#7daysofproperty - Social Craze
As we are now in a time of social media where being online is key to being seen on a greater scale worldwide. Our friends over at "@insidepropertyinvesting" were leading a new challenge on instagram for people to share their thoughts on property and what their great achievements have been. With that said we decided to join in and share insight and thoughts.
Day 1. Hello we are #7daysofproperty . ... Mick & Romero both full time property developers & the driving force behind “Brighter Investments”. We are based in Nottingham although operate across The Midlands & Yorkshire. With the majority of our client base in London. . We have a combined portfolio of 18 properties that consist of single lets & HMO’s. Although we have managed numerous commercial refurbishments we are still yet to own our own however that is about to change in the next few months. We have a combined portfolio of 18 properties that consist of single lets & HMO’s.Although we have managed numerous commercial refurbishments we are still yet to own our own however that is about to change in the next few months. (Already changed since the post in August 10th). .
7 years ago at just 22 Romero purchased his first property while at University and slowly acquired property since. While Mick had various Buy to lets from 10 years prior. . We formulated a partnership as we always worked good together as we had two totally different opinions. . 2 Years ago Romero quit his day job to work closer with investors and since we have never looked back, managing over 18 refurbishment projects of different sizes since for Investors. In addition to managing over £500k in Investors funds to date we have successfully return over £75k in interest return payments. . We continue to go from strength to strength and consistently deliver great numbers on any project for investors. As we also provide a full turnkey solution for those looking to own a property. No matter if it’s a light, medium or heavy refurbishment.
Day 2. What is your strategy. #7daysofproperty . We have always been a strong believer in the BRRR strategy as the greater reward in property is long term. Due to us working for ourselves and clients though we do everything buy to flip, buy to hold, buy to run as SA, Buy to New build . Literally every strategy going we do during a calendar year. The only thing we don’t do and never have is R2SA as this is something we feel we haven’t had to look at. . Although Brighter Investments push the message of equity creation and great returns this can still be realised at a later date. Just because the £30k profit on a project didn’t go straight into your pocket by flipping the property doesn’t mean it didn’t perform well. . Pulling of anyway from 50% plus of the capital invested in a project is great when you may have a day job or another stream of income that quickly replaces the amount the left in the deal. This is the situation both Romero & Mick found themselves in when doing property. . Years later once the properties were remortgaged it meant there was a surplus in the amount they actually inputted in the first place. . We talk a lot about heavy refurbishments and big deals which are great and bring 3 figures rewards of £100k and more. But we did start on the £10’s, £15’s & £20’s and still up to know do some great entry level projects for new clients to give them a taster of real estate. .
We are looking for large deals such as 1. Commercial to residential conversions 2. Derelict Farm Houses and rural homes 3. New Build apartment blocks 4. Land for new builds but the numbers have to stack, its one big job for one big number but while I keep seeing refurbs that do bigger numbers than one new build I won’t be buying the land 5. We are happy to do without planning permission and take the risk as bigger risk means greater rewards. . With this said we will always love the keep it simple refurbs as they are the original babies. . All of the above future strategies we know do with no money down, with the refurb CV we now boast lenders are just reeling at getting involved in these larger projects. With over 25 investors active on the books.
Day 3. Transformation. #7daysofproperty . The PRC Wates Removal was one of the most challenging builds as the old house was removed in sections first then new blockwork and brick installed
. Since 2017 we have been going full force on heavy refurbishments
Day 4 - Sharing the love #7daysofproperty . So for us we follow many accounts and see some great content from investors .
For us we like the get up and go attitude that people express no matter what it is someone is doing. Irrespective to if its a small project, large renovation, sourcing, sales agent, new build land. Quite simply it doesn't matter what it is in property it's the attitude that gets you far and makes you successful . For that we're shouting out one account which has a 'anything is possible attitude' no matter what type of deal it is. Also from what we sit back and see they set an example to their peers and motivate other. For me its based on the most inspiring content we see and motivational words shared. On some days its gives us that's let's go attitude too! . Had to keep it close to home as we're based in the same city @c_property_life keep doing what you do it's inspiring to us. 💯
Day 5. Current Project. #7daysofproperty . So one of the 4 current projects we are doing. (The 5th one we were doing finished on Monday happy days :) . This is by far the simplest one we have done in a long time . Light refurb £9k, new kitchen, amendments to circuit, tiling bathroom floor but the suite was in good condition.
. The reason I don't personally do light refurbs but we do for clients, is the returns are good but larger projects bring even bigger rewards . This current project reminded me of 6 years ago when I first got into property although I was always doing 20k refurbs from back then. But reminds me the clean and simple refurbs is where it started for me and does for many people. Not our best current project but it reminds us of the early struggle and determination to make something happen. . Big up the simple refurb projects under 10k that still look clean at the end and not patchy ☺️
Day 6. Advice - #7daysofproperty . Starting out in any field isn't easy more so property which takes a lot of capital if looking at the BRRR model. One key thing is don't be afraid to work for free. Ask an investor if you can help onsite or simply manage the project just for experiance. .
Experiance goes on your investment CV. If you feel like you want to bring something to the table tell them you want to partner with them too and how much it will be as small as it maybe. . * Stay focused * Have the right people around you * Motivate yourself
Day 7. Best Picture - #7daysofproperty
(totally random still property related seminars) . The Day we knew we was taking our refurbishment model & investment message to market . We had 4 clients before we even made if official and quickly realised our models we formulated met investors needs. . Since 2017 Events form a key part of our strategy as we feel like we are giving back to those interested in real estate. Giving delegates an opportunity to ask as many questions.