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How to cost your refurb

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Yvonne Emery
Yvonne Emery

Make sure you don't spend too much refurbing your property to rent out. Yvonne Emery explains how to be sure of how much it will cost so you know how to make a sensible offer. 際際滷s that accompanied a webinar, www.YvonneEmeryCoaching.co.uk for full audio.

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The Must-Know strategyFor 2011How to cost your refurbwith Yvonne EmeryProperty Investment Coachwww.YvonneEmeryCoaching.co.uk
Ask your questions and well try to answer as many as possible at the endMake your comments by e-mail afterwards and well respond to themWe will mute the call except for presenters and answer questions sent in using the question boxThe seminar will end at 8.15pm.
Current MarketLow capital growthCash-flow is KingFinancing is difficultSpent our depositsUsing other peoples moneyAttracting Joint Venture Partners.
Benefits of RefurbsSingle Let / Multi-Let / HMOTactile profit that people understandHigh ROCI Return on Capital InvestedPotential for J.V. PartnersWanting 25% off loses the dealNew vsRefurb Clients story.
The true cost of a refurbElectrics andPlumbingHeating and BathroomsBox 2Kitchen / DinerLiving RoomStructure andSize of roomsClearanceBox 1Box 3Tiling andFlooringDecoratingFurnishingBox 4Box 5Box 6
Time Frames1st FixPlumbingElectricsPurchaseProcessPreparationBox 7Box 8Box 9Box 12DecoratingFurnishingBox 10Box 11Letting
The things we forgetFinders sourcing feeLegal fees10% for contingenciesClearance costsBroadbandInsuranceManagement Fees.
Cash-flowin 2 minutes flatSingle let Rent pcm mortgage pcm = 贈Z x 0.8 = 贈NP pcmMulti-Let or HMO No. of rooms x 贈 per room x 52 / 12 = 贈GP pcm Less costs = 贈NP pcmHMO License Approximately 贈80 per room (depends on Council)Costs include: Mortgage; Council Tax; Electric; Gas; Water; Broadband; Insurance; Management charge.
Cutting costs andkeeping the WOW factorKitchen 贈1200 incl. utilitiesBathroom 贈500En-Suite 贈1,500Carpets + flooring 贈800Furnishing 贈3,500Curtains + linen 贈150Advertise weekly rent 贈75.
Why Size Matters3 to 4 bed5 and 6 bedLounges10m2 or 7m2Kitchen cupboardsDouble occupancyKing size, Queen size or doubleBathrooms per person.
ReviewKnow your cash-flow firstKnow your costs each monthKnow your refurb costs using a schedule of worksOffer based on cost of refurbLearn more at the June 4thworkshop.www.YvonneEmeryCoaching.co.uk

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How to cost your refurb

  • 1. The Must-Know strategyFor 2011How to cost your refurbwith Yvonne EmeryProperty Investment Coachwww.YvonneEmeryCoaching.co.uk
  • 2. Ask your questions and well try to answer as many as possible at the endMake your comments by e-mail afterwards and well respond to themWe will mute the call except for presenters and answer questions sent in using the question boxThe seminar will end at 8.15pm.
  • 3. Current MarketLow capital growthCash-flow is KingFinancing is difficultSpent our depositsUsing other peoples moneyAttracting Joint Venture Partners.
  • 4. Benefits of RefurbsSingle Let / Multi-Let / HMOTactile profit that people understandHigh ROCI Return on Capital InvestedPotential for J.V. PartnersWanting 25% off loses the dealNew vsRefurb Clients story.
  • 5. The true cost of a refurbElectrics andPlumbingHeating and BathroomsBox 2Kitchen / DinerLiving RoomStructure andSize of roomsClearanceBox 1Box 3Tiling andFlooringDecoratingFurnishingBox 4Box 5Box 6
  • 6. Time Frames1st FixPlumbingElectricsPurchaseProcessPreparationBox 7Box 8Box 9Box 12DecoratingFurnishingBox 10Box 11Letting
  • 7. The things we forgetFinders sourcing feeLegal fees10% for contingenciesClearance costsBroadbandInsuranceManagement Fees.
  • 8. Cash-flowin 2 minutes flatSingle let Rent pcm mortgage pcm = 贈Z x 0.8 = 贈NP pcmMulti-Let or HMO No. of rooms x 贈 per room x 52 / 12 = 贈GP pcm Less costs = 贈NP pcmHMO License Approximately 贈80 per room (depends on Council)Costs include: Mortgage; Council Tax; Electric; Gas; Water; Broadband; Insurance; Management charge.
  • 9. Cutting costs andkeeping the WOW factorKitchen 贈1200 incl. utilitiesBathroom 贈500En-Suite 贈1,500Carpets + flooring 贈800Furnishing 贈3,500Curtains + linen 贈150Advertise weekly rent 贈75.
  • 10. Why Size Matters3 to 4 bed5 and 6 bedLounges10m2 or 7m2Kitchen cupboardsDouble occupancyKing size, Queen size or doubleBathrooms per person.
  • 11. ReviewKnow your cash-flow firstKnow your costs each monthKnow your refurb costs using a schedule of worksOffer based on cost of refurbLearn more at the June 4thworkshop.www.YvonneEmeryCoaching.co.uk