Week 7 Progress & Loft Conversion | Ep. 3 | Watch This 'Space' with Mitch & Tommy

In this episode, Mitch and Tommy take you on a tour of their HMO project to show the progress made after just 7 weeks.
Most notably is the start of the loft conversion which will house two additional ensuite bedrooms.
Even though weather has held them up, the garden has made good progress and is now complete.
In this episode you'll also meet the team of guys who make it all happen, the build team!
Oh and lastly, there's some exciting news that the guys share, so make sure you watch until the end!
If you would like daily activity updates head over to Mitch's Instagram here;
mitchnunn?...
#Property #UKproperty #propertyinvestment #propertydevelopment #propertydeveloper #propertyinvesting #HMO #coliving #success #wealthbuilding #landlord #entrepreneur #coliving #colivingspaces #colivinglife

[@tictoc5443]

Kudos
Thanks for sharing

[@Pete_Sam]

Awesome video and education. Learning so much in the last 3 mths 👍🏻

[@MitchNunnProperty]

Thanks Pete! Glad you’re enjoying 👌🏻

[@colincameron5012]

Another great video 👍

[@MitchNunnProperty]

Thanks Colin 👍🏻

[@theremotepropertyinvestor1281]

Great video 🙌🙌

[@adamadam-fo8mp]

Great vid just starting looking into property and hmos in Manchester area

[@MitchNunnProperty]

Thank you!

[@jarv75]

Hi Mitch - enjoying the progress videos. When you say in-house do you employ a team directly or just sub to the same guys. Sorry if that’s too detailed/personal question? 👍

[@MitchNunnProperty]

Thank you! We do everything in house with guys that solely work for us. Sub a few trades - plumbing, electrics, plastering and decorating 👍🏻

[@jarv75]

@@MitchNunnProperty good plan getting control of those costs, saving on the profit you’d be paying a builder 👍

[@user-qu1vf1tm2b]

Enjoying your content btw

[@MitchNunnProperty]

Thank you 🙌🏻

[@tinaboahene1312]

How do you work out the end values of all your projects?
Are there things/factors you consider to get to that possible rough end valuation. Thanks

[@MitchNunnProperty]

Well comes down to experience, comparables etc. We do Sui Generis HMOs so valuations are commercial and based on rental income as opposed to bricks and mortar valuation. There’s different valuation metrics to approach this though and it’s highly subjective between surveyors

[@07baromo95]

@@MitchNunnProperty Interesting! In one of your videos you mentioned you estimate GDV at £700k. If it is so highly subjective how can you be so sure of your figure? As in what happens if it comes back at £625k, you would be locking in another 75k.

[@EBCemap]

Do you calculate stamp duty in your costings when you say 300k purchase plus 130k build cost?

[@MitchNunnProperty]

No stamp factored in to those figures. Since this episode we’ve changed the plan slightly….build cost will be higher too now, either way it’s going to be an all money out deal even when factoring in the stamp

[@user-qu1vf1tm2b]

Hi Mitch how much do you estimate the loft is going to cost ? And is the loft for 1 bedroom + ensuite ?

[@MitchNunnProperty]

Hi mate, we have worked out rough costings but this is the first one we’ve done in-house so to speak, so will know more in coming weeks. We are hoping for circa £30k, £40k max. This is creating two bedrooms with en-suites