Despite having business backgrounds and knowledge, neither had much property experience and as such their investment journey started with a steep learning curve.
After quickly realising that property investment was more profitable than their day jobs, Phil became a full time property investor, and Mark spends around 80% of his time on the business.
Between them they have completed hundreds of refurbs and developments and are continuing to expand their property portfolio.
In this interview, you'll learn:
- Why Phil focuses primarily on mixed-use schemes
- How Phil sources good investment deals
- Phil's rule of thumb when deciding if a project is worth doing
- What criteria make a mixed-use property successful
- How he sources good direct to vendor deals
- What returns Phil looks for on a flip
- How he learned to manage refurbs
- The importance of having a contingency
- Where you can cut costs on a refurb
- What elements you should spend extra on when doing a refurb
- How Phil maintains good relationships with tradesmen and merchants
- The biggest mistake people make with their early refurb projects
- Phil's predictions for the property market over the next few years
- Phil's website
- Follow Phil on Twitter @PhilStewardson or @Stewardson_Devs