🏠 From University Dropout to 3-4 Deals a Month with Jess Cleary

Hello, you fantastic, lovely people. Welcome to the Dealfinders Corner, your weekly property talk show brought to you by Property Filter, hosted by yours truly, Asif Omar from the Property Filter team. We are the UK's highest rated platform for finding deals and we're on a mission to empower our property investors and deal sourcer members to find 1000 deals this year thanks to the Property Filter blueprint. The purpose with your Deal Finders Corner is to give you more and the best of the available resources. Invite expert guests who will share with you the latest and most current strategies, tactics and secrets about actually works right now in terms of finding and making deals and the reality of systemizing and running a high performance business in property. It is my absolute pleasure to introduce the rather amazing rising star Trek Jess Cleary on today's Deal Finders Corner. Jess is absolutely on fire in the property world. Based out of Nottingham and she's quickly becoming one of the top property sources and developers with a laser focus on HMOs and flips. She's already turning out three to four deals a month using Property Filter, giving investors a total hands off end to end service. But that's not all. Jess isn't just building an O. Jess isn't just building her own impressive portfolio through jvs. She's also the powerhouse behind Infinite Creative Agency, helping fellow property pros level their brands through killer content and expert coaching. And to top it off, she has just been shortlisted for Young Property Professional of the Year. So what an incredible ride and I'm really excited for Jess to share her story today. So in this episode we're going to learn the complete scaling system that transforms property sourcing from startup to to thriving full time empire. Joint venture structures creating Win Win partnership that accelerates property growth step by step transition blueprint from school to full time property success followed by an exclusive Q and A. So if you have any burning questions, please just put them in the chat box and we'll get to them at the end. So can we give the usual massive, massive Property Filter welcome to Jess Cleary please. Jiant Hands, everyone. There we go. Welcome Jess. How are we on this fine day?

Thank you so much for that introduction. That was really, really nice. I am very good, thank you. Hope you're well.

I am great.

It's an honour to be on. Pardon? Sorry, it's going on.

I was just saying, would you love to share your slides?

Yes, yes, that would be good.

Right.

Is that all good? Can everyone see that?

We can see that, yeah.

Perfect. So this is basically a Document that was sent over to the National Property Awards, so it felt only right to share it with you guys because it summarises everything that I've done in the last year and a half in property. So this is actually now 10 million as of today, which is really good. But I started JNC Property Development.

A year ago, year and a half ago and Infinite Property sourcing back in March 2024. I specialize in providing fully turnkey property investment solutions for clients. So my focus is high yielding HMO conversions and profitable luxury flip projects. Where did it stop?

So yeah, so since as of today it's now 910 million pounds worth of property source in less than 12 months. So I started JNC Property Development and Infinite Property Sourcing a year and a half ago, specializing in providing fully turnkey property investment solutions. So my main focus is high yielding HMO conversions and profitable flip projects. More focused on the luxury side of things where every stage of the process is handled in house. So we do everything from sourcing and acquisition through to refurbishment, compliance, refinance and even lettings. So what we do is we offer investors the chance to get into HMO investing with little to no capital, either with their own capital or partner partnering them up with vetted angel investors. So making my development service truly one of a kind. The service is designed for investors who want to build or scale their portfolio without the stress of day to day involvement. And then with a trusted power team and very very systemized process.

In place, projects are delivered to a high standard whilst maximizing returns. Since launching, we've successfully completed multiple HMO and flip projects and raised over 3 million in private finance. To help investors achieve strong hands off results. My mission is to create secure, profitable and truly hands off opportunities for investors looking to build long term wealth through property. From acquisitions to exit, we have them covered. So I started my Property journey in March 2024 after dropping out of university and I had absolutely no plan. I went into it, went straight into property full time and decided to start sourcing because I had no money and it was a very low barrier to entry. Within two weeks I sourced my first deal and I continued to educate myself and started to grow my business. Now age 22, I am the founder and director of the JNC Group, a business which has four rapidly increasing pillars across sourcing, sales, project management, construction and a full scale lettings and estate agency. Since starting in property, I've been able to leverage my marketing knowledge to grow the foundations of a solid brand and have built up a database of solid clients. Through attending over 120 networking events, sourced and fully project managed 100k plus refurbs and have now given jobs to four amazing staff. My mission as a young person is to educate others that there are other routes outside of university and the world of business and entrepreneurship should be embraced. And then that's just talking about the ward which is on the 27th.

And then the next. So obviously this just a couple of testimonials of the work that I've done.

So here's a case study. So this is Project 91 DL. This was my first 6 bed, 6 ensuite HMO project. Total money in was 197, which slightly increased recently because we had some dump issues. Purchase price was 188, 100, refurb 110,000 GDV, conservatively 400k and sourcing project management fee 12,000. After refinance they left in 38,000, 38,500. And the profit per calendar month when rented out is 1,200. So this was the. I found this on Property Filter. What surprise? The previous floor plan and this was what it was converted into. This was before, during and now after what it looks like. And obviously that's outlining sort of the memo itself. I can't show that because that's private information.

And then another case study. This is actually my own property. Money in 375, purchase price 159 refurb 185,000 GDV 470. And if it was sourced, it was originally going to be sourced and then I bought it. £6,000 two bed semi detached into a six bed, five studio. All ensuite HMO.

And then I've got a couple of other case studies to show. This is a five bed, so two five bed semi detached houses. So one ten bed detached house. We are having some issues with this at the moment. Not 100% sure if it's going to go through, but at the moment I'll still use it as a case study. So money in 1.3 million. Purchase price 615,000 negotiated down from 750k. Refurbished 525 GDV 1.7 million and then left in a £66,000 profit per can a month. Four and a half grand. And then another couple of case studies, all found through Property Filter. Oh, just pause that and go back. All found through Property Filter. This one and then another one. This is the one that I sourced today with Camden, who's actually on the call.

And then this was the first deal that I ever did so jumped straight into the deep end. This I didn't find a property filter but I wish I did because it would have made my life a lot easier. Three bed terrace house into a six bed hmo. This is what it looked like before and this is what it was converted into. Don't have the architect's plans but the total Money in was 160. Purchase price 120. Refurb 85 GDV 280 Sourcing fee 2000 which is daylight robbery. Let me just say that now. And left in was £40,000 and the client made 1,200 pound profit and it was rented out to working professionals.

So.

Sorry, it's now turning into a video. This is what it looked like before and this what it looks like after.

And then a couple of accomplishments during my time in property. Invited to speak in front of 200 people two months into my property journey. Spoke on a panel with some incredible property entrepreneurs in the space. I'm now a co host of Property in Poppydom's Nottingham, which I love. It's such a fun event. Interviewed attendees and speakers at one of the biggest property events of the year and I was personally invited down to Stephen Bartlett's office in London to meet him and spend the day with him, which I still don't believe really happened, but it did.

And then a couple of other case studies of deals that I found through Property Filter. So these are all in the Nottingham area.

This one was found on Property Filter. So was this one. This one was. This one was on through an agent actually. This one was through Property Filter. This one was. So was that one. Pretty much all of them. You get the gist. Were through Property Filter. Only.

Two, I believe were through agents.

So that's what I have for my slides at the moment.

Fantastic, Jess. So let's just have a bit of a Q and A and questions and stuff.

Yeah.

When you first started in property, you mentioned you were at university, you left university, you went straight into the property world. How did that journey happen or that career happen?

So dropped out of university just for the sole reason. It wasn't for me. I just didn't enjoy the lifestyle and I'd been doing marketing for the past about three years. At that point I'd done internships, I went traveling and kind of sustained traveling by doing work on sites such as Upwork and Fiverr. So I had a lot of experience in the marketing space. So when I dropped out of university I kind thought, right, so how can I Make some money. What am I going to do? What's my career going to be? And it was, right, let's start marketing agency started that really, really well. Signed like five clients in the first month, but they all seem to be in property. I don't. It just happened. One was an interior designer, two HMO developers, one was a sourcer and the other one run a construction business. So it was in and around property every day, kind of by accident. Being around all of it, I just instantly loved it all. I loved the thrill and kind of seeing all of it being transformed. And obviously I did this for six months, the marketing agency, before I got into property, so I was able to see transformations of property, things like that. And I always used to kind of have an inkling towards property. I used to pretend that I was sick so I could stay home from school and watch Homes under the Hammer. And my mum says that she remembers those times and she always knew I wasn't sick. So I've always kind of had it there, but I never really knew what I could do with it. And then dropping out of university, it was kind of. It just became apparent that this was a career that I could choose. I then went to a networking event to get more social media clients and it was actually like a training day. Really enjoyed it and just decided that I was going to start in property. I just decided it's one of those things, I think no one really, unless you set out to 100%, you always know you're going to be in property. You don't really.

Have like a turning point. There is just a day you decide that you're going to be in property. And I just did in March 2024.

Fantastic. So March 2024, that was the big move. How long did it take to get to your first deal then and tell us a little bit more? I know you mentioned about it two weeks, but what steps did you do to get to there?

So I actually sourced it for one of my social media clients, so I already knew what they were doing, what they were looking at. And I think evenings and weekends when I wasn't doing stuff for the marketing business, I would be on right move, looking at properties just out of interest. And I came across something and it was internal footprint was 134 square meters. I remember this so clearly because I was like, that's huge for a house. I sent it to him and I said, look, what do you think of this? And he said, that's actually a really good deal. So he said, can, can you Go and view it, do some figures on it. I can run you through it. Like I'll basically teach you. Essentially. I was doing this training already, but he was also doing this day in, day out. So I went and viewed it. I didn't have a laser measure at this point, so I took an actual tape measure. So you can imagine how difficult that was to measure the rooms. Sent him all the details and he said, yeah, this is a deal. He said, I'll pay your sourcing fee. And it was kind of by accident and it was like the turning point again where it was like, okay, if I can do that, I can do 10 others, 20 others, 30 others.

Fantastic. We mentioned that you're sourcing three to four deals a month now and you're using Property Filter. So for our community members, have you got any tips regarding using Property filter to find HMOs?

It's interesting because that's dependent on area. I would say my favorite filters on Property Filter is higher Surface Area. That's a game changer for me. That's the one thing I love about Property Filter is the below Market value filter and the higher surface area. Those just save so much time.

I before when I wasn't using Property Filter. So I only started using property filter in October 2024, so less than a year ago now. And before I was spending every day on rightmove doing like certain postcodes and looking in certain areas and doing all these filters and it would take so much time. And obviously now with Property Filter you've got the lead gens and that just saves so much time. But being able to then add those additional filters like the EPC is really good for me. Surface Area, minimum Surface area needs hit things like that. That such gem.

Yeah, no, I agree. That's exactly how I look for properties and HMOs on there by just doing this, you know, square meterage. You've also mentioned flips as well. Is that something that you do as well? And what do you look for in a flip on Property Filter?

Yeah, so flips are something that I do alongside the HMOs just because a lot of clients don't have the money for HMOs to start off with and they want to use their own capital. So we'll do a flip and then they'll go into HMOs. The one thing that I use on Property Filter for flips is like I already mentioned the below Market Value filter. I think that's so, so good to use. I think it's also really good to identify.

Opportunities that aren't marketed correctly. So obviously on property filter you've got terrace, semi detached and detached houses and obviously then bungalows and then others. A lot of things will be marketed as other residential when it's a terrace house. So it will show that it's significantly below market value because it's assuming that it's a certain type of house. I'm not sure how that works, but it's really good at identifying those because sometimes they'll be priced significantly lower than they should be because the agent hasn't been able to identify that, if that makes sense. So using that filter.

I really like the negative equity one that works really, really well. Seeing people that are selling property quite quickly, especially if they're selling it for less than what they bought it for maybe two, three years ago, that just shows motivated seller things like that. That's what helps me identify flip opportunities.

Brilliant. And in terms of flips and stuff, how many viewings would you say you go to and then you have an offer accepted in terms of flips.

Oh, so I worked this out the other day. My.

I think I close 54 of viewings I do now, not before I did 200 viewings before I closed my second deal.

Okay.

So massive learning curve in that. But yeah, my close rate is 54. I'm pretty sure over the last three months is 54%.

Brilliant. And what would you, how many viewings would you say you do a week at the moment? Because you're obviously full time in property now you've got the time to do it. How many would you say you do?

Probably on it depends. I'll have weeks where I'll do like loads of viewings and then I'll have weeks that I like. This week I've only done one and we'll probably only do one more. I probably say six a week.

Six a week.

It depends what clients want, how many clients are actively looking, what I've got in the pipeline, what I can find.

What off market deals I've got, etc.

So. Okay, and you say 54 of them, you get an offer accepted. That's correct. That's incredible. Yeah, yeah.

Congratulations.

Yeah, I do a lot of due diligence on the property, as much as I can before I view it, so. And also I do a lot of communication. I communicate a lot with the estate agents before, so I want to know why they're selling, what sort of offer they'll take this and the other before I even book the viewing because then I know if it's Even worth my time because I have done the months and months of loads of viewings and no deals sold and it's just a waste of time.

So I've got a couple of questions. So you say you do a lot of. Can't say that word, always say it, hard to say it. But what do you use property filter to have a look in terms of. In terms of the deals that you're doing?

So a lot of property deals that I do are social housing HMOs, so the LHA rates really, really help. Saves me a lot of time rather than having to search up the local council lha rates. Article 4 Massive 1. Like I said to you before most people joined, the property that I sourced yesterday is one house away from Article 4 boundary. So that's a massive thing because obviously if I'm selling a deal, selling an HMO deal to ensure that it doesn't need planning in order to go through.

The direct to vendor letters, I use that a lot. I just produced 300 that I got printed yesterday that I'm going to be delivering to certain houses.

Sold comparables. So being able to see what's been withdrawn is massive as well, because obviously on Rightmove and Zoopla, you can only see what sold, subject contract, can't see what was sold. And then also Lionbridge.

Lots of different things. Yeah, those probably my main three that I use it for.

What about the amenities? How close are you to, let's say, train stations, supermarkets?

Yeah.

What do you look for?

Yeah, massive one. I think I use property filter for that less than I should, but I do my own, if that makes sense. So when I go to the property, I'll then go on a drive. I always allow like an extra 20 minutes after the viewing to do a drive and kind of do like video tours for the investors.

But yeah, it's definitely something that I should use and it is really good. I have used it before and being able to show it on the map as well is really good.

Brilliant. And you just mentioned social housing. So a lot of our community members are into social housing or would like to do social housing. So my question to you would be, what comes first? Does the provider come first or does the house come first?

That's an interesting one. So it depends on the client. For me, a lot of clients come to me and have their own providers. I have connections with providers already. So the way that I'll do it is a lot of these providers will send me lists at the start of the month of postcodes that they're taking on. I'll then go to the client and say, look, I know you're looking for social housing. These are the areas that we've got. Let me look for some deals and I'll tell you what sort of budget we're working with. I then go out, look, find some deals, I'll send the provider the postcode and then they can tell me if yeah or no. And then if they say, yeah, I'll get it in writing and then we'll go ahead with it if investor obviously wants to. So I would always say having. If you're going to sell social housing deals as a source, always make sure that you've got a provider that you can talk to about these deals and know what areas they're taking them on in. If you're an investor, I think doing research and doing due diligence on areas and providers. So, yeah, to answer your question, I think the provider does come first before the deal because you could have a deal, the best deal in the world, and be scrambling to find someone and no one may operate in that area.

So for the people who want to go into supported living or social housing, what tip do you have for them?

Do your due diligence on the provider massively. Think about maybe not even using a provider and going to the council direct. That's a massive one.

And ensuring that you've got something in writing before you purchase the house. Because a lot of providers will pull it from you. They'll basically say, yeah, we'll take it on. And then you take two, three months to complete and they go, actually, we're not. That area is now closed.

Fantastic. Okay, so you mentioned your. I think one of your earlier deals, you were going to source it off, but then you actually bought it yourself. How did you raise the funds for that deal?

So I went up to someone. So basically I'm from down south, I grew up in Berkshire and I was home for Christmas and I went up to a guy that I knew had money, a business owner in the local town, and I basically said, I've got an opportunity for you to invest in, and presented him the deal and raised finance from that.

It's just as simple as that.

Yeah, yeah, it is just as simple as a conversation and a couple of drinks as well. Helped.

Did you know him already?

No, no, I didn't.

Oh, okay. And how did you reach out to him?

So I obviously introduced myself at the pub and I said, hello, nice to meet you, I'm Jess. I'd like to present a business opportunity to you at the time. Probably wasn't the best environment to speak about it. So I said, let's meet up for a coffee, I'm here until the 3rd of 3rd of January or something like that. Let's meet up, let's go through it. Met up with him, went through everything and he said, I'd like to discuss this further. And then we had a couple of other meetings after. Then came across this deal and really, really liked it for myself. The figures were really, really good. I don't source anything on that. I went by myself anyway, so it just was kind of a no brainer. Anyway. When it didn't sell immediately, I thought, okay, well I've got this guy, let's talk about it. Presented the deal and he was up for it.

So fantastic. Why do you think it didn't sell immediately?

I think it was just I didn't have the client for it. Yeah, not that it was nothing to do with the deal. Just at that time I'd fulfilled all my investors requirements. I co source quite a lot. Like I touched on. I sourced one with Camden because all my clients.

As being fulfilled with the deals that they wanted.

Brilliant. So was the, was it a joint venture then with this new business partner?

It's a sort of joint venture agreement in the sense that we're joint venture partners until all the money's out and then it's an interest payment.

Right, Okay.

I structured it in the way that worked best for him, but also for me because I would rather own the asset outright rather than be in a joint venture partnership. I only really do joint ventures on flips.

Right, okay. And what do you look for in a joint venture partner? Because quite a lot of our community members are always looking for joint venture partners. But there's a few pitfalls as well, of course, with joint ventures, 100%.

I think someone who is adaptable in the sense that they will look at a deal in certain. In different ways and they're not scared of investing. I think I've spent more time trying to talk someone into an investment than selling deals at certain points. And it's not.

The deal's not good. It's because they don't understand it. So someone who knows that when they're going into a joint venture partnership that this is what is expected of them and this is the results basically. And transparency, communication, able to pick up the phone. I don't go into joint venture partnerships with people that I don't feel comfortable with being able to pick up the phone and tell them when something's gone.

Wrong and I think you've already touched on it. But how do you find joint venture partners?

A lot has come through social media. So like I said, marketing background. So social media came of ease to me when I started just putting myself out there. Networking events, word of mouth. A lot of my, A lot of my clients come through recommendations.

People that potentially come to me looking for me to source them a deal and then they're not that comfortable in buying it themselves and they don't really know what they're doing. So I present them the opportunity of a joint venture. If it's a flip and go, would you like to do this? Then you've got a bit more security, we've both got some skin in the game and go from there. So it's, yeah, a multitude of different ways.

Brilliant. So we're going to go back to HMOs and we're going to go about how to find HMOs and the requirements that you look in. So we've got a question from Nicole and it says, what is the minimum square meterage you are putting in your criteria for surface area for a hmo? And flip it says as well.

So it depends. So we do two different types of HMO conversions. When we talk about six beds, it's a two, three bed terrace house that's converted into a six bed, five studio and that's where all the floors, all the walls are taken out. We do complete new restructuring, new joists, do an L shaped dormer, loft conversion, rear extension. And the minimum size for a property to do that is 72 square meters. And the top floor, existing top floor has to be 36.5. So that's the one way we do it. Another way for a six bed, if you're only doing internal reconfiguration and you're not doing dormers and extensions and things. 120.

Fantastic. And is it just six beds you do? Do you do five beds as well?

Yeah, I do. Well, I do four beds and six beds. I haven't actually ever done a five bed.

All right, okay. And so how come you haven't done a five bed? Why the four bed and then the six bed?

So a lot of clients want to do six beds so they can get commercial valuations on them. And then a lot of clients want to do four beds where it's simply like a two, three bed terrace house and they'll put up a stud wall. So it's the simpler, simpler version, five beds, really, really difficult to price up. I find in my opinion, in Nottingham, because there's not a lot of comparables of five bed terrace houses that have been sold on the market. Four beds easy, six beds. We've got proof from remortgages and pre vows.

Okay, fantastic. So we've got another question. It is, can you take us through the process from first inquiry with the agent to viewing offer and follow up?

Sorry, repeat that again, you cut out.

So it says, can you take us through the process from first inquiry with the agent to viewing offer and follow up?

Okay, yeah, of course. So if I was on property filter and I found a deal that I would, I liked, I would look at the property, do some basic checks. Article 4 area, what's the current surface area? If it's not on property filter, I'll find the address and look on EPC register. Then what I will do is I will look at certain things like if it's shared access, bin access at the rear, if it's a terrace house, we can't do an extension, so that won't work, things like that. So everything that I can do just by looking at a listing, essentially, I'll then look at.

Comparable rental for HMO rooms in the area and see what they're achieving. Because certain areas in Nottingham, even though I know them very well, can vary. So that will happen. Then I'll call the agent and say, hi, I'd like to book a viewing on this property. Can I ask a couple of questions? I'll ask them, why is the manager selling? Has there been any offers? How many viewings have been, have been booked in or have occurred and.

It'S difficult. It depends on the deal. But what sort of leeway is that in the asking price? Because agents are more likely to be upfront with you? I've built a lot of relationships with agents, so they are most of the time upfront with me. Then if it all kind of matches what I'm looking at and where I need to go and what sort of figure I need to target at, I will then book a viewing, go to the viewing, do all my measurements, do all my checks, do due diligence on the area, drive around like I said, check what needs to be refurbed. So with these larger 185,000 pound to 200,000 pound refurbs, it's pretty standard. There's no sort of issues that aren't already tackled within that refurb. But if it is a smaller project or an HMO that's not being massively reconfigured, it's Is there damp? Are the existing rooms big enough to meet minimum room size requirements for not only ensuites, but studio rooms, things like that. Checking if the roof needs to be done, going up in the roof if possible, checking the joists, are they damp? Do they need replacing? What's the pitch height of the roof, what's the.

Ceiling height of the actual rooms? How much can we lower the floors if need be? Things like that. Um, and then just kind of pricing it up in my head as I go around. I know from experience how much these things are going to cost. Whether it's a BRR or a flip. I know how much essential heating replump, et cetera. So I'll price it up in my head and then what I will do, I'll go home and I will analyze the deal with everything that I've got. I'll then submit an offer letter to the agent in writing, they'll follow up with a phone call and then I'll just wait to see if it's accepted or not. And then another thing that we do is if it offers accepted, will then go get a survey on it. If anything comes back in, the survey will then renegotiate. So the property that I bought that was originally on for 170, got it for 162, 500, then had a dump survey on and then got it for 159.

Fantastic.

So we're talking about now the process of finding HMOs and then the due diligence. You go through it. But how do you price the refurb and what type of contract do you use with your build team?

So pricing the refurb is from experience.

So knowing how much things cost, I think because I've done so many of these now or seen so many of them done as well, I know what sort of price we're targeting.

It's really difficult for me to explain how I would price things up. That's just from experience and knowing how much things cost, especially for an HMO and knowing that things are very, very different. So in a three bed terrace house, if you're flipping that, it's going to be a lot less than making it an hmo because you've got fire safety, instinct, smoke alarms, everything, fire routes, there's a load more that goes into it. And then just yeah, check in with my build team, they'll come around, they'll do a quote. Obviously they're the professionals, they're the ones that will do the work.

So yeah, so does your build team quote before the offer is made or after the offer is made?

After the offer's made, yeah.

So you've done all your work, you know, you know your numbers and then your build team comes in and does the quote for you there.

Yes. So the build team comes in after the offer has been accepted and it's been placed with a client.

Brilliant. Okay, so the next question is how do you secure a deal and then sell it onto an investor as that times time in between? So I think what they mean is how do you secure a deal and then sell it onto investor? When do you know when an offer's been accepted with the agent and you haven't quite got the investor there and then.

Yes. So the way that I tackled that and I did it pretty much from the start is I only work with bespoke clients, so. Well, I'll explain more about it. I majority of the time I only work with bespoke clients. So they pay me an upfront fee. I go out and find the deal. I will tell them about the deal as and when I'm viewing it, as and when I'm stacking it, and then as and when I'm putting in the offer. So they're there throughout the process. So when the offer gets accepted, I will then say to them here's the deal, they'll either say yes or no. If they say yes, it's theirs. If they say no, I then will send it out to other clients and then other potential co sources. So everything is pretty much done within 24 to 48 hours. Now another way that I also do it is I'll secure it with my proof of funds and then during the conveyancing process that will be switched over to the client.

Brilliant. Okay, so the next question we've got is what do your figures look like on flips? That is average net profit target and what is the best way to add value with flips?

So the probably one of the best ways to add values with flips is reconfiguration. Small internal reconfiguration. So turning a two bed into a three bed. Can you move the bathroom somewhere? Can you flip the stairs and make the existing bathroom a box room and put a shower room behind the stairs, things like that. Looking for really, really rundown houses is obviously a game changer.

Small things. I think not all refurbs need to be big refurbs. You can do a 15,000 pound refurb and still make X amount of profit. Looking for below market value deals and just being creative with the way that you look at properties.

Fantastic.

And the other question was what do I. What's the minimum target that I make on a flip? I won't look at a flip unless it makes my client 30k.

30K?

Yeah.

So a minimum of 30k. Is there a specific return on investment on top of that or is it just 30k?

So it's normally 15% with cash, a little bit less with bridging, but yeah, 30k is, it's sort of a sweet spot and a lot of investors that I work with are clients that have raised finance so they need to factor in paying back their investor their interest. So 30k gives them some leeway and still some profit on the side.

Brilliant. And what would you say your average purchase price is for a flip and then the average like works that you do on a flip and then average.

End value, it massively varies. So a flip that for was a 140 grand purchase, 40 gram refurb and then the GDV was 47275. Sorry. And then another one that I'm sourcing at the moment that's going through is 172, 500 purchase, the refurb's 90k and then the GDV is 350.

Fantastic. So big numbers there. So 90k is a big refurb. Yeah.

Flood. It was flooded in 2023, so it's 35000 pounds of dump work.

Wow.

Yeah.

Right, okay, that's big.

Yeah.

The next question we've got is from David and it says what is the typical average time for the refurb?

For what sort of refurb? That's a very open ended question.

Very open ended question.

I suppose it's just you, it says lol, just your average refurb. So how long would you. So went for a project on average.

And then an HMO project is 16 to 22 weeks refurb. That's our average time and flip. Depending on the level of work, probably about eight weeks. With flips we aim to be in and out within six months and HMOs in and out within nine months.

Brilliant. Okay. That David says that helps. So you've answered the question. Brilliant. So the next question we've got is from Nicole and it says if you don't have proof of funds yourself, would you say it's best to get proof of funds, solicitor info, etc. Just before putting an offer. So if, if it's accepted, you can send the info on immediately.

100%. That's what I do. So when my clients sign up with Me, I get them to send me their proof of funds, proof of id, proof of address, company name and.

All the ID for the directors within the company and I'll store that in a folder. Then when I go to put in the offer, if they're happy with the deal.

Sorry, when the offer is accepted, if they're happy with the deal, I. Then it's built into my contract that I have written permission to send all the details directly to the estate agent.

Brilliant. Okay, so I think it's time to start wrapping things up. So the question I always ask our every guest that we have on here is, how can our wonderful community members help you? And how can you help our wonderful community members?

Hmm.

If anyone comes across really good deals in the East Midlands, please let me know in desperate need. I've got a lot of clients and not a lot of stock at the moment. But also, similarly, if you have clients that are looking in the East Midlands, feel free to always contact me. My social medias are Jess develops on Instagram and Jessica Cleary on LinkedIn and a reply to all my messages.

Fantastic. And we'll put the, we'll put the link in, in the, in the community as well once we've edited this as well. But have you got any final remarks for today?

No, not unless anyone has any questions.

I think that's perfect. Time to wrap it up. So I appreciate you joining us just today. It was an absolute blast. Thank you so much. And I'm sure our community members got so much value today because the amount of stuff that you've said, I'm sure everyone's written loads of notes down. Brilliant. Really, really. Thank you so much for joining us today.

Thank you for having me. If anyone's got any questions that they didn't get to ask, feel free to message me and I'm happy to answer them.

Brilliant. There we go. So thank you very much, folks, for joining us on another. On another deal, Finders Corner. So who do we have next week? Well, we've got David Giraldo in the hot stuff. David started his career as a qualified international lawyer before making the leap into property across Liverpool, Manchester and London. With his global, global experience, he's been involved in over 100 deals and has built strong connections with investors from the Netherlands to Hong Kong. So if you're interested in running a UK property business but building connections worldwide, then this episode is for you. But for now, all that's left to say is the usual. Visit propertyfilter.co.uk log onto your property Filter account, check out the deal blueprint. Define your gold mine area. Engage with motivated sellers. Assess properties in seconds. Load your pipeline and make deals. Have an endless supply of deals. Join the top 1% and become a high achiever deal finder. So that's me, Acid from Property Filter. Looking forward to seeing you all again next week. But in the meantime, go and grab them deals. Thanks folks. Have a great week everyone.