X

Sign Up

or

By signing up I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Sign Up

Sign Up With Facebook, Twitter, or Google

or


By signing up, I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Log In

or


Don't have an account? Sign Up

Forgot Password

To reset your password just enter the email address you registered with and we'll send you a link to access a new password.


Already a PT member? Log In

Don't have an account? Sign Up

  • Mortgages & Finance

    Buy to Sell - Low value properties financing

    Thank you for that.

    All works will be completed by myself (well, as much as can be completed by myself), as a learning tool.  I am using this as a learning experience, to establish and upskill myself, and also to see what costs etc are involved with renovations.  I wont remove "my time" as a cost, as its learning and upskilling.

    Big Grin

    0
    0

    That's a good aim to have, and will certainly be a valuable skill and very worthwhile acquiring.

    But I would not view the £8250 (difference between 65k value and 50k+6750 refurb spend) as "equity created"; if you would usually work for a salary of say £2k per month, and the work takes 2 months to do, I would view £4k as "salary invested in the property" (nothing wrong with that!) and the true "equity created" as the difference, i.e. £4250.

    0
    0

    As I do not require my wage in the household to clear our bills and cost of living then Im simply not factoring in how much my time is worth.  What can I say, im cheap!  Big Grin

    For me, this is all about learning and experiencing.Its an adventure, and if it doesnt go my way then I will just revert back to "normal" life, but at least I wont be one of those people who never tried and always wished they had!


    0
    0