Tag: #landlord

GEORGE STREET, HOVE

Post author By Shelley Hollis
Post date July 4, 2021

We have done it, finally! our George Street project is over the line. Following numerous challenges and design changes, which caused a few delays.

Originally our plan was to convert this mixed use property, which was once a former banking hall, with x2 commercial units and residential above, to x2 commercial units with 4 studio apartments above. This changed midway through to creating x2 twodio apartments and x2 1 bed apartments.

We chose a monochrome interior design theme, which again was adapted to incorporate a splash of yellow to liven the rooms up. We have also used black brick slips, which have a strip light that doubles up as a bedside reading light as well as highlighting the feature wall and wallpaper.

With a special thanks to @brightonrenovationsltd for their hard work, patience and resilience.

The property is now available to let to professional sharers via our partners @proletsuk.

Fingers crossed for the property valuation, which we should have good news on soon!

What do you think, do you have a favourite feature?

Tags #buytolet, #coliving, #landlord, #professionallet, #propertydeveloper, #propertyinvestors, #propertyrenovation, #ukpropertyinvestment

Projects Completed

BAYFORD ROAD, LITTLEHAMPTON

Post author By Shelley Hollis
Post date June 28, 2021

We started our Bayford Road project in February, which has been completed in the past couple of weeks, after a few little delays.

The period terraced property was originally 5 bed, spread over 3 floors, which needed to be totally gutted. In doing so we were lucky enough to uncover exposed brickwork to all chimney breasts and brickwork to the hallway, incorporating this into the design theme for feature walls.

We have created an 8 bed HMO with 7 bathrooms, designed for professional sharers. With thanks to @brightonrenovationsltd for all of their hard work in creating our favourite project so far!

Our friends @nichecom_uk have sent over the professional pics, which look fab! The property is now on the rental market with our partner company @proletsuk, with 3 rooms snapped up on the first day of viewings!

What do you think?

Tags #buytolet, #coliving, #colivingspace, #hmodesign, #investnow, #landlord, #professionallet, #propertydeveloper, #propertyinvestmentuk, #propertyinvestor, #propertyrenovation, #ukpropertyinvestment

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INTRODUCING OUR NEW LANCING PROJECT

Post author By Shelley Hollis
Post date June 18, 2021

We have just exchanged on another fantastic development opportunity with completion due in 2 weeks.

Located in Lancing, East Sussex; this 1950’s mixed use 2 storey property consists of a ground floor commercial unit used most recently as a bakery, with a large one bed maisonette above.

Our plan is to renovate the commercial unit on the ground floor with an open plan kitchen, store and WC. Create a 1 x 2 bed apartment and a 1 x 5 bed HMO.

Tags #investnow, #landlord, #propertyblog, #propertydeveloper, #propertyinvestmentuk, #propertyinvestor, #propertyinvestors, #propertyrenovation

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FEELING THE PINCH WITH CONVEYANCING DELAYS

Post author By Shelley Hollis
Post date June 11, 2021

Is anyone else feeling the pinch when it comes to delays around the process to buy property at the moment?

We have really felt a delay in the process of buying projects recently & have taken a look to see how we can address this & is there anything we can do to mitigate the delays. As the old adage goes; time = money & therefore we have to try & reduce the time things are taking.

Why are things taking longer;

The increased transactions across the market caused by the looming end to the stamp duty holiday has meant solicitors are working at maximum capacity & inevitably therefore things will take longer to be dealt with.
Funding delays – traditional lending is still very cautious & the legal due diligence is extensive & can take as long as the legal process to buy.
It’s never simple – this is very specific to us but would probably apply to most investors/developers – the very nature of what we buy is complicated. It’s how we add value, we solve problems & create value where others perhaps could not & this therefore requires a keen & detailed look at the title, covenants & other important legal factors to do with the property.

So what can we all do to help things along?

Have a key team of people around you, we work with two legal teams well known to us & who know how we do things. Nazish Ahmad at Jury O’Shea solicitors & Justin Thompson at Thompson Allen, this means they have a lot of our ID’s etc already & know what they are looking for us straight away. This saves lots of time.

Funding – Be ready & choose your route early, this will save you time & money in the long run.

Be tenacious, always ask what you can do to help your teams & be kind to them, it will go a very long way to making sure you are top of their list to deal with.

Tags #brightonpropertyblog, #investmentplan, #investmentstrategies, #landlord, #landlords, #propertyblog, #propertyinvestmentuk, #propertyinvestor, #propertyinvestors, #ukpropertyinvestment

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INTRODUCING OUR NEW BOGNOR REGIS PROPERTY

Post author By Shelley Hollis
Post date June 8, 2021

On Friday we exchanged contracts on this big unit in Bognor Regis, which is located on the beautiful seafront. We are so excited to get started and show everyone the plans/updates of this commercial to residential development.⠀
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First thing’s first, we need to get planning over the line! ⠀
We hope to share more on this development soon- stay tuned.⠀
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Can you guess what our plans might be?⠀

Tags #landlord, #propertyblog, #propertydeveloper, #propertyinvestmentuk, #propertyinvestors

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CROSSING THE DESERT

Post author By Shelley Hollis
Post date June 8, 2021

I love the term ‘Crossing the Desert’, something I have shamelessly pinched from Daniel Hill from @propertyentrepreneur_⠀
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Many of us at T5 are Property Entrepreneur graduates and have nothing but positive things to say about that experience and methodology. ‘Crossing the Desert’ was Dan’s Headline Strategy for his company Group a few years ago as they went through the experience of rapid growth – it described the feeling of moving between two places of safety and the experience of doing so often scarce on resources.⠀
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We are there now. More staff, more projects, more complexity and all the cash flow challenges that come with that. It all looks wonderful on the spreadsheet but day to day it’s tough. So how do we get through it and how did Dan?⠀
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Leadership, Teamwork and constant Communication (plus a little sprinkle of Faith!!). It is my role along with Tina Wenham, to keep reaffirming the vision, keeping the focus and being considerate and understanding with the challenges the team face.⠀
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So where are we now? We can see some green above the heat haze of the horizon and we are now certain it is not a mirage! We just need to hold together and keep our pace and we will be there sooner than we think.⠀
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Does anyone else have this experience or like this analogy?!⠀
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Get in touch!⠀

Tags #landlord, #propertyblog, #propertydeveloper, #propertyinvestmentuk, #propertyinvestor, #wealthbuilding101

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OPPORTUNITIES & THE CHALLENGES

Post author By Shelley Hollis
Post date June 8, 2021

There is an abundance of opportunities available for investors at the moment & we are looking at all options, working the feasibility & selection process to make sure we & our clients are getting the very best of these.

However, with opportunity comes risk & uncertainty. It’s in these risks there is often the best potential in a property. We take all the precautions we can. Advice from third party consultants, reviews of past projects & generally tapping into ours & those around us experience, knowledge & problem solving capabilities.

There is one area that is a real challenge for us. Funding these projects.

Lenders are notoriously risk averse, understandably of course, but we have to find a way to help them see the opportunity for what it is.

We are working significantly in the mixed use & commercial conversion to residential projects at present, this has presented us with a challenge.

Lenders, even the most dynamic & forward thinking, are cautious in this area. Their worry is over the state of the high street & the appetite for new business’ to want to return to traditional high street shops. This has a direct result on the percentage you can borrow against these projects of Loan to value (LTV). This is often closer to 50% than the traditional 70% of a straight residential conversion.

In addition, where we are retaining commercial spaces within the completed project, there is sway towards more cautious exit lending also.

Our solutions based approach means we don’t just give up on an opportunity, it does mean we look even more carefully at the project & make sure we have assessed & investigated all exit strategies aggressively.

Top tips for assessing these projects;

Location
Planning
Borrowing Costs & LTV
Exits
Research

Tags #investmentplan, #investmentstrategies, #investnow, #landlord, #propertyblog, #propertydeveloper, #propertyinvestmentuk, #propertyinvestor

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EGO IN PROPERTY, IS THIS THE ELEPHANT IN THE ROOM?

Post author By Shelley Hollis
Post date June 8, 2021

Everyone is taught to have pride in their work, their appearance and all that they do. We all fiercely promote ourselves and our products – but does that create too much arrogance and ego – in many ways yes it does.⠀
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Brighton is full of it. Everyone in property wants to be a ‘face’ – a someone. The opposite of this is being a ‘no-mark’ – a no one. Most developers are fiercely proud and are not able to back down on anything – and this gets in the way of business.⠀
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I have always worked by the mantra of ‘cooperation not competition’ – an abundance mindset that there is enough to go around, but to work like this I am constantly dealing with and often manipulating egos!⠀
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I see this writ large in the wider community. There is too much ego, jealousy and petty insecurity in property. I have been guilty of it and have for some time been trying to change.⠀
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What do you think?

Tags #landlord, #propertyblog, #propertydeveloper, #propertyinvestmentuk, #propertyinvestor, #propertyinvestors

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DEALING WITH PROPERTY INVESTORS

Post author By Shelley Hollis
Post date June 8, 2021

Dealing with property investors is a key skill and one that has taken me some time to get anywhere near right. I was not a natural salesman when I came into full time property – I was a military/ defence consultant with very limited true sales experience. When I started off I tried too hard, was a yes man and told people what they wanted to hear. Then I over corrected and became a surly take-it-or-leave-it type – an approach I mistook for integrity.⠀
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As I have got older and greyer I have learnt to follow the following steps – something that is far easier and gets better results.⠀
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➕Be honest at all times⠀
➕Sugarcoat nothing but be positive and solutions led.⠀
➕Be yourself ⠀
➕Be humble (it may not come naturally but it will become so) ⠀
➕Treat everyone with respect⠀
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What do you think?

Tags #investmentplan, #investmentstrategies, #investnow, #landlord, #landlords, #propertyblog, #propertydeveloper, #propertyinvestmentuk, #propertyinvestor, #ukpropertyinvestment

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HOW HARD CAN IT BE TO BE HONEST

Post author By Shelley Hollis
Post date June 8, 2021

Quite difficult it seems in property. I can say with experience that dishonesty, even a less obvious economy of truth, gets you nowhere in the longer term. I can no longer be around people who act like this and we value honesty and integrity, the first two of our ‘Five’ in Target Five, above all others when recruiting staff AND property investors.⠀
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So rather than focusing on the negatives, what are the benefits of honesty?.⠀
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Trust.⠀
Better long term relationships.⠀
Trust.⠀
Confidence in ourselves and others.⠀
Trust (it’s priceless).⠀
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What do you think? Let us know.

Tags #investnow, #landlord, #propertyinvestmentuk, #propertyinvestor, #propertyinvestors, #ukpropertyinvestment