Flipping This House To Make £40,000 Profit (UK Property Investing)

[@naarahamarisproperties6381]

Great Video! Impact damp from guttering issues can take forever to dry naturally. Were you planning to use gas blowers to dry the damp? Then you have the plastering of the entire house, which you'll know has to dry naturally. Assuming these were factored into the overall project timeframe. Given this project is 2 hours from where you are, what measures do you have in place to deal with "builder excuses" on drying times to prevent this impacting your time frame? I know how I tackle this, but interested to know what others are doing?

[@olitonottero7620]

How would you tackle this if I may ask?

[@karenferns6160]

That is a cracking house with not too much needing doing. Be a lovely family home once done. !!! Good luck..

[@jackdavidsmith]

That’s what I’m hoping! Thanks very much 🙏🏼

[@bobnugnug]

@@jackdavidsmith where town the northwest is it,

[@thomassryann8252]

Really good video man, will be watching more on the Channel .

[@mattmalone4702]

Looking forward to seeing the finished work, good video mate 👍

[@MillerDrummer]

How are you getting the refurb cost around £25,000? I would have thought it'd be a lot more considering things like the leak issues.

[@geethagv9391]

Is it post renovation or before ?

[@omarquayum7316]

How can you find good builders and which ones do you use?

[@jackdavidsmith]

Builders came from working with them before - originally through a recommendation. I’ve done a video on how to find a good builder 👍🏽

[@Avpropertysourcing]

Great video Jack🎉🤩🥳

[@jackdavidsmith]

Thanks! 💪🏼

[@khaledalwan8519]

First comment on You tube ever, but that looks like Japanese knotweed right in the middle of the concrete "garden"? does that not effect your ability to buy/sell and get a mortgage?

[@djwattsydarlo]

40k profit, after tax will be about 25k. How come all these property investors never mention tax?

[@jackdavidsmith]

Funnily enough I’ve done videos on this before and am releasing an entire training module on tax with my accountant that you can access for free. It would be impossible to always cover every last detail in every single video… Btw if you would like access the training the link is in the description 🙏🏼

[@aidenbithell5275]

@dj tax commonly isn’t mentioned as can usually put it on a mortgage, there’s not tax on acquiring debt. Assuming Jack purchased in a ltd company the corp tax rate is between 19-25% dependant on the profits of the company. Assuming 25% then the profit would still be 30k so very handsome still! Great purchase Jack!

[@jackdavidsmith]

@@aidenbithell5275 the tax would be based on the uplift rather than whether it was financed or not. The reality is, everyone’s tax position is different and so commenting on things like this in sweeping statements on videos like this isn’t helpful. Someone could do this deal and pay £0 tax on it depending on their position. Someone else could pay £18k tax… every situation is different so there’s no point going into detail about it. It’s not a tax video

[@ChrisLivingInYork]

How long does the whole renovation take?

[@gaozhenyu7522]

its more like a full time job than an investment. not passive income

[@johnomahoney4853]

hi mate how many weeks will it take the builders to complete

[@jackdavidsmith]

Expecting 12 weeks. Would usually be 8-10 but it’s quite far from where the team are based so travel times will slow it down a bit

[@whalefridaydigital]

Fire content Jake, I'm a huge fan of your video 🙋‍♂ Out of curiosity, are you currently seeking video editors or a thumbnail designer to enhance your personal brand? May I send you a previous work sample?

[@UnipornFrumm]

the price of the property is affordable,and your cost estimate to fix it is something i can afford,the problem is that i will spend all those money on the deposit...

[@Neddie2k]

Looks like a nice deal.

[@jackdavidsmith]

Hopefully it will be 🙌🏼

[@tamarap1022]

Great video :D

[@jackjuddnuttall]

Where is the post video?

[@MRAPEXPREDATOR1]

What part of the north west was it mate?

[@bhimmlondon488]

Hi jack great video quick question I’ve been trying to figure out for the longest while the large bedroom you said you would have split into two if you where gonna hmo it , how would someone enter one enter each room without have too walk through the room next to it ?

[@christoh6046]

It wasn't big enough to fit a double bed in if he split it don't make sense glad he didn't do that

[@Irfan_M_1]

Whereabouts is this? I’m guessing Blackburn / Preston area?

[@jackdavidsmith]

Neither area but those are great investment spots!👌🏼

[@TVsez]

Bury?

[@philipogbeide615]

where in the North west of england is this ??

[@youtubewatcher8254]

Where and how did you find this deal?

[@jackdavidsmith]

This one was on the market, we managed to negotiate it £20,000 below the asking price

[@youtubewatcher8254]

@@jackdavidsmith I’ve always wondered, when a renovation is complete and a house has been valued at the new price by (I’m guessing the estate agent), how do know the property is going to sell? Has there ever been any occasions where the property doesn’t sell? Or is it a case where typically properties will sell once on the market. This is the only thing I’m not sure of - what if you spend all that time, money etc on the property only for it to not sell due to no interested buyers?

[@jackdavidsmith]

@@youtubewatcher8254 I’ve never failed to sell a property but it does happen when someone only listens to the agents valuation. The best thing to do is see that there is a proven track record of similar properties being sold on that street. Then if you have a contingency and it’s still profitable, I’d say it’s worth going for

[@youtubewatcher8254]

@@jackdavidsmith Thanks for the answer Jack. Just subscribed. When you say “look for a history of similar properties on that street selling”, is there a specific timeframe we should look at? Eg: only similar properties in the street/ area that have sold in the last 5 years, or only the past 12 months, or 1-2 years max. What’s the timeframe we should look at?

[@damewambuiofficial3276]

Do you buy properties in London?

[@cr8875]

Do you usually have a contract with your builders for a flip?

[@jackdavidsmith]

Yes, always

[@skunner0955]

@@jackdavidsmithis it a jct contract?

[@Propertynows]

Property nice

[@CassianLore]

Max Verstappen here with a KZbin channel and flipping properties when he's not doing work for RedBull !

[@rostavwilsonbergshire2126]

north east of England, 170k for a terraced house lol

[@liszaf3976]

Ummm 25,000 I think it will be more!!

[@jackdavidsmith]

Almost finished the project. Update video coming soon 👀