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Considering a career as a real estate dealer? In the real estate business, “flipping” means purchasing a property at a low price with the intention of increasing its value through repairs and subsequent sale. Maximizing the return on investment means making improvements to the property with minimal outlay of cash. One profitable flip can yield tens of thousands of pounds for many investors. Here are a few suggestions for making money when you flip property.

Set A Budget To Flip Property

One of the worst things about flipping houses is that you need a lot of money right away. This needs to be enough money to cover the deposit on the property and any improvements you want to make. In most cases, you’ll need at least £30,000.

Figure out how much money you can spend if you want to flip property. It’s important not to go over your budget so you don’t have to take out extra loans that could hurt your long-term profits.

Inspect Properties Thoroughly

Before you buy a house to flip, you should always check it out carefully. This will give you a good idea of how much work needs to be done and whether you can afford it. Don’t buy a property without doing your research, or you might end up with more debt than you can handle and be unable to flip property successfully – or at all. 

A lot of people buy homes at auction. A few weeks before the auction, a catalogue is usually sent out. During this time, try to see any properties you might be interested in bidding on. Find out as much as you can about the property and how it is kept.

Shop Around For Loans

Few people can afford to buy a house outright, and this is especially true for first-time investors. Getting a mortgage is the only option.

Investors who want to flip property might apply for specialised private loans. These often need sizable upfront costs (about 20%), but they may also come with benefits like being interest-free for the first 12 months (this allows you to work on improving the property without having to worry about mortgage repayments).

Identify The Biggest Value Boosters

You might want to do a lot of different things to improve the property. Try to concentrate on the changes that will make the most difference (without costing too much in the process).

What are some big ways to boost value? First, you should fix any damage that you can see. Roof repair can often add a lot to the value of a home. Next, think about adding a new bathroom or kitchen if the one you have now is old or worn. This can help increase the value by thousands. Lastly, if the property has a garden, clean it up and give it a fresh coat of paint. Keep the decor simple so that as many people as possible will be interested.

DIY As Much As Possible

You want to spend as little money as possible on making the house better when you flip property. Putting in work is a great way to make sure of this. This means making as many changes as you can on your own so you don’t have to hire contractors.

Some jobs, like electrics, plumbing, and roof repairs, can be dangerous if you don’t know what you’re doing. It’s best to hire a pro for these jobs. But you can save a lot of money by doing things like painting, tiling, landscaping, and laying floors on your own.

It’s important for landlords to know what tenants want. What are tenants looking for in a place to live? What should landlords put first when they buy a property to rent out? What turns away renters?

Some landlords find it hard to figure out exactly what their renters want, and some renters find it hard to find a place that meets their needs. In this article, we talk about the most important things that renters want in a place to live and what landlords can do to make renters more interested.

Good Location

When people are looking for a place to rent, location is very important; it’s a crucial factor in what tenants are looking for. Most people want to live close to their jobs, as well as to shops, restaurants, and public transportation.

Obviously, you can’t move a rental property that you already own. But landlords who want to buy a property to rent out should think about where it is and what kind of tenants would be interested in it.

Tenants don’t want to live too far away from things they might need. Especially if they don’t drive and there aren’t many ways to get around. It’s important to live near a local supermarket, a doctor’s office, a pharmacy, and other shops, and families put a lot of value on being close to a good school.

Tenants care a lot about where a place is, so landlords should be sure to list all the nearby services in the property ad so that tenants looking for something specific know they have found it.

Safety & Security

Everyone who rents a place wants to feel safe there. Most people wouldn’t choose to rent a place in a dangerous area, so location and safety are often linked.

In addition to the number of crimes in the area, renters like to know that the alarms and locks on the windows and doors work. Because of this, it is important for landlords to make sure that the rental property has a security system that works.

Landlords can make their tenants feel safer by putting in CCTV, adding extra locks and a peephole to the front door, and making sure that all safety certificates are in place.

Landlords should also schedule a mid-term inspection to check on their property and make sure everything is safe and working. This also gives the renter a chance to talk about any questions or worries they may have.

Outdoor Space

Many renters like having their own outdoor space, like a patio, balcony, or garden. If those options aren’t possible, tenants, especially those with young children, often want to live near a park.

When tenants have outdoor space, they can enjoy the sun during the warmer months, have outdoor gatherings with family and friends, and have a whole other place to relax. People were stuck in their homes for so long during the pandemic that they realised how important it was to have space outside.

If the house has a garden, updating and improving it can make it more appealing to potential renters. This shows the tenants that the landlord cares about the property and is willing to make changes. It can also raise the value of the house.

People say that a picture is worth a thousand words, which is definitely true when you’re trying to sell your home. What can you do to help your home look its best?

Here are some things you can do to get your house ready for photographs.

Your Kitchen

Clear everything off the kitchen counters and put everything back where it belongs.
Don’t show off your tea towels.
Clean your trash can or hide it.
Put some flowers or a bowl of fruit on a table in your kitchen so it’s ready for photographs.

Your Bathroom

Hide the laundry basket and extra toilet paper.
Show off your best toiletries, or don’t show any at all.
Put the toilet seat down.

Make sure your towels are clean and put away in a neat way ready for photographs.

Your Bedrooms

Make sure your bed is clean and, if possible, use white or plain sheets.
Clean off your nightstands and any other furniture in your bedroom.
Put your clothes and shoes away.
Make sure that you can’t see anything under beds or on top of closets.
Put away the kids’ toys.

Ready For Photographs Through The House

Open the blinds and curtains.
Get your windows clean.
Clean/polish every surface.
Hoover/mop floors.

Outside

If you can, move wheeled trash cans.
Put your car somewhere else.
Clean up the garden. Sweep up any fallen leaves and pull out any weeds.
Cut the grass.
Clean the front door.
Add a splash of colour to either side of your front door with hanging baskets or planters.

The last thing you want is for your house to bring you anything but happiness. Of course, this isn’t always the case. In any case, it’s not likely. You have to be aware of the risks and dangers that are in every part of life. If you know what the dangers are, you’ll be better able to protect your property. In this post, we’ll talk about some of the most common threats to homes and give you advice on how to protect yourself from these property problems.

Other People Can Cause Property Problems

Most people won’t be a threat to your home in any way. But some of them will be. Some places have more crime than others, but you should always keep in mind that it can happen anywhere. Home security systems these days are pretty high tech, which is a good thing. If you have one of these, you’ve done a lot to keep thieves from breaking into your house and solved big property problems. Also, you should make sure your house is completely safe. For instance, are there any obvious holes or weaknesses that a criminal could use?

Mother Nature

Nature could be a threat to your home, depending on where you live. In fact, climate change is causing this to happen more and more often. Nature will do what it does no matter what you do. But you can lower the chances that it will hurt your house. For example, if you live in a place where hurricanes happen, you might want to look for impact windows. If you live in a place where it rains a lot, make sure your roof and gutters are in good shape. Think about where you live and what weather problems are most likely to happen, and make sure your property is as safe as possible.

Pests

Another way that nature can enter your house and cause property problems is via pests. There are certain regions where this occurs more often than others, but it can happen everywhere. Pests aren’t only a nuisance that you’ll have to deal with. They also detract from the overall appearance and feel of your home. People don’t want to feel as if they’re living in a home that’s full of unwanted company. To prevent this issue, you should keep your home clean, and if you suspect that you have pests, you should bring in specialists immediately. They aren’t going anywhere on their own.

Being Out Of Date

Family time at home is all about unwinding, laughing, and creating happy memories. Also, it should be a location where everyone can feel at ease and at peace. It’s a long-term strategy, however. When the time comes to sell your home, you’ll want to receive the most money for it feasible. Allowing your house to become out of date is one of the more subtle ways it may be damaged. By failing to stay up with contemporary building requirements, you may ultimately see a decrease in the value of your home. Keeping track of these matters is critical to prevent property problems.

The tenant fee ban has been in place in England since June 2019, so it’s been a while now, but some people are still not entirely aware of it. The tenant fee ban made it illegal to charge tenants any fees other than the rent they pay, contract renewal or modification fees (no more than £50), default fees (like cutting a new key when the original is lost), a security deposit (no more than five weeks’ rent), and a refundable holding deposit (no more than a week’s rent).

Everything else that could have been charged in the past, such as check-in and check-out fees, administrative fees, inventory fees, and cleaning fees, was taken away.

Referencing After The Tenant Fee Ban

This list of illegal fees also included any fees for checking a tenant’s references, which many landlords and letting agents used to charge tens or even hundreds of pounds for.

Now, landlords and letting agents are the ones who have to pay for a tenant’s references. This usually includes a credit check, which the agent or landlord must now pay for, either on their own or through a referencing agency.

You will also be asked to provide or suggest some of the other references, such as your employer, a previous landlord, your bank, and a guarantor if you’ve never rented before.

Be Prepared

If you’re looking for a place to rent in an area with a lot of competition, it’s best to have these references ready before you start viewings since it can take days or even weeks to find them.

Remember that if a landlord or letting agent takes a holding deposit from you and then asks you for the information they need to do a credit check, but you don’t give them the information they need or take too long, you could lose your holding deposit. This is perfectly valid even under the tenant fee ban.

Holding Deposit

You could also lose some or all of your holding deposit if you don’t pass referencing. For example, if a previous landlord says you broke something or were kicked out for not paying rent, you could lose some or all of your holding deposit.

One important point here. Referencing can be done in either of two ways. Most of the time, the agent or landlord will “put you through referencing,” which means they will pay for it. Or, they may ask you to find your own references and suggest that you use this or that paid service.

This is fine, but it CANNOT be a condition of the lease going forward. So they can’t say, “You can sign the contract once you’ve gone through references with XYZ company.” It has to be up to you.

This also applies to a lot of other things. For example, a letting agent can’t make it a requirement for a tenant to get contents insurance, sign up with a certain energy provider, or use a certain alternative rental deposit service before accepting them as a tenant.

Now that summer is here, many people who don’t have gardens wish they did and want to make the most of their outdoor space. Outside space has become more important to homebuyers in the past two years, whether they live in a city or a rural area.

In the past, we might have seen back yards that were neglected or not used enough. Now, everyone makes the most of every inch of exterior space. Here are some suggestions.

Add Perimeter Seating To Your Outdoor Space

Seating around the edges is the best way to use any outdoor space. A modular sectional is a flexible piece of furniture that can be set up to fit into a corner, making the most of your outdoor living space. For even more options, think about sectionals without arms. The armless modules can be added to a straight-lined sofa to make it longer.

Add Light

Installing outdoor lighting is a good idea for a lot of reasons, but one of them is that it makes your space look bigger. If you want to spend a lot of time outside in the evenings with friends, you should plan for outdoor lighting. Putting lights in your posts, floors, or above can do a lot for the mood, safety, and security of your home. 

Update What’s Underfoot

Brick pavers are the best choice for any size outdoor space because they are strong, last a long time, and are easy to keep clean. Brick pavers can be used to make strong, even surfaces in courtyards, patios, and porches. Pavers can look either old-fashioned or sleek and modern, and they go well with a wide range of building styles.

Make Your Outdoor Space Creative

When it comes to how your deck or patio looks, you can do anything. Depending on where you live and how much money you have, you can pretty much design your outside space however you want. Use ideas from bigger designs that you can make smaller. Look at the design as a whole, the materials, and any other details that you like.

Investing in property is an old method of accumulating money. People have been doing it for hundreds of years, looking for methods to raise their net worth and ensure profits.

Is 2022, however, the right moment to invest in property? This piece examines the present status of the market and what it means for individuals like us. Just because the market is hot doesn’t mean there aren’t any inexpensive houses out there ready to be snapped up.

Invest In Property For A Passive Investment

To get into real estate, you don’t have to go out and start purchasing homes. Passive techniques are becoming more popular as a way to invest in property.

People wishing to get into real estate, for example, are purchasing real estate investment trusts (REITs) to avoid some of the hefty transaction costs associated with traditional real estate acquisitions. Instead of purchasing homes outright, people are putting what they can into shared ownership of baskets of real estate. They can generate a return from property without having to put up large sums of money.

Overseas Investment

Even while the local property market is hot, there are still bargains to be had in other countries. Flats for sale overseas may be offered at a lower price than the market rate in your native country. Remember that the real estate market varies greatly from place to place, even within the same country. You can frequently discover deals in one location that would be tricky to find in another.

More Affordable Homes For You To Invest In Property

People are wanting to rent more cheap houses as a result of today’s inflationary climate. As a result, landlords with lower-priced homes are likely to encounter more demand. Rent competition will most likely drive up the lower end of the market, improving returns.

Investing in this sort of property is thus one option. Furthermore, even if interest rates climb during the remainder of the year, mortgage payments will be less of a problem. You’ll be repaying less on a single home, and rising rentals will likely cover the difference when you invest in property of this type.

The place you rent from a landlord becomes your home. They should only come in without you being there if you’ve given them permission to or if it’s a real emergency. For inspections, repairs, and maintenance, your landlord or letting agent will need to get into the property. By law, they have to give you 24 hours’ written notice. In other words, no, your landlord cannot enter a property without permission.

If you’re new to renting and don’t know what the landlord’s and tenant’s rights and responsibilities are, keep reading for our full guide to landlord access in rented properties.

The Right To Quiet Enjoyment

As a tenant, if you sign an assured shorthold tenancy agreement, you have the right to “quiet enjoyment of your property.” You pay rent to the landlord so that you can use the property as your home. Since it is your home, you have the right to decide who comes in and when. If your landlord comes into your home without your permission, they are technically breaking the law unless they have a court order to do so. They cannot just enter a property because they want to.

Landlords’ Right Of Access To Enter A Property

Still, landlords or letting agents can go into the property to do what the law says they have to do. The Landlord and Tenant Act of 1985 says that your landlord can look at your home as long as they give you at least 24 hours’ notice and come at a reasonable time.

The landlord should send you a letter telling you who will be coming into the property and why. You are not forced to say yes to the visit. But keep in mind that it might be in your best interest to be flexible, so that your landlord can keep the house in good shape and make sure it’s safe and comfortable to live in, and so that you can keep getting along.

Why Your Landlord Might Want To Enter A Property

There are many good reasons why your landlord might want to enter a property:

For regular inspections, your landlord has the right to check the property at regular times to look for damage or problems that could get worse and cost a lot to fix.

For repairs and maintenance, the landlord is responsible if you report a problem or an inspection finds one.

Your landlord is required by law to have a gas safety check done every year.

To have viewings near the end of the tenancy. If you’ve given your landlord notice that you’re leaving, he or she will need to find a new tenant, so it’s a reasonable request that you show people around.

Enter A Property In An Emergency

In a real emergency, your landlord will need to get into your home right away. In this case, they won’t need permission from the tenant to enter a property. Emergencies are rare situations like a fire, flood, the smell of gas, dangerous damage to a building, or the thought that someone has done something violent or illegal.

Changing The Locks

Your right of exclusivity gives you the legal right to change the locks on your rental property. You don’t have to give your landlord a set of keys unless it says in your rental agreement that you do.

Think about whether it would make things easier if you gave your landlord a set of keys in case of an emergency, if you locked yourself out, or if you agreed to inspections and repairs while you were away.

Tenant Refusing Entry

If your landlord asks to enter a property in writing, you can say no if it doesn’t work for you, but try to offer an alternative and come to an agreement. If you keep saying no, it could make you look like you don’t want to help and make the landlord less willing to work with you if you need them to.

Work or other obligations may make it hard for you to give a 24-hour notice. If you don’t want your landlord to come in when you’re not there, suggest a longer notice period that will make things easier, or let them know any regular times that work for you.

Harassment

Most landlords are fair and easy to get along with. If your landlord comes over too often, at odd hours, or without your permission when you’re not there, they may be breaking the law. This is especially true if their actions make you feel pressured. Under the Housing Act of 1988, it is illegal to bother tenants. If you think this is happening to you, talk to a lawyer or call Citizens Advice for help.

Have you ever considered staging your living room? Whether you’re a seller or a landlord, staging your living room can mean the difference between a sale/finding a new tenant, or having to wait. When you stage your living room in the right way, it can show the people looking around how they might live, and what can be done with the room. With that in mind, read on for some useful tips.

A New Suite For Staging Your Living Room

If you have an old, sagging sofa in your living room, it’s going to make it look less desirable than if you have a brand new suite. This is why it’s a good idea not to put off buying your new furniture if that’s something you were intending to do anyway. For one thing, you’ll have more money before your move than after (moving is very expensive), and for another, when you’re staging your living room you want to offer up a good impression.

It’s true that the new owners or tenants aren’t going to be using your furniture (although, when it comes to tenants, the option might be there – even more reason to get a new sofa), and you might think it’s no one’s business what your stuff looks like. That’s true, but it’s also true that you’ll create a more positive subconscious impression when there are nice things around you.

Your Carpeting

How does your carpet look? Is it dark, has a lot of patterns, or both? Would having it cleaned by a pro make it look better, or does it really need to be replaced? If the carpet is dirty, worn, and old, it will look like the house hasn’t been taken care of. If you want to show that the house is well-kept, you might want to spend a few hundred pounds on a new, neutral carpet to make staging your living room easier.

Your Lighting

This can really change how your living room looks. Downlighters and table lamps can make a room feel warm and inviting, while uplighting can add a bit of drama. If you have overhead lighting, it’s usually best to turn it off and use your other lighting options to make the room feel more like home.

Despite the fact that renovations can be messy, disruptive, and stressful, thousands of people embark on this feat every day, and perhaps you want to renovate your property too. This is because, even though the process itself might be an unpleasant or uncomfortable one, the end result is always worth it, and this is what should be kept in mind at all times. 

There are many different reasons why you might choose to renovate your property, and each one will depend on your situation and your preferences. Here are some of the main reasons why people choose to carry out home renovations. Is it time you started thinking about yours? 

Fix A Problem When You Renovate Your Property

No matter whether you live in an old property or a brand new one, sometimes things go wrong, and you will need to deal with that issue. Many of these problems can be solved quickly and easily without the need to have a complete change of décor, but some can cause a tremendous amount of damage which needs to be mended. Plus, you might just think that since you are putting paint on a wall to cover a problem in one area, maybe it’s time you painted elsewhere too. 

The bigger problems that can mean you have to start a renovation project even if you hadn’t intended to include:

• Leaks that a plumber needs to fix
• Roofing problems
• Electrical issues that require expert attention

The sooner you make a start on these repairs and renovate your property to fix any problems they have caused, the easier it will be, so these are not jobs to be put off to another day.  

Add Value 

When you renovate your property in the right way, it is possible to add value to your property, so if you’re thinking about selling your home and moving elsewhere, it is often worth undergoing the disruption associated with renovations. It’s a good idea to have your home valued before you start spending a lot of money on changes, as you might spend more than you can get back in terms of value. 

In some cases, changing the décor to something less personal and more neutral can be a good idea, and certainly making any small repairs should be on your list. Adding a conservatory, a new driveway, or turning your attic into a bedroom might not bring you much in the way of profit, so be careful. 

Even if the price you can ask for your property doesn’t go up because you’ve redecorated, it might help make the house sell more quickly since the new owners will know there is nothing they need to do, and they can move right in. It will make it a much more tempting proposition. 

For You 

Sometimes there is no reason behind going through with a home renovation other than the fact that you want to. If you’re bored with your current décor and want to update it, or you simply want a change because you think it’s time or you feel like it, then go ahead. 

There are no rules when it comes to why you might want to renovate your property, and if something has caught your eye and you want to include it in the new décor, then it’s entirely your choice.