’s talk about that quickly I here so if you are a landlord in Wales and you self-manage yeah got to do an exam yes it sounds really uh like difficult but it’s actually just going for all the basic

Legislation and you know rules you have to be aware of that you should really be aware of anywhere in the UK but it’s just here theyve forly ask you to show your understanding of that and then you take a quick multiple choice exam is it quick um well yeah about about two to

Three hours they say um with a TV on in the background yeah but if you’re if you have a letting agent you don’t have to from what I understand yes that’s what the leting agent told me cool okay yeah Dan and I were of well you mentioned it and I was

Like well I know there’s something but I couldn’t remember what it was so yeah and no nasty surprises in the legislation you didn’t know about no some interesting things though like just to refresh my memory obviously uh I’m not new to this but I’ve been doing this

For a couple of years so obviously still learning new things and from being honest I think they really should bring it into the rest of the UK cuz you know there are really [Laughter] no but no um would you just yeah give us the tour talk us around what’s been done in each

Room great so for the downstairs the layout pretty identical um what we have done is we’ve taken out the fireplaces there was one here and one there and um again just makes it slightly larger room uh you could easily have your sort of dining room/ TV maybe there or there

Depends how you you do it nice white doors I love these doors we saying they look really nice good coming through we have the kitchen uh spotlights always a always a go-to You’ done a great job here yeah I mean you probably recognize it’s standard Howen kitchen but they all

Look great they’re not too expensive I think this one cost 3600 okay um including what everything yes everything yeah vinyl flooring again Howen just looks nice and it’s pretty durable I was going to ask you about appliances because everyone always asks me about appliances what do I put in

What don’t I what do you like to put in in terms of white goods or Okay so what your it is a case by case because the rental demand is so strong here MH generally they say you don’t need to provide white goods so you don’t need to

Provide your washing machine or your fridge freezer whatever also some people might prefer to have like a like a dishwasher as well so we just give them that choice uh and then of course the benefits as you know is you don’t have to maintain you’re not responsible for

It they can bring their own in and generally it’s nice for them to bring in these significant appliances and connect them because they’re more likely to stay for the longer term hang on yeah that’s exactly I guess the same thing I do for same reasons as well so

Yeah it’s always say that I guess like a new investor will ask cuz they I think it’s just perception that maybe they’ve got provide fridge freezer washing machine dishwasher actually really it’s just hob cooker extractor exactly yeah sometimes there’s a gray area whereas is it furnished or unfurnished if there’s a

Washing machine fridge bit of a bird area I have properties which I have provided the fridge freezer and um washing machine other times I haven’t it’s it’s a case by case and your local estate agent will help provide you with that something that has to be mentioned

Obviously um is the view yeah and I mean I know obviously they say what is it they say um facts not feelings is it all you know so you meant to you know lead by the figures of the house and not emotions but like I mean that definitely

Makes it a change to walking around Liverpool for me so yeah 100% it’s I mean yeah the values are beautiful um obviously this is where we are now this is a a mining mining town but since then it’s really developed into a more you know familyfriendly and these views to

Speak for themselves really many of the roads have like views like that yeah yeah cuz it’s so hilly parking your car here is a nightmare um but one benefit of the hill is obviously you get such a nice view and uh yeah 100% this is why

It you know went off the market so quickly this was on the market for 3 days and then tency agreed that’s good it and just like good working professional tenant young couple um yeah they both work in Social care which is great cuz I know that they need to be

Around Tony Pandy to uh to you know for their job so I know that they’re here and also it’s a very secure and it’s a very uh you know respect to them for that kind of job and they’re going to be here for the long term good in terms of

Numbers um if we could rattle through those what did you pay for it 60 grand grand 60 yeah so this obviously Danny C was 61 and a half this one is 60 yeah the reefer came at slightly more because of the windows yes uh and also a

Bit of The Damp treatment Etc so in total the referb was £36,000 okay yeah um so 96 and then including uh the land tax and legal fees and the building survey literally came to again 100 Grand all in so you bought it cash uh yeah bought it again in cash for for the

Funds I used from another refinance from Blackpool yeah and uh yeah again I didn’t want to take on a bridging loan because again because of the higher interest rat because this I picked this up in May where there was a bit of noise in the media about property so I was like let’s

Just do lower end house without a bridging loan and I think you know I’m happy with that risk Basically okay so one of the major parts of this refurb where we’re going to add value is by making this uh from a twoed which it was into a three bed and we had to get quite creative about how we did that because it wasn’t the biggest room

In the first place so trying to explain the layout basically this was one large double bedroom okay and the doorway was here and the banisters came to about here so so this part here was actually there back there exactly so credit this is I can’t take credit for this one this

Is the Builder literally was like look what I’ll do is I’ll build an extension to The Landing add it on it looks seamless you can’t even notice no no no I wouldn’t have noticed exactly said and that gave us the ability to have like one entrance here and then a second

Entrance for this bedroom down there that’s and um I’m not going to try and convince you this is a large bedroom it’s not this is really a bedroom for maybe a small young child a cot or perhaps more realistically um a small office y or even a dressing room there’s so many

Ways you can use it so um I think it’s quite desirable though like two good bedrooms with a study or two good bedrooms with a you know baby room that’s good exactly exactly and the two to the three bed in uh in this area I think adds about £10,000 in value and on

The rent was sad the rent maybe another 75200 to the rent or that’s on the top of my head yeah yeah but I think that’s a pretty much an accurate uh guess we literally stripped upstairs down to its bones down to the walls um and that gave

The Builder a fresh canvas to build everything from scratch the bathroom was a lot larger it had a wall walk-in shower right here so what we did is we brought this wall into here to give it a larger bedroom and then we didn’t need a walk-in shower because we’ve already got

A bath in there and as you’ll see it’s a nice size bathroom plent yeah it’s still still really good size isn’t it even with what you’ve done so it must have been enormous before yeah there’s a two beds but just huge and he just didn’t

Need to walk-in shower well if we have a look in here quick I know that all three bedrooms are fairly similar with what you’ve done but I think it’s just nice to show kind of condition that you’ve got it to which is exactly really nice and fresh and it’s a slightly odd shape

I’m not sure if the camera shows this but you can pretty much fit a 3/4 here yeah so just slightly bigger than a single but not quite a double I’d say maybe had a push I don’t know um but similar style window to the one in Danny

Cig uh which reminds me yeah they’re so low aren’t they yeah so so different to what we used to EXA quite like it yeah I mean I not sure how much privacy you have but um not my problem um but that reminds me the one of the major expenses

On this I know we’ll go into this in detail is the windows so I reom we spent just shy five grand on Windows for the entire property just to bring them up to double glazed oh yeah benefit of that is obviously I intend to keep this uh for

Most of my days hope I’ve got a bit long longer left and uh new windows means it’s going to be good for at least 20 years plus little things you don’t have to replace everything this radiator was fine we just cleaned it up a bit it

Works as long as the boiler Works which is like the heart of the you know of the house and it’s pumping everything through then don’t need to replace everything and it looks fine so that’s come from somewhere else been repositioned here yes so this property

But um I think it was around here or there can’t quite remember obviously this wall was yeah stud wall which we built in to create the second bedroom yep good so you’re in it for about hundreds yeah we know the refin come back on this one yeah um Talk us through

That yeah so obviously we got it valued we had um one of the lenders values came out lovely lady showed around got got chatting and I said to her bluntly can I hit 130 on this and she was looking at the comparables on her tablet she was

Like yeah that should be fine that should be fine so I thinking 130 brilliant that’s like um that would have literally meant I had two and a half Grand on left in on this deal when the Val valuation happened a week later I still hadn’t had the mortgage deed I was

Like that’s a bit weird and then unfortunately the lender had her second look at it and they were like M don’t think we can give 130 so we’re going to offer you 120 still decent like I’m still really happy with it cuz that means on a 75% loan to value mortgage

It’s 90 grand out 100 Grand spent so that’s 10 grand left in yeah still really decent people be really happy with that and I think you should be and the worst case scenario if you’re not getting 130s you just tied up your money for a bit longer like you lost money

You’ve just tied out for longer yeah and if anything dep positive probably means your mortgage payments come down so your profit it’s gone up per month yeah so yeah that’s the Silver Lining cash flow is slightly better um so the mortgage on this is again similar to Danny Craig I

Think it’s about 420 425 and this has already been let out 750 a month tenants Moving 2 weeks so again that’s what about 3300 uh per month which I’m really happy with currently going to manage this myself because it’s a new build you shouldn’t have many major issues um but

Uh again if I do then my build is really good you can easily sort it out and yeah so obviously slightly disappointed to get 120 instead of 130 but I think overall it’s still really good benefits like you said is smaller mortgage and also a smaller mortgage fee so without

Getting into a nitty-gritty obviously lenders love to slap on a nice 2 3% Arrangement fee that’s now less uh I got on 5ye again that was just looking at the current market I wanted 5 years for the property to go through the cycle and me obviously in 5 years time I’m

Confident that it would have appr appreciated significantly yeah a lot more out hopefully rates are down and then yeah then it’ll be really come into itself W it exactly exactly I love this bathroom so we’re on the final few snags of the house um so we did spot a slight leak in the

Roof uh and that can cause a problem so we have put a new felt roof in just to cover the patch Y and then we’re just repainting this um it’s just had its first coat stand it down and pinked can happen even when you finish the full

Reef uh something can still leak through cuz it was a really rough house before and this is just one of those examples that’s probably just where there’s like sitting water or has managed to get through and sit for a bit and then it’s obviously come through now you fix that

So exactly but um part from that very basic bathroom spent about £600 for the toilet sink and Taps I love these black Taps yeah I’ve got that at home so nice yeah premium finish I think I give it a little bit different I love this black radiator yeah I didn’t think the actual

Sink you’ve gone for nice the actual Suite you’ve used cuz obviously you can get much cheaper ones can’t you yeah exactly yeah I mean honestly I think we’re talking you know maybe like1 more for a much better sink um again I’m estimating there but I far better though

Yeah exactly I I just like it’s got that um you know quality look exactly in the appeal um and when you eventually look at the shower and the bath I love the style as well yeah and um whil obviously you shouldn’t really get emotionally attached to your business properties at

The end of the day you still want it to appeal to someone and so I literally build them how I want them to appe and without breaking the bank yeah yeah I think it’s a combination of that be proud of what you you’re providing get

The right end value and try and keep it cost effective it’s that constant balance isn’t it exactly and I know that if it do to a good spec then it’s going to be off the rental market in no time at all which in this case it was another

Big thing was the time scale um so picked up the keys May and we got it valed August 15th so that was literally 3 months we’re now mid September so we’re almost where the tenant’s coming in and it’s just finishing up everything so four months in total well 3 months

Refurb four months to get everything set up and for me that’s a pretty good timeline yeah and um yeah on to the next one on so no I think I think generally speaking it’s nice to see the two different stages yeah so you got that one halfway through this one completely

Finished I think you’ve done superb job on the finish I think it’s great for someone to move into and something to manage be very low maintenance which is good well fingers cross yeah yeah yeah 100% um I mean when you see eventually see the the one that you saw today M

Referb when that’s finished it’s going to feel like d Vu I think it’s going to be quite similar same recipe cuz just it’s just a winner like you’re not spending too much but it’s still going to add that value and then uh I’m not sure if you want to talk about this but

Also we have other investors looking at this area and it’s going to be a very similar pattern yeah could sort of rinse and repeat now that you’ve got I think this leads us onto a good topic really which is the Builder side of things yeah

Um now might be a good time to say if anything went wrong during the build or would you say it was quite a smooth one and if so yeah yeah I mean um so I’ve done Fair few projects now this was the first time working with this builder in

South Wales and by far the best daugh I’ve ever worked with and this is not me like blowing smoke up his ass if he watches this he’s going to be blushing um but no he was brilliant from the start um stuck to the structure yeah you

Know I paid him on time Etc which he should always do he doing a good job came up with innovative ideas such as the bedroom and the landing a really good one exactly yeah his uh big part of it was his his workers his labor all work for him they’re not all

Subcontractors which is another big plus really struggling to to to think of anything uh any criticism or feedback which is so rare which I feel like it’s a good sign if you if you can’t think of your issues you’re okay yeah I mean exactly yeah no I think I that would be

Hard to say if it was to say to do it quickly cuz you didn’t such a good speed yes um yeah no I I have nothing B to say about this Builder good and how did you find him how do I find him just um just

I mean it’s it’s a cough out answer but just been networking so he’s in and when when you say networking for someone who’s like what do you mean by it’s like you’re going to events you meet talking to people that invest in this area um so this one was actually this another

Investor I know who invested in this area and referred me to this Builder and said you got to use this guy which is I think the honestly one of the best ways of finding good people it’s word of mouth but um just to add a bit more onto

That obviously you said events and stuff that is obviously a great way of doing it one of the Nicha ways I don’t know if you what you think of this but Facebook can be really good at finding Builders because that is more or less word enough

Because you got your average Joe or your average um face Facebook user demographic they like to write lots of feedback if they got nothing else to do that’s a great way to find Builders and I found some good ones in the past by doing that yeah that’s very true I I

I’ve tend to have gone down the same route that you have like when I’m in Liverpool and Yorkshire it’s always been find someone or I know someone in the area that’s doing the projects kind of meet them at their projects go through them kind of like we have today yeah and

Then you get a real feel for the quality of work I can ask you what you actually think and that’s how I met build C Liverpool my firstes was through a friend ol up there I was like who you using you know who’s good who’s not good and did

Certainly kiss a few frogs along the way but um managed to find a good really good one at the end so yeah so then you kind of stick with them as long as they are good that’s the good point so right now I am paying him on time whenever he

Wants I don’t he question it I take him to lunch whenever I come down here a little things like that just shows that you you know you care and I’m just saying what this is my next project and I’ve even offered to do a JV with him as

Well and he’s Keen for that that’s a very good idea I just know then obviously that we’re going to keep working together yeah and um yeah if you find a good Builder just tie them down CU they are so hard to keep hold up cuz other people other investors will see

What you have and they’ll want a piece of that yes yeah as I’m sure they would ask following this video I’m not saying so there we have it two brilliant properties two brilliant deals where barely any money is being left in after refinance I currently don’t have any

Properties in South Wales but I’m certainly more tempted after seeing Matt deals today I hope you’ve enjoyed watching this video I hope it’s been a useful watch and as always I will see you in next week’s video