Auction Property Renovation Project. Done and Dusted!
It’s about time I brought you up to date on my little refurbishment project.
As you’ll remember, a few weeks ago I bought a rather sad and rundown terraced house with the intention of quickly renovating and selling it for a quick return.
As you can see from the latest photographs, the property is now finished. The electrics and gas were certificated yesterday and the carpets went down today. So all that’s left to do is give the property a thorough clean.
I’ve already pre-sold the house so the purchaser’s surveyor is scheduled to make an appearance on Friday and all the legal paperwork is already well underway.
I’m really pleased with the end result, especially considering the house was in such a poor state when I we bought it. It would have been a mammoth task as a DIY project but using specialist contractors the whole works took less than six weeks.
If anyone in North West England is undertaking a renovation or new build project and would like my recommendations for reliable construction or renovation contractors then please get in touch. I’d be happy to help.
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Hi Lyndon,
Property looks good after the refurb, how much do you think you will make on it?
Alan
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Lyndon Forshaw Reply:
August 17th, 2009 at 5:49 pm
Hi Alan,
We have had two local agents round who were both of the opinion that the property would now sell for £110,000. However, the property is already sold at a figure just less than this to a first time buyer. In these times I am wary of the bank surveyors though. I will know his opinion next week and will publish all the final figures once the sale has completed. Cheers, Lyndon
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Lyndon, I’ve got a resi development site under option but haven’t attracted any interest from local developers. Only feedback so far is that they won’t touch it till it has detailed planning. Am I going to have to get it through planning in order to sell it on? Sure could use some advice…..
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Hi, Lyndon. RE: previous feedback…Any advice on the pro’s and con’s of going for planning prior to trying to sell a site on to a developer? I’m not resourced well enough to develop it on my own (someday!) so selling it on is probably the best alternative. Any words of wisdom you can impart would be much appreciated. Many thanks, Dan
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HI Dan, if you can email details of your plot I would happily take a look at look at it for you,
Many thanks, Lyndon
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Hi Lyndon I’ve been following you on propertytribes.ning and impressed by your pragmatic and diverse approach. Also impressed at the £15.5K pricetag on the reno – obviously I can’t price it up accurately from photos but from your description of the spec that certainly seems very reasonable to me. Mind you, it’s a bit more expensive down here for us softy southerners!
You must really trust your builder. Personally I’d want to take a look at least a couple times a week just to keep an eye on quality control. But I guess if you have established a good enough relationship with someone and they know exactly what you want then you can do that.
Also curious about the bridging finance. Did you finance it entirely from bridging ie no mortgage? If so, again it looks like you got a good deal.
Actually there’s something I’d like to talk to you about off a public forum/ blog so I’m going to send a ‘friend request’ on PT so we can exchange private email, if that’s OK?
Rich
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Lyndon Forshaw Reply:
September 29th, 2009 at 10:26 am
Hi Richard,
Good points. My refurb team have completed over 60 projects for me to date so as you point out I now have a trusting relationship regarding their work. My brother does call in more than I do though. As for the finance it was 90% from bridging company and the rest from another source so I didn’t use any of my own funds.
Having a great deal of experience in the refurb game means we can often complete the works cheaper and quicker than most – hence the 15.5k on this project.
Please feel free to get in contact with me at lyndon@ukpropertyexpert.com
cheers
Lyndon
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hiya,
i have just started my own refurb company and am very impressed with your photos, if you wouldnt mind please could you recommend me any builders that you have used as i wouild be very gratefull.
thanks
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Lyndon Forshaw Reply:
November 30th, 2009 at 4:39 pm
HI Stuart,
where are you based?
cheers
Lyndon
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Nice one Lyndon, beautiful refurb job, you’ve got a good team.
Really enjoyed the ‘before and after’ pics.
Regards
Sam (LFM)
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