Hello Stephen, this is probably my 8th video of yours I've watched since coming across this channel yesterday & just want to thank you for the sober, informative and quality content. I appreciate the thorough breakdown & summary of the vital elements to consider from your hard earned 1st hand experience.
Great breakdown Stephen, there are a lot of videos on YT showing deals that work so it's good to see one that doesn't and how you evaluated that decision
Hey Noble someone did buy it soon after I pulled out for a lower amount than what I offered but still higher than I was prepared to pay by quite a lot I believe. But yes I will keep a look out for it to see what they do with it in case I missed something 😬.
Did the architect say you could only get one flat because the first floor is too small, I think the new minimum size is 37m2 please correct if I’m wrong
+Tobias Henry no this was before the minimum size standards came in and I believe you can still do less than 37m2 flats but you’ll need to go through planning permission just not under pd rights.
Hi everything is possible, you just have to find the right property that allows you to start with less than £75k. If that is the money to buy the property you can do that with £75k and then borrow the funds to convert via a bridging loan which is what most people do. Just dont get a fixed rate loan (exit penalties) as you'll be refinancing out of it when you've convverted the property into a new loan. Fix it at that stage if you want to.
@@StephenDuncombetv thanks I was hoping to get a vacant freehold commercial unit that I could convert into a flat behind the shop or as a whole for my next project I was hoping that would be enough
