Builders vs Self Managing Property Refurbs | UK Flipping Houses

Should you use builders to manage your refurb projects or should you manage it yourself? It is key to make your property refurbs when flipping houses as efficient as possible but also make the most amount of money as possible. There are a number of things to think about when deciding whether you should use builders or manage refurbs yourself. In this video I address a couple of thoughts around that.
Connect with me on Instagram @jackdavidsmith - / jackdavidsmith
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[@jackdavidsmith]

Drop your comments and suggestions here! Can’t wait to talk to you guys about the progression of this channel 🙌💯

[@pogchamp2420]

I was just looking for a game called Jacksmith and i found you're Chanel lol

[@Jakey20490]

A before and after refurbishment video, perhaps with a cost breakdown, would be great!

[@jackdavidsmith]

Good idea bro!🙏

[@fettywap1738]

Yeah great idea

[@Neddie2k]

I love what you are doing already. 1. Deal Sourcing 2. Finding a builder 3. Negotiating deals 4. How you prepare for a refurb 5. What you do with all the money you make :)

[@Retal01]

Would love to see projects taken through from start to finish in almost a blog style series. Showing the nitty gritty details as you go.

[@louism.4980]

Thank you, Jack. I'm 27 so not that much older than you, but you are an inspiration! I'd like to be hands-on, because unless you can find builders you trust, I'm worried that you will get ripped off/taken advantage of for not being present/actively overseeing the project. For example, I've heard stories of builders slacking off to prolong a project/increase hours spent.

[@surajharji]

Hi Jack, thanks for the upload. Been following your channel for a couple of months now and don't intend on missing any bids! My opinion, your content is already broad and insightful to a range of prospective investors so keep up what you're doing. The Q&A with Nick was really good. I recently spent alot of money on a mentor but I don't regret it one bit. It got rid of alot of anxieties I was holding onto which led to inaction for such a long time. Thanks again buddy.

[@mikemerry6471]

Kindly write me [e-mail]

[@gordonadam7051]

I like the open, honest, likeable lad who’s happy to talk us through his mistakes and his thought process and strategy. Seeing before and after or even time lapse but including breakdowns on true costs is soooo helpful.

[@ljb7572]

I found your channel earlier today, I'm 9 videos in now. Great knowledge, thanks for sharing.

[@jackdavidsmith]

That’s awesome bro! Glad you enjoy them!

[@oliverblackhall]

I understand it's easier for you. And of course I'd let other people do the kitchen, bathroom, electrics and plumbing but id do painting, plastering, little odd jobs and repairs. It would be handy to learn plumbing though.

[@tim867]

Hi Jack, great video. I stumbled across your channel as I’m bored of my 9 to 5 and I’m looking for new opportunities. Now it’s time to binge on all your content and get educated. Keep up the good work 👍🏻

[@user-ls1sl2cw6v]

Jack,you are very motivating person and I just came across your video on KZbin and subscribed to it. I am interested and its a new venture for. Thank you. God bless

[@jackdavidsmith]

Thanks for watching and commenting! Great to hear your feedback. I’m launching some content very soon so keep your eyes peeled 👀

[@samislam3358]

Loving the channel. Really helpful info.. getting through all the vids. Really want to do something similar to yourself so really appreciate these vids.

[@jackdavidsmith]

Hi Sam. I’m glad you like the vids 👍

[@92oollkkaa]

I do definitely watching your videos. About the next videos definitely costs, how you are calculating, what about staging the houses for sale this puts much more value into the house as well

[@LouisPMedia]

Great video again jack. Would be good to hear about your life before getting into property and your transfer from your 9-5 to a property investor.

[@margaretanwana16]

great video Jack, stumbled on your channel and from the part of you i see you appear very well grounded, well done. i enjoy the videos about the business side of real estate. keep up the good job

[@jackdavidsmith]

That’s great! Thanks for the encouragement Margaret!🙏

[@Henry-rp8fw]

Hi Jack, good video. I personally have enjoyed all of your videos, best ones are the ones where you go around showing the property you're dealing with. I'd say you should make a video with your mentor Nick and talk about your views on property, experience etc. Also you could make a Q&A video, videos about different property investing strategies, day in the life video, more collaborations with other property youtubers like you did with Justin Wilkins, I recommend you to look for Matt Brighton or LN Capital (Luigi Newton). But whatever you bring anyway, keep it real and simple as you've been doing so far!

[@jackdavidsmith]

Thanks Henry! Have always valued your support🙌 yes, I like those suggestions! Are there any strategies in particular that you’d like me to go into more detail about?

[@Henry-rp8fw]

@@jackdavidsmith lease option agreement is an interesting strategy, not many people talk about it, to be fair it's hard to get a decent LOA deal but can be very profitable. You can make that if you want 👍🏿

[@pilotstefan1322]

Loving the vids Jack, you're one of my favouite property youtubers! I'm looking at investing in BRRRRR in the next few months. One thing i'm interested in learning more about is sourcing tennants thrrough the estate agents, how long are you usually waiting to find a tennant? Have you any experience in renting out through the local council for those on benefits etc?

[@tomday_td]

I think the videos you make on answering very specific questions such as this one, and videos where you break down costs and real “in the trenches” info; are very valuable mate, so definitely keep em coming 👌🏼

[@jackdavidsmith]

Cheers Tom! Always appreciate your support! Will keep up the topical content! 🙏

[@leekavery]

Hi Jack, we have ~30k saved to upsize, however sales repeatedly fell through leaving us considering new builds. We've just decided to buy a 200k house and flip it, hopefully selling for around 250k. Loving your videos for inspiration! We're nervous as this will be our 1st project and we really don't have much free time outside of work! 😕

[@jackdavidsmith]

Well done for taking action though Lee! You’ll smash it and learn so much from the experience! Keep me updated with your success man!🏘🚀

[@adrismohammed1128]

I discovered your channel today binge watched it. Can’t wait for this 👌

[@jackdavidsmith]

That’s awesome! Hope you find it a helpful video 🙏

[@adrismohammed1128]

@@jackdavidsmith knowing your content it will be !!

[@TheMalcolms7]

Great way to spend your day if you ask me ☺️

[@jackdavidsmith]

🙌

[@MDT_94]

hey up jack great one again! I wouldn't mind seeing more around BRRR strategy, instead of using bridging finance is it worth mortgaging if the house is mortgageable then taking out an advance through the same lender... also investors how to meet them, how to find networking events also been able to attend during the issues we currently have, is there any online networking events etc.. Cheers for the content Jack keep it up!

[@jackdavidsmith]

They are great suggestions! Will definitely write them down and deliver some of this content soon!🙌 Thanks for your ongoing support👌

[@josielee97]

more before and after on flips, filming the process from buying the house to choosing materials etc!

[@diorangus1323]

Great vid again mate, appreciate your honesty.. would love a vid on your strategy in terms of bridging loans and how quickly you tend to expect your properties to sell therefore keeping your costs low etc, top man Jack

[@james3751]

Videos like this are perfect, estimating refurb costs, what to look for on viewings etc. Very educational and the only issue I have with them is that I get jealous of you 😂😂

[@Parliamentarian]

Super interesting video. I’ll be binging the old ones.

[@jackdavidsmith]

🙏

[@ChriisJohnsonTV]

Really liked the thought process behind this👍

[@jackdavidsmith]

Thanks Chris 👍

[@archiewinstonepartridge6499]

Would be interesting to see a day in the life video!

[@jackdavidsmith]

🙏 will do!

[@archiewinstonepartridge6499]

Will keep an eye out for it keep up the great work :)

[@SuccessfulPropertySourcing]

Just started watching your videos. You might have covered this on another video. Arranging agreements with a builder to manage a project i.e. contract, costs, materials etc. Really took alot from your videos about finding deals on Rightmove and privately. Keep up the good work and wish you more success.

[@chrisgray8076]

Hey Jack love the channel (new subscriber)would love to see a video on how to find the right builder for projects and the best areas to buy,flip and rent. Regards Chris.

[@jamesmiddleton8335]

I believe that you should do your first flip yourself just as a form of risk management. On your first flip your collateral on the loan may well be your own home, couple that with the fact that this is the first time you've found a house, it may not be as cheap as you believe it is, the first flip may bring up costs that you didn't account for in your maths, therefore I believe cost saving is incredibly important for your first flip as a risk management measure.

[@MrDA24]

In regards to this video - I also think it depends on the strategy for the property. I personally or with family, can do a lot of the basic diy for a simple flip. New buyers will often want to change a few things within the first couple of years. However if I want to hold the property and rent it out for many years I'd prefer to pay more upfront and get a professional to do it as it will last better for longer.

[@jackdavidsmith]

Yeah man 100%. Like I said it varies from person to person. Hopefully this video gave a couple of things to think about.

[@khajasameermohiuddinmohamm8400]

Good content.Excellent explanation.Thanks

[@govpanessar2131]

Great video! It also falls down to the situation you're in at the time of purchasing the property. The flip I've just bought, got the keys in November in the North. I couldn't lock in a general builder before Christmas and didn't want to wait that long as I have a bridge on it. So I started gutting it out and organising trades to come in. Before I knew it I've ended up project managing it and will end up finishing it a lot sooner that waiting for a general builder. I'm from London and have been driving back and forth whilst working in London too. Its been very very difficult but as they say no risk no reward ✌

[@jackdavidsmith]

That’s so awesome and there is a lot to learn from that! Things don’t always go your way and the ‘easy’ option could’ve been to wait but you’ve just gone for it and come out on top. Well done! Smashed it 👌

[@govpanessar2131]

@@jackdavidsmith definitely learnt so much! The great thing from gutting a place yourself or with help. Is that you find the problems if any, yourself and learn what needs to be fixed. Its been a great experience! 👍

[@jackdavidsmith]

@@govpanessar2131 exactly right and you learn how much things cost and what order things should be done. Very valuable lessons tbh 👌

[@ellissaczak2435]

Cheers mate another great video. You should do a video on how you plan to expand, what properties you prefer to invest in and how you plan to make your business more passive.

[@jackdavidsmith]

Great ideas Ellis 👌 I’ll definitely make a note of these and try and create videos answering these questions

[@jayleak_]

Think I’ve watched every video of yours in the past week... best videos are those that really explain things such as how to find a deal, or the types of property investments and the ROI calculator. Would love a video like a podcast sort of thing where you get your mentor to have a chat and just talk about his experiences. I recently sent you a message on advice on what I should do with my current situation. Basically I have a H2B ISA and I’m not sure whether I can still use that to purchase a house and get into property investment? Great vids mate keep em coming 👌

[@pleasuredesire]

Hi Jack, can you please upload videos showing some basic refurbs. It would be great showing how you start fixing like flooring, the kitchen cabinets especially for a person like me who’s got very tight budget. Just to give an idea. Thank you for uploading your other videos

[@TheMalcolms7]

I'm very keen to hear your thoughts Jack. I have been looking into this also. I have done a few home diy so far. Getting practice for my own buy to let I guess 😅

[@jackdavidsmith]

Well I hope you find the video insightful bro! Thanks for always coming back to the channel! There’s a part of this video definitely for you 🙏

[@TheMalcolms7]

@@jackdavidsmith Awesome. I actually have a video going live today where I have renovated my home office. Had some re-plastering done and then I painted it 🥳

[@joegilsenan3039]

Hi Jack, I'm in the process of doing research to start my first property flip. With respect to builders, it would be great if you could share your experience of of how to source a builder. I'm looking at developing in an area where I don't know any contractors (or have friends) how could I find the right builder in time for the build to start? Great channel, keep posting.

[@carlhammond7679]

I get all the trades in to do the work, but manage the project myself. Keeps up the pace, keeps the costs down. An hour a day is nothing, it would take more time to agree a contract with a builder. Still have plenty of time to find deals etc.

[@jackdavidsmith]

That’s awesome man! I like your style!🙌

[@undisclosedinformation3467]

Time lapse’s of the processes of the house being renovated

[@ryanwollacott1087]

Coming to the end of my first flip and my approach was to self manage it. If I could do it again I would probably use a builder as I have found by managing it myself I have made some costly mistakes and also wasted a lot of time. Definitely learnt loads and will take this into the next one!

[@jackdavidsmith]

That’s awesome though Ryan! Not many people are even willing to take the first step! And now you’ve got experience and a raised self awareness which is priceless 👌

[@jrgetlizzy360]

This makes sense however for someone like me who would have to use the banks money I wouldn’t be able to take 1,2,3 loans out at once to have multiple flips going at once, so yes I could spend the extra time finding deals but I wouldn’t be able to buy them so it’s almost pointless unless I was sourcing deals for other people, just a little point because if we was to spend day 5k getting a builder to manage everything in the saved time we could have been managing it ourselves we could easily make that 5k back by sourcing deals and if your in the position to be doing multiple flips at once you could buy that deal and crack in with multiple at once because that deal will not be there forever! A bit long winded my apologies I’m bad at explaining

[@Tonyaa996]

Hello Jack, Thank you for all the information. Just a quick one - how did you finance your first deal?

[@grahamkemp5469]

Hi Jack, further to your request for video suggestions, how about a video on the hidden costs, such as Council Tax while you're doing the flip, do you insure the property? Utility bills, security etc. Thanks!

[@charliewilliams3916]

Recently subscribed and on video 10 of yours. I'm aiming to finish this year with a BTL and Flip. How do you identify and evaluate good contractors/builders. Would love to learn more or see in a video.

[@Medic.Fitness]

Hi Jack, thank you for your videos, just to give you my feedback for the channel, I think your content is great and is as relevant as it could get for your audience, only improvement I would suggest is to perhaps structure your videos a little more, without sounding rehearsed ofc, but just to keep things very to the point and also maybe adding timestamps to your videos, especially with more lengthier videos, kind of like Ali Abdaal (although he's in a very different niche), but yeah apart from that you're doing an excellent job, I look forward to seeing your channel grow :)

[@josevitoriano3377]

Video about the difference between buy to sell and buy to let in terms of getting a mortgage!!!

[@arturasvaitkus2119]

Hi Jack. I love to see all progress how you choose house. How you do your numbers and your thoughts about that deal. Thank you. Love your videos.

[@wer44z]

do you buy the plaster, tiles etc yourself or leave it to the builders? also do you use independent builders or companies etc

[@korclo]

How about doing a video on going from employed, to doing houses. How you pay yourself, the tax’s ect. I am coming to an end of my renovation and am looking at making about 45k and want to know the best way to give up my job and go doing houses myself. 45k with a bridging loan doesn’t seem enough while living off what’s in the bank.

[@josephgray2748]

I’d like to see a ‘in the life video day to day’ do you also do property as your main source of income or do you have a full time job

[@drkavyashekar]

An initial assessment tutorial. What are the things to look for inorder to asses a house

[@sulekcentrall]

Personally I love watching the videos about property flipping strategy and also updates on expanding your property portfolio. As I live in the north(we’re properties are cheaper) about flipping terraced houses quick (2 up 2down). As in so e areas you can pick them up for around 25k, when be buy these we normally rent these. I know you have not bought a property to rent yet but you could do a vid about percentage yields, on the terraced houses you can normally get around a 13% yield which is great. Once agein an amazing vid, can’t wait to get started when I’m 18 (hopefully😂)

[@sulekcentrall]

It would be good

[@imranrashid2970]

Please make video on every bit of renovation cost wise would be great

[@529hamza]

New subscriber, loving the content👍

[@jackdavidsmith]

That’s awesome man! Glad you like the content 🙏

[@carlhammond7679]

Do you do property as your main job? How do you fill your time in between projects?

[@jackdavidsmith]

I find more deals, connect and network with people, work part time, make KZbin videos, spend time with my wife and friends... I keep myself busy😂

[@joebrennand6142]

Surely you need to sell your house to get your cash out to then buy another flip so isn't it a waste of time looking until you get you cash back off it?

[@jackdavidsmith]

@@joebrennand6142 no because I have investors I work with

[@carlhammond7679]

@@jackdavidsmith How much do your investors take out roughly? An fixed interest rate or profit share? I looked at bridging but it’s just too expensive

[@jackdavidsmith]

@@carlhammond7679 varies from person to person/project to project. Every investor is different with what they want and what they bring to the table

[@tradejournal]

How to find the right deals

[@ahmadhussen1850]

Hi can you please make video for action houses it's cheap to buy ?

[@zpetro7215]

Great videos ...how can I find a good builder's?

[@jacobarrowsmith426]

What would u say are the most important trades to have for developing properties like, plastering and tiling

[@robertjohnston5772]

Hi Jack do you go round and open trade accounts with plumbers, electricians, wood, merchants so you save money and then get your builder to manage the job?

[@defendermods9420]

Hi Jack, the house you just finished what area did you buy it in? I've only just found your channel so I have not watched all content yet. Cheers

[@jackdavidsmith]

Hey bro! It’s in Birmingham 👍 thanks for checking out the channel

[@benjaminalvey7781]

Another great video, I know all jobs are different but would love to know what your willing to pay for the likes of a new kitchen, bathroom, electrical cost for a refurb 🙂

[@jackdavidsmith]

👍 will try and do a video on this at some point

[@dalgill5194]

Depends how big the mirror was.

[@camyeoman4180]

I could find new deals in 40 hiurs but i only have enough money for 1 deal

[@womblestacker7993]

He makes sence

[@kjones780]

Love your videos and how down to earth you are, I'm going to buy my own resi property to develop in 2021 (excitingggg) i'm also working as a plumber and i'm a girl 🤣 people forget some guys aren't practical but a practical girl still isn't really accepted in the workplace.

[@jackdavidsmith]

That’s so exciting! Let me know how it goes!🙌

[@kjones780]

Jack Smith will do, first I need to get through my probation at a new job to get a mortgage but i checked my experian last night and its 985/999, can you share details of the tax implications of buying a property to renovate then sell? That's my goal (after buying somewhere to live,) i'm hoping to get an interest only resi mortgage for cash flow to build a BTL/resale portfolio.

[@imransaidi129]

I would like to see more of them videos were you go to a property and show us the flipping process, also I'm 16 and I have been interested in real estate and when did you firs get a mortgage and was it difficult?

[@jackdavidsmith]

Great suggestions Imran, I’m glad you like the content! Will try and address these in a video 🙏

[@womblestacker7993]

Can I hire him

[@olliemcsharry]

Good video bro

[@jackdavidsmith]

Thanks bro🙌

[@benwilkinson1731]

I’ve Watched all your videos so far, great content! I’m hoping to buy my first property this year, wanting to flip it. By trade I’m a carpenter and my brother has recently re trained as an electrician. We can cover most of the work our selfs as we are handy in DIY, so will only need to get a few contractors in like a plasterer and painter etc..... the biggest issue I’m having is finding a good deal. I don’t have any contacts In real estate / that field, is that essential? It could also be down to the areas I’m looking in for properties? I’ve been looking in the Leicestershire area as that’s where I’m based. Thanks!

[@jackdavidsmith]

Hey Ben! Glad you’re enjoying the content! I would suggest keeping your eyes open on Rightmove and making sure you’re connecting with estate agents! 😊 plenty of deals out there bro

[@elijones5174]

What’s your day job mate?

[@nabazmasifi971]

Hi

[@nabazmasifi971]

Hi jack my question is I bought my first house.100k is my mortgage and got over 100k in my bank so do I need to pay off my mortgage first or buy second house.

[@MrDA24]

I would like to see how you find the property deals

[@jackdavidsmith]

Yes! Awesome🙏

[@womblestacker7993]

👍

[@xxpozorxx]

You should try a podcast

[@jackdavidsmith]

I have thought about this! I'd love to do a podcast when I've got a bit more capacity... What kind of content would you want there? Like a place for my thoughts or would you like specific teaching?

[@xxpozorxx]

@@jackdavidsmith yeah a place for your thoughts, or just general stuff or stories that we might not see in your videos. I thought the video of you interviewing your friends about their place was really entertaining. You could bring people on to talk about their good/bad experiences and how they started etc. Or just mix it up and talk about things going on in life in general. The way you project yourself makes it very easy to listen too, so I think it would be entertaining either way mate.

[@jackdavidsmith]

@@xxpozorxx that’s awesome feedback! Really appreciate it. I’l definitely consider this

[@womblestacker7993]

Got painter in spent hundreds and he was shit ,

[@buffalospud1685]

For the algo

[@Freezedryingmaniac]

Me personally would like to see you have someone with you who has 0 knowledge about property investment and you train him up like for example I would come with you 4-5 hours a day to go thru your daily’s as most people learn better by doing then by sitting at home :) me personally I would prefer to come with you and learn as we go about everything :)

[@jackdavidsmith]

Love that idea man! Will definitely have a think about how I could co ordinate something like this!

[@Freezedryingmaniac]

@@jackdavidsmith I’m up for it as well :) we talked before as well :) I’m based in Lincolnshire but I’m up for it if you have an idea how to go about it :)

[@spw_investing648]

Love the content, more of the same! How old are you btw?

[@jackdavidsmith]

Thanks! Will do then! I’m 24🙏

[@spw_investing648]

Jack Smith cheers for the reply, I’m soon to be 22 and hoping to start my property investment journey & secure my first property next Summer - have learnt endless amounts from your content!

[@jackdavidsmith]

@@spw_investing648 That's awesome! I'm glad my videos have been helpful! Keep me up to date with your investment journey - you'll smash it!🙌

[@spw_investing648]

Jack Smith cheers buddy, I will do! Take care :)