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I'm electrician by trade and done everything myself apart gas/plastering/windows/driveway to keep the cost down as much as possible.
The previous two refurbs i've done were full refurbs but i didnt change the layout/add extra rooms etc
This being said, it was something i was looking into for my next property to add more value/equity
I think without doing a refurb again i wont have equity to roll over and help me get another property further down the line
Congratulations on what you have achieved so far!Your method is one of the fastest ways to grow a portfolio, but it is being on a treadmill to some extent.Perhaps you could look at something less onerous for your next property, such as buying a property with a short lease and getting the lease extended, (see - Investment potential of leasehold properties with short leases  or finding a property with a poor energy rating and adding some energy improvements such as a new boiler etc., or doing a loft conversion?You could also offer a reduced rent on a property in need of light refurbishment on the basis that the tenant undertakes the work. This is something I believe Jonathan Clarke does.I would continue to view properties and I am sure an opportunity will present itself to you. See also - Growing a property portfolio - resources Perhaps also take advantage of a free consultation with PT partner Nova Financial - email firstname.lastname@example.org or call their office on 0203 8000 600. You can learn more about Nova Financial here; https://www.nova.financial . They assist with business planning, determining your optimum strategy, etc. so may be able to assist you in moving forwards.
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
Congratulations on your already successful portfolio and on your thought to expand.
If what you are doing works for you already then continue doing it. Do what is best for you and what benefits you most
Transparency notice: OneandOnlyPro is a commercial partner of Property Tribes.
Yes keep going with your strategy whilst your energy levels are high then stop
Know your limits
Get better with each one . Refine and execute each refurb with precision
Get the tenants to work for free and save labour costs
Ones just paid me £500 for a shell
And they are the ones who have shopped for the stuff and will be there painting
Just doing a 3 bed at the mo and leveraging other peoples time
Dont be lazy and buy something that other people have already been done up
Its tempting sometimes but leaves a pit in the stomach as all the potential profit is down the drain
Delegate when necessary so you dont get overwhelmed
Then in time you may have 2/3/4 on the go at any one time
Gradually you become the manager not the worker . Grow into that role
Just watch out for the wall and know when enough is enough
Jonathan Clarke. http://www.buytoletmk.com
It really depends on the area and what you can get... You need to get it at a substantial discount and need to take into account all the costs including interest paid on the mortgage and lost rent not just the refurb cost.
My most successful rental property was a ready to rent, I had a tenant lined up while I was waiting to complete, as it was in good nick I could show them round straight away and they took it, a week of slapping a bit of paint on and that was 6yrs ago, same tenant still in.
Refurbs are tiring, but when done correctly they more rewarding in my opinion...