So we’ve all watched the TV programmes – Property Ladder etc. We sit and think we could do better than that, surely it’s so easy! Easy to pass judgement when it’s not you doing it and not your money involved.

There is certainly a lot of skill involved in doing a renovation project. One of the main things that you need to do is TO PLAN. Good organisation skills are essential when doing something like this.

You need to decide on your exit strategy up front. Are you going to buy and hold and let the property out or are you going to refurbish the property then try to sell it – flipping. Having more than one exit strategy will reduce your risk. “Begin with the end in mind” Stephen Covey

Make sure you do you research:

  • Research the area – so that you can really target the sort of people who will want to live there, keep your target market in mind when you start to develop your plans.
  • Find a suitable property.

Remember don’t get personal; don’t be tempted to buy things just because you would like them. Don’t spend lots of money on the latest gadgets or technology. This is not going to be your home; you are in this to make a profit!

We have some great eBooks that will help you with a refurbishment project.

Look out for infestations before you buy!

[caption id="" align="alignright" width="148" caption="Look out for infestations before you buy! Dr Dennis Coote"][/caption] One problem which can sometime cost a great deal of cash to put right is Infestation, that is other creatures wanting to share your home with you uninvited. Infestation covers a number of problems that can seriously affect the property and at the same time SERIOUSLY affect the profit you will make. Recognising Infestation It is most important is to be able to identify any of the problems that infestation cause, BEFORE YOU BUY A PROPERTY. Wood Worm Definition Woodworm, also known as the Common Furniture Beetle (anobium punctatum) attacks wood. The result of a woodworm infestation seriously undermines the strength of the timber and in a staircase for instance can cause its collapse. Symptoms The tell tale signs are a series of small holes about the size of a pinhead, and often a small pile of...
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Dampness in Buildings

Dampness in Buildings is one of the main factors in causing dilapidation in properties, apart from the obvious risks to the human inhabitants. Living in a damp house is likely to cause all sorts of problems connected with the mould, which will or has occurred and other related effects such as rheumatism. Causes of Dampness Dampness in a property is one of the main causes of rapid deterioration and all efforts must be made to find the cause or causes of the dampness and eliminating it. For the residents of a damp house, all kinds of health problems will arise, as well as the massive expense if left for too long. One broken roof tile costing a pound or two, if left unattended over several seasons will cause hundred of pounds worth of damage to walls and ceilings. There are five main ways in which a property may become damp. The...
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Dennis Coote’s E Course - Product of the month review

I recently purchased Dr Dennis Coote’s E Course – Property Development for Profit. The course is great value at £67 as I got a 30% off discount voucher for Just Do Property members. With 148 pages in the E Course and several bonus books it’s a great deal. The bonus books include selling without an estate agent, negotiation, kitchens, bathrooms and legals
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An Introduction to Refurbishment

  Refurbishment of a property is something that many people feel that can do easily. But if you have seen some of the disasters which I have, then you would appreciate there is some skill involved. The main word which applies to any project, but very importantly to property renovation and refurbishment is Planning. This is without doubt the most vital first action – taking time at this stage is essential, and worthwhile to save time, energy and money later. Once you have found a property to renovate, or if you are renovating/refurbishing an owned property, take some time to make a list of the work to be done. With your own property of course you will want to make a full list. With a property to be purchased for renting then the list needs to be divided into essential jobs, that must be done, and those that are not so...
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When you have Grand Designs and a £30M budget this Mayfair mansion may be up your street – Times Online

When you have Grand Designs and a £30M budget this Mayfair mansion may be up your street.  Do you fancy a £30M doer-upper in Mayfair? Simon Halabi, the billionaire owner of a £500 million trophy collection of London office blocks that was handed to administrators last month, is selling a property in Mayfair for £30.5 million. Mr Halabi has put the four-storey, Grade II-listed 21 Charles Street on the market with two estate agents. The run-down Georgian terrace is in urgent need of repair and has been left empty for years, according to Westminster Council….. More http://tinyurl.com/ygraq7l
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