We bought a property in England for £60,000 | Full tour with figures included 

Welcome to our latest investment property! We hope sharing this inspires you and also gives you some ideas. Remember to do your own research before making an investment and if you have any questions for us about this one let us know below! 🙌🏼

Just one question. Do you think it is fair to charge the same amount for each room? As you intend the downstairs room to be quire small. In comparison, plus it will be by the window to the street and right next to the living area. Just a thought 🤷

Quite a size disparity between rooms. Will you adjust the rent accordingly?

I don't think the small 3rd bedroom downstairs is a good idea. It's too small compared to the two doubles upstairs, plus it's next to the front door and street (so it will be noisier especially with people coming and going) and then being next to the communal lounge and kitchen there will be noise from there too. Plus it then makes the lounge too small to comfortably use and have guests in. Focus on giving it a lick of paint, put a new bathroom in, smarten the kitchen and it'll be much better.

This is EXACTLY why tenants get ripped off and landlords/ladies extortionate such a high rent to make a ridiculous amount of profit. If the mortgage is less than £150 per month why charge so high for rental??? ITS NOTHING LESS THAN GREED!!! You can call it investment - but it's greed and takes advantage of others poverty. You should charge no more than £200 per month for students. Its shameful that you make out this is a good thing to do. Shame on the lot of you who do this and have done this for the last two decades. You will all rot in your greed.

Love the property. Agree that the rent per room needs to be according to the room size. I have a number of rental properties and that's how I charge for a 3 bed as well and it's how the tenants stay as the person with the smallest room doesn't feel ripped off. I would just replace the kitchen cupboard doors and put good hardware and replace the counter with granite instead of putting in a whole new kitchen. Granite is easy to clean and if someone takes a hot pot and puts it down on the granite, the don't burn the surface. Looks amazing too. Just take the cheapest one, which normally is a black one, gives a super modern feel. Agree with making the bathroom bigger and taking the laundry to the kitchen. If the agent is willing to help, Freecycle is a great way of advertising the goods you want to give a second life too. Excellent buy :)

Really nice property but I think it would be better as a 2 bedroom, not 3 but I get you gotta make a profit. Anyway really excited to see the process of fixing it up.

Good investment 👍

Guys a 3 bed let is classed as an HMO, you would need to fit a hard wired smoke alarm and fit fire doors, there are other regulations too. It is not an easy process! You also need an HMO mortgage. Please understand HMO rules before proceeding.

Solid house for £60k even in Middlesbrough! What’s your plan for the intervening period between the house being ready/advertised and students moving in? At most universities vast majority of students look for the following years house in November-February. So assuming you have it ready and advertised by Nov 2021 you won’t get rent until July 2022. Do you have an alternative rental plan for the months in between?

Congratulations guys! Looks like a great property! With regards to the unwanted furniture, the British Red Cross Charity offer a collection service so they can come and pick up the items you want to give away! Hope this helps :)

Depending on how this one goes, would you ever consider doing another student let in the future? :) A huge congratulations, by the way, I am so happy for you both. I hope that everything goes according to plan! Take care and stay safe. ❤

Being smart and fortunate, doesnt necessarily mean you should squeeze others just to make yourself rich.

Really interesting one of your best videos - covered all the important points in under ten minutes! Surprised you are changing kitchen it looks perfectly decent from the video! Good luck!

Wow! Congratulations on your new investment! You guys are progressing so amazingly! Well done! I hope you have a lovely day #peace #love and #light 😊

Such a great video, really inspiring! Congratulations this is such a great find!

I'd get adult bunk beds and put a study space underneath. Gives so much more room

Cramming an additional room there is ridiculous.

Well done guys, it’s great to see young entrepreneurs doing well for themselves. You both appear very smart and clued up and a great team. Good luck to you both and loving the videos 😊

We sure enjoyed this one Matt. 😊

congrats on hitting 220k guys! great video!

Middlesbrough, town of my birth and where I lived until 1983 when I moved 'dahn sarf' to Bedford after my parents died. Teesside University used to be Teesside Polytechnic, I spent many a happy hour in the students union bar. I think you're very brave to rent out to students, lol. But who knows, you may get lucky and find 3 perfectly decent tenants, fingers crossed.

Brilliant guys, £60,000 wowza bargain, well done guys Great job, I hope there will be a little behind the scenes vlog 😃, well done for targeting students, a great way for extra income. Great size bedrooms 👏 👏

Congratulations on your new investment property purchase. Thank you for sharing your info and your thought process - it's very helpful to hear this all

That’s a smart investment guys, the third bedroom is a fantastic upgrade! The sky is the limit 👏🏽👏🏽🙌🏽

Guys, British heart foundation will take the furniture for free. In the past I have acquired similar properties and offered furniture like this for free collection. The great thing is you’d be helping others too. All the best keep up the great work. Would be great to work with you guys!

The house is in very nice condition. The kitchen doesn't look bad at all. I've seen other similar houses in far worse condition. Didn't notice any leaks. Good deal.

Great guys! Please do make a video once the works and such are done; like your mostr recent video, a breakdown with costs would be interesting!

Hey Matt and Summer! Thank you for the video, it’s a great investment. I can’t wait to see how it turns out!! I’d love to have all the furniture you don’t need if it’s still available. I’ve sent you an email with my details. 😊

Some local charity shops will pick up furniture for you. Also you can go to the uni and they can property manage for you.Also have a good alarm system, i got burgled twice when i was at Teesside uni !!

My landlord opted to not have a living room to have a 5th bedroom, so technically my room is where the formal living room would be. I love my room don’t get me wrong but that also means we don’t have a lot of communal space other than a galley kitchen which only fits a tiny table near the end. Me and my roommates are good friends and we like to eat together have game nights etc. And in the summer we can use the garden, but in the winter we’re stuck in either the kitchen (which is tiny) or my room (when I’m free to hang out), but we do really miss that extra communal space. But maybe that’s because we’re with 5 and you really get that group dynamic quite quickly. But i think if i were to look at student/starter shared housing again I’d opt for something with a formal living room even if it meant having to pay slightly more rent.

Great video as always guys - love the detail. I think you perhaps touched on it in your other purchase video, but why did you opt to buy via a LTD for this one? Are you expecting this to be pretty hands off in terms of management overall? What work do you envisage you will need to doing to ‘turn it around’ where tenancies change from year to year? I’ve avoided student let near us in Notts because it’s a saturated market of HMO’s so opted for other routes so far, but this is interesting. My above q’s are based on a worry about having a place ‘away’ given property isn’t my primary focus, but do want to invest in another property soon. Would love to catch up for a coffee some time near Notts if you ever fancy it . . .

Errr - a bedroom right by the front door, with the "communal area" right next to it, and a bed up against the window? I think not . . .

Should be a first time buyer house

The kitchen looks fine for students. I'd just put in new appliances and give them a coffee machine and microwave, new oven, toaster, kettle, etc. Paint it. The hospice would pick up all the furniture.Just noticed that you uploaded this video a year ago.

Really liking these refurb videos as there so helpful, especially as you guys include the full costs. Regarding the current furniture, maybe offer it to a charity who provide emergency accommodation, just so it doesn’t go to waste?

Matt&Summer lovely personality I love your content God bless you both

Congrats guys!

I would: - Put a shower where the toilet its Make it a decent space, nice tiles, shelving for towels, etc. - Put a toilet before the shower area - Remove the bath - Keep the existing kitchen cabinets - Not sure about the 3rd bedroom, I think it would be too small. Students need a desk with a chair, plus cabinets - Add a small bathroom upstairs Why are you buying properties spread out over England? Better all close together for easier (and cheaper) management. I'm not sure I agree with the cashflow vs capital point of view.

Great business to be in. Houses are dirt cheap in my area and my uncle and his daughter do the same. I last spoke to him 10 years ago at my dads funeral and back then he owned over a 100. I remember him telling me that he had just bought a four story yacht. I thought he was talking about a sailboat but obviously it was a super yacht.

Guys i think it would be dope if you guys can create a top 10 tips video or list of books to read for your channel. I’ve been lucky to come across your content for many months now

Students expect alot higher spec than use to be the case. But an off the shelf b&q or howdens basic kitchen would do, id be tempted to keep the carcasses and just replace doors, knobs & worktops. Think of all the parties 😁

Thank you! Can you do a video on SPVs and financing please?

Actually not all the bad on the inside. I was expecting a real dump for 60 Grand. Seems pretty barebones, but livable.

Looks like a great investment. I wonder if you could make that utility/toilet area into a second shower room as 3 people will be living there.

Outstanding

You guys are amazing! Summer is so pretty

That's awesome , congratulations .

Hi Matt & Summer, congratulations! Would be great to see the finished product once you’re done and get details of how you furnished it and what the cost was / how you saved money doing the refurb etc. Thanks!

Is that a bit of damp in the first bedroom ? , good investment for 60 k though , thumbs up

What a nice property for the money. I'm thinking about buying a retirement property that is well with in my budget but what is the area like?

What is that set up called where you let it to multiple tenants?

How much will the work and new items cost eg you mentioned putting a new kitchen in? Are you doing this work, or do you have a builder do it for you, do you know someone local in the area? Thanks

Love your investment property videos! Love all your videos of course but definitely my favorite as I hope to invest in property in the future! 🤞

Good luck with the house being in Middlesbrough

Yes i like this one, definitely potentially a good buy! Let’s see how it develops

Landlords exploiting students. Unfollowed.

If you are going to let it to students, you don't need to have a top notch kitchen. We were all young once and lived in such groups, and they really don't keep the properties very well.

Hi, I’m new to your channel. Do you always use the same mortgage company? Where would you guys say is the best investment area at the moment?

I would be good if the above 2 are charged at 400 each and the one on downstairs should be charged at 300

Brilliant guys. We’ll done!

Will you manage the property or give it over to an agent?

Congratulations for your new house! I wish you a lot of success!!

Nice investment 👍, congrats on 220k. Great video keep it up always love the content 😁!!.

Why not make a two studio house, 550pounds a month. One upstairs one downstairs and make it nice and luxurious. I think it's better than that squeeze of a third bedroom and none of the rooms are ensuite upstairs too, kinda boring everyone will share the same kitchen and bathroom all small and squeezed. Nope. Make a two studio apartment house keep up the luxury. Ull come off with the same profit a month.

Well done. More relavent and realalistic for your viewers

Very good investment, may I know where you mortgage the house, do you have any mortgage broker to share?

How does this work with tax tho? I hear tax is very high for buying properties to rent

Hi good after noon sir m from Pakistan na want to buy a house in Glasgow or round about area cheapest house please can u help me out to find a cheapest home in that area n how I get

So nice the fact you guys are in this together. I have savings and would love to take the plunge and get into this stuff but I am on my own and have no clue haha

Not a bad property for £60,000, just looks like a cosmetic makeover needed, possibly change/move the kitchen/Utility/Toilet situation. Unless really needed I would not put in a 3rd Bedroom but again depends on the local area and demand. But good luck with it and look forward to the follow up videos.

Gharstly and dark. The only good thing about it is the kitchen. Theres only an entry hall, no real living room and no dining room? Everthings just placed into the small entry hall and passing ppl outside can literally stare into your window from the street. No privacy. Depressing place.

Nooo keep the living room & 2 beds . People will pay more

Congrats on the new buy guys! I’m also looking for a very similar investment property. How do you manage everything for a property that’s not close to where you live? What if something goes wrong with the tenants or the property? Also, I’d really like to hear about what the regulations and standards are of properties for lettings (e.g fire doors etc). Would really like that covered at some point if you can? Keep up the great work! Inspiring as always 😉

Nice property nice price. May I ask which area is this .i want to buy if I got a good deal like you.

Nice one am here watching

How do you find the right people to do the refurbishment when you are in a new area? It’s a cute house and I’m sure you’ll make it look great.

Congratulations Matt and Summer! 👌

Hi, loving the videos. Am I right in thinking the regulations are different for multi occupancy let’s? If so how do they differ from a normal rentable property?

Hello from Uzbekistan 🇺🇿 I will be moving soon to UK We would like to sell our property in Uzbekistan and buy from UK🇬🇧 I look forward for your help!

I feel like property owners always end up trying to exploit students so please make sure you make the house a nice place to live in! Yes students are not looking for luxury but they do want a nice place to relax, eat, sleep, socialise and study. It shouldn't be about squeezing as much from them as possible but providing a nice place to live suitable for their needs ☹️

If you was to make a profit off of this property can you get another buy to let mortgage while still owning this? Something I was wondering about. Great buy btw!

I would do a follow up video showing around Middlesbrough university so people know what to expect when they come here. Plenty of bars and cheap eats and drinks for them!

£350/room in Middlesbrough? My £57K 1965 3-bed house 5 miles down the road would rent for £450 in total.

Who will be managing the let for you? I assume you'll be some distance away.

What an excellent investment and return on investment

Ayy cool that your in Middlesbrough. Would be cool to see you and say hello. Keep up the good work👍

Congrats on the house and thank for sharing, as it defo educational. Keep it up :)

So if one student is using the bath/shower then the others can’t use the toilet?? Brilliant!!

Where are you both new people in the channel

I did not think you could buy a 2 bed house for 60k anymore I live in Halifax that house would be £120k /£130k

Great video Guys!

My god property is so cheap.they are getting it at 60000 pounds only, similar houses will cost at least 100000 pound in Calcutta.......in bombay it will cost minimum 300000 pounds....

Good luck

Congratulations on buying a house in my home town 👍

Great price. Do you use any software to keep a record of maintenance costs, maintenance and repairs to deduct from your tax payment? How do you do that, and keep receipts etc., are you passing it over to an accountant?

I think you should leave it with 2 bedrooms and charge a bit more for each room, it looks a little bit claustrophobic to me. Tiny living dining area or 2 people cooking and one trying to get to the toilet it is a bit crazy., also talking about atorage ....I missed the area, sorry, could you please tell me? Thank you so much, you are doing a great job.

Keep the kitchen just change the doors to update. spend the money on creating a hall between the kitchen and bathroom and put the bathroom at the end where the toilet is already plumbed!! the washing mashing can then go in the hall between the kitchen and the bathroom fixing the very dodgy layout!!! problem solved!

Very interesting to hear your business ideas, although I;m not inclined that way. It's fun to watch!

Great buy, can you help me with explaining how to get a mortgage with 25% deposit on a ltd?