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I've been on his emailing list for some time and most say I'm impressed by the range of services he offers and he appears to be very credible in my opinion. Try looking at the options on the navigation bar at the top of the home page.
http://www.propertyhotspots.net/
He advocates buying properties in high rental yield areas of the UK(typically 10%)and letting any capital growth take care of it's self.
I find one of his most attractive services is providing a fixed cost refurb. package based on number of bedrooms with a guaranteed turnround of 28 days.
Anyone joined up here or have any experience of the services he offers? |
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Hi Robin,
Like yourself I have been following Ajay�s successes with his website �as well as from his books. I have not yet used the service, but I will based on his reputation. The fastest I can turnover a property from shell to rental is 3 months. So it makes for good business practice to save a couple of months.
Regards, Malik |
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Hi robin
I must admit i find some of Ajays claims interesting, especially the deals he offers in the USA . He also offers some good information, but as far as parting with my money goes i prefer not to. I would tred with caution on the reburbs because there are not that many good tradesmen out there.I have quite a bit of experience in refurbs and to do them properly and quickly it costs a lot of money.I should imagine Ajays are cheap and cheerfull and not to such a good standard.He will also be taking his cut. (Just my opinion of coarse)
Regards Matt Fuller |
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He charges £6500 to refurb a one bedroom flat with most of the expense being the kithchen and bathroom then the wood laminate floors. Other than that the place is painted from top to bottom and some fancy lights fitted in each room. The property needs to be in good condition, the new bathroom suite and kithchen going back in the same place as the old ones.
He claims to have put together a selection of good tradesman as a result of being ripped off when he first started in the game. It would be very much in his own interests to look after his customers and especially first time customers. I say this because of all the other services he has on offer for the successful propery investor.
I am tempted to give him a try on my one bedroom flat when that needs a facelift probably some time this year.
Matt, I totally agree with you when you say there are not that many good tradesmen. Do you think that £6500 for what's on offer is cheap or expensive assuming the standard of workmanship is decent and the quality of materials mid range?
Malik, if you do try him first let me know the outcome, thanks.
Thanks
www.fastlet.com
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hi robin
since had a look what he is offering ,and it does look good condsidering there should be no time taken up organising things all yourself.As far as £6500 for a studio goes it sounds quite realistic for a decent job.
On full houses the prices look realistic, but i always find that these jobs end up costing more than you budget for because you always find problems once you start stripping the places out.
I just wonder whether once ajays guys come out to look at the job whether they will start putting the price up because certain things arn,t what is covered in the fixed cost.(just my scepital attitude!)
Keep us posted robin if you have a go, because if it is as good as it sounds,it is tempting.
Good luck mate
Matt |
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Thanks for your comments Matt it's nice to hear from someone with experience of refurbs.
The £6500 is for a one bedrooom flat so it sounds even better value. He states on fastlet that he does require an honest appraisal of the property to be refurbed and that his quote is all inclusive. The flat I have in mind is not that old, built in the seventies without any alterations and is in good condition so there should n't be any unpleasant surprises. I may give him a go, it'll be a chance to get to know the guy and his set up. Will report back if I do.
Cheers. |
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Matt,
You make some interesting points. In his website, AA claims, and I quote --- We WONT ---
1. Charge you any more than the agreed price – the agreed price is the price you pay. If there is extra work that needs doing for us to complete our refurbishment work then this will be at our expense.
If taken at their word, this implies no further expenses based on their own calculations having reviewed the job….
I’m due to close another deal very soon. If all is OK I’ll give AA’s service a go after the first AST.
Robin, if you get to meet and know him I'm sure you will learn a lot. I admire his business acumen and feel that we could all learn to bend the system to our advantage e.g. credit cards, loans and the like… I guess it’s a matter of courage. I so very tempted to look further into the USA deals...
Regards, Malik
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Malik, yes the returns on the USA properties are fantastic and as AA is in this for the long term I'm sure he can dispel any investors doubts.
Looking at the construction of the properties I'd be concerned about the amount of wood used. Dry rot, damp rot and woodworm all spring to mind not to mention the cost of buildings insurance. Having said that a good survey should rule this out. Perhaps it's just healthy scepticism on my part. ;-) |
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I would love to hear from anyone with actual owner experience about these areas in the US. I just returned from a factfind and the reality on the ground seems to be one of drug raids, evictions & redecorating for next tenant, voids, migration, repairs...Even a local police officer wants to sell his remaining 2 properties. The sellers are remaining local and 'out of state' investors who want out; buyers are out of towners!! These impressions take a while to became evident. |
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I contacted the company for some testimonials. They gave me two. One lady purchased in November and had yet to have her property upgraded and rented out. If this is their best..... |
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I would be grateful if anyone could let me know whther they have used the setvices of FASTLET.COM and whether it is as good as they claim to be |
