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Author Topic: "The Downswings of Property and Poker"  (Read 594900 times)
Eso Kral
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« Reply #3780 on: December 18, 2014, 02:47:53 PM »

Two of these opened last month in Nottingham, one good and one bad from what I've heard.
Going to try the good one in the next couple of weeks and will report back.

What is going to make yours different to the rest?
How does the the EIS scheme work both in terms of tax relief for the investor and valuing the business?


Obv don't have to respond if you feel it's sensation info!
Well in terms of "Rest" in our area there actually isnt a bit of direct competition in the town with the closest being one restaurant that offers somewhere between a midscale restaurant and ala carte offering either a full rack or half rack of ribs and two versions of a big burger with the other chain efforts ie Frankie and Benny's not even coming close to what these true traditional smokehouses offer.  In terms of burger joints, Henry Burgers is 150 yds away but in a small venue and they dont offer Rib's, Briskets or pulled pork.

The venue is pretty key to this operation in terms of being located at the bottom of the high street and where anyone who has come to Southend on the train (2 stations) having to walk past the premises either on the way to the seafront or on the way back so from spring to summer we will have a very captive audience (6 million visitors contributing £200 million) to aim at and the venue is directly opposite The Royals Shopping Centre and 50 yards from where the new G Casino has opened plus the council are regenerating the seafront hence the grants available.

For a pretty big town there are not that many other venues this would work in as the size of venue is key to get the number of covers needed to make the figures sexy enough and we are at the other end of high street that Nando's are who are a touch under the pricepoint we are looking at and a completely different experience, plus you would be so surprised how poor locally businesses are at promoting themselves via Social Media etc and we as a group have databases of clients ready to be targetted who fit our demographic perfectly.

If EdGas is reading I am sure he could explain the EIS stuff better or if you pm me your email address I will forward you what he initially sent me but my understanding is that we can invest as founders under the SEIS scheme and still get the tax benefits with other investors able to invest under EIS which is a slightly worse deal than SEIS but I think investors need to keep their ££ locked in with you for x amount of time or retrospectively lose the tax benefit gained.  Our plans are geared around opening up more venues due to a) the people behind it and b) the SEIS schemes and we already have pledges of pretty much the full investment required based on our early business plan and the fact that with the exception of Dubai all the people are connected in the business world and running their businesses in terms of development in a similar way.

Please let me know what you thought when you visit the venues Bopkin.
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Andrew Charles Blacklock - Lived for those he loved and those he loved remember.
Eso Kral
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« Reply #3781 on: December 18, 2014, 03:14:51 PM »

Since finishing Movember I decided I would give DECEMBEARD a go which is also charity based (albeit I am not fundraising for this one and more raising awareness) with it benefitting Prostate Cancer so on the 30th November a trip to the Turkish barbers for a cut throat shave has been followed by 18 days of growth and apart from the huge amount of grey in there I kinda like it.

Not sure how long it will stay....

 Click to see full-size image.


 Click to see full-size image.
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Andrew Charles Blacklock - Lived for those he loved and those he loved remember.
Kmac84
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« Reply #3782 on: December 18, 2014, 03:20:53 PM »

Something simple like

Smoked
Ribbed
Porked Smiley


Winner.  Innuendo ftw.
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bobAlike
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« Reply #3783 on: December 18, 2014, 03:31:51 PM »

Something simple like

Smoked
Ribbed
Porked Smiley


Winner.  Innuendo ftw.

Pulled
Ribbed
Porked
Smoked

seems like the logical order Smiley
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Eso Kral
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« Reply #3784 on: December 20, 2014, 12:36:21 PM »

Had a really good meeting with the owners of the Royal Hotel yesterday who happens to also be the owner of the Commercial Letting agents marketing the property and despite a new bidder called Guilianno Lotto who has opened restaurants of different varieties in and around London over the past few years offering a higher overall rent for the first five years the owners are currently preferring to deal with ourselves.

This is partly down to the connections involved but also as the main owner of the hotel is interested in investing some money so it works twofold for him, we have agreed whilst they check out the covenant strength of the other party that we can have full access to really fine tune our build costs and get quotes done with a view to tying up the deal in the middle part of January. This all means that we need to have a pretty clear plan of how we want inside to look like which in itself poses difficulties as we cannot go too raw inside due to the listedness and outside of the building so again if anyone has any good internal ideas please post photo's of places you have seen or like that we can use on our mood boards.



Having raised well over a grand for Movember I was surprised to receive a present from them in the post yesterday and as I opened the packaging it seemed to be a nice pen or something that would fit in a similar sized box and it was a slight disappointment to open it and find this
 Click to see full-size image.


Which is a soup spoon with a top lip protector so that I dont get soup caught up in the tache, still its a nice thought all the same!!



Finally 4 full months after her tenancy expired and just as the court date was finalised we have managed to get possesion of this house again.
 Click to see full-size image.


We were pretty lucky I suppose as even though she outstayed her welcome she continued to pay full rent and didnt leave any junk or smash anything up so we have had the builders in there for the past 7 days just doing a quick tosh up and painting it throughout  with a view to launching it in the second week of January to the market at approximately £325'000 and hope to get it sold fairly quickly so we can move on with the next project.  This house has been our best property investment so far (except our family home) as we paid £153'000 for it 5 years ago and only spent £8k on it to get it ready for rental then, (Rightmove will show a different purchase price) but sometimes you have to be creative to get financing Wink
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Andrew Charles Blacklock - Lived for those he loved and those he loved remember.
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« Reply #3785 on: December 20, 2014, 01:08:04 PM »

You have had a touch there Rich getting it back undamaged, several of the tradesman I use have all been working on rental properties that have been trashed!!

Having a 'mare getting another property at the right price to flip. Most of the agents in my area are corrupt as fk and will only sell to builders/developers they are mates with, even if you put higher bids in.

Congrats on the spoon, need to get yourself a moustache coffee cup to go with it!!
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Eso Kral
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« Reply #3786 on: December 20, 2014, 01:20:54 PM »

You have had a touch there Rich getting it back undamaged, several of the tradesman I use have all been working on rental properties that have been trashed!!

Having a 'mare getting another property at the right price to flip. Most of the agents in my area are corrupt as fk and will only sell to builders/developers they are mates with, even if you put higher bids in.

Congrats on the spoon, need to get yourself a moustache coffee cup to go with it!!

Finding a property to flip is pretty hard going wherever you are based as agents definitely have goto people who will give a drink both ends as well as giving them the property back to sell or it stays in house with x person buying it however it only takes one deal to turn sour and an agents reputation can be torn apart in minutes.

I think if you start to look outside of the box a bit there is still money to be made so if say Leigh on Sea is absolutely booming in price and you dont fancy punting at high prices in that market look closely as the next town even if it's not quite in the same league as you will find buyers who dont want to pay Leigh prices as they only have Westcliff money so if you have snuck a bargain in Westcliff and spent some dough on it you can eek out profits that way, or find ways of creating the extra space within that other people maybe didnt see as I know a chap who only buys x type of bungalows in x area as he knows he can change them from a 2 to a 3 bedroom really easily and literally does the same job over and over whenever a 2 bed comes available (even down to kitchens and bathrooms) with no other developers having cottoned on a couple of years on.

Defo befriend the agents though and let them know the properties will always come back to them as sometimes they will give you something that is not as big a deal as others to test you out first.

Good luck though....
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Andrew Charles Blacklock - Lived for those he loved and those he loved remember.
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« Reply #3787 on: December 20, 2014, 01:40:25 PM »

Up In Smoke
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« Reply #3788 on: December 20, 2014, 06:13:17 PM »


name it some thing obviously American

pick a city / state name

eg Memphis Smoke House  or Alabama , Tennessee
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Eso Kral
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« Reply #3789 on: December 22, 2014, 05:12:29 PM »

So having had a smoking tenant with a dog (funny how they declare they dont smoke or have pets when they come to see it and sign their agreement) in the house for 5 years it has taken about 7 days for the guys to stick a lick of paint around all the walls and woodwork and cut the gardens back as well as hiding a bit of damp that due to the dated windows that we dont propose to change and this is the end result with it going available today at £325'000.
 Click to see full-size image.


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We have purposefully not gone too mad on the finish and whoever buys this house will most likely extend where the garage currently is as well as knock through the dining room to kitchen and redo that also, and replace windows. So as there are only 2 houses in a 1/2 mile radius that are available today with them both being semi detached homesy we will hopefully have a captive audience in the new year....
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Andrew Charles Blacklock - Lived for those he loved and those he loved remember.
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« Reply #3790 on: December 22, 2014, 07:25:02 PM »

Hi Rich, would you not prefer to extend this yourself and then sell?
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Eso Kral
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« Reply #3791 on: December 22, 2014, 07:38:19 PM »

Hi Rich, would you not prefer to extend this yourself and then sell?
Hey Andy
Hope all is good with you and the family mate.

If it wasn't for the fact that since we have bought this place the airport opened which the flight path goes straight overhead and we would need to spend £15k on windows, kitchen and bathroom plus the extension cost to make it bigger downstairs (no gtee we can make it bigger upstairs) and the we would compete with this which is on the market with my firm currently 2 doors away
http://www.rightmove.co.uk/property-for-sale/property-46124848.html

Plus by getting rid now we realise quite a chunk of equity that we plan to use for the restaurant next year and another property development so the equity of releasing the cash earlier is better to release now.

Have a great Christmas and New Year bud.
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Andrew Charles Blacklock - Lived for those he loved and those he loved remember.
Eso Kral
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« Reply #3792 on: December 22, 2014, 08:07:04 PM »

^^ oh and due to mine and my brothers strained relationship, this property is our last financial tie together and he wants his share out of it due to expecting his first baby in April 2015 and works he is doing on his own property.
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Andrew Charles Blacklock - Lived for those he loved and those he loved remember.
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« Reply #3793 on: December 22, 2014, 08:41:58 PM »

Hi Rich, would you not prefer to extend this yourself and then sell?
Hey Andy
Hope all is good with you and the family mate.

If it wasn't for the fact that since we have bought this place the airport opened which the flight path goes straight overhead and we would need to spend £15k on windows, kitchen and bathroom plus the extension cost to make it bigger downstairs (no gtee we can make it bigger upstairs) and the we would compete with this which is on the market with my firm currently 2 doors away
http://www.rightmove.co.uk/property-for-sale/property-46124848.html

Plus by getting rid now we realise quite a chunk of equity that we plan to use for the restaurant next year and another property development so the equity of releasing the cash earlier is better to release now.

Have a great Christmas and New Year bud.

All good thanks mate hope you're all ok too. I bet the kids are all excited. Mine are grown up now but still excited.

I see where you're coming from with the house and sometimes the effort and delay is not worth the %age gained.

All the best mate and good luck for the new venture. hope to catch up with you soon.
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« Reply #3794 on: December 24, 2014, 10:06:30 AM »

Like Pads we also have two Christmas's and today we celebrate Slovak Christmas and all the traditions including their traditional meal of (actually tastes better than it reads).
Fish soup made from the heads, tails and fins of the main course

Fillet of Carp fish which is cooked coated in breadcrumbs and served with their potato salad

Then trad Slovak cakes

After the meal the kids get to open some presents but we obviously cannot expect them to believe that Father Christmas comes today and tomorrow so they think whilst we're eating today that Baby Jesus comes to all the good boys and girls.

So Vesele Vianoce everyone and thanks for reading, posting etc in 2014

Here's hoping we all have a happy, healthy and successful 2015!!
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Andrew Charles Blacklock - Lived for those he loved and those he loved remember.
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