Tag: #brightonpropertyblog

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DOING IT RIGHT-ETHICAL CHOICES

Post author By Shelley Hollis
Post date March 5, 2021

The Core Values of Target Five are not a million miles from those of the British Army. Funny old thing that given they were based on them! But do we get it right always – no! Do I get it right always – definitely no! We are, however, trying to hold each other to account and make sure that we do get it right in the end, if not first time. ⠀
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In the Army there is something called ‘The Service Test’, when something bothers you or you have made a decision that you doubt, stand in front of the mirror, look yourself in the eye and tell yourself you have followed the Core Values, if this feels uncomfortable then you have probably not. That is the point to reconsider, even if it means losing face.⠀
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This is exactly where I was a week or so ago. A project of mine was nearing completion and I was walking around with my letting team to discuss letting strategy, furniture and decoration. We had planned to do all units as 2dio type accommodation, but the top units felt too small for this. Being in a great central location I felt sure they would let, but was this the right thing to do? The accommodation was cramped and I would not like to live there, despite the great finish. If I would not like it how can I, with integrity, let someone else take it. That night I talked it through with my Wife and we agreed that we were making a mistake. So we reversed it and lost a bedroom in each unit.⠀
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Don’t get me wrong, I am a fan of making money, but no fan of exploitation. We made the call but I knew immediately from the response of the team that they also felt more comfortable with that. I am also confident that if I had not made the call, someone would have said something. And guess what – it actually feels good, almost like a relief!⠀

Tags #brightonpropertyblog, #investmentplan, #investmentstrategies, #landlord, #landlords, #professionallet, #propertyblog, #propertydeveloper, #propertyinvestor

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MINDSET IN INVESTING

Post author By Shelley Hollis
Post date March 4, 2021

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In order to maximise your investments and growth in your investment ability you have to develop a Growth Mindset!

Most investors I meet are negative in their mindset, they follow what has worked for others, they doubt their abilities. They think they are constrained & limited to what has been done before. “That doesn’t work”, “thats been done” etc. This is classic ‘Fixed Mindset’. Boundaries are set & it is impossible to ever exceed expectations, but investments will underperform if faith in what has worked before is misguided i.e. peoples misguided faith in pensions etc.

The few exhibit a Growth Mindset. They see their own development & what they can achieve with their investments as being without constraint. They can constantly improve themselves, learn & become more competent – the Grow! They have the same approach to their Investments. They set goals but are never limited to them, they accept failure as part of the process & use it to Grow! Constant reassessment of opportunities & exploitation. Positivity always!

You need to be part of the select few in the second camp. Carol Dweck – total legend – ‘Mindset’ (2014) is a must read. Or check out her Ted Talk – https://www.ted.com/talks/carol_dweck_the_power_of_believing_that_you_can_improve?language=en

Tags #brightonpropertyblog, #investmentplan, #investmentstrategies, #investnow, #landlord, #landlords, #propertyinvestmentuk, #propertyinvestor, #wealthmindset

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CREATING HOMES FOR RESIDENTS

Post author By Shelley Hollis
Post date February 16, 2021

When planning our property renovations, we must consider how the space will work, will it be appropriate & spacious enough, not only to meet the regulations but provide a ‘home’ for our residents.

We have replaced the word ‘tenant’ within our business with the word ‘resident’. ‘Tenant’ has a negative connotation that we feel is archaic. Just like the association with greedy, uncaring landlords. It is far from our experience, attitude or intent.

We believe in creating ‘homes for residents’ not ‘houses for tenants’. We aim to create a harmonious relationship between owner & resident & try to apply the following rules;

➕Provide stylish, well thought out spaces that will last, be low maintenance but hard wearing.

➕Consider how the resident will live there, including space for relaxing, space for eating & working as well as space saving ideas, built in furniture.

➕Make it something to be proud of. The design phase of our projects is key to this. We want to be proud of what we are producing but more importantly we want our residents to be proud to call it home. Being innovative & bold with colour/textures means we can stand out from the crowd & so can they.

➕Be clear from the beginning what is expected of both parties. We work closely with our lettings team to ensure we know where our responsibility starts & ends for maintenance/general upkeep.

➕Deal with queries & maintenance issues as they arise in a timely fashion with realistic timeframes, communication is key to any issue.

➕Be sympathetic, it’s easy to forget that this is a person’s home & that feeling should be actively encouraged, it is no less a home because it’s rented & any threat of losing your home is stressful. Handle difficult discussion around late rent or the need to gain possession back with care & consideration.

We believe that the days of slum landlords & problem tenants are a thing of the past & should be treated as such.

Tags #brightonpropertyblog, #buytolet, #coliving, #investmentstrategies, #landlord, #landlords, #professionallet, #propertyblog, #propertydeveloper, #propertyinvestmentuk, #propertyinvestor, #propertyrenovation

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NEW DEVELOPMENT – DUKE STREET, BRIGHTON

Post author By Shelley Hollis
Post date February 10, 2021

We have finally exchanged on this fantastic property. We were first introduced to this mixed use building back in the Summer of 2020, since then we have had plenty of up’s and downs, especially this last week to keep this sale together and was quite the race to the finish line!⠀
What’s even more exciting is that we have a new JV partner on this property/development.⠀
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We can’t wait to get started on this project, not only because of it’s fantastic location in the centre of Brighton, next to the famous South Lanes and moments from the seafront, but also because of it’s scale being over 5 floors, including a commercial unit.⠀
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Our Brief;⠀
– 1 x commercial unit on the ground floor, works to include alteration to WC⠀
– To create a 7 bed HMO (maisonette), over 4 floors all with en-suite bathrooms and an open plan kitchen/ living/ dining area.⠀

Tags #brightonproperty, #brightonpropertyblog, #buytolet, #coliving, #landlord, #landlords, #professionallet, #propertydeveloper, #propertyinvestmentuk, #propertyinvestor, #propertyinvestors, #propertyrenovation, #ukpropertyinvestment

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WORKING WITH TARGET FIVE – DIRECT FROM OUR INVESTOR

Post author By Shelley Hollis
Post date February 4, 2021

Day in day out we tell you all about what we do and how we do it but who is best placed to tell you, our investors of course!⠀
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We are now members of Trust Pilot, allowing our investors to tell you in their own words, their experience of working with T5. This great testimonial was received by one of our clients who invested in one of our first mixed use property developments. ⠀

“Target Five have introduced me to projects which meet my objectives. They have helped me with sourcing, project managing and restructuring to maximise property potential whilst being mindful of what I want to achieve at each stage and overall. When I contract with them, they come in on time and on budget”.
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Located on a busy parade in the centre of Brighton. The property was a late Victorian/ Edwardian building that had a number of historic uses, most recently as a Mexican restaurant with spacious but poorly utilised residential space above. The restaurant had been extended, removing the access to the upper parts. Planning permission was sought and granted prior to purchase to reinstate the front entrance. Target Five sourced, designed and developed the property to a 6 bed, 6 shower room HMO above. The tenants in the restaurant extended their lease!⠀

Tags #brightonpropertyblog, #coliving, #investmentplan, #investmentstrategies, #investnow, #landlord, #landlords, #professionallet, #propertyblog, #propertydeveloper, #propertyinvestmentuk, #ukpropertyinvestment, #wealthbuilding101

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TARGET FIVE’S FUND FACTORY

Post author By Shelley Hollis
Post date February 3, 2021

We are actively seeking and sourcing new profitable property/land opportunities at all times, once assessed and ensured profitable for us or our clients, we want to make sure we are able to progress and buy them. ⠀
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This means leveraging our cash and working capital to work hard for us. By making sure we only put in the minimum amount of cash to each project, we are able to do more of them. ⠀
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Therefore we need to use alternative funding for the balance of the project costs. (See previous posts about different funding types)⠀
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We often move our cash around our pre purchased projects to make sure it’s working in the most efficient way for us. ⠀
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We call this our ‘ Fund Factory’ ⠀
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Key to this is constantly having a handle on where money is deployed and how much extra funding we need, having a number of different options on each project and also that we are fully aware of all the costs involved on each project’s profit margin. ⠀
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It’s not always easy, and requires tenacious documentation and bookkeeping. If it was easy everyone would be doing it!⠀

Tags #brightonpropertyblog, #buytolet, #landlords, #propertydeveloper, #propertyinvestmentuk, #propertyinvestor, #propertyinvestors, #propertyrenovation, #propertysourcing, #wealthmindset

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CENTURION ROAD – SUCCESSFUL ROI

Post author By Shelley Hollis
Post date January 22, 2021

Centurion Road, Brighton- Target Five sourced, designed and redeveloped this property for our returning investor.⠀
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The property was originally a 3 bed family home and is now a stunning 6 bed with 3 shower rooms. The property has been finished to a high specification and the interior design was undertaken by the T5 team, to create a top end coliving rental property.⠀
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Purchase Price: £450,000⠀
Build Costs: £70,000⠀
Furniture: £6,000⠀
Refinance: £625,000⠀
Rental Income: £36,396⠀
ROI PA: £6.9%⠀
or combined YR 1 26%⠀
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We really loved this project as the interior finish was our bold first step away from the grey!

To find out more and how we can find the right property investment for you, please contact us through the contact button or email information@targetfive.co.uk

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Tags #brightonproperty, #brightonpropertyblog, #buytolet, #coliving, #investmentplan, #landlord, #landlords, #professionallet, #propertyblog, #propertydeveloper, #propertyinvestmentuk, #propertyinvestor, #ukpropertyinvestment, #ukpropertymarket, #wealthbuilding101

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BLOOMSBURY PLACE – SUCCESSFUL ROI

Post author By Shelley Hollis
Post date January 21, 2021

Another of our most recent projects has delivered the numbers for our investor.

This listed property is located in the heart of Kemp Town Village, Brighton was sourced, designed and developed by Target Five. The works consisted of converting the existing 2 bedroom maisonette, to create 3 bedrooms and a new shower room on the 3rd floor.

Property Purchase Price: £200,000
Build Cost: £50,000
Furniture: £6,000
Rental Income: £375,000
ROI PA: 12%
or combined YR 1: 56%

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Preparing for the valuation survey itself is paramount, as part of Target Five’s service to our VIP Investors, we put together a comprehensive valuation report for the surveyor on the day, documenting the details around the project, the current rental income, detailed explanation of current comparable properties for both the rental and sales market, the renovation specification, planning documents and certificates/licences acquired. Meeting the surveyor in person is vital, especially if the property is tenanted, you need to be on hand to answer all questions. ⠀⠀
Not a bad return for adding a bedroom and shower room!

Interested in working with T5, or finding out more, please email information@targetfive.co.uk

Tags #brightonpropertyblog, #buytolet, #coliving, #investmentplan, #investmentstrategies, #investnow, #landlord, #landlords, #propertydeveloper, #propertyinvestmentuk, #propertyinvestor, propertyinvestmentsuk, propertylandlord

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EASTERN ROAD – SUCCESSFUL ROI

Post author By Shelley Hollis
Post date January 21, 2021

EASTERN ROAD, BRIGHTON –

This particular property was originally a two bedroom first floor, large maisonette, located in Kemp Town, Brighton. Sourced, designed and renovated to a six bed/2 bath HMO with a loft conversion by Target Five, which now offers a great rental yield return for our returning investor. ⠀

Property Purchase Price: £285,000
Build: £73,000
Furniture: £5,000
Refinance: £575,000
Rental Income: £43,000
ROI PA: £12%
or combined YR 1 70%

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Preparing for the valuation survey itself is paramount, as part of Target Five’s service to our VIP Investors, we put together a comprehensive valuation report for the surveyor on the day, documenting the details around the project, the current rental income, detailed explanation of current comparable properties for both the rental and sales market, the renovation specification, planning documents and certificates/licences acquired. Meeting the surveyor in person is vital, especially if the property is tenanted, you need to be on hand to answer all questions. ⠀⠀
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All to show and prove what a success this project has been and what we believe the value to be from when we set out on this journey for our VIP Investor to make a profit on.⠀⠀
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Interested in working with T5, or to find out more email information@targetfive.co.uk

Tags #brightonpropertyblog, #investmentplan, #investmentstrategies, #landlord, #landlords, #propertydeveloper, #propertyinvestmentuk, #propertyinvestor, #propertyrenovation, propertyinvestmentsuk, propertylandlord

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PLANNING OPPORTUNITIES

Post author By Shelley Hollis
Post date January 19, 2021

We are in a period of unprecedented turbulence and opportunity. A fundamental overhaul of the planning process is going to act as one of the key drivers for that. This is something to learn about and get with – it is not something that you want to miss.⠀
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What are we doing?- we have been focussing more heavily on commercial conversions and development for some time and we have always kept a close eye on PD opportunities. Covid and the latest changes have only accelerated that. We have been doing a lot of Class M – conversion of retail and ground level, mostly rear to protect the parade, but also Class G, 2 flats above. There is also a consultation about to finish around the new Class E – C3 PD right. The devil will be in the detail but this will be huge, not only will it make Class M easier but also reopen Class O for some sites not able to be converted. Space standards for PD are coming in from June, rightly so in our view, so these will need to be observed and complied with. It may well be that the new PD right will negate some previous Article 4 direction, especially around Class O, with some justification in our area with many blocks sat empty.⠀
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We await the wording and the specialist advice but for now start looking. We have around 10 more projects in the pipeline, some of which need funding. ⠀
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– We are market leaders in our area and we have the best and most comitted team. Get in touch if you would like to find out more about working with us – email information@targetfive.co.uk⠀

Tags #brightonpropertyblog, #investmentstrategies, #investnow, #landlord, #landlords, #propertyblog, #propertydeveloper, #propertyinvestmentuk, #propertyinvestor, #propertyrenovation, #propertyuk, #ukpropertyinvestment, propertyinvestmentsuk