Yvonne Emery was our headline speaker at March’s PIM and a packed room listened to her engaging talk on property renovation and “flipping” – selling on, at a profit.
Yvonne is a professional property investor who started renovating properties in 1997 and now has a portfolio of properties including several flats, 2 and 3 bed houses and 5 and 6 bed HMO’s (Houses in Multiple Occupancy).
Some are financed through Joint Ventures (“using Other People’s Money”).
Plus she has rental properties in France and Bulgaria (which she sometimes advertises on Ebay).
Yvonne also revealed some wonderful pics of her own wonderful 11 bed property, near Peterborough – a great example of the reality of the lifestyle successful property investment can offer – with plenty of “walk the talk” – as the property includes a building plot which ultimately will finance the purchase and renovation of the main house.
But it didn’t start that way. Her first property was a derelict terrace in North Wales, which had been on the market for 6 years! Undaunted, she renovated the property and sold it on for twice the price she had paid, 14 months later.
Her highest cash-flowing property now brings in £1,200 net per month and needed a deposit of just £20,000. With £15k added for refurbishment and furnishing, the Return on Cash Invested is 41% – you won’t get that from your bank manager!
Yvonne also talked about alternative strategies and the potential pitfalls with them. For example, rent to rent strategies where it’s just so important to choose well located properties. Rent Options – which won’t work if the owner has too much equity invested. Of course, all these strategies can work well too, as long as you set them up correctly.
Throughout, Yvonne emphasised the importance of good negotiation techniques – and the need to be generous too, in order to get deals done. They just won’t happen if you are tooo tough – everyone needs to do well out of a deal – and this will make for successful JVs overall.
She demonstrated this only too well with volunteers from the audience and a Rubik Cube!
(If you want to know more, come to the next PIM and find out what was going on from those who were there!)
This was a great evening, with more presentations from Matt at Karma Mortgages, who gave a brief overview of currently lending trends and availability – and our own Rob Brown, who highlighted some of the exciting options on offer here with us.
Everyone who was there learned a huge amount – and went away inspired, after plenty of networking!
We’re looking forward to seeing everyone at the next PIM on 24 April in Bristol, when Gavin Barry is our headline speaker.
To your Property Success
Del Brown, Property Options