Keys collected for our 1st BRRR and we’re in. A lot of work to be done and noticed a few damp issues we need to deal with. Strip out to commence on Thursday so keep you posted 🏠 1st of many 🤞🏻

Strip out is under way and looking forward to getting stuck in. We have a problem room which is the living room. Severe damp and floor is coming down! All to be stripped out and see what we’re left with. This property has been empty for two years so it’s not unexpected and we had budgeted for new flooring Anyone has damp issues and have any advice as that’s my worry at the minute.

What’s everyone up to today? Are you viewing properties, working on a refurb, doing the kids football run or having a lazy one? Tonight I’m off to the Co-op Arena after being invited by one of our lenders Together. It’s a good reminder that property isn’t just about deals and numbers. You build those relationships by turning up being straight with people and doing what you say. So drop a comment and tell us: 1. What are you up to today? 2. Which relationship has made the biggest difference to your property journey?

Most of you will buy a property that's empty, whether it's ready to let or needs some work before tenants move in. Something worth being aware of is that not all unoccupied property insurance provides the same level of cover. Some policies offer very basic protection, sometimes limited to fire, lightning, explosion and aircraft damage, which does not give you any real protection! Depending on the policy, you could be missing cover for: Storm damage, Flood damage or Theft or malicious damage. When getting quotes, don't just compare the price. Ask whether Full Cover or Enhanced Cover is available. It might cost a little more, but could make a big difference if something goes wrong. Also, pay attention to the policy conditions. Some insurers require regular inspections, additional security measures or other precautions whilst the property is empty. Every insurer is different, so it's important to understand exactly what you're covered for. The cheapest policy isn't always the best value! When buying an empty property, do you normally arrange a basic policy or look for wider cover?

Quick update on the AI I set up to bring me property deals every day. The good news is that it’s working I’m getting a list of properties in my target areas that meet my criteria and it reviews each one for me. I’ve attached a screenshot so you can see what it looks like for each property I get - The asking price and a max offer based on yield - Estimated rent and gross yield plus a lower rent scenario on some so I can see if the deal still stacks up - Rental comparisons - What it can see from the photos, and what I need to check - A verdict such as “first choice” or “a research lead not a cleared deal” I like that it separates what’s confirmed from what’s only estimated and it even flags when it can’t verify a listing. It’s not just telling me what I want to hear. The bad news is that I’m not sure the refurb side is calculating correctly. Looking through the results that part definitely needs some tweaking. I won’t be buying anything just because an AI says so before spending a penny I’d still check the numbers, speak to agents and walk the property. Photos won’t tell you what’s going on in a cellar or how old a boiler is. If it gets me from hours of scrolling to a shortlist with my morning brew that’s a big win. I’ll keep tweaking it and let you know how it goes. If you had this landing in your inbox every morning what’s the one thing you’d want it to check on every deal? Tell me in the comments and I might build the best ideas in.