Refurbishing a Repossession Property & Making £14K Profit in 1 Month | Full Cost Breakdown

[@ProgressiveProperty]

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[@paulomoteso]

Quality stuff Kevin. Extremely insightful.

[@Air51]

Do you factor in landlord insurance; servicing; letting agents; rent guarantee; LNPG subs etc from the monthly rental income?

[@Mr1pompey]

How do you find a trust worthy jv, and hiw do you find someone that is willing to do a jv with you. ??

[@melissagimson1910]

Could you please explain what LNPG means? Very helpful video

[@jinlongli8682]

Really love your videos, very helpful. Would you be able to list out the work schedule and the breakdown costs for all refurb items?

[@ramoncampoi7370]

I’d like to know about taxes on profits and rent. Thanks

[@Smithb83]

As others have said there is some great info in this video, thanks. You do find that the profits are diluted by taxes, fees, unexpected costs along the way though

[@littleghughu1577]

As always very very in depth information. Kevin you are awesome

[@waxler1]

Didn't you take off all the tiles like you show in the video and then put them back on? It's a bit confusing. But regrouting and reglazing seems like the best value option.

[@selfimprovementfromwithin8599]

Outstanding explanation! People like you are highly valuable! Really enjoyed this it’s so easy to understand. Awesome videos 😊😊😊

[@wch4972]

Hello, can a property below £100000 mortgageable? As I heard most banks only lend for house price above around £170000 -180000. Some may lend for these low house prices but the interest rate will be much higher.

[@a320trevor]

Excellent content presented with human decency and ethical standards which make you an excellent ambassador for your profession. 🎯

[@ChrisLivingInYork]

Kevin, fantastic idea about buying the kitchen using LNPG. Could you tell me the overall price difference between buying retail compared to buying through LNPG.

[@MrWilfredBramble]

Great points - especially about finishing the project to an appropriate standard for the area and likely tenant.

[@ivanlerich3689]

Do I have to go through the estates agency for renting my buy to let property ? Could I rent it directly to friends? Thanks for the inspired vids

[@edpartridge1759]

Hi Kevin, great informative video. How are you managing to get it revalued and mortguaged higher after only owning it a month or two. Cheers

[@kevinmcdonnellwealth]

You can refinance straight away within a LTD company, no 6 month rule

[@CrazyState1]

I would love to know more about the contractual/payment side of these deals. Who owns the property, how does the JV get paid etc. Does the rent go straight to them or run through a company and so on. Love the content

[@kanwalbhatti9083]

what is the discount card mentioned in the video for the kitchen???

[@wer44z]

LNPG

[@lazyyoutuber1806]

how did you get this for £66k :O that's an amazing deal, which area is this is and how do you get these as they usually are sold in less than a day when these deals come out on rightmove or zoopla. Perhaps from an auction? Edit: Also how is your interest repayment/ month so low, at the least i would have thought it would be £300, did you get a fixed rate, i imagine its low due to covid but may increase a lot after lockdown and recovery of the economy

[@justthecat7]

Hi. Been binge watching all these property vids and thinking of jumping in. Could someone possibly explain why they didn't turn it into a multi let - that is, rent out the bedrooms individually, thus increasing the cash flow? What did I miss? Thanks

[@brickers911]

Great final video Kevin

[@shelbz5550]

Hi Kevin, please can you explain what you mean by leaving money in a property?

[@ProgressiveProperty]

Leaving money in the property means leaving a certain amount of equity in the property. For example, if a property is worth £100K and your mortgage is 75% loan to value you’ve left £25K in the property of equity.

[@rougedior999]

how is the stamp duty so low?!!

[@uniquelypositive]

How long are the JV agreements? When can an investor cash out if they want? And who is responsible for the property management costs?

[@joline2730]

The most important thing when investing with others is to draw up a Legal Contract. In that document you decide if or when you pull out and what percentage you would take - which is usually related to what you put in.

[@dazzyboy1000]

Brilliant video

[@hali8580]

Why not HMO??

[@muhammadrehman6395]

Nice tips..thanks.

[@hawzhinothman6062]

Absolutely great informative video

[@nadeems80]

Great video

[@acxezknightnite1377]

Hi Kevin. How did you legal costs and stamp duty come in at under £3k? I make stamp duty alone around that figure (or did you somehow get around the +3% for it not being your main home?). Secondly, the £14k profit after re-valuation is much reduced with 40% (£5.6k) capital gains tax. What is your cut off point for a viable investment, then. Is it a percentage profit or an amount? And how do you avoid the +3% SDLT on the purchase? Thanks, really enjoy your videos, I’m learning a great deal. I have 3 rental properties at the moment but hope to get more, although property is very expensive in my area!

[@kevinmcdonnellwealth]

3% Stamp duty was £1991 Ona. £66367 purchase price. no capital gains tax as I’m keeping the property. CGT is only payable when you sell and only if purchased in personal name. This is purchase within a LTD company so even if I sold it would be corporation tax. Plus CGT is not 40%, it’s 28% so a lot of what you said above is incorrect.

[@notaflicker]

Love this video

[@uddhavdas8248]

Very helpful videos

[@slomofs]

Where do you find someone willing to JV with you?

[@keananriby8716]

Great stuff Kevin - what do you have in place to prevent the JV partner selling the property before you are able to take half the equity and cash flow?

[@keananriby8716]

I don’t get it? Is there a joke here or something

[@AM-lr2ed]

Keanan - it's usually bought under an SPV where you and the JV partner have equal shares

[@kevinmcdonnellwealth]

It’s purchased within a ltd company with a shareholders agreement

[@wch4972]

good video

[@nikkion2140]

It is not possible to do all that for aprrox £15K!

[@joline2730]

Nikki On: Oh yes it is !! The property is not in London, I believe anyway. My present refurb, and I have done more than this one, is coming in at around £11k. Shop wisely! As Kevin says, a lot of people go way over the top, did you notice he didn't change the bath? That room was mostly just tidied up. Listen to what he is saying ...

[@loawofattraction__2526...____]

I'm sorry to say this but how have you only made £14k profit when there were two opportunities to add value 1.) buying from motivated seller 2.)refurbishing the property Love the channel though

[@mrdbooks7285]

Get Anne Houlton in to do the Sell - she is way better than Kevin. People can more relate to Anne than Kevin, Anne is more Homely and Trustworthy.

[@tosdawg]

Brill

[@mrdbooks7285]

Hey Kevin - your advise and your strategies are Great - too bad your Wardrobe and your choice of Barber has more of a personality than what you Have, and that is taking away from what you are saying.

[@susanmiller2806]

people will be kicking themselves in regrets in few weeks if they miss this opportunity of buying and investing in Bitcoin (Cryptocurrency)

[@sandrabaker6922]

Trading crypto currency(Bitcoin) is also a nice way to invest $ 1000 and change your life.

[@florajohn5439]

Bitcoin trading is a very lucrative way of making money online now.

[@emillykelly470]

I've got this little interest in bitcoin maybe I'll give it a try.

[@andymclain2117]

Bitcoin has been around for over 11 years now and have risen

[@RichardLennon-w6b]

Exactly, It's really good keeping an expert with years of experience close. Just like I have Mrs Angela Regina Mende she has made a lot of profits for me.