Always Learning in Property Especially with Blocks of Flats

Always Learning in Property Especially with Blocks of Flats

We have been in property since 1994. Maybe it is senility at a young age…however sometimes we forget and sometimes we simply do not know. We are focusing on blocks of flats as feel there is long term potential. In block of flats there are so many issues to deal with. Separate meters for each flat. Water supply…Fire regs a bit more stepped up than Professional or Social HMOs plus asbestos checks.

More so with blocks you will not even believe all the extra expenses. Just a commercial garbage bin is £400. Add all these expenses and one can easily lose sleep at night. However £37,000 gross rents are a years salary for most. Our plan is to build up a portfolio of one bed flats that we can buy BMV. Refurbish them…tenant and sell on with a yield compression. It will be a process however we have purchased 11 currently and just had another offer accepted on a repossession.  Repos are great as conveyance is expedited. We have seen others build up £10,000,000 portfolios only to blow up due to excessive leverage and mismanagement. This is our goal.