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Refurbishments with Creative Options

Property investor and developer Yvonne Emery offers her thoughts

Whatever type of property you base your strategy on, sooner or later you will need to do some refurbishment work, either minor or major. In the current market where property prices are now flourishing, some people are paying more for properties than the potential profit that can be made from them, so how are we supposed to keep finding refurbs to do, or even better, to do them without having to spend too much money?

There are three key rules that guide us to the best deals and ensure they will also be profitable.
1. The power of the bedroom
2. B Quadrant Business
3. Putting other people first

These have turned my basic portfolio into a very lucrative property business.

1. The power of the bedroom
What is the increase in price of a property where you live when you add a bedroom? If you buy a 2-bedroomed house what does it cost?  What about a 3-bed or 4-bed? The difference is the bedroom price.

"You need to decide if you are buying around where you live and find the strategy that works where you live, or you need to decide on the strategy and find the location where that works best."

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