Let's Build Your Property Portfolio
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6 Simple Steps to Building Your Property Empire
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Step 1 Consultation & Strategy
‘Property investing’ is used to cover a multitude of strategies, the following to name a few:
(1) Purchasing a single buy-to-let or building a complete property portfolio (using a recycle your cash strategy) to give monthly income and capital growth over the medium to long-term.
(2) Trading or flipping property for short term profit..
Each strategy has its own advantages, and will largely depend on both your circumstances and what you are looking to achieve as an investor.
Our property investment strategy has been formulated from our experiences with (1) above, buying, refurbishing and renting the property to create positive cash-flow, the most widely impemented strategy
We look to achieve a combination of equity and income from property, as we recognise that it is the positive cash-flow and making sure we are not over-leveraged, which allows us to weather any possible market downturns and still achieve the goals of:
(1) Supporting our family’s current expenses
(2) Creating a pension pot for the future
(3) Allowing us to be financially free
Buying investment property really is a business decision, and not an emotional response. Emotional responses should be limited to purchasing your residential home.
How we can help
At VardenPropertySolutions our focus is on offering a personal property portfolio building service, aimed to support busy professionals (whether employed, self-employed or business owner) to build a property investment income and asset base. We remove the stresses associated with property investment, so that you can achieve outstanding returns, while continuing with your day-to-day lifestyle.
The outstanding benefits achieved by investing in property is understood and recognized by many but the ability to realise those benefits is understandably often limited due to time commitments and lack of know how. By sitting down with you and taking time to understand your individual requirements it allows us to source and promote property to you which meets your exact investing requirements.
Our fully transparent, open, honest and inclusive approach allows us to work closely with you and successfully achieve your investment goals.
Our unique 6 step seamless pipeline means that once we understand what you are looking to achieve we can work on your behalf to deliver the results.
So if you would like to invest in property and recognise the financial benefit of doing so, but are struggling to fit it into your busy schedule,we would be delighted to work with you.
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Step 2 Sourcing Property
The key to purchasing profitable property as a long-term investment is down to 2 factors
(1) Focusing on and knowing your area
(2) Having an efficient and reliable 'power team'
These two elements mean you can quickly identify property that represents a good investment opportunity and work fast to secure it and have it earning passive income.
It sounds simple but done properly it requires time, effort and dedication and this can make it almost impossible to achieve if your career, business or family commitments prevent you from acquiring the knowledge to learn how and to find the time to carry it out.
Investing in property is not about compromising your goals, it’s about understanding your time constraints and working with a reliable and trustworthy property partner who can deliver against your requirements. Having a partner in your property investment journey means they can utilise their time and knowledge to open up favourable investment opportunities for you.
How we can help.
I live in Ireland and I am investing in the Mid-West region (Limerick, Shannon, Ennis and Galway) where I have, and am continuing to build a portfolio of properties for my own family and my investors. We also invest in the North of England (mainly Liverpool and Newcastle) where we partner with property sourcers who are based there.
I have spent time and a lot of mileage building a powerful property team and connections so you don’t have to.
Due Diligence
We have a very clear and detailed due diligence process that we carry out on every new property deal. This includes things such as an understanding of the build quality, local property values, the strength of sales and rental demand in the area, typical sales prices, typical rental prices and factors such as transport routes, local amenities, schools and colleges and more.
We believe in transparency and being realistic with our investors and we will not promote any properties which do not meet our high standards.
So why the Mid-West ?
Put simply it is because the Mid-West is an region, which offers extremely impressive gross rental yields and capital growth. With the recent covid restrictions on travel forcing people to work from home and this combined with the on-going rollout of National broadband to rural Ireland we see the demand for housing and rentals increasing exponentially in the coming years. The same can be said of the North West and North East UK
In addition the properties we are gaining access to are significantly cheaper than in the capital cities (Dublin & London) and , so we can help you make your seed investment money go much further and gain you better returns.
To demonstrate this fact we could purchase 2/ 3 properties in our areas for 1 property in the capital based on average house prices. This gives our investors increased monthly cash-flow and the opportunity to gain equity growth on an additional 1 or 2 properties over time.
So if it is important to you that you make the money you worked hard for, now work hard for you then partnering in property with us will help you achieve this very goal.
You can achieve high rental yields from a relatively low investment base, all while you concentrate on your career or business,
Step 3 Financial analysis & negotiation
When investing in property it is essential that you review the numbers objectively and calculate whether it is a sound financial investment. You want to ensure you are buying a property asset and not a liability!
It is easy to be dazzled by all the hype and sales promotions in property marketing but financial due diligence is the key to Buy-To-Let investment success. When completing your financial analysis there are 2 key elements that you need to consider;
(1) The income generated by the property
(2) Refurbishment requirements
Income Generated
You will hear the term ‘Gross Rental Yield’ used a lot in property but what does it actually mean? The gross rental yield is calculated by dividing the annual rent by the purchase price. It is great as a starting point, but it is important to understand that there are other costs involved in renting property and you need to feel comfortable calculating the net cash-flow. Net cash flow is the income you receive into your bank account every month after all expenses have been deducted.
You need to be confident that the income from your property is in line with your investment goals eg. long-term equity growth as a pension or short-term additional income boost.
Refurbishment Expenses
Remember the cost of any refurbishment work if required to make the property ‘tenant ready’ needs to be paid for with your cash, it can’t be included in the Buy-to-Let Mortgage. This means the more detailed your projection of expenses, the better you can assess the overall investment and make a sound investment decision.
How we can help
No longer will you need to feel overwhelmed and worried about whether you are investing wisely, as I will work closely with you to ensure you fully understand the financials of any investment property. Each property will have been individually assessed by our Refurbishment Project Manager team and a detailed ‘room by room’ schedule of any work required will be documented and shared with you.
We will complete any refurbishment on your behalf and we will utilise our connections and knowledge to source and supply items at competitive rates. The work required will then be included in the financial projections, so although there are no absolute guarantees, the risk of ‘nasty surprises’ is greatly reduced.
You will also be provided with up to date Sale comparables, so that you will know and be happy with the equity achieved at day one following the refurbishment. Finally our documentation will make it very clear for you to understand the projected cash-flow your property will generate.
My role is to make you feel both comfortable and confident so you are able to make an informed property investment decision.
Step 4 Mortgage Application & Conveyancing
The Buy-To-Let Mortgage marketplace has seen great changes over recent years, the tightening of the banking criteria has meant that banks are more careful how they lend their money. Each bank sets their own lending parameters and guidelines, and there are limitations on the amount of exposure they are prepared to give to each individual investor
So that you can act quickly when you find an investment property it would be advisable to talk directly to a Mortgage Broker, who can provide you with ‘whole of market’ buy-to-let advice.
Once your offer has been accepted for your buy-to-let property you will need to confirm;
The mortgage you require — fixed or variable. Most property investors go for a Fixed mortgage which reduces one of their variables.
The level of survey you require — the more structural work required the more expensive survey would be recommended. However, for a simple buy-to-let investment most investors go with the basic valuation, required for mortgage purposes.
Insurance — You will require buy-to-let insurance. The lenders make it a condition of the mortgage that Buildings Insurance ‘goes on risk’ the day of exchange, as you are legally liable to complete on the contract at this point. Dependent on whether you are furnishing the property you will also need to consider contents Insurance.
How we can help
We have relationships with several 'all of market' mortgage brokers who we work closely with to give you access to the best buy-to-let mortgages in the market.
Having brokered hundreds of property deals they fully understand both the buy-to-let and bridging finance marketplace, and act on behalf of your investors with great speed. We take time to liaise with all our investors prior to putting in any offers, so that we understand your personal circumstances and therefore can provide mortgage illustrations and advice which best suits your requirements. We will then ensure the application goes into the system in a timely manner.
Because of our unique ‘one stop shop’ solution, our investors have the peace of mind that their mortgage application is moving smoothly through the process, and they will be proactively kept informed of progress.
We will also ‘join the dots’ up for you regarding keeping the Estate Agent and Solicitor up to date with progress (please refer to Exchange and Completion) and through our mortgage brokers we arrange your Buildings Insurance. Therefore, removing a time consuming and stressful part of the property investing pipeline.
We really do take our responsibility of being your property partner seriously, so this means you can feel confident that your interests are being looked after, without the need for you to take time out of your busy schedule.
Step 5 Exchange & complete contracts
Just arranging and keeping on top of the legal elements of a buy-to-let purchase can seemdaunting if you have a busy lifestyle.
How we can help
We have a number of property experienced solicitors that we work with.Through both our own purchases and investor purchases we have established close connections with several solicitors, who we will engage on our investor’s behalf. We then keep in regular contact and update our investors on the progress of their purchase.
Step 6 Refurb & Letting Agent
When purchasing investment property it is important you factor into your projections any monies to be spent on the refurbishment, as this will need to be paid with cash and can’t be included in the mortgage.There are many learning curves to overcome as property investors and two commonrefurbishing mistakes made by inexperienced investors are;
(1) Under estimating the cost of the refurbishment — as discussed in the Financial analysis and Negotiation section, ‘the devil is in the detail’ as the odd €50 here and €40 there, all add up!
(2) Not refurbishing for an investment property— think of your ‘end point customer’. Remember this is not a property that you are going to live in; it is an investment property and should be refurbished as such.
We have all heard horror stories of builders starting jobs, not to finish them, or charging uncompetitive rates. You need to feel confident that you are being charged correctly and that you can trust that the work will be completed, in your absence, unless of course you are planning to be there every step of the way to project manage the work. If you are, do your homework, to ensure you bring the trades people into your property in the right order, so you do not incur double costs.
Once your property is ready for tenants the key priority is to get it rented out and minimise the voids. Most successful property investors do not manage the letting themselves, as they want the passive income, not the hassle. Remember, if you have allowed for the Managing Costs in your Financial Calculations you will know the property is a financially sound investment and you can leave the Letting Agent to manage it for you.
A Letting Agent receives their steady income only when the property is occupied, so it is in their interests to have it full, however business is based on relationships, so the better your relationship with the Letting Agent the more likely your property is to be full.
How can I help?
Refurbishment
As active investors we understand the importance of the refurbishment element of the process. Through our own investing and network connections, we have created a trust worthy, competitive refurbishment team who are managed by my Refurbishment Manager, and who liase with our Chartered Surveyor team member. Between them they are able to supply and fit competitively priced items and bring the Trades-people into the property at the right time, to minimise the refurbishment costs and turn around time. Experience has taught us how to deliver an attractive, tenantable house following a competitive refurbishment process.
Letting Agent
Our Property ‘Portfolio Building Service’ also offers our investors the connectionwith a Letting Agent. We keep the Letting Agent fully up to date with the progression of ourrefurbishment work, removing the need for our investors to get involved with this. All they need to do is sign the paperwork with the Letting Agent. We then work together with the Agent so they market the property, to achieve a seamless process between completion of the refurbishment and tenants moving in.
Once the property is fully refurbished, your relationship will be direct with the Letting Agent.
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