I am very keen to keep investing in property. It seems to be the way to go lately. However, I need to think about the long-term profit. It usually means having to buy cheap and renovate extensively. Researching different locations around the UK, I have found that Liverpool and Manchester have some up and coming but cheaper areas to invest in.
I have found that when undertaking a big project myself I have to plan ahead, especially when it comes to the likes of choosing a plant hire company like Bryn Thomas Cranes for Crane Hire. Companies like this can get booked up quickly so its worth getting your date in first!
If like me you are getting hands on, here is my quick guide to total house renovation!
Before you can even think of renovating, you might have to take things back to the beginning. If you have invested in a property you are not needing to live in, there is no reason you cannot go all guns blazing and completely gut the property. In some of the properties I have worked on removing the likes of lathe and plaster is such a mucky job, that if it was not all removed on day one, the whole house is quickly covered in a thick film of dust! You should work top to bottom of the property and aim to clean up on the go.
You do need to plan this step ensuring you have skips onsite and ready to be replaced at a quick pace. Even on a small property you can really underestimate how quickly you can fill up a skip. Prior to booking a skip you should check if they take plasterboard. In Liverpool for example you should aim to notify the skip operator if putting more than a wheelbarrow full in. Some companies will request you to hire a separate skip for plasterboard waste only.
Often, I merge rooms in a property to give that impression of space, utilising heavy duty steel-work beams to cover the missing load-bearing walls. A quick google search on Crane Hire UK should bring up hire companies in Liverpool or Manchester that will suit any of your projects that require heavy duty lifting down to the ground. Having these booked in advance will ensure your renovation stays on schedule. This means you should be able to flip the investment or move tenants in for that long-term profit. Once you have these steps completed, you can start to put the property back together. I am always shocked at how quickly it goes from a building site to home.
Just hang in there even through the times when you really wonder what on earth you are doing! With each renovation you will become more experienced and the whole process will become easier and less stressful.