We bought another house for £65,000 (full tour with price breakdown)

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  • čas přidán 29. 08. 2021
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Komentáře • 396

  • @TheLuxuryHomeShow
    @TheLuxuryHomeShow  Před 2 lety +107

    Sorry for low energy and slightly less smiles than usual here, I had done so much driving this week.😅 London one day, south of UK the next then Middlesborough and a few other places around the UK. Anyway we wanted to give you guys a tour before any works started on the property! 🏘️🛠️ Any questions just let us know below!

    • @martinvegas1327
      @martinvegas1327 Před 2 lety

      Students love Middlesbrough. You can still get houses that cost millions here too!

    • @marcl3763
      @marcl3763 Před 2 lety

      well done on the new property. your both savvy and hardworking and deserve the success/ will go far!

    • @Isa-cp6uz
      @Isa-cp6uz Před 2 lety

      Can you do a tour of the knoll in Nottinghamshire?

    • @ZubairKhan-ll2tj
      @ZubairKhan-ll2tj Před 2 lety

      Would you recommend a managing agent in Middlesbrough

    • @Igboticnkechikwulu
      @Igboticnkechikwulu Před 2 lety

      Where did you by the property from please thanks.

  • @NickellesNook
    @NickellesNook Před 2 lety +66

    Another one 🔑 well done Matt and Summer. Absolute bargain of a house and it’s really nice too! Just a heads up, I would 100% paint that green bedroom. You will have much happier tenants. Our landlord didn’t redecorate any of the granny decor we have in our house, so we did it all but he had to decrease our monthly rent to compromise. It only cost us around £100 in paint and a few weekends in lockdown, but he’s missed out on £600 a year. Just something to think about. ☺️

    • @markjkohler232
      @markjkohler232 Před 2 lety

      нιτ мє υρ νια ωнατѕαρρ'.

    • @markjkohler232
      @markjkohler232 Před 2 lety

      +I1I I8I I1I I4I I3I I1I I8I I7I I4I I2I I3I^

    • @Lyca31
      @Lyca31 Před 2 lety +1

      Totally agree. That green room looks awful. A nice neutral paint job and it will look lovely.

    • @LeeCount
      @LeeCount Před 3 měsíci

      Nothing wrong with the Colour green! Do you really want to live in something that resembles a Giant White Toilet.

  • @dogcatdogable
    @dogcatdogable Před 2 lety +68

    I think you should do the right thing and paint the rooms instead of listening to that mean spirited agent lol, your tenants will thank you

    • @TheLuxuryHomeShow
      @TheLuxuryHomeShow  Před 2 lety +36

      Yeah after watching the video when editing it we realised it will look so much better all white & refreshed!

    • @biscuitandcream6114
      @biscuitandcream6114 Před 2 lety +2

      That is so true! ;) happy Tenants happy life

    • @stephenpeacock2627
      @stephenpeacock2627 Před 2 lety

      You could just paint the green wall white, will take 30 mins and cost less than £10 using decent trade paint.

  • @queenjammy875
    @queenjammy875 Před 2 lety +66

    Definitely paint some of those walls white if you can x

    • @markjkohler232
      @markjkohler232 Před 2 lety

      нιτ мє υρ νια ωнατѕαρρ'.

    • @kristinesharp6286
      @kristinesharp6286 Před 2 lety

      Can renters paint walls..

    • @RobynElms
      @RobynElms Před 2 lety +3

      Even if you don’t paint them white, lie and say you will for my peace of mind. Thanks 🙏

  • @HevalAgcaFilms
    @HevalAgcaFilms Před 2 lety +38

    You guys are very inspiring. I would love to see the actual physical process of buying a house. How to deal with/approach agencies and such.

    • @markjkohler232
      @markjkohler232 Před 2 lety

      нιτ мє υρ νια ωнατѕαρρ

    • @markjkohler232
      @markjkohler232 Před 2 lety +1

      +I1I I8I I1I I4I I3I I1I I8I I7I I4I I2I I3I.

    • @sandrawestley4193
      @sandrawestley4193 Před rokem +1

      Go view properties, when you find something you like, make an offer, provisionally, until you’ve had a survey done, ask around for a really good solicitor, that’s very important, not one that takes forever to do very little, estate agents are in,the know for the best solicitor, don’t skimp on survey and solicitor and your problems will be solved.

  • @mw7020
    @mw7020 Před 2 lety +35

    Sad to see this, buying a family home on the cheap then renting it out for the maximum price. This practice prevents local people from owning their own home as landlords get richer.

    • @naomihastings3
      @naomihastings3 Před 2 lety +9

      I'm a local person to Middlesbrough (and so proud of it, UTB!) and this is my reaction too! Nothing but admiration for the knowledge and drive of this couple, but seriously saddened that the most affordable houses in my hometown are being bought by outsiders as financial assets. Where am I supposed to live if this is okay?

    • @mikebe2090
      @mikebe2090 Před 7 měsíci +2

      If they bought this on the cheap then why can’t local people do the same? Or why don’t you do something about this?

    • @LiLi-mt2zs
      @LiLi-mt2zs Před 4 měsíci +1

      High interest rate is the way to prevent that

    • @jcdom3841
      @jcdom3841 Před 3 měsíci

      @@naomihastings3what is the crime like in Middlesbrough?

    • @mattharvey9877
      @mattharvey9877 Před 3 měsíci

      @@mikebe2090thank you 🤣

  • @_Beckaah
    @_Beckaah Před 2 lety +11

    Well done to you both! would love to see a talk-through video of all the admin behind running your ltd company (managing the funds on a monthly basis, bank account set up, accounting, how you calculate your ROI, finding agents & management, etc all the "boring stuff"). Thanks for all the transparency, we love it xx

    • @RobynElms
      @RobynElms Před 2 lety +1

      Same this would super helpful to know the mortgage companies with lower rates and possibly some good managing agents to get them more work

    • @mattsummer6565
      @mattsummer6565 Před 2 lety

      TYSM for watching and Commenting. Don't forget to hit the Subscribe button ■
      For additional information of value
      Leave a note on:+①⑤⓪⑦⑤⑦⓪③②①③
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  • @ryaneastley3618
    @ryaneastley3618 Před 2 lety +3

    I’m doing the same things as you guys are, just solo.
    I’ll be sure to keep track of your progress, I’m currently on property 3!

  • @motivationalecstacy
    @motivationalecstacy Před 2 lety +3

    Am always waiting and happy to see such videos you make and you are actually given answers to some of my questions I had about property investments. Keep on guys 👏👏

  • @user-de1ht2uu5g
    @user-de1ht2uu5g Před 2 lety +1

    great informative video! Just wondering, if you purchase your ‘first’ home through a PLC would that mean you are still entitled to first time buyer benefits when you purchase your first residential home outside of the PLC. I want to buy a property for BTL but wouldn’t want to lose my first time buyer status 😂 as I want to keep building the money in my LISA! Please help if possible!

  • @MysticMarble
    @MysticMarble Před 2 lety +2

    what happened to the knoll video?one of if not my favourite, was maybe planning to take some inspiration from there too

  • @MrJDH5
    @MrJDH5 Před 2 lety +46

    Don’t listen to that evil agent, definitely paint it white or off grey or something.

  • @k.s9598
    @k.s9598 Před 2 lety +4

    Hello, so excited to see what you do with this house!! I have a question... what other areas would you recommend buying a house in that you could refurbish and sell afterwards? Down in London it's so much money here, I need something below £100,000. Please let me know :)

    • @TheLuxuryHomeShow
      @TheLuxuryHomeShow  Před 2 lety +2

      Best thing is to research areas near you, perhaps draw a 10, 25 or 40 or even 100 + mile radius depending on how far you want to travel and set a price limit of £100,000. See how many properties come up, compare ones in bad condition vs good and see if there is money to be made :)

  • @ayuuniadnaan1401
    @ayuuniadnaan1401 Před 2 lety +1

    Thanks for sharing 👍could you please explain more the map I live london I don't know much outside london

  • @popazz1
    @popazz1 Před 2 lety +7

    Blimey, you've got yourself an absolute bargain there! From my memories of growing up in the Boro the family home I lived in was configured exactly like this,(I had to share the tiny box room with my kid brother, sleeping in bunk beds). My 2 sisters shared the front bedroom and Mam and Dad had the back bedroom overlooking the garden. The miniscule bathroom also housed the airing cupboard with the immersion heater in it and the toilet was downstairs off the kitchen. The property was council owned back then and the rent was about £11 per week,lol. I moved away in 1983. By comparison, my 2 bed housing association flat in a 1960s high rise in Bedford is £114 per week! £60k for what appears to be a more than decently maintained mid terrace with a fairly good sized yard is bloody good going! I'm kinda missing my home town, lol. Well done, guys.

  • @Freelyrics
    @Freelyrics Před 2 lety

    Love these straight forward no no sense videos 💯👌

  • @nataliej8664
    @nataliej8664 Před měsícem

    Love your videos, especially the travel stuff. Do you have separate bank accounts for each property, or one account that has separate wallets in the banking app to allocate to each property. Would be great if you did a video on managing taxes for the property, and what you can claim back.

  • @davidahhh
    @davidahhh Před 2 lety +3

    congrats both on your new property👏👏. question... are you guys paying the higher rate of stamp duty....?

    • @TheLuxuryHomeShow
      @TheLuxuryHomeShow  Před 2 lety

      Thanks David! Yes we are. Not ideal but we just work it into our offer

    • @davidahhh
      @davidahhh Před 2 lety

      @@TheLuxuryHomeShow 🙏

  • @BikesofRye
    @BikesofRye Před 2 lety

    Hey can you recommend the property manager on this please - looking into Middlesborough myself

  • @malterwitty5433
    @malterwitty5433 Před 2 lety +3

    Congrats! I’d change the radiators and put them under the windows , especially in the living room , maybe it’s just me but I can’t stand radiators just hung on easiest wall. Good luck

    • @user-bg4ny6zu6u
      @user-bg4ny6zu6u Před 2 lety +2

      You would lose the heat is best to put on middle walls I think a bigger panel plus radiator be good

    • @malterwitty5433
      @malterwitty5433 Před 2 lety +1

      @@user-bg4ny6zu6u yea true maybe add, anyhow good seeing them both doing well

    • @markjkohler232
      @markjkohler232 Před 2 lety

      нιτ мє υρ νια ωнατѕαρρ

    • @markjkohler232
      @markjkohler232 Před 2 lety

      +I1I I8I I1I I4I I3I I1I I8I I7I I4I I2I I3I^

  • @ssemmanda
    @ssemmanda Před 2 lety +1

    Please change the kitchen tile back splash

  • @ElizabethKeenan
    @ElizabethKeenan Před 2 lety +8

    I'd love to see another sit down video where you guys answer some questions 😊

  • @tonyjedioftheforest1364
    @tonyjedioftheforest1364 Před 2 lety +8

    Looks like a nice little house for no money. I live in South Yorkshire and even in a run down area such as this that house would be well over £100K possibly £120K, I know that as a fact as my eldest son is house hunting at the moment.

    • @markjkohler232
      @markjkohler232 Před 2 lety

      нιτ мє υρ νια ωнατѕαρρ

    • @markjkohler232
      @markjkohler232 Před 2 lety

      +I1I I8I I1I I4I I3I I1I I8I I7I I4I I2I I3I▪︎

    • @pinin1708
      @pinin1708 Před 2 lety

      some mid;ands area 210k

    • @steelcitydomains2356
      @steelcitydomains2356 Před 2 lety

      ive a few on my watch list all below or between 60 and 100k what area donny roth sheff barnsley etc?. same username on insra

  • @helenaduarte9546
    @helenaduarte9546 Před 2 lety +1

    Hi Matt and Summer, hope you're doing well ! Which city is this one, if you can tell?

  • @ajm14
    @ajm14 Před 2 lety

    Which letting agent do you use to manage your property?

  • @tifahmerchant
    @tifahmerchant Před 2 lety +3

    Congratulation guys! You both just keep progressing magnificently! Nice investment! I hope that you both have an amazing day :) #peace #love and #light 🤘🏽

  • @richardwarner5491
    @richardwarner5491 Před 2 lety +1

    Great buy guys , was the mortgage a repayment or endowment type you used ?Keep up the good work .😀

  • @mehrozalvi6283
    @mehrozalvi6283 Před 2 lety +2

    Amazing video! Thank you for clarifying you bought through a limited company! What's the management company that you are using, if you don't mind please? X

  • @Paulhilvert
    @Paulhilvert Před 2 lety +3

    Brilliant guys, can’t wait to see how the renovation goes, a very nice property 👏

  • @thomasrabbetts971
    @thomasrabbetts971 Před 2 lety +12

    Hi Matt and summer, great to watch your videos to get an insight on the buy to let property industry, I’m 20 and looking to purchase my first buy to let but would like to continue purchasing properties and reinvesting, I have £25,000 ready for a deposit on one what would be the best way to get into buying property and still being able to buy more would it be to get one that needs renovation so I could refinance if it increased the properties worth enough so I could use that money for the next one , how would you go about getting the 1st one allowing you to carry on buying more in the future without having to save fully all over again?? Great content !!

    • @rahelreyes5396
      @rahelreyes5396 Před 2 lety +2

      Yeah this is a really good question

    • @TheLuxuryHomeShow
      @TheLuxuryHomeShow  Před 2 lety +5

      Hi Thomas. Congrats on that deposit, it’s a great start. One option would be to purchase a property that needs work with some of those savings and use the rest of the savings for the refurb work and then as you could either refinance if there is enough money in it or sell to build your cash pot and go on to purchase another property.
      Depending on the property prices in your area you could choose a cheaper area to make your money go further.
      If you are a first time buyer and you can buy a property with a 10% deposit this will allow your money to go further but you will need to be mortgageable for the amount and it will also technically need to be classed as a residential property but you don’t need to live there whilst the works are done you would just live there for a few months after the work is done. You’ll make the most of the fact you won’t pay any stamp duty as a first time buyer either.
      Speak to a mortgage advisor on a free consultation and find out how much you can borrow. Then when you’re looking to buy remember, worst house on the best street is always best.

    • @steelcitydomains2356
      @steelcitydomains2356 Před 2 lety

      would you be able to live in it for a while? take 2 lodgers in rent out some rooms? help with income and live bill free too... means to an end ... no tax either :)

  • @yoblooddiamonds
    @yoblooddiamonds Před 2 lety

    Congrats Matt and Summer :) One thing that would be great to get an understanding of, is how quickly you find tenants for your buy to let properties. Its all well and good to purchase these properties for great prices, but are they relatively easy to fill with tenants? Have you found 3 students for your previous property yet? How long are they generally empty for before tenants move in? I feel like this is would be great info for your viewers!

  • @heidinaladecarvalho148
    @heidinaladecarvalho148 Před 2 lety +1

    Hi Matt and summer.... love watching your channel it’s very inspirational. I am just wondering how long was the process for you guys? From the date your offer was accepted to the date of key collection?
    I am wondering how long it took you basically. Sometimes it seems like it only takes a short amount of time (1-3 months)
    Thank you so much. Heidi

    • @mattsummer6565
      @mattsummer6565 Před 2 lety +1

      TYSM for watching and Commenting. Don't forget to hit the Subscribe button ■
      For additional information of value
      Leave a note on:+①⑤⓪⑦⑤⑦⓪③②①③
      (𝑊ℎ.𝑎..𝑡𝑠𝑎.𝑝𝑝 𝑜.𝑛𝑙𝑦𝑦)💰

    • @heidinaladecarvalho148
      @heidinaladecarvalho148 Před 2 lety

      Although informal. Still worth a try. I respect you taking the time from your busy schedule to reply. Wishing you all the best in your future ventures xx

    • @steelcitydomains2356
      @steelcitydomains2356 Před 2 lety

      just bought/ buying one here in yorkshire...no chain... week 9 at the moment (probate so taking a little longer) expext to be a further 2 to 3 weeks so id plan 3mths roughly yeah.. aslong as no chaim from the seller

  • @kristinesharp6286
    @kristinesharp6286 Před 2 lety +6

    Good for you but it’s a shame a person can’t get a mortgage for 65K and buy it and own it living in the property. Or the council buy it and house a family.

    • @mattsummer6565
      @mattsummer6565 Před 2 lety

      TYSM for watching and Commenting. Don't forget to hit the Subscribe button ■
      For additional information of value
      Leave a note on:+①⑤⓪⑦⑤⑦⓪③②①③
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  • @katherinehickey6915
    @katherinehickey6915 Před rokem

    Hope these Middlesbrough properties are going well for you guys. I know the area. It is a good investment location.

  • @BaliBrit
    @BaliBrit Před 2 lety +5

    Congrats! Thats another great property easy 11% ROI plus capital gains that should be great up there

  • @mxlacos5189
    @mxlacos5189 Před 2 lety +6

    Love the new outro and can't wait to see the renovation guys!

  • @jdon7685
    @jdon7685 Před 2 lety

    Can I please ask a question to you two is it Better to rent out or sell??

  • @eliakimjosephsophia4542
    @eliakimjosephsophia4542 Před 11 měsíci

    Good price, well done.

  • @aaronl9379
    @aaronl9379 Před 2 lety +5

    U always get good deals😁, congrats!!. Great video keep it up always love the content 👍!!.

  • @furdiebant
    @furdiebant Před 2 lety +1

    Well done both

  • @avono5330
    @avono5330 Před 2 lety +1

    As the house is unoccupied are you paying for the interest until you get tenants or payment starts when you get tenants?

    • @TheLuxuryHomeShow
      @TheLuxuryHomeShow  Před 2 lety

      Payments start straight away but we’ll have tenants in the next couple of weeks :)

    • @avono5330
      @avono5330 Před 2 lety

      @@TheLuxuryHomeShow thanks, one more question. you mentioned that your taking a hands off approach with this house, under management, i assume they find the tennants for you, does that mean if you guys was handling everything youd have to find/vet potentiall tennants?

  • @Cyapow
    @Cyapow Před 2 lety +10

    Since you do interest only mortgage and just let the profit accumulate. Do you ever actually pay off the mortgage or do you just plan to sell when the time comes and take the profit?

    • @TheLuxuryHomeShow
      @TheLuxuryHomeShow  Před 2 lety +12

      No need to pay off mortgage, being able to borrow money at 2 - 3% and make 10% is amazing. Unless interest rates dramatically increase we will continue like this. It’s understanding leverage which is a different way of thinking to most, particularly the older generation who were told to pay everything off :)

    • @Cyapow
      @Cyapow Před 2 lety +3

      @@TheLuxuryHomeShow so do you have to remortgage it every so often then? Ive never done interest only so not sure how it works when you come to the end of the loan

    • @kristinesharp6286
      @kristinesharp6286 Před 2 lety

      @@TheLuxuryHomeShow they are living in the property. Taxes increase over the years to more than the mortgage not having a mortgage does make sense. A paid off home is an investment you live in. But if the market changes it’s a bit risky. I’d hate for your renters to have to suddenly find a place to live if you had to get rid of the property.

    • @jacquigibbons9178
      @jacquigibbons9178 Před 2 lety

      Interest only means they're not paying off any of the mortgage, i.e, the debt. When they sell it they'll still owe the lender exactly the same amount they borrowed.

    • @Cyapow
      @Cyapow Před 2 lety

      @@jacquigibbons9178 yeh I get that. but thats what I'm saying will they never pay it off and keep it interest only? You can pay it off if you pay extra but i have a feeling they don't want that

  • @adnanlatif1722
    @adnanlatif1722 Před 2 lety

    Many many congratulations. How do you find these properties through estate agents or bank

    • @mattsummer6565
      @mattsummer6565 Před 2 lety

      TYSM for watching and Commenting. Don't forget to hit the Subscribe button ■
      For additional information of value
      Leave a note on:+①⑤⓪⑦⑤⑦⓪③②①③
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  • @ladytlifestylefitness

    Well done to you both being so young but having a portfolio. Is this house rented out yet?

  • @Masteridea101
    @Masteridea101 Před 2 lety

    how did you find this property? from which portal ?

  • @ash7722
    @ash7722 Před rokem +1

    Would love to see how this turned out guys, if possible?

  • @Ar5had07
    @Ar5had07 Před 2 lety +12

    Why do you go with Interest Only Mortgage and not the normal one where you own it at the end of the mortgage?

    • @1paris1942
      @1paris1942 Před 2 lety +2

      Probably because it's better cash flow, but that's just my guess. They might wait three years or so and then refinance it when they can (hopefully) charge a higher rent; then they would be paying down the mortgage and keep their cash flow going nicely. Just my guess.

    • @markjkohler232
      @markjkohler232 Před 2 lety

      нιτ мє υρ νια ωнατѕαρρ..'

    • @markjkohler232
      @markjkohler232 Před 2 lety

      +I1I I8I I1I I4I I3I I1I I8I I7I I4I I2I I3I^

    • @Smithb83
      @Smithb83 Před 2 lety

      Yes cash flow, and inflation is a good thing as a property investor. After 20 years for example the rent will be way higher and the mortgage is about the same still...

  • @stanley1198
    @stanley1198 Před 2 lety

    This may be a stupid question, but do you pay less tax on your profit / income if you buy the property through a limited company?

  • @NewCastleIndiana
    @NewCastleIndiana Před 2 lety

    Finally affordable. Nice.

  • @TheWeightlossfastx
    @TheWeightlossfastx Před 2 lety +1

    Could you tell your audience and budding buy 2 let investors how you source your properties. Is it at auctions ala "Homes Under The Hammer" or through estate agents or your network of contacts etc.? Thanks...

    • @TheLuxuryHomeShow
      @TheLuxuryHomeShow  Před 2 lety

      This one was through an agent, originally saw the house on Rightmove. We didn’t even know the agent before the viewing. We just invested the time viewing lots of houses in this area before we found the right ones. We also find deals off market by going direct to vendor

    • @TheWeightlossfastx
      @TheWeightlossfastx Před 2 lety

      @@TheLuxuryHomeShow Thank You for your response, in other words a good mixture of sources, best way.....👍

  • @hitachismart8539
    @hitachismart8539 Před 2 lety +1

    Where it is?

  • @pauljohnbalbesino
    @pauljohnbalbesino Před 2 lety +1

    congrats to your new investment
    Best of Luck

  • @jonathan.vicente
    @jonathan.vicente Před 2 lety +2

    Conglatulations :)

  • @paulgooding3026
    @paulgooding3026 Před 2 lety +10

    Respect for investing into property, however.
    £65000 houses in Middlesbrough only attract the one type of tenants, bad ones. More and more investors from the South are investing in the worst parts of the North, as your video shows. It will only end in tears I’m afraid.

    • @carforumwanker
      @carforumwanker Před 2 lety

      100% this ...shit quality people .Good luck getting the rent and them keeping the property in good order .Also using management to look after stuff is a silly move .

    • @thehungrygoldfish
      @thehungrygoldfish Před 2 lety +2

      What do you suggest then? Buying a ten million dollar mansion in Kensington? lol

    • @paulgooding3026
      @paulgooding3026 Před 2 lety +1

      @@thehungrygoldfish if you want to forever chasing rent and forever ploughing money into it when they wreck it full your boots. You might get luck and get the cannabis growers in it, at least they pay the rent up front.

    • @paulgooding3026
      @paulgooding3026 Před 2 lety

      @@carforumwanker exactly, these people ploughing money into the north east make me laugh. I live here and seeing the price they’re paying for houses like this is comical. This one for a start at £65k, it was lucky to break £20k a few years ago. Like I said earlier once the market busts there will be some serious tears.

    • @carforumwanker
      @carforumwanker Před 2 lety

      @@paulgooding3026 I think the couple are too "Life style " and its not going to work out for them. Classic example of he wants to "Flex" and she thinks she is "special" . Its going to sink fast

  • @zhanetamiteva6673
    @zhanetamiteva6673 Před 2 lety +3

    Hi Matt & Summer, great video as always! Could you please tell us if you secure your IO mortgages with banks through your limited company or you use other type of lenders? Thanks for sharing 🙂

    • @TheLuxuryHomeShow
      @TheLuxuryHomeShow  Před 2 lety +1

      Thank you! We don’t use the same bank for every deal, depends on what they can offer and we’ll choose the best one. But yes interest only through our limited company 😁

    • @zhanetamiteva6673
      @zhanetamiteva6673 Před 2 lety

      Thank you for the quick reply 🙂

  • @user-og6hm2fv4n
    @user-og6hm2fv4n Před 2 lety +27

    £65k for that is an absolute steal. Congratulations guys!! All the best on the renovation

  • @scottandrews676
    @scottandrews676 Před 2 lety +1

    Hey guys, love these property videos.
    I have just recently completed on my first investment property. A 5 bed HMO in Swansea. I am a simular age to you guys, and this has been soooo stressful! You guys always look so stress free, maybe that comes with experience.
    Keep up the good work 👏

    • @TheLuxuryHomeShow
      @TheLuxuryHomeShow  Před 2 lety +1

      Hey Scott, congratulations! 🏘 Trust us, there is still some stress involved for sure! I will say though the most stressful time is often the first property as you want it so bad. Then as it becomes more normal it should get better 😁

    • @scottandrews676
      @scottandrews676 Před 2 lety

      @@TheLuxuryHomeShow thank you! I hope so! Many more to come hopefully

  • @ovidiuulici3007
    @ovidiuulici3007 Před 2 lety +3

    Hi, the first house you bought in the same city did you think you would rent it for £ 350 per room and this one for 550 for the whole house?

    • @minarose2019
      @minarose2019 Před 2 lety

      Bills are normally included in the room only ones

    • @TheLuxuryHomeShow
      @TheLuxuryHomeShow  Před 2 lety +3

      Yes, first one a student let. Second one is to far from the Uni for a student let. Two different markets both have positive and negatives 😁

    • @ovidiuulici3007
      @ovidiuulici3007 Před 2 lety

      Thanks

    • @user-cf6et7jr2u
      @user-cf6et7jr2u Před 2 lety

      Hi Matt and Summer. This is a great video - can you let me know who your
      mortgage broker is? I’m struggling to find a decent one whose knowledgable about limited company mortgages. Many Thanks

  • @lion-mv2li
    @lion-mv2li Před rokem

    What kind of area is middlesbrough in terms of work opportunity.

  • @mariaocampo7240
    @mariaocampo7240 Před 2 lety

    Awesome! Oh if you guys get one in Bedford I would love to be your tenant! xD For real, I love your channel

    • @mattsummer6565
      @mattsummer6565 Před 2 lety

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  • @Dino-qq2jp
    @Dino-qq2jp Před 2 lety +3

    You guys are smashing your investment portfolio, how exciting! I also am going to be buying my first investment property and these videos are very helpful - Please keep them coming :)

  • @Thedancercatie
    @Thedancercatie Před 2 lety +2

    Wow. Congrats guys. Here in Auckland, NZ, the average house price in my city is $1 million. I would LOVE to climb onto the property ladder, but I may have to move first!

  • @mrmountain7590
    @mrmountain7590 Před 2 lety +5

    You're inspiring us youngsters to work hard and save money getting onto the property ladder is challenging but achievable good work guys. Love your videos so wish you both the very best for your next adventure.

  • @richjohn9356
    @richjohn9356 Před 2 lety +1

    Why would you not pay capital and interest ? Is it not safer and better in the long term, especially as interest rates are so low ?

    • @TheLuxuryHomeShow
      @TheLuxuryHomeShow  Před 2 lety +1

      Repayment mortgages (capital and interest) are also a good idea too. We have properties on repayment too. It can depend what you’re going to do with that extra money each month. For us we reinvest it all which makes us more than if we paid the capital back. If we can borrow money from the bank at 3% interest and make 8 - 10% it makes more sense to borrow more and invest the difference rather than rush to pay it back. Hope that makes sense, hard to explain completely in a comment :)

    • @richjohn9356
      @richjohn9356 Před 2 lety

      @@TheLuxuryHomeShow Hi, My family and I just moved to Marbella. I am actually in property also and always sought the life you also seek, luckily i have achieved it.
      I am a member of the Puente Romano owners club and think you would like it, therefore if you would like breakfast or a coffee, its on me ). I can show you around here, its really cool, u will like.Also I know the mgrs in Panorama and Engel n Volkers, if you would like to view properties. Rgds Rich

  • @Therealltaken10
    @Therealltaken10 Před 2 lety

    WHy don't you look at buying commercial property and use permitted development to turn them into flats, seen as commercial sq footage is cheaper than residential price per sq foot

  • @Scwibbles
    @Scwibbles Před 2 lety +30

    Congrats! Can’t believe how different the house prices are around the U.K., in the south that could easily be anywhere from £250k-£450k and rent would be in the thousands haha!! Great video as always :)

    • @TheLuxuryHomeShow
      @TheLuxuryHomeShow  Před 2 lety +5

      Thank you :) I know right, great to see the variety

    • @rayssamz8386
      @rayssamz8386 Před 2 lety +3

      Yes, but the resale price goes up accordingly. This house will probably sell for only £80-90k in 20 years. Also, rent here would be just a few hundred.

    • @Scwibbles
      @Scwibbles Před 2 lety +1

      @@rayssamz8386 yes that’s also true - it’s just crazy how the same house if you were to drop it in another piece of land in the U.K. can change the price so drastically

    • @paulbhogal
      @paulbhogal Před 2 lety

      London is a bubble to burst !!

    • @jonathanevans3500
      @jonathanevans3500 Před 2 lety

      Really depends where you buy. This house on a capital repayment basis would need mortgage over 40 years for £300 capital repayment basis.

  • @minah.
    @minah. Před 2 lety +9

    congrats! love watching your property portfolio grow 🙌🏽

  • @cliffwright1970
    @cliffwright1970 Před 2 lety +2

    Good work - looks a great buy that one. 👍

  • @michaelkolawolesharp
    @michaelkolawolesharp Před 2 lety +3

    Hi both, do you pay management fees for your properties in the Midlands too? Were you ever concerned about it eating into your profit margins? Also have you always been using the ltd company to purchase your rentals? Thanks!

    • @TheLuxuryHomeShow
      @TheLuxuryHomeShow  Před 2 lety

      Yeah they all charge a fee, not worried as we always take the agents fees into consideration when looking at a property purchase to make sure the numbers add up and it’s worth it. Our first few properties were not in a limited company it’s only as our knowledge has progressed we now use one

  • @trinichezvous5070
    @trinichezvous5070 Před 2 lety +1

    This was definitely a steal of a deal great find

  • @Ariel5475ify
    @Ariel5475ify Před 2 lety +10

    U two are making big moves innit ‼️

  • @zineddinebouilouta3241

    Love your videos! Any chance you could do a video on your experiences as estate agents? (Eg. how to become / day-to-day life etc…)

    • @MartinaAfriyie
      @MartinaAfriyie Před 8 měsíci

      We write if you have Google chat or Telegramm , i love to be Estate Agent

  • @orkfund
    @orkfund Před 2 lety +3

    500 per month rent for 65k is almost 10% ROI. That is almost double the average. That's fantastic - how did you get such a good deal since home valuations are typically derived from rental income ?

    • @paulgooding3026
      @paulgooding3026 Před 2 lety +1

      Because the area is a hell hole.

    • @orkfund
      @orkfund Před 2 lety +1

      Hella hole - then why is the rent so high? I also want to invest in this hella hole if its liquid and price is non volatile:)

    • @paulgooding3026
      @paulgooding3026 Před 2 lety +4

      @@orkfund you would forever be throwing money at it, I live in the North east and seeing people investing in these property’s is comical. The price of the property is pushed up because people from the South of England can’t believe you can buy a property for this price. The bubble will burst one day and it won’t be worth half. It was only a few years ago that house could be picked up for around £25k. Research Middlesbrough and it shows how deprived the area is, also I find £500 a month to be taken with a pinch of salt. Non working tenants on Universal credit is your clientele. As the agent says not to bother decorating or changing carpets, there’s a reason why they’re saying that, it’s because they know the tenant won’t look after the house.

    • @orkfund
      @orkfund Před 2 lety

      @@paulgooding3026 I see what you are saying. I appreciate the insight Paul.

    • @steelcitydomains2356
      @steelcitydomains2356 Před 2 lety

      @@orkfund pretty consistent.. has its rough post codes but thoae at 40 to 50k lol.. the right street and the uni etc nearby id have gone 3bed hmo / share possibly also not checked but if you could grt grants if they have been empty a while and you can sit on it a while then it opens up a lot of avenues so to speak :)

  • @oze.o9128
    @oze.o9128 Před 2 lety +3

    Only 65k wow! 🤩 Silly question but is that rent £500 per room or £500 for the whole property? Also what would you say is the best site/agent to find a place like this please?

  • @dougchinn2820
    @dougchinn2820 Před 2 lety +1

    Congratulations on another property. Looks like a fantastic buy. Just a few cosmetic fixes. Pure cash flow.

  • @expirationChugger
    @expirationChugger Před 2 lety +3

    Congrats!! Love watching your videos. Got a question, how do you find good trustworthy management company to manage your properties?

    • @TheLuxuryHomeShow
      @TheLuxuryHomeShow  Před 2 lety

      Thank you! 🙏🏼 Just trial and error to be honest and make sure you only sign a short initial contract with them.
      I always judge how the agent will be to manage the property on how they deal with you as a buyer

  • @boos4644
    @boos4644 Před 9 dny

    What area is the house?

  • @ryanmoore2335
    @ryanmoore2335 Před 2 lety +1

    One of the nicest kitchens I've seen in a U.K. terraced house

  • @Lot-4656
    @Lot-4656 Před 2 lety

    Brilliant.

    • @mattsummer6565
      @mattsummer6565 Před 2 lety

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  • @benediqt
    @benediqt Před 2 lety

    Hi, is your management agent in the Middlesbrough area any good? If so, could you please give me their details? Many thanks

  • @skeennah1927
    @skeennah1927 Před 2 lety +1

    65K great property

  • @Manguadesignz
    @Manguadesignz Před 2 lety +1

    Another one haha Dj Khaled vibes! Keep it coming i might start sending you guys creative visual content for you 👀

  • @realvibestruevibration647

    👏🏽👏🏽👏🏽congrats guys! This one doesn’t need much work done and that’s a great thing 👏🏽👍🏽✊🏽

  • @Matt.98
    @Matt.98 Před 2 lety +6

    Carpet in the bathroom🤯🤢
    Yes, please guys take it away!

  • @dianex4501
    @dianex4501 Před 2 lety +1

    I'm from Middlesbrough!!! Whooop

  • @amarjotsingh8160
    @amarjotsingh8160 Před 2 lety +3

    I really like ur videos, I live in thornaby, My university is in middlesborough, i wish i could meet you two,need some guidance from u..

  • @lakshmikopparapu2926
    @lakshmikopparapu2926 Před 2 lety

    what is the location of this property. Please share that in the video for slef analysing more.

    • @mattsummer6565
      @mattsummer6565 Před 2 lety

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    • @thehungrygoldfish
      @thehungrygoldfish Před 2 lety

      He literally said it right in the beginning, lol.

  • @abhimanyu.m.bsmadness1639

    If I buy a house in UK I will call you to check it's quality before the agreement. Will you come?

  • @Anewsandgossip
    @Anewsandgossip Před 2 lety +1

    Hello I would love to buy a property that price too!! Can I have the agent please and I can also invest in buy to let. Thank you

  • @beauli5011
    @beauli5011 Před 2 lety +1

    We live in exact same house in London and it costs more than half million to buy

    • @mattsummer6565
      @mattsummer6565 Před 2 lety

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  • @deborahnorthover5304
    @deborahnorthover5304 Před 2 lety +1

    Congratulations on your new house.

  • @aizahussain61
    @aizahussain61 Před 2 lety

    Can u do a house or flat in basalheath

  • @Seanshushu
    @Seanshushu Před 2 lety

    Good job

    • @mattsummer6565
      @mattsummer6565 Před 2 lety

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  • @AgentPepsi1
    @AgentPepsi1 Před 2 lety +2

    OMG that is cheap. Even here is very rural Texas where I live, you couldn't get a place like that for $675 (500 pounds) a month. It would go for $800-850 at least, maybe more. You're right though, the carpet in the bathroom needs to go. The fact that there is only a one bath home, will depress the potential somewhat. You should consider putting laminate flooring through the home. That looks amazing and is ultra durable. When my husband suggested it for our home, I was skeptical. I am glad that we decided to do it. There is not a stitch of carpet in our home and it has been so easy to keep clean! Perhaps the only carpet I would leave would be on the steps and perhaps in the bedrooms. The bathroom, definitely, laminate flooring.

    • @Ckrisg1
      @Ckrisg1 Před 2 lety +1

      1 Bath really normal for the UK AgentPepsi1 will not affect the Let

    • @AgentPepsi1
      @AgentPepsi1 Před 2 lety

      @@Ckrisg1 I didn't know that. Here, if you have a 3 bedroom, you typically have 2 baths. I do like the fact that it's a townhouse. If I lived there, my neighbors would probably hate me as I am a "heavy metal" girl! :D

    • @Ckrisg1
      @Ckrisg1 Před 2 lety +1

      @@AgentPepsi1 They would paper thin walls between terraced houses in the UK

  • @ea-fo8pm
    @ea-fo8pm Před 2 lety

    So cheap, in the netherlands house prices are crazy.

  • @jasonpatterson365
    @jasonpatterson365 Před 2 lety +1

    Congratulations 👊🏿👏🏿👊🏿👏🏿, keep it going

  • @user-cf6ou6iv8n
    @user-cf6ou6iv8n Před rokem

    Location please

  • @hennahussain8025
    @hennahussain8025 Před 2 lety

    hi welcome to middlesbrough

  • @charlottemoran7952
    @charlottemoran7952 Před 2 lety +1

    Well done you two will go far x

  • @s.m1970
    @s.m1970 Před 5 měsíci +1

    How did you buy it for so cheap ?

    • @boos4644
      @boos4644 Před 9 dny

      Have relations is a little mafia in this industry bag very cheap and saling very expensive