Riches Property Group

Riches Property Group Property investment and sourcing for investors. Property portfolios within Nottingham and Sheffield.

If you love a good cashflow investment keep reading, Serviced Accommodation could be just for you! 🤝 If you’re wondering...
18/05/2022

If you love a good cashflow investment keep reading, Serviced Accommodation could be just for you! 🤝

If you’re wondering what serviced accommodation is, these properties are essentially short-term rentals that offer guests a more luxurious, homely stay than a hotel room can. The idea is to have a high-turnover of temporary tenants who are willing to pay premium rates in exchange for modern accommodation with a touch of style that meets their needs.

With a large influx of guests paying a significant amount of money for a short stay, investors in this property sector can see a high return on their initial output. On average serviced accommodation apartments could bring in yields between 6-9%.

Serviced accommodation is growing in popularity, and it is worth having a vastly greater understanding of this asset class.

The Pros of investing in New Build Developments...👇🏽When it comes to deciding whether to buy a new build or an older pro...
15/05/2022

The Pros of investing in New Build Developments...👇🏽

When it comes to deciding whether to buy a new build or an older property you need to look at the pros and cons of new build versus an older property. There are advantages and disadvantages with both. You need to weigh up what is important to you, and which type of property ticks the most boxes on your ‘must-have’ list.

1️⃣ Unpack and go – A new home is a blank canvas with fresh tiling, paintwork, kitchens and bathrooms. This means there should be very little, if anything, you need to do to it. You can simply unpack your belongings and start enjoying your new homes.

2️⃣ Incentives – Some developers will throw in extras in order to get a sale. This could mean paying your stamp duty or covering the cost of carpets.

3️⃣ Modern living – Top-spec new builds have all the latest technology. Many offer ‘smart home’ features and open-plan layouts. Some also have shared services such as a gym or concierge.

4️⃣ Design a home – Buy off - plan and you may be able have a say in the design. The builder may let you choose fittings and perhaps even the layout.

5️⃣ Low bills – New build homes have to comply with the latest building regulations. This means they are far more energy efficient than older properties. Data from Energy Performance Certificates shows over 80% of new homes have the highest A or B ratings. That compares to just 2.2% of existing properties. With better EPC ratings, it opens up the option of green mortgages which can offer cheaper rates.

6️⃣ Chain-free – As you’ll be the first owner you won’t have a chain of buyers above you. This can take away one of the main stresses of buying a home.

7️⃣ Warranties – All new builds come with a warranty, which you don’t get with an existing home. But your warranty doesn’t cover everything you might expect.

You’ll earn rental income (though possibly less than in previous years). In some areas of the UK, such as Liverpool, Gla...
10/05/2022

You’ll earn rental income (though possibly less than in previous years). In some areas of the UK, such as Liverpool, Glasgow and Leicester, rental yield is as high as 8%, while other areas are around the 3% mark.
* At the same time, you could generate capital growth as your money grows as your property value increases.
* You can take out insurance cover against loss of rental income, damage and legal costs.

Is buy-to-let still a worthwhile investment?
The answer to this question goes beyond the issue of tax. To a large extent it depends on the type of investment you’re looking for, and the ultimate goal of your investing activities (i.e. why do you need the money?)

Read more...👇🏽1️⃣ ScopingGood planning is the essential foundation of a successful business refurbishment project. So mu...
08/05/2022

Read more...👇🏽

1️⃣ Scoping
Good planning is the essential foundation of a successful business refurbishment project. So much of the process is dependent on other factors: do you work out your designs before you have your budget in place? Can you successfully budget before you know what permissions you’re likely to obtain? And is there any point applying for permissions before you know the actual design of your refurbishment?
This can often seem like a daunting and impossible task, but the key thing to remember is that your plans don’t need to be especially fleshed out or perfect at the start. There’ll be plenty of time to pick out the exact shade of paint and break down the budget later. For now, you just need a rough idea on the key aspects. Structural changes to the building, the overall funds you have available for the project and basic information about your area’s permissions are all key points to investigate.

2️⃣ Design and Budget
With an overview in place, it’s time to start filling in the details. First and foremost for your budget: assign contingency funds. The nature of refurbishment is unpredictable, and you can easily end up running into a cost that you haven’t expected. If you’re working with tradesmen, ensure that they’re regularly providing you with updates on costs and materials: keeping track of expenses as they occur is much better than being hit with a hefty invoice at the end of a project. If you need extra financial support, you’ll find many banks offer small business loans specifically to cover renovations and refurbishments.
For design, always keep in mind the end goal that you’re hoping to achieve. It’s no use having lots of beautifully designed elements if they don’t have any synergy.

3️⃣ Permissions
The extent of permissions that you’ll need to acquire depend largely on the type of work you’re looking to have done. If it’s just a fresh coat of paint and new furniture, then you’re good to go, but for more extensive changes you’ll need to seek permission from your local council. This includes work that will “materially change the exterior of your business”, such as new shop fronts or entrance doors.
For your planning application to be considered, you must submit the following:
The necessary plans of the site
The required supporting documentation
The completed form
The correct application fee
We cannot stress enough how important it is to acquire permission before you actually begin work. Having your plans rejected can be extremely costly if you’ve already started making changes, purchased materials or hired labour.

4️⃣ The Refurbishment
Much of the stress and work of the actual business refurbishment can be avoided if you follow the steps above and think ahead as thoroughly as you can. But still, unexpected costs and complications can happen to even the most diligent of planners. The key is to keep calm and keep informed. Have a good idea of the day-to-day running of your renovation and ensure that you nip any potential issues in the bud. Assuming you’ve done your homework and allocated a decent contingency, things are likely to work out in the end: a fact that can easily slip your mind when a slew of wiring suddenly needs to be replaced, or a pipe bursts!

5️⃣ Promotion
Arguably the most important step in the entire process, yet one of the most underappreciated, is making the most out of your refurbishment. Once work is complete, it’s time to shout about it. A visual makeover is a great selling point to push out across your social media channels and will often entice existing customers into revisiting soon. You can pair it with events to act as a catalyst to drive in new business as well. The result is often an increased level of exposure for both the event and the refurbishment, ultimately improving awareness and perception of your business.

It’s okay to get things wrong in life, we all learn from our mistakes and in order to succeed we need to fail sometimes....
06/05/2022

It’s okay to get things wrong in life, we all learn from our mistakes and in order to succeed we need to fail sometimes. You may be on the verge of giving up on your dream job, your business or a personal goal you want to hit. You always have to push yourself, if things were easy we’d all be successful right?

That’s why only a few succeed when it comes to building wealth, starting a business, learning a new skill. Success takes time and dedication in becoming the best version of yourself, to complete the goal or strive towards buying something you’ve always wanted , getting that degree you’ve always dreamed of or even that house that you never believed you could afford”

All these things are possible,

The question is, are you ready to take action to achieve those goals?

What makes us different? At Riches Property Group we believe the key to success is being transparent, having integrity a...
06/05/2022

What makes us different? At Riches Property Group we believe the key to success is being transparent, having integrity and providing value to those around us. We believe in a ‘value first’ attitude that identifies the value objectives, ensuring you are striving closer to your goals at all times 🤝

Read more...👇🏽 I started by learning more about myself. I went on a number of self development courses so I could unders...
27/04/2022

Read more...👇🏽

I started by learning more about myself. I went on a number of self development courses so I could understand what I wanted, why I wanted it and get to know myself.

Let’s start with the basics:

Every child, as a human being, is born intelligent. We all have different aptitudes for a number of different things. So it is pointless to differentiate children based on what we believe to be their “inherent intelligence”. The same goes for scientific aptitude. All children are born curious and with the need to find answers,

A growth mindset revolves around the understanding that abilities can be developed over time. You can get smarter, more intelligent, and more talented through putting in time and effort. People with a growth mindset thrive on challenges and building self belief with integrity, honesty and gaining intelligence every time they do something to push themselves!

When investing in property, the returns you want to make depend on your goals whether you want to make your money back a...
26/04/2022

When investing in property, the returns you want to make depend on your goals whether you want to make your money back as fast as you can or whether you want long-term growth, to watch the price of your property rise as much as it can over a 5-10yr period with a BTL!

Alternatively, you may prefer to have a steady cash flow which is where serviced accommodation may be a better fit for you!

Either way we are here to help you achieve your goals and strive towards your ultimate financial greatness!

A proper ‘sleeper hit’ for the UK property market, Nottingham has been making a huge rise over the last couple years and...
23/04/2022

A proper ‘sleeper hit’ for the UK property market, Nottingham has been making a huge rise over the last couple years and now represents a key investment area.

Investors have a range of options for investment property in Nottingham. The long-term rental market is thriving and can produce attractive yields. With two universities serving over 70,000 students, student lets are a strong-performing type of investment property in Nottingham too. Finally, as a strong tourist destination with visitors spending over ÂŁ1.5 billion a year, short/holiday investment lets could be another consideration for a Nottingham property investment.

Growth - Nottingham house prices rose by an average of 7.4% and across the region, that’s £5,920,000 in added value in one year (2021). Nottingham has a population of 800,000 people (2022).

I’m guessing you’ve all wondered how you can increase the return on your money whilst doing little to no work, well, tha...
20/04/2022

I’m guessing you’ve all wondered how you can increase the return on your money whilst doing little to no work, well, that’s where I come in 🤗

You may work a full time job, run a business or generally not have enough time to manage your investments for yourself. You may know a lot or little to nothing about property and that’s why I’m here to help you find out which strategies and property investments are best for you, to get you the best returns on your money whilst you sit back and watch your money grow 📈

Book a strategy call with me today to discuss how we can get started. There is no time like the present.

When it comes to evaluating an area to invest in, there are a few things you may consider. What are the most important t...
19/04/2022

When it comes to evaluating an area to invest in, there are a few things you may consider.

What are the most important things to look for?

💷 The value of the properties?
👥 The population?
🚗 The transport links?
🛒 The proximity to amenities?

Don’t stress 🤝 we’ve got all that covered with our V.A.L.U.E checklist, that is the way we evaluate all of our properties! And that’s why we believe as a company Nottingham is one of the biggest up and coming areas to invest in right now!

Exposure - Nottingham has links to the legend of Robin Hood and to the lace-making, bicycle and to***co industries.
As a tourist destination, visitors spend over ÂŁ1.5 Billion.

Transportation - Due to Nottingham’s location and its international connectivity, businesses located here can capitalise on the significant opportunities presented by both UK and Global Markets.

Nottingham has access to most of the UK within four hours thanks to excellent motorway and rail connections.
The significant investment into the local transport infrastructure over the past few years, including expanding the award-winning tram net- work, means that your staff can access their place of work with ease.

Welcome to Riches Property Group. My name is Ches Richards. I'm the owner of Riches Property Group! We are a small busin...
19/04/2022

Welcome to Riches Property Group. My name is Ches Richards. I'm the owner of Riches Property Group!

We are a small business with big aspirations, and we'd like to help you reach yours. We consistently deliver a higher level of service than our competitors because we believe that your dreams are important, and we want them to come true for you.

We believe in investing in Real Estate because it offers so many more opportunities for growth than simple bank interest rates, and it's just plain fun to watch your property value increase!

Our value to you is to help you build wealth for yourself, your family & your future with property investment, and we want you to experience all the benefits for yourself!

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Nottingham

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