This Buy, Refurb, Refinance HACK Made Me £100,000! | JV Finance Explained #Finance

so this property was on the market for 200 000 pounds she’d put tenants in it and the tenants had stayed for 12 years during that 12 years they’ve not really kept up with the property not done any maintenance during when we offered I didn’t actually have the money to buy

it so I needed to go out and get a private investor now the value came out and valued it probably about four months ago today it’s worth 425 000. welcome to property investing with Abby on today’s episode we’re talking about a buy refurb re

href="https://cashnews.co/finance" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance using private investor funds the house I’m talking about is called Holly D so this property was on the market for 200 000 pounds it had been a buy to let for 12 years so

what happened the landlord had inherited it she put tenants in it and the tenants had stayed for 12 years during that 12 years they’ve not really kept up with the property not done any maintenance the tenants moved out and the landlord didn’t know any difference and thought I better

just sell it so I came along had a look at the house now it needed everything doing this was back to Brick this ad asbestos this needed to rewiring it needed a lot of the plumbing redoing new boiler so this property was a long Lounge a small kitchen and the kitchen was horrible and orange so it

just needed some love and it had a toilet in the middle of the house so what we did is we redid downstairs and somebody made a lounge office big kitchen Diner utility and garage downstairs now upstairs was already four quite large bedrooms but they were just in a bit of a mess really and then the

master bedroom we put the extension on that to make a master bedroom with an ensuite and a bit of a walk-in wardrobe the asking price was 220 000 I always think it’s worth asking you can only get a no can’t you so I asked if I could buy it for 190 000 they said oh you’re almost

there so we agreed two hundred thousand because it was cash and to complete in six weeks and we didn’t complete in six weeks but that wasn’t our side that was their side but at least we did everything to try during when we offered I didn’t actually have the money to buy it so I

needed to go out and get a private investor so I found a private investor now these people you normally find at networking events they’re in your inner circle they’re people that you know so these people are people with money he couldn’t property invest at the moment himself

because he was too busy and he had this money just sat in the bank so he agreed to give me the money for 12 months and I agree to give him the money back plus six percent interest so he lent me the 200 000 to buy the house plus 40 000 towards the refurb now I done a flip probably six months before

and I’ve made about 100 grand so I put about 90 grand of my own money as well so I’ve got 240 coming from the investor 90 000 of my own that’s about 330 000 we needed to do this I bought the house got the Builder in and we started building we had a massive kitchen put in and every

room was done to our taste we had an interior designer come in my friend Sarah and she did an amazing job just matching what where panelism was going picking bathrooms so at the end all money in it was about 337 000 we spent now I rebold; color: #1a73e8; text-decoration: none;">Financed on a Residential Mortgage because I was going to live here for 90 Residential Mortgage I pulled out all the cash I repaid the investor and then I repaid I think maybe I left 10 grand in I repaid most of the money back to me so I

could get on with my property investing now the value came out and valued it probably about four months ago so we bought it at 200 000 we spent 140 000 on it it was valued at the time when I’d done the work at 375 000 today it’s worth 425 000. so if you want to learn to buy a house with

someone else’s money refurb it reFinance it or sell it on and make money then you need my brand new book Flip or Flop about flipping property now if I’d have

flipped this place I’d have made about a hundred thousand pounds so if you want to learn how to do that how to raise joint venture Finance how to find the right property how to

negotiate with the vendor how to actually deal with the builder because for most people that ends up being a nightmare you need this book Flip or Flop so click the link below and grab a copy of my free book now so it’s been about 18 months since I did this project and me and my kids have

absolutely loved living here we’ve loved Summer’s here we’ve loved Winters here and Christmas is here and it just shows the difference but we wouldn’t have been able to do this without all the knowledge and education from property so my top tip if you’re wanting to do

anything like this get educated get the knowledge and then you can literally it’s like cut and repeat cut and repeat once you learn it once it’s easy and that’s how I’ve built my Portfolio hope you’ve been watching today’s episode if you

haven’t already subscribe to the channel like the CashNews.co and leave me a comment would you love to do one of these or have you done your own homes under the hammer me and my family have loved living in our perfect home that we’ve done from scratch picking everything imagine that and

I’ll see you next time on property investing with Abby foreign