Remote Refurbishment of Latest Golden Goose Property. Whut?!
We’ve heard of remote meetings, what about remote refurbishment of investment property?
People often comment that they saw I travelled to the UK, and ask about the trip. That would inevitably result in a raised eyebrow, a puzzled look as I try to recall when I last went to the UK. “You mean last year?” I would ask. They would then say, “Oh! No, last month I saw you posting pictures of the property you bought?”
Ahh…. Those pictures.. I geddit now. Most people don’t realise that I’ve set up a system to buy investment properties, refurbish, and rent them out, collect rent, and manage it well.. ALL FROM SINGAPORE!
All I need to Buy, Refurbish, Rent my properties: My Laptop, Wifi, my phone, and oh yes, preferably a flat white.
Could it be so simple? Is it for real? Well, it actually is. That’s not to say it’s easy.
“It’s Simple, but not easy. Having the right knowledge makes it simple.”
When I first started investing 9 years ago, Investing in property to create passive income was far from simple. I was confused, uncertain and fearful. I had many questions:
How does it work? Can I really buy properties that would give a positive cashflow?
Which country should I invest in?
How much money do I need to start?
What are the risks I should be aware of?
How do I find people on the ground that I can trust and more..
I began my journey to seek out these answers. After many books, courses, and failed investments, I decided to get myself a mentor and learn the ropes from someone who has been there, done that. That made all the difference. That allowed me to demystify the world of property investment to move forward with clarity, confidence and certainty.
But I digress. Here are the pictures and progress of the latest property which would generate close to SGD $1000 a month in profit for us. (Purchased for about £100k ~SGD $175k)
Before Refurbishment: (Click on next pic to scroll)
First 3 Weeks of Refurbishment: Clearing, Hacking, Open up layout, Create Rooms (Click on next pic to scroll)
Weeks 4 to 6, Plaster, Electrics, Joinery (Click on next pic to scroll)
To be continued! Watch this space for the finished product, which will become a home for 4 tenants. :)
These pictures were all sent to me by our project manager, during our weekly update. (of course they send us their invoice for the build work as well, but that’s another tip for you, to ensure your payment is scheduled, and not paid up front).
Do leave your questions, comments below. Would try my best to respond to each of them.