What is an assisted Sale? | DON'T BUY, Refurbish, Refinance

[@Julian-mc2lk]

Definitely would like to see more Assisted Sales!

[@JamieYork]

Noted Josh!

[@thenewmayorofcrazytown7392]

Definitely

[@Julian-mc2lk]

Thanks Jamie. The most draughting part for me is how will I be able to make the refurb good enough to up the value and will it be within budget.

[@JamieYork]

This is the most difficult part for any investor!

[@tatumcollin5128]

Dont know if you guys cares but if you are stoned like me during the covid times you can stream all the latest series on InstaFlixxer. Been watching with my gf recently =)

[@shaunrosier5956]

This strategy could be just right for me as I run a construction company but don’t have access to sufficient funds to buy and flip just yet. Great videos Jamie! love the no nonsense straight talking!

[@JamieYork]

It is a great way to build up capital

[@johncrowley624]

Wow never really thought about this strategy. Thanks Jamie!

[@JamieYork]

You’re welcome :)

[@charelW]

Excellent explanation and touching on the legal side (legal background here), very good.

[@JamieYork]

Appreciate the comment!

[@Daniel_S579]

Always wondered about ‘Assisted Refurbs’. Made that name up, but basically it’s the same as Assisted Sales, except the homeowner goes back into the house and remortgages based on the DUV. Limited no. of specific situations it would work, but another avenue I’m considering exploring.

[@JamieYork]

Glad you found it helpful :)

[@richardwills-woodward5340]

I have been working with Chinese (the non-CCP loving types) for 13 years prior to Covid. I have contacts that want to enter the BTL market (and I am re-entering). I did BTL's when I was 19 but crashed due to 100% mortgages and over-leverage and the 80% rule that saw foreclosures - I was too young, naive, greedy and stupid. I have been watching your channel, and was not aware of assisted sales, but the rest is of course interesting. I am thinking of an angle to make contact. I also have a partner in interiors who has a business partner and they wish to purchase BTL's in their company name for ring-fencing reasons but don't know the best route. I have build team where necessary. Lots to get my teeth into and am wondering if your company may assist. Anyway, great viewing so far and well done on everything you've achieved to date. Fantastic stuff!

[@JamieYork]

Yeah this is something I could help you with. Visit www.aspirepropertygroup.co.uk and fill in your details :)

[@rachelyvonneblythe]

Some really interesting investment ideas to consider here. I've got 3 vanilla BTL'S and thinking about #4, but since coming across your channel a couple of weeks ago, it's really got me thinking. Fab, easy to digest content. I'm enjoying going back through your playlist. Thank you.

[@JamieYork]

Love it :) thanks Rachel

[@milesfish202]

Hi Jamie. FYI, most owners can’t give a charge as it is a regulated mortgage contract, illegal and unenforceable. I act for a number of investors that do assisted sales. I’d be happy to give you some advice on this. I love your videos. Warmest. Miles Fish (solicitor).

[@JamieYork]

Awesome thanks Miles :)

[@itsasmiththing4749]

Morning Miles. I’d love to have a chat with you about this if the offer still stands?

[@michelvne]

This was amazing coming across this video because I was thinking about getting into flipping but I don’t have that much knowledge when it comes to property and this was exactly what I needed to see. There’s so many options to go about it that I never considered! Once I’ve done my property mark courses I will definitely sign up for your course because it seems like you know all the tricks for getting into property.

[@JamieYork]

Glad you enjoyed it! Looking forward to working with you soon :)

[@imjustnav]

This is an amazing video Jamie, been learning lots from watching your videos!

[@JamieYork]

Glad you like them!

[@bigphant]

Hi Jamie, I've been waiting for you to do a video on this strategy. It was something I thought about but didn't know if it was a thing until I read a book that highlighted that it was possible but I wanted to see and hear it from your prospective as you give so much value on this channel. I would love to see more on this strategy. Many thanks

[@JamieYork]

Great, I'll look to do more videos about assisted sales :)

[@howardswayconstruction]

Do more on this please 🙏🏼🙏🏼

[@JamieYork]

I'll make a note!

[@imjustnav]

Can you please expand a little more on the legal side of things? How can I know for sure that the vendor won't do me over after I have invested so much money into the refurb? You touched on this briefly but I think this is probably the most important element of the whole deal. PLEASE do another video explaining the legal side of things and logistically how it'd work? Thank you!

[@JamieYork]

I'll defo do another video! They do sign a legal agreement before you do anything

[@imjustnav]

@@JamieYork Still waiting for this video Jamie! 😆

[@petinathomas6096]

More on this please

[@nottsspur5903]

Jamie - loving this channel - just looking to start up in property development and your videos are great

[@JamieYork]

Awesome! Thank you!

[@robbiegray958]

Great content - opened my eyes to assisted sales in my local area potentially in the future!

[@JamieYork]

Glad it was helpful!

[@jasonbaxter3658]

I've been staring at a house I wanted to turn to a BTL but the property is un-mortgageable due to a leaking roof. I don't want to take on a bridging loan and run out of money repairing the roof, but I easily have enough money to replace the roof. I have proposed an assisted sale. Am hoping to spend 30 and get close to 60 back just like in this example! Thanks for the idea.

[@JamieYork]

Niceeeee. Love it!

[@declanmccafferty8136]

Brilliant, would be great to see more case studies👍

[@JamieYork]

I'll get some done :)

[@topgunjon]

Very interesting. I presume the charge on any property is completed through the solicitors

[@JamieYork]

Yes :) they will Sign an agreement before

[@ferencmakra1764]

Hi Jaime Would you mind telling a little bit more about that charge/loan you set when you do an AS please. How do you structure and what documents do need to have in place? Thanks

[@RyEvns]

all makes perfect sense, and is WELL within my reach as i am a builder. the only point that i struggle with (which may be a good idea for a video) is; how do you market yourself to the estate agents and vendors? and i guess another point that ties in with that is; raising the refurb money... is it a loan? if so is it business or a personal loan? i want to end with just saying great content as always! the process of the refurb is 2nd nature to me, but i am struggling to fit together the missing pieces ---> getting to the point of refurb :D

[@JamieYork]

Great suggestion for a video! Thanks for the feedback! With estate agents is all about building a relationship with them, keep them keen and incentivise them. With Vendors it is always about making it win win. They get more money and so do you! You can look at a bridging loan or investor funds (if you have investor funds) but make sure to add the COST OF FINANCE to your costs :) Hope this helps Ryan!

[@RyEvns]

@@JamieYork aren't bridging loans secured against property? how would that work if you don't own the house you are renovating? thank you so much for your reply!

[@blacklivesmatter4221]

Nice video! But I don't understand why you have put different figures in your 'July 19 2021' video which includes this exact same deal? The figures and ROCE/ROI are totally different? Thanks.

[@JamieYork]

I have a feeling I messed up one of the figures in that case. Oops! Although, I thought I’d only done one assisted sale video on the channel before

[@S.wilson911]

Great idea but this must be really difficult at the moment because people are paying market value for property’s that needs a refurb.

[@JamieYork]

Yes it is. But people are wanting to move out of cities and into other places and they want properties which are fully renovated. There are deals there just need to find them :)

[@XyzTorres]

Just come across your channel, this is class mate appreciate the knowledge being dropped. Would definitely love to know more about the details of legal/contracts and how you would structure these deals maybe! Cheers mate

[@JamieYork]

Thanks Richard for your kind words! :) I'll note down what you've said!

[@LionsssX]

soon as i have 30 to 35k im going go do your strategy thankyou so much

[@JamieYork]

Great :)

[@keirdoubas]

Interesting video, thanks for creating it. Would definitely like to see you dive ever further with this topic. Question: Do assisted sales only work if the property is unencumbered? If the vendor has a mortgage and lender 1st charge, doesn't the lender have to allow a 2nd charge and UN1 restriction on the property? Alot of lenders won't allow this, how do you get around it? Thanks

[@Kilex6522]

Loving your videos. How would you persuade the vendor to go down the Assisted Sales route, as apposed to the normal route? Thanks

[@michaeldennison351]

Jamie another valuable video. Thanks for sharing your knowledge. With the assisted sale what legal paperwork do you need and would it be from a solicitor. Thanks

[@JamieYork]

Yes you would need an agreement set up by a solicitor

[@isaacffrancis]

Great video mate, quick one, when you talk about finance fees what exactly do you mean? What are you financing?

[@JamieYork]

Financing fees are the cost of getting capital. So if I need £50K I might have to pay a 10% fee so the finance fee would be £5K. This is more for Bridging loans or investor loans :)

[@02lucasferreira]

Hi ... I am wondering if as a developer we can finance assisted sale and if would that work for commercial properties as well ?

[@dannyorourke2864]

In this situation / Example with the more old school, mature vendor, would there be any capital gains tax?

[@andriusgailius1121]

I would like more content about Assisted Sales. Do you have available training for this?

[@JamieYork]

Not right now but I will do some more videos about this

[@vonnieyang745]

Hi Jamie, I have watched your video for a while. Thank you for share a lot of useful knowledge. My husband and I have just done our first flipping project and then we're buying a self-occupied flat with our profits. I really want to do Flipping again, but we don't have the funds to buy another house right now, and what you are talking about in this video is exactly what I want to do now. I have an investor willing to invest in 25K, but I want to learn more about this strategy to make sure I don’t go wrong. Looking forward to your next video on this topic! In addition, may I ask does this strategy requires payment of stamp duty and capital gains tax when signing a contract with the homeowner? And are there any other tax expenses? Thank you!

[@declanmccafferty8136]

How would an assisted sale work if there is any outstanding mortgages, arrears on the property?

[@JamieYork]

Depends on the amount they have left but we would pay off their mortgage will the sale and we would take our investment from the profit

[@declanmccafferty8136]

@@JamieYork thank you for the feedback much appreciated 🙏🏻

[@ianh9871]

No second property stamp duty is a biggy, £8K saved on average house price

[@JamieYork]

Now we're talking!

[@keiranleeder8612]

Great video Jamie, do many solicitors understand how to set up the contracts for this type of deal? Or are there specialist legal teams for this?

[@JamieYork]

There are specialist legal teams who know this but sometimes you need to educate your current solicitor and explain what you're doing!

[@allenko]

There’s loads to expand on here Jamie

[@JamieYork]

Indeed there is. Thought I’d test it to see if people love it or not! Seems they do so I’ll put together some more content around this 💪

[@PinnicleRecords]

Great video, would really appreciate you making a video talking about how to build a great refurb team which would also tie in to a lot of strategies you discuss

[@JamieYork]

Great suggestion

[@PinnicleRecords]

@@JamieYork Just to add on to the above, you’re definitely differentiating yourself from other property creators through the quality and straightforwardness of the information you provide, you could also test talking about what happens before/after you’ve decided to flip/assisted sale/BRR which is something I personally have never seen other creators do. For instance topics such as: How to price up the cost of a refurb (using an example and going into specifics such as typical costs of a new kitchen, bathroom, painting the who house etc) How to find suppliers (best prices and quality) How to find great tradespeople (how to evaluate how good they are at what they do, keep them on schedule, protect yourself from going over budget/losing money if someone bails on the job) And any systems/processes you’ve got in place. So for instance if you’ve got certain documents/workflows in place to make things run smoothly after purchasing a property through the refurb and through to the sale Just a few ideas!

[@MrJambo4life]

As always , great content , as a Uk expat living in the Middle East I am looking for investment opportunities, can you assist . .? Kind regards. Andy.

[@JamieYork]

Yes I have a website www.aspirepropertygroup.co.uk :)