Demand for Refurb Properties Is On The Increase
House prices in the UK have risen as a result of increased demand and limited supply…
As a result, many first-time home buyers have been forced to contemplate doer-uppers.
But property investors interested in the “Buy, Refurbish, and Refinance” (BRR) model are currently up against stiff competition.
Consider the following when considering a BRR property:
🎯 KEEP IT SIMPLE: You should know your anticipated return upfront for a basic BRR property. It’s easier to price properties that require simple upgrades (new kitchen, bathroom, wiring, etc.), especially for first-time investors.
🎯TIMESCALE: Managing a timeframe needs trustworthy trades and professionals at your disposal. Adding in the cost of not having tenants while you renovate is also a consideration.
🎯CONTINGENCY: Include a buffer in your calculations to avoid a bad investment before your tenants even move in.
> To put it another way, it’s all about the NUMBERS
For more information, here is the link: https://schakerproperty.co.uk/
