Side Hussle

[StrathBxx]

Welcome feedback on this and any suggestions, or even criticism.

I bought my first home at 25 last year and am in a strong personal finance position. But tbh I struggled a lot trying to figure things out and lots of tears. Didn’t have anyone to help me financially at all. Like how to read home report, how to calculate mortgage payments, what AIP is, cladding certificate, how to get solicitor, and just general knowledge that no one tells you when it comes to home purchase.

Long story short. I was thinking of creating a little document/ checklist/ own experience/ due diligence guide - almost like a dummy guide for first time buyers.

I have typed up an initial document but have since added a lot in and became a really long document. I have put in a disclaimer it’s my experience . By no means telling people what to do, but what factors to consider to help buyers make a more informed decision.

but… now that I have typed it up, I don’t want to post it on the internet for free. I have spend money buying books and hours reading and extracting relevant information. I created and modified spreadsheets ( mortgage calculators).

My question is-

1. would people benefit from this? Like I’m not an expert but it’s things I’ve learnt as a FTB. Pitfalls..etc
2. Would people pay for a little document like this? (Well not little anymore)
3. I was thinking £3 for the PDF. Would people pay for this?

I just don’t want to spend hours doing it if that make sense and freely give it out. I’m not that bothered about the profit. Just don’t wanna write for hours and get nothing that’s all. Wanna get at least something.

I follow a FTB group and time to time people ask the same questions/ same theme.

thanks. If you think this is a bad idea, I’ll just keep it for my friends or even kids in the future.

i have just googled

“advice for first time buyers”

and many many documents with checklists

You could just put it on Amazon or Etsy or something for £3 as a digital product. It’s not illegal.

However, I’d google each ‘tip’ and I think you’ll probably find it’s already on the internet for free.

Also editing to add I think you will find yourself swiftly banned from any Facebook groups or similar where you try to sell a product to people. It’s usually not allowed.

Sorry to say I don't think it's unique or valuable information. That's why people use estate agents; they guide you through the process (beyond what Google or your own parents/family help with).

I moved into my first home in my mid 20s and have moved 3 times since. I've never needed to pay for advice outside of the estate agent/solicitor/mortgage broker.

This is a good basic list for free https://www.reallymoving.com/help-and-advice/moving-house-checklist

As a recent first time buyer, I agree there's a lot out there.

I also wouldn't trust a random doc from someone who's been there/done that once, as realistically there's lots of things to think about you may not have come up against in the way/type of property you brought. I used lots of the free online docs/checklists, often published by reliable sources (banks/mortgage brokers/estate agents) and compared them to each other as I was paranoid I'd miss something 😂 But I'm not sure how you'd earn trust from people without having a professional background in this... Sorry!

Oh ok.

Thanks, I’ll just keep it for myself.

maybe a family member if they’re starting out

but otherwise… yes, no point

thanks all for your input.

hard to explain. Mine is more a document focusing on critically assessing the situation as opposed to this link like make sure to end all phone contracts, or research your area before you buy.

mine includes factors to consider when vetting a good solicitor.

I didn’t find estate agents honest at all. From the 3 I dealt with, there were a lot of political factors behind each deal. Mine includes how to do due diligence and avoid conflict of interest.

It’s due diligence and critical analysis factors stuff more than pack your items, ensure you meet deadlines, arrange surveys,..etc. but it’s ok, I’ll just leave it. Thanks tho

yes op

we get what you’re proposing

but loads out there… for free

mine includes factors to consider when vetting a good solicitor.

you have been through the process… once

OP there’s a wealth of info exactly as you outline put together with known and respected sources

People are right, there are loads out there, but I wouldn't let it stop you. I think you could market this easily and charge £5 for it. Share it on all your social media channels and you'll be surprised how quickly it will be picked up.

I paid £5 recently for an online travel guide. Yes, lots of the info was already out there for free, but I liked the woman who had collated it all together in an easy to read PDF. A fiver wasn't a big risk for me so I bought it. She sold over 50,000 on her first night of advertising it (granted she has a big Insta platform, but still!!)

Nothing ventured, nothing gained OP. 😀

who is this?

I think as others have said, you can market this on Etsy or EBay as a digital download PDF for people to buy. That way it’s a side hustle that could bring in a trickle of income. I think you have nothing to lose. Good luck with it.

It sounds like you’ve gained a lot of useful insight into the process but I don’t think you will be able to monetise it unfortunately.

You could share it on Mumsnet or other forums though to help FTBs?

and avoid conflict of interest.

huh? how’s this relevant to the property buying process and i can’t think what you have to say on this?!

I was assuming OP was talking about practices like EAs recommending their in house mortgage advisers ( & then getting a kick back if the client takes out a mortgage through them).

It’s a conflict of interest if the mortgage adviser then passes on confidential financial information about the client to the EA like their maximum budget.

it’s a criminal offence that will beach financial regulations.

used to happen, yes
now, no

Good to know that no longer happens. But I still think EAs recommending in house additional services could be considered conflict of interest by OP & others. As the client may not understand that the EA has a financial incentive for recommending the in house team over external mortgage advisers etc.

OP you could target it to a specific market: you mentioned cladding, maybe do something for people who are thinking of buying a flat that has cladding? or people who are buying a shared ownership property?

As a first time buyer I would want to take advice from somebody who was expert only. I think you are wasting your time and potentially causing untold problems for others. Don't forget, such advice, needs regular updating too!

again
breaking financial regulations
transparency transparency transparency

the op was a FTB and hasn’t said she has any enhanced knowledge about these very very serious issues you give as examples

what the op has said would be really great to pass on to a FTB friend or younger cousin / sibling
but it would be a waste of her time and money to try to progress this as a side hustle

Yes I’m talking about this. Happened to me.

I didn’t know it was a criminal offence. And it didn’t stop them from doing it. They done it without doing it if that make sense. Grey area.

anyway I get the drift, happy to keep it for myself.

I gained a lot of insight and critical thinking skills from my experience is all, not trying to tell anyone to do anything like give financial advice. Just pointing things to watch out for.

close family friends are CFO/ Investment bankers and senior partners at law firms so I got a lot of free guidance from that alongside with books I read and hours of reading and speaking to people.

it’s things that qualified mortgage advisors don’t tell you. Because they have incentives they don’t tell the public / want to maximise mortgage terms to get interest things like that. Critically analysing reasons for why they do what they do.

these are things I wanna know when I’m making big decisions. By no means giving advice. More of an informed decision.

but all good. These are valuable info to me so I’ll keep it for myself.

"close family friends are CFO/ Investment bankers and senior partners at law firms so I got a lot of free guidance from that"

This is at odds with your opening post when you said you had nobody to advise you.

Either way, you seem to be becoming quite defensive about it.

You obviously think you have a product which has a market, so if you can market it cheaply / at little cost (as previous poster said, Amazon or Etsy or similar) then why not go for it.

If you have nothing to lose then there is no harm in giving it a try.