Goldman Gray, Dundee (2026)

01/04/2024

Goldman Gray has made a comprehensive guide on how to invest in property in Scotland which covers the key steps and considerations to help you make informed investment decisions!

If you are looking for any advice or have any questions regarding property sourcing or property in general in Scotland, please feel free to send us a message.

28/10/2023

A chance to hear the story of Goldman Gray -

Ross will be talking at the Scottish Property Podcast Networking Event on Wednesday 1st November.

He will be speaking about our journey into property, the lessons learned along the way and what we’re up to just now.

I personally can’t believe he’s agreed to this, however Ross has an inspirational story to share and I’m sure everyone will love what he has to say!

This will be a great event for everyone involved in property whether you’re a newbie or an experienced professional.

There will be market updates from Kessar Salimi & Neil Dymock around all things property finance, mortgage rates, letting legislation, rental statistics & more.

Angela Wallace from TSPC is the main speaker and will undoubtedly be sharing amazing knowledge & experience to everyone attending.

The event is being held at the Hampton by Hilton, Dundee.

6:30pm - 9:00pm.

You can purchase tickets by clicking the link in the comments below 👇

22/10/2023

Let’s talk chimney stacks …

Essential for those in need of open fires or log burners.

A nuisance to those who have no need for either of those.

We tend to remove them when we can.

They take up valuable space.

They require maintenance.

They can be the cause of water ingress & damp.

Sometimes it’s best just to get rid.

It can also be extremely handy for opening up doorways between rooms!

08/10/2023

Let’s talk Buy to Let’s…

We all know what’s going on in the industry just now, it’s all over the news.

Higher interest rates, rent freezes, eviction bans, new deal for tenants.

So, the question is …

Is Buy to Let still an attractive investment strategy ?

Our answer,

Of course it is, but …

Only if done correctly.

In todays market, it’s near impossible buy a property at HR value and make a good return on your investment.

And of course, you have to consider whether you are willing to put up with the ever changing legislation and what it means for you, as a landlord.

When it comes to finding attractive buy to let properties which offer a good return on investment, there’s still plenty of ‘deals’ to be had.

When buying investment property, the first most important factor is how you buy.

If you buy correctly at the start, it sets you up for a successful investment.

We always buy at discount, receiving instant equity from day one, providing high yields and a decent monthly profit.

So, we know that there is still very attractive buy to let deals being done.

The next question is if you wish to be a landlord and all that’s involved with it.

Of course, you can opt for a hands free service by utilising a letting agent but when it comes to the reality of owning a BTL.

Missed payments, damaged property, it’s you that will feel the squeeze from this, no one else.

If you’d like to discuss buy to let’s, send us a message and we can set up a meeting to offer some free impartial advice.

05/10/2023

Here’s 6 tips to help guide you before starting your first property flip.

Remember, it’s always important to seek advice & learn from experienced developers who have learned lots of lessons from their own journey.

This can save you time & thousands of pounds by avoiding any mistakes that can be easily made without the advice from the more experienced.

1. Confidently know how much the property will be worth after you’ve done the work.

This is the most important part of the whole process. If you don’t know what the property is going to sell for at the end, it’s impossible to know if it’s going to be a profitable project or not.

2. Know how to accurately price all the works required.

If you don’t know how to price a full refurbishment accurately then it’s impossible to know if you’re going to make or lose money.

3. Estimate ALL costs involved.

Many people make the mistake of not realising all the costs involved in flipping property. Until the end when they realise the profit is low or non existent due to lots of costs that weren’t planned for.

Legal costs. Taxes. Planning applications. Building warrants. Finance costs. Architects. Structural engineers. Selling costs. Utility bills.

4. Buy the correct property in the correct location.

It’s important to understand the market and it’s demands in the area.

Nobody wants to have a property sitting for sale on the market for months and months due to poor knowledge of the demands in that specific area.

5. Buy at the right price.

Always start at a confident, conservative end price, deduct ALL costs involved, figure out how much profit you would like, this gives you a figure of how much you can offer on the property.

Always add in a contingency for any unexpected costs.

Don’t underestimate it, who knows what you’ll find when you lift the floorboards, remove the plasterboard etc etc.

6. Have a good reliable team of trades.

This is essential to make flipping successful.

It’s vital to have a good team of trades.

It’s not as easy as just searching your local plumber on Facebook.

You can end up having to pay triple if you have to find someone else to rip out poor workmanship and start again.

Can you afford to be messed about for months and months.

There’s so much more to consider to make flipping successful but that’s a good start!

We’re very lucky that our flips have always been successful, although not without our hiccups along the way.

We’ve learned many lessons the hard way.

If you’re considering a flip for 10-15K profit, you’re going to have to make sure that everything runs smoothly and no unexpected events occur otherwise all your hard work might be rewarded with very little money or the profits might even be non existent.

Looking for more advice around property flips?

Send us a message, we love talking all things property 🏡

03/10/2023

Property Investment Insights ….

Who wants to know all the ins & outs of how we source, analyse, fund & execute our property projects ?

We’ll be sharing case studies & detailed information on it all.

Sign up for free with the link below 👇

https://mailchi.mp/2385eb190315/goldman-gray

30/09/2023

Minor changes to create major differences ….

Here’s a small change we made to a property in Forfar.

The kitchen layout wasn’t great to say the least.

The small kitchen cupboard area was hidden away from most of the kitchen space, only having roughly 1m x 1m space whilst in the ‘kitchen’.

By removing 2 small walls, we’ve instantly created a large square space for a new open plan kitchen / diner to be fitted.

The kitchen is currently sitting as a shell, very soon to be turned into a beautiful new kitchen.

We’re even toying with the idea of a small kitchen island.

Follow us for more updates!

30/09/2023

Adding value to a property …

There’s lots of ways to add value to a property.

Extensions, loft conversions, adding en-suites, creating open plan living, creating extra bedrooms.

It’s all about utilising the space available to maximise the potential.

We’re currently flipping a property in Forfar that had 2 huge bedrooms.

Instead of leaving them as huge open bedrooms.

We’re adding modern en-suites, built in wardrobes and a feature wall with built in TV.

30/09/2023

Property Flipping …

Adding value v Discount ⁉️

People tend to think that all you have to do to make money when flipping property is to buy, add value & sell.

It’s very rare in todays market.

Our very first flip, we bought for a fraction under HR value, spent 10k and added 40k value to the property.

That doesn’t happen in todays market.

Discount is essential.

Of course, you still have to add value but it’s extremely rare to find a property today that you can pay HR value, refurbish & sell for a decent profit.

I always say ‘your discount is your profit’.

The only exception to this is if the property is majorly undervalued, and it doesn’t happen often.

18/09/2023

📢🏠 Rent in Great Britain Hits Decade-High 📢🏠

New data reveals that the average rent in Great Britain has surpassed £1,300 for the first time in ten years. Renters in some areas of England are now facing payments exceeding £1,000, while those in Inner London see rents soar past £3,000.

Rents in London have been rising at a double-digit pace in 16 of the last 18 months, costing the average tenant an extra £5,508 each year compared to March last year. This surge in rental prices has put significant pressure on mortgaged landlords.

Each passing month has set a new rental market record. Rents have increased more in the last 12 months than they did between 2015 and 2019. While the current pace of rental growth is unsustainable long term, many mortgaged landlords are being squeezed just as tightly as tenants.

Scotland has also experienced record-breaking rents, with newly let properties seeing a 13.4% increase in August, the largest surge in over a decade. Monthly rents in Scotland reached £935, surpassing the average in the East Midlands.

Although there are signs that the rental prices may ease, there is also still a huge demand for renal properties in Scotland with the average rental property being on the market for only 4-10days !

Crazy!!

01/09/2023

How do we analyse potential flip projects?

We hope you’re ready for a good read because no stone is unturned when it comes to analysing potential projects.

In simple terms, it comes down to needing to know exactly how much money we will be investing in to the project and how much money we will receive at the sale of the project.

The most important thing to do is ALWAYS start at the end/sale price and work your way backwards which gives you an accurate price that you are happy to pay to purchase the property.

Refurbs/Renovations - it’s vital to get these costs as accurate as possible. There’s no quick tally up and hoping you’ll be able to do the works for a set price.

You need to know exactly how much the works will cost, and always add on a contingency for any unexpected problems that may arise.

We always consult with our team of trades for each project, accurately quoting works and making sure we’re pricing works and materials at updated costs.

You also have to factor in any additional costs that may be needed.

Architects, building warrants, structural engineers etc etc.

Before committing to a project, you need to know exactly what is required and how much it will cost.

You don’t want to commit to a project to find out the wall you planned to remove actually needs a structural engineer in, and its confirmed it’s structural and going to cost thousands more to remove than you thought.

You also need to ensure to add up all legal costs, selling costs, running costs.

It’s vital to be 101% confident in the end sale price.

Due diligence is the most important part.

Seeing that next door sold for x price last year, does not mean that your property will sell for the same.

We always look thoroughly at comparables, ask the opinion of at least 2 reputable estate agents & also consult with a chartered surveyor.

Once you are extremely confident in the sale price, you know all the costs that will be involved, as well as adding a contingency…

You now need to decide how much profit you are happy to receive at the end.

After that’s been deducted, you now have the price you can offer to purchase the property.

Property flipping sounds like a great way to make money, and it is.

However, a few missed costs, a wrongly estimated refurb and it can all end badly.

If you’re looking to be involved in property flips, and want to ensure you’re playing the game correctly…

We work with a small handful of joint venture investor clients, where we split the profits at the end.

Give us a message if this is something you’d be interested in and we can have a chat to see if we’d make a great team.

Goldman Gray

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