#AskShafLive

Brrrr strategy :The first of the videos in response to requests on #askshaflive. Special focus on BMV ( Below Market Value ) and BRR ( Buy Refurbish Rent). We look at how to source BMV property using a property agent. How to refurbish a property. How to manage the refurbishment. How to find a tenant with good covenant strength. Finally how to exit the property for a profit. (in our case we haven't yet due to Covid-19) We finally explore our options including making it into a retrospective brrr deal.
3:45 What is covenant strength?
4:04 Definition and example of covenant strength.
5:40 One of my personal property strategies.
6:10 Explanation and example of vacant possession value and investment value using my company E-net computers
8:55 Example of a Chartered surveyor offering a deal as a property sourcer or introducer.
9:40 How we use retained agents to advise us.
12:35 How using cash or proof of funds assists in buying BMV property.
14:25 How we Pivoted from Plan A to Plan B
16:00 My test for doing business with a Startup company
25:15 Our process for doing the refurbishment
25:30 Interview explaining the refurbishment process.
40:00 How I treat my property company like a trading company.
40:50 Removing the tenants break to increase the investment value of the building.
Link for brochure for Napier Square.
rydencrm.agenc...

[@yb8904]

What a golden video, 40 minutes. I cant believe this knowledge is being dropped for free. Wont find this elsewhere with other property investors on youtube. You will only find little clips they have recycled from elsewhere. It is very difficult to find original content on this from experiences people on KZbin.

[@ShafRasulWealth]

Commando Vermelho Thank you that's because I'm not trying to sell a book or a course.So I'm happy to share all the info rather than little snippets

[@ShafRasulWealth]

3:45 What is covenant strength? 4:04 Definition and example of covenant strength. 5:40 One of my personal property strategies. 6:10 Explanation and example of vacant possession value and investment value using my company E-net computers 8:55 Example of a Chartered surveyor offering a deal as a property sourcer or introducer. 9:40 How we use retained agents to advise us. 12:35 How using cash or proof of funds assists in buying BMV property. 14:25 How we Pivoted from Plan A to Plan B 16:00 My test for doing business with a Startup company 25:15 Our process for doing the refurbishment 25:30 Interview explaining the refurbishment process. 40:00 How I treat my property company like a trading company. 40:50 Removing the tenants break to increase the investment value of the building. Link for brochure for Napier Square. rydencrm.agencypilot.com/crm/store/documents/other/2887_17o1ecyp4qh05kq7.pdf

[@retrogamer8643]

Shaf another great video, you have a real talent at teaching this stuff. You have personal experience (which is super interesting) and you have a friendly personality. Plus, you go out of your way to engage with the audience and answer questions. Bravo, you are the man.

[@ShafRasulWealth]

I appreciate the feedback!

[@markkeane153]

Fantastic case study in this week's #AskShafLive, useful to learn more about what you do and how you do it. Great to hear from Kenny and the work of Torridon as well as how your property addresses the needs of Ron's Window Supply Company.

[@ShafRasulWealth]

Glad you enjoyed it!

[@markkeane153]

Shaf Rasul Thank you, enjoying your interview with Chris Dawson from Tamebay!

[@joe_7726]

A fascinating video and so much useful detail. Thanks Shaf.

[@mikesmith3360]

Thanks Shaf, you are increasing my knowledge ten fold and best of all its free. Your putting all these FURU's to shame.....Brilliant!

[@ShafRasulWealth]

Great to hear!

[@lorrainemansfield8830]

Like the new format, i was just thinking after just watching Ben how enjoyable the viewers experience is when we can see the actual buildings and people.

[@ShafRasulWealth]

Lorraine Mansfield Thanks-for your continued support. Its very much appreciated,

[@razwanali9662]

Excellent case study Shaf! You were very astute to buy at the right price and follow the advice of your expert team.

[@ShafRasulWealth]

Glad it was helpful!

[@pauldixon3677]

Great video Shaf. Kept it simple and jargon free, thank you. I am looking for a project like this but smaller and you have given me lots of free advice and insight with the process. Pleased I subscribed during the lockdown.

[@yvettetam6871]

Thank you Shaf as always very informative

[@TurboShandy98754]

Thanks Shaf! Invaluable advice, having a case study to follow makes it a lot easier to understand the process involved 😀

[@ShafRasulWealth]

Glad it was helpful!

[@TurboShandy98754]

@@ShafRasulWealth it most certainly was! I'll look to use Torridon in the future. Thank you for taking the time to make the video Shaf

[@manidoad9373]

Great video shaf. Nice detail there. Thank you.

[@ShafRasulWealth]

Glad you enjoyed it

[@rossradford7906]

Best channel on KZbin by far! Your content is amazing thanks for it

[@ShafRasulWealth]

Wow, thanks!

[@Pumaroman]

#Probably the best commercial property process I have seen or been to bar none. Best of all it was free. Thanks once again Shaf.

[@ShafRasulWealth]

Pumaroman Thank you for watching and feedback 😉 It's appreciated.

[@yb8904]

Hi Shaf, could you also do a seperate video for BRRR on residential property?

[@ShafRasulWealth]

Commando Vermelho I have one in the pipeline. I'm back at work now so im struggling to do too many videos . But i have some good footage from a residential BRR deal we did a couple of years ago. I will get that edited as soon as i get time and upload it.

[@JinnoMasters]

#AskShaf There are the questions for the next Q&A: 1) How does the Buy To Let mortgage works with the new Limited Company? I mean, it's pretty obvious that such a company have no history whatsoever. So does bank consider the potential income from rent or does it take into account the financial situation of a director/directors of the company? If so, is there a personal guarantee required? 2) How would you check the potential tenants if you were letting a residential property? I am guessing that checking their credit report, bank statements and asking for a reference from previous landlords is a good start, but do you have any other ways in mind? 3) I understand that in Scotland Home Report is required when someone intends to sell the property. The bank would consider lending the money up to the amount shown in this report. When I was looking in Zoopla and Rightmove into the property offers, I had noticed that some of them have in the description the value from Home Report. But they are listed below this value. Does this mean that the property is already discounted and could be refinanced straight away after purchase?

[@DavidSmith-hj1eq]

Hi Shaf Many thanks for this educational knowledge into the world of commercial property from a professional like yourself. I have been investing in residential property for many years but never considered the commercial stuff.... My next venture will be just that.

[@ShafRasulWealth]

My pleasure

[@GavinPereiraLondon]

Thank you Shaf for explaining all the lingo and sharing your experience. Commercial covenants in commercial property are a big deal - thinking about how Travelodge is taking all their landlords for a spin due to the fear or Travelodge pulling out. Shaf can you please cover this question next time (if you can) on why the commercial landlords accepted the CVA from Travel Lodge is it because they would never find better tenants thus the value of their hotels dropping? (just as you explained in this video). Many thanks, loving your content.

[@ShafRasulWealth]

Gavin Pereira Your question has been answered in this video kzbin.info/www/bejne/a4WQZoKrgtF4Y6M

[@jahangiramjed7100]

Great video im learning so much from you...

[@ShafRasulWealth]

Glad to help

[@jahangiramjed7100]

What does full repairing and insuring lease mean

[@ShafRasulWealth]

Jahangir Amjed www.herrington-carmichael.com/full-repairing-and-insuring-lease/

[@RR-jj1ee]

Thanks for another valued added video Shaf :-) p.s. who won the bid to have you work with them for a day and what did you do?

[@ShafRasulWealth]

Window supply company won the auction. I made a LinkedIn Video about my day. let me find it I'll post a link.

[@RR-jj1ee]

@@ShafRasulWealth thanks 😊

[@cancer2361964]

Is Scottish property rules different to English property laws. Have you brought in England

[@damiansocko4908]

#AskShafLive I have a two questions. You had mentioned in one of your recent videos a Project Manager. Could you elaborate on this? What is he responsible for? Is he expensive? Where to find one? Is it worth consideration? And the second question is: Would it be a good idea to use an estate agent when looking for the first Buy To Let? I am assuming that they will know better then me, which areas are good for rent, the potential amount I would be able to charge and possibly also help with price negotiation. What are you thoughts?

[@Splain]

Thank you Shaf for this amazing value! Also can't wait for tomorrow's Q and A about selling online.

[@ShafRasulWealth]

Fantastic!

[@dainteej]

What if you don’t have the luxury of getting a retained agent how else can you get this type of expert opinion? As a starter investor

[@Flava14]

Hello Shaf, hope all is well during these times, do you use LLP or LTD to purchase these properties and what's the main reason why you use that particular business structure Thanks in advance

[@ShafRasulWealth]

I will be doing a detailed video about buying property in companies / holding companies / personally etc. Might take me a few weeks as I’m back at work now and don’t have much time to do yooutube. Next #askshaflive special will be about buying businesses and property from liquidators. That should be in a couple of weeks time

[@Flava14]

No problem and thank you for your videos

[@rclifford3670]

Hi Shaf, thank you for doing these videos! Its greatly appreciated. I have a few residential BTL properties in Glasgow and have been buying, renovating and selling my own residence every year or 2. I am looking to dip my toe in to commercial and was hoping you might be able to explain how covenant strength is calculated? What are you looking for from the tenant and lease to increase the strength?

[@ShafRasulWealth]

Rob Clifford I have answered a similar question in this video kzbin.info/www/bejne/a4WQZoKrgtF4Y6M

[@rclifford3670]

@@ShafRasulWealth Hi Shaf, I was watching the latest episode when you sent that message! Perfectly answered. Did you do an AskShafLive 12? I have watched the rest but can't find 12 anywhere! Cheers Rob

[@petebola2573]

Great video, Shaf. I have two questions: 1) Am not sure why a "blue-chip" tenant would improve the selling price of the building. I get it that they are less at risk of not paying the rent and therefore the landlord can get better loan terms against the building, but at the end of the day they like a start-up company have only committed to pay the same rent over the tenancy. Shouldn't the maximum value of the building be the sum of the expected capital appreciation of the building and the discounted cash-flow of the committed rent? 2) If typically a blue-chip incoming tenant increases the sale price / value of the building during their tenancy wouldn't this encourage them to seek very favourable (even outrageous) terms from the landlord - e.g., rent rebates, rent free period, landlord contributing to moving-in / fit-out costs, etc? Essentially, the landlord could be financially worse-off with a blue-chip tenant unless the plan is to sell during the occupied tenancy. Have I misunderstood?

[@ShafRasulWealth]

Pete Bola Thank you for watching 😉 have a read of this www.bridgingandcommercialdistributor.co.uk/article-desc-1228_de-villiers-covenant-strength-explained#.XvhnAihKiUk it will address the points you mentioned.

[@petebola2573]

@@ShafRasulWealth Shaf, can you have a look at the link you sent? It doesn't seem to be working. Thx.

[@ShafRasulWealth]

@@petebola2573 it works when i click it.

[@JinnoMasters]

@@ShafRasulWealth Confirm - it works for me too ;)

[@petebola2573]

@@ShafRasulWealth Okay, thanks Shaf. Must be a problem at my end.

[@joannesmith1175]

How do you find a tenant before the renovations before complete? Don't you have to show photos of the place when advertising to find tenants

[@carlfielding2082]

Quality Video Shaf 👍

[@ShafRasulWealth]

Glad you like it

[@tosintalabi3272]

Lots of contents in this video! Commercial valuations, Negotiations, Exit strategy pivots etc. This is charity work for property investors. We appreciate you! The increasing number of Property Trainers need to learn from you. If you ever need help behind the scenes with house keeping and administrations associated with these videos, please reach out. I am offering my services. It’s the least I can do for your great efforts. We all need to give back somehow for the corporate benefit of the Property community.

[@gswiftgs23]

Social Housing so to deliver ? Unit cost , flat ,2bed ,3bed A 3 bed for £60-70 k nicely done ? Flat for £35k ? How do I get my hands on some of that government funding need to start small maybe 6 but overall with my knowledge and xp , could deliver better than any ,how do I know , because ive worked for councils to £9m homes :-)

[@Greatermans]

Wow,thank you Shaf. 5 star +++++

[@ShafRasulWealth]

Tendai Thank Thank you for watching and feedback 😉 It's appreciated.

[@lorrainemansfield8830]

Hi Shaf, i watch lots of different videos on ytube not just property stuff, with all the covid restrictions i really missed the sauna and steam room at my local gym. I was thinking of even having one installed in my back yard. My question to you is do you use these facilities and if yes would you consider it a investment in a home. They say if you earn 75k a year you can live very well and any extra doesn't make you happier, what do you splurge on that makes you happy?

[@teamtorridon5937]

Thanks for having me on Shaf, really enjoyed the various projects we worked on with you and looking forward to the next one! If anyone is looking for cost advice on their projects or assistance with project management, you can find our details here: www.torridoncpm.co.uk

[@ShafRasulWealth]

Any time!

[@hamzayusuf9206]

hey shaf can you do a case study on how you started your trading companies and strategies on how you would start one today,for example your first ever trading company - challenges and stategies

[@JinnoMasters]

Hey Shaf, Could you please watch out the volume in the future? During this video your voice is usually much louder compared to other speakers. As a result, I had to control the volume (lower it when you were speaking and higher when the other speakers were on). Not very comfortable, so please look at it in the future.

[@ShafRasulWealth]

Jaś Nowak Thank you for the heads up 👍🏼👍🏼👍🏼 I will do ;)

[@gswiftgs23]

Social housing seems like the new hip word in property ..That would be fitting 400 properties on a plot of land that would usually fit 280 .

[@talk2s5061X]

Great vid, very educational

[@ShafRasulWealth]

Sean Edwards Thank you for watching 😉 and the feedback

[@murdo20]

Hi Shaf, when working out the budget for refurbing commercial buildings for a tenant, how do you come up with a figure? Is it a % of the rent generated from the lease or do you have another formula?

[@ShafRasulWealth]

Murdo Ross Your question has been answered in this video kzbin.info/www/bejne/a4WQZoKrgtF4Y6M

[@cialancampbell6344]

Great vid Shaf whats your advice for a 15 year old whos not sure whether to go to Uni/College, Cheers

[@ShafRasulWealth]

cialan campbell Thank you for watching 😉 the answer is on question 9 of this video kzbin.info/www/bejne/o5u7coGegtFnh5o

[@cialancampbell6344]

@@ShafRasulWealth Cheers, means a lot must of missed it 👍

[@MikesxMB]

so useful thanks Shad!, i’m young but still have a lot to learn, means a lot :))

[@ShafRasulWealth]

Happy to help!

[@CROSSNSHOOT]

The 2 dislikes are from the Samuel Leeds gullible followers. If Samuel is watching and reading the comments maybe he can actually learn something instead of conning desperate people with his over priced courses.

[@jontennantcom]

How does SL courses compare in price with all the other property guru's out there.

[@ShafRasulWealth]

Jonathan Tennant I thought you would know that already bearing in mind the supportive comment you leave in favour of Samuel on the creators of other Samuel Leeds exposed videos. such as this one kzbin.info/www/bejne/gHaYpX6cgpx3aM0

[@Src107]

Dropped a like before watching the video, purely for "money printer go brrr"

[@ShafRasulWealth]

Src107 Thank you for watching 😉 and the like.

[@mp6386]

Shaf a scam I bought something from John pye and been scamed

[@ShafRasulWealth]

M P Thank you for commenting. I am giving 20 people £200 to purchase products from an auction. ( John Pye) they are going to make a video about their experience. if they are a bad company or the experience is it will be apparent in the videos prodduced by the users. Here's the background kzbin.info/www/bejne/nJ_JdJtslM-mhLs