This book explains the BRR (Buy, Refurbish, Refinance) strategy of purchasing property, refurbishing it and then refinancing it.
This is a great description of the whole process. It wasn’t as thorough as I would have liked but of course then he wouldn’t be able to upsell his online course if he included everything.
Still a good all round description of the process and he includes details of the power team he uses which is useful.
A couple of tips I learnt:
> You need to purchase for at least 40% off the end value
> Start at the end value using right move sold data.
> Never pay the builder for labour up front.
> Look up money claims online against Cowboy builders
> Take before pictures which will be useful for refinance stage.
> Can use the same EPC which you bought the property with at the end.
Favorite quotes from the book:
“The way you should take others opinions is as feedback, ignore the way they said something, and focus on the content.” – page 31
“Property is going to slap you, right across the face, then a backhand, or three. Then it will punch you in the gut and push you over in the mud. Not once – but often.” – page 34
“Ego, as Ryan Holliday aptly puts it, is ‘An unhealthy belief in our own importance. Arrogance. Self- centered ambition.'” – page 35
“Tell everyone what you do, and what you’re looking for.” – page 105
“When the builder says it’s finished and snagged, ready for tenants. It is not. I promise you.” – page 128
“Some people don’t deserve your money or your work, so drop them and move on.” – page 129
Overall: 86%