Property investors can buy their properties anywhere in the country, or the world but how can you manage a refurb if you’re not there…? Well this video is going to help you manage your refurbs from afar! There are few tips and tricks that will help you ensure a smooth remote management but it does also depend on other aspects too, so be wary of that! Have you managed a refurb of a property from afar before? If so, how did it go? Did you use any of the points I’ve covered in this video? Are there any other tips you could give? Are you reluctant to manage a refurb from afar? Drop a comment below it’ll be good to hear everyone’s different opinions and if you have some more tips, drop them there too, the more tips the better!
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00:00 – Intro
01:07 – Understand the numbers
02:58 – Spec Sheet
04:00 – Bill of quantities
05:04 – When will you check in?
07:00 – Contracts
08:59 – Project manager
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£400 a day in London for bricklayers are you out of your mind? Name the companies paying that on regular day shifts on London building sites….
@jamieyork do you have a video on paying tax on rental income? highlighting the pros and cons of using an accountant or self assessment by doing it on your own. What are allowable deductions from gross rental income e.g. management fees, repairs, CP12 etc.
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I second getting a project manager for all the reasons outlined. My project manager has experience with all the contractors, has experience in insisting on quality and is there all the time. Saves me so much stress and time and is better placed to negotiate with the contractors saving far more than the management fees by keeping the time tight and the costs down. I get told all the time that I should be doing it myself and I'll save more money but its a false economy for me to save money on a project manager. The second key to my success is a great property manager. I have also been told that I could do this to save money but it is another false economy.
I signed up to your aspire property group to buy 2 properties but progress seemed slow at finding a property and had to ask a few times for and update on what's happening. Eventually a property came up but I didn't like the look of it so chose not to proceed. I was then contacted by a manager asking why and almost pressuring me into buying. At this time my faith in your group was failling and then asked for 1 option to be refunded. The second option I was thinking of buying for cash as the budget had just been announced and mortgage rates going up. Time went on and I had to ask again for a progress report and was told your company was still looking for a property to match my expectations. A few weeks passed and no contract and at this point I asked for the second option to be refunded. Both have now been refunded so I thank you for that but the reality of what you say on your channel doesn't always feed through to your company. I agree with everything you say on your channel and still hope to buy property and rent them out . I do hope perhaps down the line to do business with Aspire but this time it hasn't quite worked. I would appreciate if you have time to reply to this . Thank you Jamie.
Apg
Defo use the Lettings agent to project manage the refurb. That’s what I do
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Who is your in house letting agency?
Hi Jamie I want to get into deal packaging any advice on how to start?
Let's goooooooooo
APG
Can you do a detailed video on a refurb with your stages ect.
Alot of sense said, just wish young tenants understand how much is spent on refurbishment, West Wales really busy still £200 plus a day on tradesmen.
APG
First comment!