I still have a years worth of your videos to catch up, so this question may be redundant, but do you have any examples of breakdowns of costs/expenses/ profit for property you rent out? I did a very rough calculation that would be typical for property in my area, which looks something like this: Purchase price £100k Associated fees £2k Renovation/updating £10k (not contracted out). £15k deposit. £5k per annum repayment. Total expenditure £32k in year 1. Add to that the annual safety checks for gas, electric, chimney, insurance and accountant £1k along with the time investment and not paying yourself for the renovation work. £33k Income of £7200 per annum (probably not taxed, at least the 1st year but I'm not sure if the initial costs can be offset in future tax years). Assuming the mortgage repayment and income remains constant over 10 years and not including the initial cost, there would be a net profit of £12k less taxes. £12k - 20% leaves £9,600 if there is never a single issue and the rent is paid every month for 10 years. If I had just left the £27k in the bank for 10 year @ 5% ==£44k 3%= £36k 1% =£30k If the house went up by 3% every year for 10 years and required no further work when I sell it, I would get around £135k of which the tax man will want £14k, leaving £21k ,less costs. Total net profit over 10 years of trouble free renting circa £30k. Coincidentally, the same amount I would have earned (at 1%) had I just stuck the money in the bank and put my feet up 😀 I would have to do this 10x and have 10x the headache just to make a living wage. Or the property needs to cost less or the rent has to be a lot higher. Just realised a fairly significant flaw in my calculations. I'm working on a repayment mortgage and so their will be more equity in the house after 10 years of payments 🤔 If my figures and assumptions are somewhere close, I still don't think it's worth it with 1 property and you would need several. Especially to cover periods where rent doesn't get paid for whatever reason, repairs and damages etc. And need to setup a limited company or get taxed at 40% on. Please feel free to point out anything I got wrong.
@jim-wt8xb15 күн бұрын
No idea what the other comment actually stands for. However, I do have to ask, before I start watching anymore. Why are you even bothering with this channel when it's clear from the couple of short video's I've watched so far, that you either definitely don't need to generate income from having a channel or not everything is as it's being portrayed. This has to take up an inordinate amount of time that you could be investing into .....property or family time. I did have a quick look to see if I could contact you to ask these questions, but I figured that if I'm thinking this, then others are too. It's all well and good to say how you're going to be different from all the others, but they all say that. Granted you do actually strike me as genuine and I'm generally a good judge of character, especially when it comes to sniffing out KZbin fakes. So giving up family time, giving up money making time. Giving away all of the secrets to your success (usually a red flag). Usually by now I have already dismissed the channel as another load of BS because when people are already successful and making all of the money they claim to be, the last place you are going to find them is behind a camera making KZbin videos to tell everyone about it. I would struggle with the " I just want to help others" explanation, although that may have some truth to an extent in this case. I can only think of one legitimate reason for you doing this but I'm interested to hear what you have to say about your reasons for wanting to help others follow your success. Thanks.
@RoysPropertyTips15 күн бұрын
Hi Jim. Hope I got your name right 😀 Thank you for taking the time to share your thoughts and ask some important questions. I appreciate and understand where you're coming from-scepticism is healthy, especially on social media platforms where fake news is rife. You're right that running a channel like this does take time and effort, but for me, it's a conscious investment. Sharing my knowledge and experiences isn’t just about helping others (although that's a significant part); it’s also about creating something meaningful that people can relate to. Seeing others succeed, knowing that I may have played a small part, is genuinely rewarding. One of my favourites is seeing how people react and fall in love with the properties I renovate and flip, which they buy to create their new home. My property ventures have provided me with an income, but this channel isn’t about that, it’s about creating a platform for sharing value. That said, I also see this as an opportunity to diversify. Digital content, courses, and other educational tools are part of a growing economy, and this channel allows me to combine my passion for property with the exciting potential of digital entrepreneurship. Regarding giving away "secrets to success," I believe there’s enough opportunity for everyone. Success in property or any business isn’t just about knowledge; it’s about execution, discipline, and the willingness to take the correct action. Most want to but rarely do. What I share is, as you probably know, merely a snippet of what is required. Sharing my knowledge and stories reinforces my commitment to transparency and authenticity. Finally, why do this at all? It’s a combination of passion, challenge, and legacy. I genuinely enjoy teaching and mentoring others, and I see this as a way to contribute to a community of like-minded people. Sure, it’s a time investment, but for me, it’s worth it because it aligns with my values and long-term goals. I hope the above gives you some insight into my motivations and the purpose behind this channel. I appreciate your honesty, and I am grateful for the opportunity to engage with thoughtful viewers like you. If you have any other questions, feel free to reach out-I’m always happy to chat. PS. I have no idea what the other comment relates to other than someone simply tagging onto videos and channels. 😀 Best regards, Roy Derrick
@jim-wt8xb15 күн бұрын
@@RoysPropertyTips Thank you for your in-depth response Roy. I appreciate the time you invested in that. Watching videos on KZbin usually sends you down a rabbit hole and you end up spending way too much time watching instead of doing. I just want to find a reliable source of information, clearly and well presented (not an easy task). I think I may have found that with your channel. I can confidently renovate a property ( normally by myself ) to a high standard without calling in other trades (other than to certify where required). But it has always been for our main home or for relatives and never for the purpose of flipping a property for profit. Looking forward to watching the rest of your videos and gaining more of an insight.
@RoysPropertyTips15 күн бұрын
@jim-wt8xb If you can do all of the work yourself then it's highly likely you're profit margins flipping a property will be higher.
@TheLukeLambert16 күн бұрын
Looking forward to seeing it back on the market with a 40% markup and price out the locals in favour of a lovely HMO with the space of a shoebox.
@RoysPropertyTips16 күн бұрын
Thanks for getting in touch. I love converting houses that need renovation into lovely modern family homes that the local community can benefit from, which is what this will become rather than an HMO. What this space. 👍
@johnyflint175417 күн бұрын
Your talking 150k or more
@RoysPropertyTips16 күн бұрын
Hi. I'll reveal the cost as the project progresses.
@rebeccalindsay579519 күн бұрын
Shocked this doesn't have more views. Feel like I've just found a golden egg of a channel
@RoysPropertyTips18 күн бұрын
@@rebeccalindsay5795 Thank you for such a lovely comment. I’m Delighted you find this helpful. 🙏
@Never2old.19 күн бұрын
Ask them to remove it if they don't, have a garage sale and sell what you can and take a trip to the tip with the rest. I have done it a few times with former residents left behinds.
@RoysPropertyTips19 күн бұрын
That's worth considering to cover the costs
@RoysPropertyTips19 күн бұрын
I agree. Thanks
@southernscotty8620 күн бұрын
Report yes and offer them to remove by a set deadline or you will remove and sell to cover costs if any valuable
@DavidVaughan-zd1cfАй бұрын
How dare you paint over red facing brick. The builders will be turning in their graves. The houses either side have been wrecked but there's no excuse to do the same. Another set of original windows in a skip. Brain dead. It was completely in proportion and you fucked it.
@RoysPropertyTipsАй бұрын
Thank you
@sethkazzim731Ай бұрын
Great watch, really enjoyed this Roy.
@brianparkhurst1019Ай бұрын
I would have called Ashville.
@RoysPropertyTipsАй бұрын
We'll bear that in mind😀👍that in mind. Thanks
@IamClmpy2 ай бұрын
Nice channel, very helpful ! ❤
@RoysPropertyTips2 ай бұрын
Thank you
@nikkion21402 ай бұрын
What make you choose "subdivision into multiple flats e.g 2) vs. adopting HMO scheme?
@RoysPropertyTips2 ай бұрын
Thanks for your message. It would depend on demand. For example, is there demand, for an HMO within the area / location, not forgetting whether the planning department would object to a property being used as an HMO. If so then flats is another option and vise versa. More often than not an HMO would offer a mu ch better return on your investment via higher cash flow than flats.
@gravel712 ай бұрын
Not if we goto war or there is civil war
@lvkasz13372 ай бұрын
We do not care lil bro
@RoysPropertyTips2 ай бұрын
Thanks for your view. Hope you're keeping well
@lvkasz13372 ай бұрын
@RoysPropertyTips "i am so cold" ahh response
@arandmorgan2 ай бұрын
My wages have been inflated away, my job security is being eroded. This is why I can't buy a house. House prices are over inflated by the creation of debt increasing the amount of less valuable currency to pay for it, making it harder and harder for young people to get on the ladder. Our job security has been eroded too, because of the ever changing nature of technology and the high and low employment levels, chasing profits during good times and cutting losses during times of low profit. The jobs available to people with qualifications, which are also inflating beyond affordability and even when these qualifications have been achieved don't guarantee future employment, are becoming less and less valuable as people are forced to take on multi-job employment. In other words the pay is the same, their responsibilities increase. If you were privileged enough to purchase assets when they were fairly priced, you will only increase your wealth. If not you will be eating so much financial shit that you won't have stability in your home, because you will be forced to rent and that property can be taken away from you at a moments notice, you won't be able to get credit, because of your insecurity in pay and employment and you won't be able to afford the high value stocks and shares that actually grow in the market so will be forced to invest in cheaper stocks that have higher risk unless you have some prior knowledge for their success. I'm glad you're having such a great time, but don't tell me what to do because you couldn't last a year in my world.
@JurassicJungle2 ай бұрын
I found the same issue at a property we run as a holiday rental and also at the same property one with a soakaway pipe clogged with small roots. That inspection chamber looks like a sewer pipe, should you really be running your gutters into that? I have no idea how old that property is but does it have permission to run rain water into the sewer from the water company? These sorts of connections can overload the sewer system resulting in water companies releasing huge amounts of raw sewage into the sea when we have heavy rain. Clearly whoever built it cut corners that does not meant you don't have to investigate the correct resolution which is probably to install a proper soakway ( I accept that you have not actually said what you plan to do to fix this issue but please don't just connect it to that manhole).
@RoysPropertyTips2 ай бұрын
Thanks for your message. The manhole and sewer line is approx 110 years old. Thankfully it is what is known as a combined sewer / rainwater drain, meaning we had permission to connect the downpipe into it.
@areyoutryingtosay2 ай бұрын
I'm a UK property investor of over 20 years, I also have various other investments. I have to say this is the worst information I've ever heard. I'm not going to spend half hour explaining why. The only useful piece of information stated in the video was "if you do it properly"
@RoysPropertyTips2 ай бұрын
@@areyoutryingtosay Thanks for your feedback. 👍
@RoysPropertyTips2 ай бұрын
amzn.to/3Zf1Y4B Fix A Floor on Amazon
@RoysPropertyTips2 ай бұрын
Here's a link where you can buy one of these products on amazon amzn.to/4etccCz
@RedArtist023 ай бұрын
What paints please?!
@RoysPropertyTips3 ай бұрын
Thanks for getting in touch. One brand I recommend Johnstone's Trade Paint Range in particular the Aqua and Ecological Acrylic and Covaplus range
@RedArtist023 ай бұрын
@RoysPropertyTips Thanks Roy. Helpful videos 👏
@robgood7193 ай бұрын
Easy fix 😂😂😂joker
@RoysPropertyTips3 ай бұрын
It has become more difficult financially to provide homes for tenants but we found doing so in this way enables us not only to provide more places for people to be able to rent and help home those in need but also to pay the forever increasing costs for doing so. For me being able to help those find somewhere to call their home makes being a landlord worth while
@alexonhigh3 ай бұрын
Those poor tennants, getting absolutely skinned. Another person making renting unaffordable for their own gain.
@Anti-Peaceforce3 ай бұрын
Basic need have become camodaty.
@bee85833 ай бұрын
Great video. Can I just ask do you say that you can apply tanking with a trowel?
@RoysPropertyTips3 ай бұрын
Yes, absolutely 👍
@frankcreswell10073 ай бұрын
We use a Mapei product can be applied with trowel, brush, or roller
@bee85833 ай бұрын
Thank you for your reply and insight. I have subscribed to your channel and look forward to watching your videos.
@RoysPropertyTips3 ай бұрын
Visit my website: www.learnallaboutproperty.co.uk. Subscribe To My KZbin Channel: kzbin.info/door/bN5ayWTLMqpK3lZ2XtbLGQ Watch me on Tik Tok: www.tiktok.com/@royderrick See Me On Facebook: facebook.com/LearnAllAboutProperty
@Tricky1173 ай бұрын
Don't forget to put that rent up every few years and f**k everyone trying to buy a house with your property portfolio
@kevdoran991810 ай бұрын
Good advice, not the usual,babble.
@RoysPropertyTips10 ай бұрын
Thanks Kev. 👍
@exploreyourdreamlife10 ай бұрын
I've learned so much from watching this video. I'm inspired by the authenticity of your video. What are some key factors to consider when contemplating early retirement? As the operator of a dream interpretation channel, I'm eager to enhance the visual storytelling and symbolism in my videos to make them more captivating. I appreciate the valuable insights provided in this video and have liked and subscribed for more enlightening content.
@RoysPropertyTips10 ай бұрын
Thank you. Pleased it helps you.
@milopajic458110 ай бұрын
Does anyone know about the size requirement I keep seeing it has to be a minimum 37sqm? Or is this just for new ?
@RoysPropertyTips10 ай бұрын
It does vary but on average that is a guide. Always a good idea to check with your local planning department.
@mckennahaleigh563711 ай бұрын
Promo'SM
@omarfarooq509211 ай бұрын
liked and subscribed, thank you for the content
@RoysPropertyTips11 ай бұрын
You're very welcome.
@superduper935711 ай бұрын
This is what I am trying to teach my kids. I'm 56 and am retiring in June this year. 1 year later than planned. One thing you could consider for a future video is addressing peoples fears of retirement. ps I agree with the 1st commenter about the music.
@RoysPropertyTips11 ай бұрын
Thank you for your review and suggestion including that with regards to the Music👍
@user-qc5hd1km7m Жыл бұрын
Ditch the background music it’s distracting
@RoysPropertyTips Жыл бұрын
Hi Thanks for your recommendation
@Leadersadapt Жыл бұрын
Hey roy, man I sent you a great message on your Instagram regarding your video, I'm looking forward to your response 💯💯
@RoysPropertyTips Жыл бұрын
I will check it out
@Leadersadapt Жыл бұрын
Well structured video Roy 😉
@RoysPropertyTips Жыл бұрын
Thank you. Appreciate your comment
@MdSohelRanas1 Жыл бұрын
Great video💥❤🙏
@RoysPropertyTips Жыл бұрын
Thank you
@RoysPropertyTips Жыл бұрын
Here's the Link to download my Free Guide - Property Investing For Beginners - payhip.com/b/zfmTu
@RoysPropertyTips Жыл бұрын
Your Free Guide
@RoysPropertyTips Жыл бұрын
Thanks. We managed to get them 👍
@user-kn3wn9pb6e Жыл бұрын
Oh My God😮 Go get em sir 😎
@loulou007eddie2 Жыл бұрын
Stable but old
@RoysPropertyTips Жыл бұрын
Thanks. It is very old and a shame really. But we hope to rebuild it using the same bricks.
@loulou007eddie2 Жыл бұрын
@@RoysPropertyTips good to hear...they don't made bricks as good as they did in the pass...well I should say that is here in Ontario Canada not sure about the Uk.
@RoysPropertyTips Жыл бұрын
That's true. Or if they do they cost a fortune.
@jsharp1776 Жыл бұрын
It is stable.
@RoysPropertyTips Жыл бұрын
In some areas it is but others a little wobbly
@olfatskootch Жыл бұрын
How long has it been here? It ought to be good for that much longer