what are your #LessonsLearned #2017!

Before you can move on to your goals for 2018 it’s a good time of the year to reflect on what’s gone well, what you could have done better this year.

For the majority of 2017, I have focused on getting my Reading new build development to start. At a high level my top three challenges have been as follows:

a) Reducing the S106 contributions. (nationally under 10 units affordable housing contributions are NOT required).
b) Getting a good building contractor who also had the paperwork required by banks.
c) Redeeming the mortgage and securing development funding.

See a glimpse of my Reading development.


We have secured planning permission to build eight new apartments by knocking the bungalow.

My top 7 TIPS for consideration when you get into Property Development.

  1. Due diligence; Do your own research on funding options available in the market, vetting builders, comparing quotes from professionals, don’t be complacent. I was given an offer letter from Lender A, only to be told a few months later they have pulled out as the project costs went up.
  2. Don’t be in a rush to start the Development; it is a long-term game. It can take 1-3 years from start to finish; getting planning permission can take 6 months – 1 year, securing funding another 6-8 months and then the build.
  3. All costs are front-loaded, you will be paying out lump sums in planning & professional fees for drawings, surveys, counsel fees; all upfront. The rewards are realized when you sell/ rent the units. Property Development is NOT for the faint-hearted.
  4. The devil is in the detail. This could be in relation to reading the fine print on the loan terms from the bank, quotes from property professionals or detailed costing from the contractor. Please read the detail to know what you are getting yourself into.
  5. Don’t give up too easily. If we had not been in a rush to start the Reading development, our (unlawful) S106 contributions to the council could potentially be reduced to zero.
  6. Don’t be Penny wise, pound foolish. I wanted to save £3k initially by not appointing the architect firm to project manage the competitive tendering process from builders. Eventually, this costs me a lot of time & money down the line.
  7. Always ASK the question – don’t pretend to understand it all even if you risk sounding ‘dumb’. Embrace all the new learnings rather than focusing on the challenges & what you don’t know or understand.

Anyway, hope you find these useful. It would be good to stay connected as I will be starting a video blog of the development progress from January 2018. If you want to keep posted, please link up with me on LinkedIn, FB, Instagram or Twitter – details below.

Time, Money & Choice Freedom

Facebook | Twitter Skype: manni.chopra1
Office: 01753 643899 | Mobile: 07970 998093

Top 3 reasons to come 2 #J6!

1. Two expert speakers!

Marttand Patel is the keynote speaker & will share “Opportunities and Threats for 2018-2020.”

Dr. Marttand Patel is a Mentor and a Property Business Coach and has been training and teaching people about property for the last 6 years. Marttand has built a high yielding portfolio consisting of flat conversions, HMOs, student and professional housing, commercial to residential and leasehold to freehold splits.

He is currently working on a large commercial to residential conversion to create 54 affordable housing units for first-time buyers.

Tim Matcham has raised £2.5 Million from private investors & will share “How to attract Armchair investors.”

2. Active Investors.

We have VIP members who are the regulars at the J6. They are a good mix of highly experienced & new investors who are both actively engaged in finding deals & are committed to success in Property.

3. Property Professionals

We have a mix of planning consultants, commercial & residential brokers, property accountants, estate planning experts, builders & solicitors at the meeting.

If you want to grow your business these contacts are crucial to success.

BOOK YOUR TICKET here: bit.ly/2iet2tH

Looking forward to seeing you tomorrow!

Time, Money & Choice Freedom

1 week 2 go!

Have you booked for the Property Development Panel session at the next J6 Property Meet?

We have an exciting agenda for our next event on Tuesday 13 Feb. Networking kicks off at 6:30 pm for 7 pm start.

1. Manni will kick off the meeting with an introduction & be giving an update on her Reading Development project.

2. Luke Beavan – mortgage update.

3. Diksesh Patel – sharing his story & projects in Property.

4. Rishi KhuranaAmit MalhotraSandra Orlando PayneEmily Temple MSc MRTPI, Romey Chopra MPharm MBA and Lisa Andrews – all part of the Development Panel taking YOUR questions from the front of the room.

BOOK NOW before it’s FULLY BOOKED: bit.ly/2iet2tH

Looking forward to seeing you there.

Time, Money & Choice Freedom

Are you looking after the safety of your HMO tenants?

There are various categories of Houses of Multiple Occupation (HMOs) in England and Wales; this article is referring to shared houses in particular room where each individual will normally have their own bedroom and there will be general sharing of the bathrooms, W.Cs. and kitchen.

As a HMO landlord it is very important to abide by legislation and ensure that the property is safe for the tenants living in there. This means not cutting corners and contacting your local Environmental health team to confirm requirements. Even if the property may not need a HMO licence, there will be basic environment health andrequirements and fire standards you will need to meet. These can vary from a fire door in the kitchen, smoke alarm, heat detector etc.The rules vary for each council so best to consult your council’s HMO team.

It is the actions of a few rogue landlords who are looking to make quick and easy money and have a total disregard for maintaining a certain standard in the property. Article 4 (amongst other regulations) has been introduced to stamp down on these landlords.

In all our Professional HMOs we always install fire doors as mandatory in all the bedrooms and the kitchen as a pre-cautionary measure.

Below is a recent example of a HMO landlord being prosecuted as he ignored HMO licence requirements.

The HMO had inadequate fire protection

Norwich landlord has been fined £12,000 and ordered to pay £4,116 in costs for operating an HMO without a licence and for failing to provide tenants with adequate protection from fire.

The Landlord pleaded guilty at Norwich Magistrates Court to seven offences under the Housing Act 2004. Norwich Council prosecuted following two inspections in early 2013 during which the five-bedroom house was found to be operating as an HMO without a licence.

Investigating officers also found that the five bedsits had no fire doors or appropriate fire detection system. Some of the windows were also broken; the ceiling was cracked with loose plaster and gaps compromising the properties ability to resist fire and smoke. The landlord was also unable to provide a certificate of testing for the electrics within the property.

During the court case the Magistrate told the landlord: ‘you showed disregard for regulation, which involve people’s safety, particular fire safety. We think the offences were made more serious particularly the fire safety, bearing in mind that we consider you to be a professional landlord and you are in the building business. You should have known better.’

Norwich Council portfolio holder for private sector housing councillor Mike Stonard said: ‘We have recently given our support to Shelter’s campaign to stamp out rogue landlords and will continue to do all that we can to improve conditions in Norwich’s growing private rented sector.’

To conclude this article, I would like to point out that being a responsible landlord is extremely vital to maintaining a decent standard of accommodation in your shared houses. Your first port of call should be your local council’s HMO team to ascertain if your property requires a HMO licence or not and if not, then what the minimum standards to you will need to adhere to.

If you looking to invest in HMOs but not sure where to start, please contact Manni Chopra via her website www.mannichopra.com,  email her at manni@mannichopra.com or call her on 07970 998093.

Do you want #ValueForMoney!

The top FIVE reasons for YOU to attend the J6 Property Meet tomorrow Tuesday 13th March 2018. It’s your last chance before we get FULL which we do.

Gain knowledge on specialist aspects of Property & non-Property investments.
Learn HOW to preserve your hard earned wealth by passing it on to the rightful heirs.
Surpass your own expectations & limitations by embracing the power of your mind.
Mingle with committed investors & Professionals from the J6 VIP community.
Create new CONNECTIONS that can facilitate your Property business to get to the next level.
BOOK NOW: bit.ly/2iet2tH

Looking forward to seeing you there!

Time, Money & Choice Freedom

Are YOU a procrastinator?

This is YOUR last chance to reserve your place to the J6 Property Meet tonight, Tuesday 13th March 2018.

Three of our VIP members will be sharing their knowledge & expertise. The J6 motto is to support our VIP community by giving them the opportunity to grow their business & giving them exposure.

  1. Learn about HOW you can INVEST in EIS & SEIS government backed schemes. – Sid Singh
  2. Creating a MIND-SHIFT by Embracing the power of your mind. – Deborah Hopper
  3. LEARN how you can leave your hard earned assets to your loved ones. – Dinesh Kumar

BOOK NOW for last few available spaces: bit.ly/2iet2tH

Looking forward to seeing you there!

Time, Money & Choice Freedom