Want to know how much this cost? check out this video on the cost breakdown: kzread.info/dash/bejne/hoyklbewhcSrdqg.htmlsi=tSQGpxOSyLaqtJvX

3 and half weeks reno, great transformation. Lovely and bright, fresh and clean. Good Luck! XXX

@scottxgibson

11 ай бұрын

Thanks Caj! Family and friends thought I was being rather optimistic expecting this to only take a couple weeks 😅

There are some really harsh comments on here. Don’t let it get to you Scott! And people… be nice!!!

@scottxgibson

11 ай бұрын

Thanks for the kind words. I’m no Steven Spielberg 😂… but I’m trying

@ilovecatsnteanbooks3971

11 ай бұрын

@@scottxgibson don’t worry, you’ll get there. Don’t let people’s mean comments put you off 😊

Excelente la remodelación 👏🏾

Absolutely stunning.

@scottxgibson

11 ай бұрын

Thanks 🙏🏻

Really enjoyed this and I liked in particular that you were honest about things including your intended sale price. Thanks!

@scottxgibson

11 ай бұрын

Thanks for the kind words! I tried to give as might info and insights as possible (without boring anyone 😅) Hope this helps!

Hey Scott, WOW this is the exact same layout as the house we're currently renovating! We can't believe you flipped it in under a month- super impressive! Awesome video making as well! :)

@scottxgibson

11 ай бұрын

Thanks guys, oh yeah so it is! Best of luck with the renovations. I know it’s not easy. 😅

Wow. I don't know how this is possible but the clean colour scheme makes it smell fresher even through the screen. Great job!

@scottxgibson

11 ай бұрын

Thanks! It really did smell as bad as it looked… it’s amazing how light and fresh it is now.

@therachaeledit

11 ай бұрын

@@scottxgibson I'm going through this myself with my childhood home (though we have plenty of fresh air circulating 😅) so it's always inspiring to see people do these projects. Congrats on the amazing profit also.

You did a remarkable job on that property Scott, and a good profit at the end of the day. Great video by the way!

@scottxgibson

11 ай бұрын

Thanks Janice :) glad you enjoyed it

Looks like a Homes under the Hammer episode! Fantastic renovation!

@scottxgibson

11 ай бұрын

Thanks! That was my point of reference 😂

Wow amazing

Great job Scott and great vid. Really interested in following some of your projects. Love the no BS, simple, honest approach, cheers.

@scottxgibson

3 ай бұрын

Thanks Gordon, hopefully I’ll be on the next big project after the summer.

@gordonadam7051

3 ай бұрын

I’ll be watching mate. I’m looking to get into flipping, so will be learning from your vids

@scottxgibson

3 ай бұрын

@@gordonadam7051 if there’s anything you want me to cover in particular let me know.

You did amazing

@scottxgibson

2 ай бұрын

Thanks!

Solid transformation in that time frame bro!

@scottxgibson

2 ай бұрын

Cheers. Fortunately everything ran to schedule and everyone was available. I thought it was going to take 6 weeks originally, thankfully it was much quicker 🙏🏻

Well done! ☺👌🌺💚.

@scottxgibson

11 ай бұрын

Thanks!

good video and informative, renovation is another ball bgame if it is not managed day to day but good result onwards and upwards

@scottxgibson

11 ай бұрын

Cheers Andy - You're right on that one! It's alot of work making sure things are getting done and managing a team of people.

Around 30 odd years ago I bought the Council House my mother was living in. With the then available discount, it cost £9640. New bathroom, new kitchen, rewire, an updated fireplace, plus a drive on the side with a garage, and I sold it 10 years ago for £169k..... I probably spent around £20k-ish on the refurb and improvements. Well worth the effort I thought.....

@scottxgibson

11 ай бұрын

That’s an amazing return!

@roseharvey2664

10 ай бұрын

But if you need to buy another house to live in, that would be all the money gone. It means people that bought council houses have security or can move somewhere else.

@Rhino11111111

5 ай бұрын

Lucky you. Wish we all could sponge off of the system like this.

@BIGG..G

2 ай бұрын

@@Rhino11111111why is it sponging,it’s literally the right to buy scheme they give you discount based on all the years of rent you paid,,,my mam lived in her house for 43 years she bought it in 2018 for 30k ,she got 70k discount

@Rhino11111111

2 ай бұрын

@@BIGG..G I paid rent for 15 years didn’t see a penny of it again. Should have popped out a few kids and claimed benefits and a an almost free house. That scheme is one of the main reasons house prices are so high due to lack of supply.

Hi Scott I think you’ve done a great job, don’t listen to the negative people. Property flipping or BRRR is something I really want to get into, I’m completely new to it all and haven’t started yet (still doing lots of research/learning) but watching you has given me some inspiration, so thank you 😊

@scottxgibson

11 ай бұрын

Hey Vicki - thanks for the kind words. Some people just like to moan I think 😂. I’ve written down everything I’ve learnt and researched whilst doing this renovation…at somepoint I’ll put it out there to help people like yourself. My advice would be to start small and do your research on the property, area and figures. I wish you the best in your property adventure!

Cute house & considering its been empty for a long time it didnt look So bad.... I m quite a retro person So all i would of done in minimal & I would of kept the fireplace & open fire,its a homely feature....nice size Garden .... Thanks for sharing😊

@scottxgibson

11 ай бұрын

It’s going to be a great house for someone. Hopefully it’s enough of a blank canvas that someone can put their own stamp on it. Maybe they could even extend the house in to the massive garden 👀

Nice

Great content Scott, house looks great, you also need a chunk of money to start these types of ventures, I'm a builder in the NW and flip houses on the side, the interest rates at moment are a nightmare for selling.

@scottxgibson

11 ай бұрын

Thanks Tony! You’re right it’s not easy to start, I needed about 70k spare to kick things off as it’s so expensive in this area. Bigger houses are are apparently not easy to shift judging from the stats, but first time buyer houses seems to be ok. Hopefully the market will improve!

In a renovation for a flip, the challenge is to get the balance right about how much to change and spend: you don't want to overspend and change too much, some of which won't necessarily add value to the property, but you also don't want to skimp on the renovation such that the end result doesn't look much of an improvement on the initial position. I have to laugh at the denigrating comments. These are from bitter and unhappy people, jealous that this man has made at least £40,000 in just three weeks, more than the average annual salary in the UK. Sometimes a person's success makes others of a feeble disposition feel inadequate, so they bite back with nasty remarks. Mr. Gibson can afford to ignore these sad losers, after all, he's laughing all the way to the bank!

@scottxgibson

11 ай бұрын

Thanks for the kind words. Unfortunately there are always going to be haters for one reason or another. But I’m hoping to help people who are in the process of doing their own renovations and how to make it all come together. Hard to say how it’s done without talking 😂.

I dont know where you finding houses that you can add so much value with such a simple flip. Wish i could 😅 best of luck in your next one

@scottxgibson

11 ай бұрын

It takes a while to find them, so it’s not that easy. Cheers!

@Sophie-kk3st

11 ай бұрын

@@scottxgibsongreed the hardest part is always finding the right property. Would you mind doing a video on buying through auction and using bridging loans? I’ve bought 3 but was never brave enough to venture into auction, quite jealous of the good deals though 🤣

@scottxgibson

11 ай бұрын

@@Sophie-kk3st Hey! I will do, it’s on my list of videos to do next… give me a couple days 😅 auctions are good as there can be deals but you can also get hurt financially. BAD.

You’ve done it to a high standard. Just been faced with a bad Tennant and will need to renovate costing 5-10k as they’ve trashed it. If you let be extremely careful in these times as getting them out took 12 months of loss rent.

@scottxgibson

11 ай бұрын

Thank Ed, much appreciated. That sucks you’ve been left with a bill like that. I think I’m going to stay away from lettings, I’ve seen enough “can’t pay take it away” on tv where the landlords get done over from tenants living like animals.

@eddy45686

11 ай бұрын

@@scottxgibson I know Scott but selling hits me with CGT and being a higher tax bracket can’t afford to be paying that just now maybe when I retire.

@scottxgibson

11 ай бұрын

@@eddy45686 I get you. If you are doing several of these then it might be worth speaking with an accountant and looking at setting up a ltd. For me it made sense but everyone’s situation is different. (This is not financial advice 😂).

@kat7777

11 ай бұрын

​@@scottxgibsonNot all tenants are bad and there's many who respect and look after their home...... It's a two way street and many landlords don't come out when they should either and do what's required

@scottxgibson

11 ай бұрын

@@kat7777 I used to work in residential property management, and there are plenty of both bad landlords and tenants. But the landlords take all the risk compared to tenants.

good video... subscribed! i am at 203 myself!

@scottxgibson

6 күн бұрын

Thank you. Much appreciated 🙏🏻

so how did you finance the deposit and the purchase of the property? did you use bridging for the purchase and the renovation?

@scottxgibson

11 ай бұрын

I used bridging financing for the property, the deposit and renovations etc were cash.

what builders or contractors did you use . i am wanting to start investing in property tho i dont know if i should go with a main builder or get people for specific jobs and om most of the work my self

@scottxgibson

10 ай бұрын

You can use a main contractor but you will pay a premium as they will mark up all the other trades. Managing each trade yourself can be difficult especially if you don’t know who’s good or bad or the general building process. You could do the work yourself if your got the patience but I’ve been there tried that and it’s very full on… if you want to invest on my next property with me let’s chat!

Hi Scott. Did you had to get different contractors for different repairs eg electrician , plumber, roofer? Or did you give the entire repair job to one contract!

@scottxgibson

5 ай бұрын

Hey! Good question. All the trade work was done by different people I sourced, my very own team of Avengers in a way I guess. I scheduled the work and managed it all. All done in under a month. However it does mean you will be on the phone alot managing different people. A friend of mine did a renovation project using a main contractor for everything but he had to wait months and months for availability.

Nice one Scott. I’ve recently put my first flip on the market too so will be interesting to see how you get on with the sale of yours with the slowdown in the property market

@scottxgibson

11 ай бұрын

Thanks! The market is definitely not as hot as it was last year. But I’ve still had a fair few viewing booked in for this. From what I’ve been told from estate agents anything at the 400k+ mark isn’t shifting, otherwise business is still good. Best of luck with your sale!

@andyrooot

11 ай бұрын

@@scottxgibson cheers 👍

@jamesroutledge2731

11 ай бұрын

Where you based mate just so I can work out where your getting those refurb costs from

@scottxgibson

11 ай бұрын

@@jamesroutledge2731 Cambridgeshire 👍

Hey, has this been sold? - did anyone mentor you? - how many of houses did you have to analyse and view before finding this one? How many months did it take you to find this? - what was your house buying history? (Your at least 2nd time buyer since you paid stamp duty)

@scottxgibson

10 ай бұрын

I have an offer coming from over the weekend. Nope, no mentors. All self thought. Plenty of research, but I also worked in the construction industry when I was younger. I probably analysed 100+ houses. I was looking everyday for bout 2-3 months. This was my second renovation home but first at auction. If you want to learn how I did all this let me know!

Hi Scott its really nice what you have done in short time amazing. I would like to propose an option that we can collaborate in future for you upcoming projects. I am an Architect and I can help you with the design, 3d visualization and planning permissions as well.

@scottxgibson

11 ай бұрын

Thanks Atif, comment your company info and I’ll reach out if I need help with design work.

Hi Scott, very nice video! Any update on this property? Did it sell? :)

@scottxgibson

4 ай бұрын

Hey - Yes it did sell, however the buyer has some issues (long story) so now it's rented out. Either way I'm happy 😊

Please keep that fire place 😮

@scottxgibson

2 ай бұрын

It’s still there 🔥

@auroraborealis4320

2 ай бұрын

It looks amazing! Nothing beats the original fireplace, it adds character

@scottxgibson

2 ай бұрын

@@auroraborealis4320 yeah I love a good fire place

That's why we need a 5% min interest rate. Houses are crazy expensive compared to average wages.

@scottxgibson

11 ай бұрын

Thanks for the insight.

@xperyskop2475

11 ай бұрын

@@scottxgibson 0% intrest created deluded Sunday landlords that where making profit no matter how good or bad they were. Higher intrest will stabilise or even contract housing market forcing potential developers to reconsider how much they are willing to pay if price of houses is not guaranteed to go up

@scottxgibson

11 ай бұрын

@@xperyskop2475 Interesting perspective! It's true that historically low interest rates have fueled a rise in property investment, attracting landlords who were able to make profits regardless of their expertise or the quality of their properties. However, I'd like to offer a different viewpoint on the impact of higher interest rates on the housing market. While it's possible that higher interest rates can bring some stabilization or even contraction to the housing market, it's essential to consider the broader implications. Firstly, increased interest rates generally make borrowing more expensive, which can make it harder for potential homebuyers to afford mortgages. This could lead to a decrease in demand for houses and potentially lower prices, but it may also limit housing accessibility for certain segments of the population. Moreover, developers, just like any business, assess their investment based on potential returns. If the price of houses is not guaranteed to rise, developers might indeed reconsider how much they're willing to pay for land or property. However, this could also result in a slowdown in new housing developments, potentially exacerbating existing housing shortages or affordability issues in some regions. Balancing the housing market is undoubtedly crucial, but it requires a comprehensive approach. Policies that address affordable housing, promote responsible lending practices, and encourage sustainable development can have a more nuanced impact than simply relying on interest rates. By considering multiple factors, we can aim for a housing market that benefits both property owners and potential buyers while ensuring long-term stability and accessibility. This is the second time I've sold the cheapest house in the region.

@paul_e123

6 ай бұрын

@@scottxgibson Lay off the gpt

how did you get a mortgage / loan on an auction property?

@scottxgibson

11 ай бұрын

Bridging finance.

Well done!!! Can I ask, did you have a bridging loan or ??

@scottxgibson

11 ай бұрын

Thanks. Yes I did. I needed quick finance as it was brought at auction.

@ThePinkPfeiffer

11 ай бұрын

​@scottxgibson thank you for explaining! Will you do anymore properties? Also, could you do a video explaining how the auction process was? 🎉

@scottxgibson

11 ай бұрын

@@ThePinkPfeiffer I will be doing some more shortly. Just trying to juggle two businesses and family responsibilities. I’ll put an auction process video in the to do pile 😊

Did you leave the kitchen tiles under the new flooring? They look like the type that contain asbestos- not really a problem if they’re not disturbed but it would have been a good opportunity to get rid of them.

@scottxgibson

11 ай бұрын

Given the age of the house it’s possible. They were screeded over to prevent any damage and fibre releases. I used to work for a large flooring company and this was standard procedure. If in doubt, seal it.

@whome5810

3 ай бұрын

@@scottxgibson Great effort mate! How did you deal with the asbestos artex celings? Cheers.

@scottxgibson

3 ай бұрын

@@whome5810 the whole house was Replastered. Makes it look better and everything’s secure.

@whome5810

3 ай бұрын

@@scottxgibson It does look good, did they plaster straight onto the existing ceiling or did they screw new plasterboard over first and then plaster?

@scottxgibson

3 ай бұрын

@@whome5810 not sure, I wasn’t there when they did it. The house went from a building site to almost done in a week.

Great video! Sadly 😢 the audio doesn't match the video quality please use a Bluetooth mic in your future videos sounds really bad on TV sadly. Hope you spend some time in future videos to pop by and take some footage of the renovation

@scottxgibson

4 ай бұрын

Thanks for the feedback. I keep meaning to go over and film some more as it’s been a few months. Hard at the moment to find the time.

Nothing jaw dropping. However a super quick reno, so you should do well financially. Could have done a bit of work on the shabby garden.

@scottxgibson

2 ай бұрын

The garden just had a basic clearance. Blank canvas for the next owner.

This was all jaw, no dropping. Talk talk talk.

Kitchen layout could of been improved, very awkward cupboards going into that recess

@scottxgibson

11 ай бұрын

I did think about knocking the wall down but this is structural and would include needing steels and engineering drawings. Would be an absolute money pit.

What work was done painting new flooring kitchen bathroom ?😊

@scottxgibson

11 ай бұрын

Basically that’s it, plus some lights being moved into better positions as well as the whole house being replastered (there was two layers of wallpaper which ruined the texture of the walls).

Looks like a lot of it just needed a really good clean. Did you do that yourself or get a professional?

@scottxgibson

11 ай бұрын

I cleaned and cleared the property (carpets, bathroom, kitchen etc) but as for the refurbishments I had trades people come in. It was pretty dirty… the toilet hadn’t been flushed in a year so you can imagine what that was like.

I believe that you should have attended the back yard too. It would have increased the value and new purchaser would pay more, as it's one less headache.

@scottxgibson

11 ай бұрын

I did clear the garden and cut some trees back too, cost me a grand to get it all sorted. I didn’t include it in the video as I thought it just looked a bit boring 😂

@nancymcclain2533

11 ай бұрын

@@scottxgibson I see very good.

I would have moved bathroom up stairs

@scottxgibson

11 ай бұрын

The cost of this wouldn’t be worth it. Plus the lose of a bedroom would reduce the value of the house. But I get your idea.

@Sophie-kk3st

11 ай бұрын

Do you realise how expensive moving kitchens or bathrooms can be? I couldn’t even justify doing it for my own residence. Keep this in mind when you buy your own house, you want all the pipings where you want them to be, meaning locations of kitchen bathrooms radiators etc.. even moving a wall is way more expensive than people usually think it is. In my opinion the layout of the house is just as important as the overall health of the house, choosing the right layout can save you a fortune

where in the world do you find such cheap contractors? I am looking at updating kitchen, half the size of what you have here and its going towards 10.000. For kitchen alone. How int he world do you do a whole house for 20.000??

@scottxgibson

10 ай бұрын

Unless you’re in London. Sounds like you’re being ripped off! A typical trades person is about 250-300 per day. You can get some great deals on kitchens if you buy during offers and shop around. What’s the quote for 10k include?

@DAKESIS17

10 ай бұрын

@@scottxgibson thanks, it is a rip off, thats why we are thinking not to go through with it. Ripping off the old kitchen, re-plumbing, changing the flooring, plastering, taking off a bit of tiles, new fridge and new cabinets, new sink. The lot, but still.. Oh, and Ikea kitchen

@scottxgibson

10 ай бұрын

@@DAKESIS17 ikea kitchens are pretty reasonable. There’s some bits you could do your self like the flooring (assuming it’s level), tiling and the rip out… if you got the patience. I would recommend giving it a go.

Here's my video on the full bathroom breakdown: kzread.info/dash/bejne/e6yrlrysmcqeipM.html 🔥

You look like Tom Hardy

#TinOfWhitePaint.....

@scottxgibson

Ай бұрын

Big time.

I have to be fair, from what I was able to see from a distance, the bathroom was nicely transformed but then again compared to the starting point, just a shot of the bathroom with everything ripped out would have still been a vast improvement. I understand click-bait titles and the pressure to have them but to get repeat viewers/subscribers better to be understated. Personally I am interested in the actual building/renovation work and uninterested in the property flipping type stuff.

@scottxgibson

11 ай бұрын

Thanks for the feedback. To be honest the house stunk so bad and the only time I took my face mask off was to quickly get this filmed. Next time I will do better to include works as they progress... but with contractors not turning up and causing other issues it was very hard to plan. Hopefully you will stay with me for the next one :)

@sarahstrong7174

11 ай бұрын

Well of course we couldn't see the stink. Did you suceed in getting rid of it entirely?

@scottxgibson

11 ай бұрын

@@sarahstrong7174 Its all lovely and fresh now. But with the carpets being 25+ years old, full of dust, bugs, mould and the toilet not being flushed in a over a year it was horrible to walk into…

@sarahstrong7174

11 ай бұрын

@@scottxgibson Ah. That does sound much better!

👍If you liked this, Then you'll love this Tiny House Tour I did: kzread.info/dash/bejne/nKuj0KWcYs_QqKQ.html

So you put down your saved up deposit 43 thousand or did you get a separate loan, because you will sell it, 40 thousand profit, so you 3 thousand pounds down is that right

@scottxgibson

11 ай бұрын

The deposit was my own money as well as the fees and renovations, which is bout 70k all in. No loans. I’ll get the deposit back plus the profit.

What about this jaw dropping tour of the house we were promised, all talk, not so jaw dropping.

@ilovecatsnteanbooks3971

11 ай бұрын

Give the guy a break, he’s just starting out

@missk1880

11 ай бұрын

Definitely not draw dropping!

@scottxgibson

11 ай бұрын

Hey Suzanne - Sorry to hear the video wasn't to your liking. If you think you can spend more than 15 minutes in a house that's been empty for almost four years and smells horrendous, you're welcome anytime.

@suzannehughes8697

11 ай бұрын

@@scottxgibson your title was click bait, for one thing we didn't see much of the house, just you talking about it, and another is you only did a basic job, which was good but not jaw dropping ,I'm sure you are good at what you do, but that was not jaw dropping, and for your information I have been in houses 100% worse than that, and as it was part of my job I had to spend hours there, you try spending time in houses soaked in pee,

@amalik3934

11 ай бұрын

@@suzannehughes8697 you think you can do better? Stop being an armchair critic.

Dose not look bad just outdated decor and not lived in

@scottxgibson

7 ай бұрын

It was empty for almost 4 years. Felt like it was in worse condition in real life compared to photos.

this is a semi-detached my dude...not a terrace...

@scottxgibson

10 ай бұрын

I know. I was trying to get my words out as quick as I could before another car came along… didn’t notice till after 😅

You didn't deduct capital gains tax on yr profit margin

@scottxgibson

10 ай бұрын

There isn’t any. This was purchased through a business.

Hi I don’t understand your figures, as the purchase price of the house was under the stamp duty threshold for a residential property being £250k. Also legals and fees, no need for building survey as house was not built before 1900, we paid £510 for our 1968 house. Also our solicitors fees were just under £4000. So am puzzled how it’s cost you nearly £14k 🤷🏻‍♀️. Sorry but I think you’ve been conned.

@scottxgibson

11 ай бұрын

Hi Kate - This property was brought pre-auction, so there were other costs such as auction fees, contributions to sellers' legal costs, as well as financing setup fees. The stamp duty is much higher when purchasing through a company also. Perhaps I'll do a video in the future on the costs involved when purchasing via auction.

@Sophie-kk3st

11 ай бұрын

@@scottxgibson would you mind also do a video on buying through a Ltd please? I’m thinking about moving mine into a ltd. Sorry for asking for so many videos 😅🤣

All that effort to miss cleaning and painting the radiators properly!!

@scottxgibson

11 ай бұрын

Well this was an issue with the painter not doing the their job properly. They missed other bits too which has meant I’ve had to take legal action to get my money back.

@ilovecatsnteanbooks3971

11 ай бұрын

@@scottxgibson oh dear, make sure you leave him an honest review 👍🏻

@scottxgibson

11 ай бұрын

@@ilovecatsnteanbooks3971 oh I already have 😂

Nice and clean, but here we go again boring/ugly grey 🙄

@scottxgibson

11 ай бұрын

It’s a blank canvas for someone and come and make their own 😊…but I’m open to any suggestions.

@leonienolan511

11 ай бұрын

​@@scottxgibson natural beige is back on trend , woven not fluffy carpet s

Jaw dropping renovation, where?

@scottxgibson

11 ай бұрын

Glad you enjoyed the video ✅

I am surprised you were able to get good contractors in a 30 day window. You will get issues with quality and mistakes working at such brake neck speeds with your contractors. Best to upskill and learn the basics yourself it will give you more foresight on how to plan work, budgets and timescales.

@scottxgibson

11 ай бұрын

To be fair I had a people lined up from family etc but they had to take other jobs on which left me up against it trying to get replacements in. I did have the intention of painting, flooring and clearing stuff however I run a business which takes up all my time. I had to work everyday for a couple weeks on end to ensure all went well. Before this I used to work in property management and was an estimator for construction company… still have alot to learn I think 😅

@CW-Design

11 ай бұрын

@@scottxgibson I feel your pain mate. I work full time and have been renovating our house room by room for 18 months or so… mainly at weekends. It’s not easy but good luck with it all!

@scottxgibson

11 ай бұрын

@@CW-Design cheers, you’ll get there too in the end!

Make up by mario

@scottxgibson

11 ай бұрын

Thanks alot or I'm sorry to hear that.

That’s a semi detached not an end of terrace 😂and how can you renovate it and leave that hideous 1970s fireplace

@scottxgibson

11 ай бұрын

I noticed I said that 😅 I was trying to get my words out asap as the road was busy. I was going to remove the fireplace but some people like them, it could be repainted or have a fitting go around it to make it more modern.

@juliawigger9796

11 ай бұрын

It's best to leave fireplace as in view of future electricity supplies are dodgy. You can actually charge more rent here in South if there are working fireplaces.

Great, another video of someone flipping property contributing to the problem.

@scottxgibson

11 ай бұрын

The demand for property in the UK is high due to a housing shortage of new homes. Which would take years to catch up on. Councils and housing associations are disposing of their old stock due to the costs of constant upkeep. So they are passing on the responsibility on to private landlords to resolve this. For example this house was left empty for almost 4 years when it should of been given to a small family. Renovating these old houses is the most environmentally friendly way to generate new homes. In addition to this, this particular house is still one of the cheapest in the area. Hope this helps.

@user-nw3xc2tk6y

11 ай бұрын

@@scottxgibson You can't take 40k profit out without taking any responsibilty for contributing to the problem. House prices are too high because of those in a position to flip and there are too many landlords and second home owners. Shelter, warmth, a home are basic human needs and affordable housing should be just that. Fact is, if you guys stopped flipping and landlords stop building a property portfolio there would be a lot less buyers, house prices would be lower and the banks would look at more ways to help people to buy. This is no more ethical than buying stolen goods to me; there's been way too much demand in the market and people need to take stand imo, maybe consider am I part of the solution or the problem and then act?

@scottxgibson

11 ай бұрын

@@user-nw3xc2tk6y House prices go down when the economy isn’t doing well…Then you can expect massive lose jobs and businesses stop investing. If the economy is doing well you can start a business doing pretty much anything and as such there’s more opportunity for everyone. The stolen goods comment is just ridiculous… I’ve paid more than my share of taxes and created several jobs. Sorry to hear you have such a negative mindset.

@user-nw3xc2tk6y

11 ай бұрын

@@scottxgibson If that were true then why is it the economy is on it's arse just now and house prices are effected little if any - we live in a false ecomony Scot, with the state bailing working folk out with tax credits, cost of living payments and many other benefits etc, before you get to the tax relief and bailouts for the big businesses and banks. Lending can not sustain an economy either. Yes, I do have a negative view. I tried for over a year to become a home owner but just couldn't compete - so now we're renting and paying more than I would for a morgage - rubbish huh. It is no longer ethical to be property developer or a landlord. If you are going to do it at least own this. You profit while others pay and get nothing. Only it's not just about money, it's more than that, it means people on lower incomes simply can not buy their own home, safety and security and this impacts on lives negatively everyday. Think on please.

Looks very cold no warmth no sorry

@scottxgibson

11 ай бұрын

What would you suggest 😊

So you painted everything white n a grey carpet I was expecting a wow but it’s just meh.

@scottxgibson

11 ай бұрын

It’s better than it was 👀… what would you suggest for next time?

Sorry Scott you lost me. You’re in for £202,000 with purchase costs and interest. You then spent almost £20,000 renovating so the property owes you £222,000. You’ll have exist costs like solicitors and agents fees. At 250k you’ll make 20-25,000 and depending on whether you bought it within a limited company or in your own name, corporation tax plus dividend tax or personal tax. A sale at 250,000 is not a 38,000 to 40,000.

@scottxgibson

5 ай бұрын

Hey - The numbers were slightly wrong, as I was doing this from memory. All in for 210 including solicitors selling fee's (only thing I forgot was agent fee's). Everything will be reinvested into the next project tax efficiently.

Lot's of bla bla....

You really think a 3 week freshen-up would add £40k to the value?! You wouldn’t even be able to achieve that amount of profit with a loft conversion 😂

@scottxgibson

2 ай бұрын

No, it’s more. It was won at auction for 172k. And since had offers after renovating at 240k.

This video is all about him not showing much of the house