I’ve never been to North Africa so I jumped at the opportunity to take an impromptu break with my Brother and sister in law. My Brother is one of my best friends and he only gets June off each year as this is when the footballing season ends. Visiting this diverse colourful kingdom of rich culture was something that I could not say no to.
Our goal was to simply spend as much time as possible together, catching up, putting the world to rights and to ensure we kept our itinerary as simple and as chilled as possible. (Think late breakies, long beach walks and poolside lounging.)
Soooo, I closed my laptop on Wednesday evening, popped it into my new mustard ruck sack, Which I love and in that moment, was reminded how grateful I am to live such a transient lifestyle and have the Freedom to go wherever, whenever because my business is now structured to let me do so.
We stayed at the 5* hotel of Mazagan Golf and beach resort and it did disappoint! 11 Restaurants to choose from, multiple on site activities including paint balling/ quad biking and jet skiing, also for those with kids, their kids offering is one of the best I’ve ever seen, rivalling the likes of the Ritz and Four Seasons programmes, and would amuse even the most difficult to please child
DREAMY MOROCCO
MAKING 100K ON THE WAY TO MOROCCO
I don’t usually buy deals from other people…In fact in my last post I shared, we weren’t even planning on buying another property deal until we come back from our summer family trip in South East Asia in September. However..
Really good deals are very hard to come by. You can’t control when it will happen. But when it does ya gotta move fast!
I do have a keen eye for a deal and for detail. I saw a deal come up on a facebook forum (which can be a great place to look for good property investments.) However if I’m really honest and I think it’s very important to note, in my experience most sourced deals aren’t good and don’t stack so I rarely buy a sourced deal.
It’s important you take nothing at face value and you know how to do your Due Diligence on a deal and the person sourcing it.
Anyhow I chucked it in my flip calculator and when it said it would make me 100k as a flip (gross) it was a blooming now brainer.
Now I then went on and did a few more hours of due diligence to ensure that it was the real deal, but now I am incredibly excited about it and think it will 100% make me close to 100k gross.
You can see me talking about it below in my facebook group below you can join here
TOP TIPS FOR ANALYSING A DEAL
An easy way to work out what something is worth is to divide the total square footage of the property against the price. Once you have this compare this against sold comparables to check you are buying below market value.
You must check that you have strong sold comparables within 1 mile of the property you’re buying this will ensure that once you refurbish your property you’ll be able to refinance your money back out or sell it for a good profit.
Ensure you’re comparing apples for apples, your comparables must be similar in terms of size and floorplans.
You want to leverage mortgages to give you a higher return on investment. Make sure the property is mortgage-able. e.g. Some lenders struggle with flat roofs/concrete construction etc.
Find absolutely everything about the deal. E.g. When buying a leasehold deal, service charge. who manages the building/ ground rent charges/ major works etc.
Have multiple exit strategies. in this case for me it’s 1/ Flip 2/ Refinance/ 3/ Rent and Refinance at a later date.
A good deal is a good deal don’t mess about- I nearly lost this one over putting my breakfast before my wallet! Check out my FB here on it.
OTHER VERY IMPORTANT STUFF...
You must try Moroccan Tea.. It’s quite delicious!
