The Property Adviser: Renovation advice to boost property profits

Last week I attended an excellent property seminar in which Dr. Dennis Coote talked about “Renovation Techniques to Boost your Property Profits”.

Dennis is passionate about property, having developed, renovated, bought and sold over 400 properties during his 40 year career. Dennis and his partner Hazel Reed are currently renovating a property in Reading.

Dennis reminded his audience of the first golden rule when investing in property: “To make a profit, you must buy at the right price. The profit you make is made when you buy, not when you sell.” This is even more appropriate in the current climate!

During the seminar he covered a wide range of subjects, aimed at helping investors looking to buy and renovate property: types of property to consider and to avoid; basic tool kit to take with you when viewing properties; location considerations; how to find, select and save money when dealing with tradesmen; sequence of work during the renovation process; etc.

Dennis also described some simple renovations and repairs which can be carried out by those skilled in DIY. Did you know that instead of paying a plumber to repair a toilet that is not flushing properly due to a damaged diaphragm, you can create a replacement plastic diaphragm yourself and save at least £50? Or that if you need to drain your central heating system but the draincock is blocked, you can buy a special clamp-on tap called a tee-valve (costs about £5), and fit it yourself on the pipe with a spanner. No leaks, no mess! And a lot of money saved! One very strong piece of advice: don’t play with gas!

Dennis recommends a visit to The National Self Build & Renovation Centre in Swindon (M4 Junction 16).

To find out more about Dennis Coote, visit: Property Development for Profit - Dr. Dennis Coote's ecourse on property