£5m Property Development Tour & £400k JV!

In this RUclips video, Mitch takes Tommy Edney on a tour of his £5m property development portfolio.
He shares his experience of purchasing a greenbelt plot that was down valued considerably when he purchased it, but through planning gain he's set to make a tidy sum!
Mitch also talks about his strategy in raising bridging and development finance.
Mitch explores a collaboration with Tommy & wife Daniel Edney, known from TOWIE.
Mitch shares his goal of reaching 100 locally rented bedrooms and the potential income they could generate.
Mitch and Tommy discuss various property deals Mitch is involved in, including a £1.5m commercial to residential conversion, various HMO’s and a new build site.
Throughout the video, Mitch offers insights on finding deals, funding and company structure.

[@edl3181]

Mitch, there were some real gems and great advice in this video. Thanks alot for making it, appreciate it. Keep’em coming! 👏

[@MitchNunnProperty]

Thanks for the feedback! Glad you enjoyed 👌🏻

[@alexandermcghee8960]

Inspiring and insightful. Nice one. Cheers.

[@MitchNunnProperty]

Thanks as always Alex 👌🏻👊🏻

[@Rincon_FN]

A lot of value given in this!

[@MitchNunnProperty]

Thank you! Really appreciate your feedback 👌🏻

[@theremotepropertyinvestor1281]

Great vid gents🙌🙌🙌

[@MitchNunnProperty]

Thanks Harvey! 👌🏻👊🏻

[@dappa0000]

great content keep it coming, I see you said you looking to raise finance look up leo crowd funding 👍

[@MitchNunnProperty]

Thank you, I will 👍🏻

[@yasminhersi3793]

😊🙌🙌👍👍

[@jayph77]

Can you please clarify “all money out”

[@MitchNunnProperty]

That’s when you refinance the property post works and the refinance returns you all funds spent

[@dominicgilbert519]

I didn’t think you can convert to HMO (C3 to a C4) in an Article 4 area without planning permission?

[@MitchNunnProperty]

Thanks correct mate 👍🏻

[@dominicgilbert519]

How do you buy with conviction in an Article 4 area knowing there's a chance that planning might decline your request to change to C4? Seems risky?

[@MitchNunnProperty]

I don’t buy in article 4 areas mate

[@dominicgilbert519]

Sorry to hound on this, but how do you get a commercial valuation on a mortgage then? I’ve completed my first HMO 5-bed, all en-suite (cash) conversion (brand new) and Land bay / Keystone (lenders) are saying they’ll only do brick and mortar valuations (it’s not within an article 4 area). Even spoken with valuers direct and they’re telling me they won’t do a commercial val unless it’s in an article 4 area (as 1 of a few prerequisites but a main one). It’s licensed and C4 + owned under my Ltd co. (credit is perfect). Struggling to get a definitive answer from a lender on why they won’t do a commercial valuation or when they do, what specifically do they look for. Any thoughts on this would be greatly appreciated. Perhaps it’s more lender driven and their appetite?

[@MitchNunnProperty]

@@dominicgilbert519 you only get a commercial valuation on a 7+ bedroom HMO which is Sui Generis. Sometimes they will give a commercial valuation on a 6 bed within an article 4 area as you need full planning to achieve.
You won’t get a commercial val on a 5 bed HMO, especially if not in article 4 area.