Dude out here telling people it’s in Derby when it’s not. Alfreton is in Derbyshire, and also the registration of charge for this property is with Samuel Leeds Finance, so it would appear Sam himself is the investor, right?
So Samuel Leeds finance don’t want interest etc on their loan? The investor don’t want interest on their investment? House prices are not going for what they said they got in that street. Howdens ain’t that cheep either. Plus the electrics need sign off. Seems suspicious to me!
@@Jtbosss I guess he put £100k total in the house (-£100k debt), property value increased to £150k by the end of the renovation, he will then refinance the house to pull out 75% of the value (+112.5k), pay back the £100k and be left with £12.5k essentially. So in the end he will have a house plus £12.5k, if that makes sense.
Sold prices at that postcode was 85k but that was 2018. The market has boomed since then as that was 6 years ago. So the figures do make sense as the next buyer is getting a house rewired, replumbed, new kitchen and bathroom and all replastered with new floors. Checking 2018 prices doesn’t prove anything
@@garystephenjones1 - there is a house for sale on the same road (looks to be the same size) for 115k. The road behind (similar house too) for sale for 130k. Well done to him, he got a good valuation.
So just to be clear the chap who has done the work, has paid back the bridging loan of £60k to Same Le and the £25K to the investor through the refinance that he is planning to take out against the new valuation of £150k. After he has paid back the loans of £85k + interest, say £10k for argument sake, he now has £55k to put down as a deposit for the next property. If he were to sell this property he could walk away with £55k gross? But to avoid having to pay taxes, he is keeping the property and renting it out and then looking to invest the £55k into a new project, thus creating his portfolio?
To an extent yes. You can do some odd things like replacing light switches, fixtures and/or plug socket facia's. But you're correct in saying a full rewire is illegal without certification
So many people in these comments chatting the most shite. 🤦🏾♂️ Hating won't get you anywhere in life and most of you talking like you watched it on mute ffs
Dude out here telling people it’s in Derby when it’s not.
Alfreton is in Derbyshire, and also the registration of charge for this property is with Samuel Leeds Finance, so it would appear Sam himself is the investor, right?
exactly what I put in my comment about Alfreton is not Derby. It's like saying Coalville is Leicester or Mansfield is Nottingham
The video on 7:30 you can see the wall socket literally touching the skirting board. That's not even legal?????
So Samuel Leeds finance don’t want interest etc on their loan? The investor don’t want interest on their investment? House prices are not going for what they said they got in that street. Howdens ain’t that cheep either. Plus the electrics need sign off. Seems suspicious to me!
he literally stated the loan charges in the video, did you even watch it?
And also a free house how's that possible. Maybe he meant he got a house with a little deposit which was the money he earned
@@Jtbosss I guess he put £100k total in the house (-£100k debt), property value increased to £150k by the end of the renovation, he will then refinance the house to pull out 75% of the value (+112.5k), pay back the £100k and be left with £12.5k essentially. So in the end he will have a house plus £12.5k, if that makes sense.
Alfreton is not Derby!
Derbyshire technically is
Were do i get the book for free? That book link takes me to amazon and it says its £10
DE55 4EH look at the sold prices
😮
Sold prices at that postcode was 85k but that was 2018. The market has boomed since then as that was 6 years ago. So the figures do make sense as the next buyer is getting a house rewired, replumbed, new kitchen and bathroom and all replastered with new floors. Checking 2018 prices doesn’t prove anything
@@garystephenjones1 - there is a house for sale on the same road (looks to be the same size) for 115k. The road behind (similar house too) for sale for 130k.
Well done to him, he got a good valuation.
There is a similar house for sale on the same road for £115k - if the above postcode is correct
Great stuff . Look forward to see to seeing you on the academy
Love Nathan, what a legend 👏
So just to be clear the chap who has done the work, has paid back the bridging loan of £60k to Same Le and the £25K to the investor through the refinance that he is planning to take out against the new valuation of £150k. After he has paid back the loans of £85k + interest, say £10k for argument sake, he now has £55k to put down as a deposit for the next property. If he were to sell this property he could walk away with £55k gross? But to avoid having to pay taxes, he is keeping the property and renting it out and then looking to invest the £55k into a new project, thus creating his portfolio?
I got a question how does refinancing make the house freehold ?
So Samuel do the Bridging Loan
It’s illegal to do your own electrics
To an extent yes. You can do some odd things like replacing light switches, fixtures and/or plug socket facia's. But you're correct in saying a full rewire is illegal without certification
Aah, no it's not. It has to conform and you would need any fuse board changes and testing done by a Part P Sparky.
Yellow to Yellow, Brown to Brown and Blue to bits.
No it isnt you just need to get it signed off.
Not if you get it signed off by an electrician
Would like to see Samuel Leads as one of thr investors on dragon den! 🐉
Great video
the shallow goatee is so much better for your face, best facial hair on you so far
Awesome 👌 well done 👏
150k not a chance
£2.5k for a full kitchen in 2024. also not a chance.
£150,000? More like £115,000.
😂 so after paying back the financier you are left with a free house.
Is that what s Leeds said?
Caravan!
So many people in these comments chatting the most shite. 🤦🏾♂️ Hating won't get you anywhere in life and most of you talking like you watched it on mute ffs