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  2. I'm currently just going for standard BTL. Going for 5 viewings this weekend mostly terraced houses in Wigan, there is a semi detatched in there too. Planning keep doing what I've been doing, go in with interest only, factor in the management fees, insurances etc and hope to be around the ball park of 250pm positive cash flow. Long term growth would be a bonus, but even just long term debt erosion by interest only gives me enough to be happy for the future. Open to rent to rent and other options in the future, but plan is to get half way to the first goal doing what I know then might take a 'risk' of trying something new.
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  5. That sounds like a great goal mate. Good on ya. What strategy are you using to get there? We're looking at a similar cash flow target. It would cover our expenses here then are wages would continue to be saved to invest further. Im really interested in rent to rent serviced accommodation but it's quite hard being so far away to not be able to view things. Single let's would be the simple option but not very high cash flow. My sister is well on board with it all too so may jv with her on some things to get where we want to be
  6. Hi Marcus, I'm actually from Bolton and have one of my investments there at the moment so hopefully can help! Definitely a good area for yeild, capital growth I'm a bit on the fence... Its close to Manchester, and in theory the train station and transport links have been improved, but honestly the standard of the trains and the service is appalling. If more work was done there then it could boost things. The town centre has undergone some regeneration, but its a case of the main shopping centre is vastly improved, but about 5 minute walk from there paints a different picture. Lots of unused shops. There have been a lot of empty promises from the council over the last few years, but that could all change going forward after the recent changes in the local elections. I'm probably slightly biased against rather than for it, as its easy to see the problems on your own patch. I'd recommend having a look one town over at Wigan. Very similar pricing (probably better overall) with solid yeilds. Regeneration work has been happening recently in the centre and its pretty much bang in the middle of Manchester and Liverpool, so doubles your options of catching any commuter belt booms. Train links are far better than Bolton in terms of service, reliability etc, and you can even get direct trains to London or Edinburgh... So basically it's a good commuter hub in general. Feel free to ask me any specifics about either town and I'll help in any way I can. Cheers Matt
  7. Goal at the moment is cash flow of £2000 a month, which would essentially replace an income for either myself or my wife if either of us were unable to work. I'm seeing a lot of people being made redundant so ultimately I'd love to be in a position where that pay off is a great result rather than being fearful of paying the bills etc. Currently just over a third of the way there with our 3 properties at the moment. Going viewing a few on Saturday to hopefully push on further! Once we get there, strive for £4000pm then we both have the option to make the bigger decision of doing whatever job (if any!) we like without having to consider money. Cliché answer, but ultimately financial freedom is the goal for me You have a specific target or goal in mind at the moment?
  8. Hey Matt, Wigan is a lovely spot mate. What are you looking to acheive in property mate? Jim
  9. Hello Anne-Claire One question I would ask, what is your current living arrangement? If you are renting at the moment and are planning to move into the London property that might work well. I understand the point about only building equity through your mortgage repayments if you aren't expecting the price to increase, but if that's in place of paying out rent then that might be a really good way to get started as it wouldn't really be costing you anything (assuming rent is similar to the mortgage payment). You could then save further/overpay with a view to refinancing for when you are in a position to buy another property. Similar point for considering really if you choose to invest in Manchester/Liverpool, if you are going to have to put a bigger deposit down, whilst also increasing personal debt with a loan, and also continuing to pay rent for your current property, you might find that you are in a negative cash flow situation from the start, which isn't a great place to be. Many Thanks Matt
  10. Welcome to the Hub Ryan. I live in Wigan, have a couple of properties here and one in Bolton. Happy to help in any way I can, if you ever fancy meeting up for a chat just give me a shout - tie it in with a visit to your Wigan property and make it tax deductible I'm generally in Manchester a couple of times a month too, so let me know if you ever want to bounce some ideas around. I'm looking to expand my portfolio and just generally get to know a few more like minded people Cheers Matt
  11. Welcome to the hub Jimmy. I'm a fellow Boltoner, but made the slightly less exotic move to Wigan as opposed to NZ... Good luck with your journey and let me know if I can help in any way Cheers Matt
  12. Hi Phill and welcome to the hub! Great advice above, and just to echo the sentiment if say listen to podcasts, read books and make use of all the info here in the hub. If you are ever in or around St Helen's, I currently work there, so would happily meet up for a chat (offer goes to anyone reading this too!). I'm trying to get more exposure to like minded property people, just to talk and bounce ideas around. Good luck with your journey either way and let me know if I can help get you started in any way. Cheers Matt
  13. Hi Claire, Welcome to PropertyHub! We love hearing of people taking action on their Property Investment journey! It's great that you have a goal set for yourself, if you haven't already it may be worth completing the dreamline spreadsheet to really help attach a timescale and gain more clarity on your investment goals: https://propertyhub.net/podcast/property-dreamline-revisited-free-spreadsheet/ In regards to how and where to invest, have you considered off-plan property? These usually require small initial deposits of around 10% upfront and are the perfect tool if capital growth is your priority. Rob & Rob recorded a very insightful podcast on this that you may find helpful: https://propertyhub.net/podcast/tpp033-how-to-win-with-off-plan-property/ If you need any further advice you can always arrange a strategy call with one of us portfolio managers here at PropertyHub. Best of luck! Amrit
  14. Hi John! - welcome to Property Hub and the world of property investment! If you're just starting out, you may want to complete some of our online courses to build your knowledge. I would suggest starting with the goals setting course, to really help you get clear on what you would like to achieve from property: https://propertyhub.net/course/setting-property-goals/ The property strategy course may also be of help to help you gain clarity on the best strategy for you and the lifestyle you would like to achieve: https://propertyhub.net/course/which-property-strategy-is-right-for-you/ You can also speak with a Portfolio Manager from Property Hub Invest to consider what the best strategy for you might be. There's no one way to invest in property, and ultimately your goals and circumstances will determine the best way for you to approach things. All our content is free, and speaking with our Portfolio Managers is also free - so you can save your funds for the investments themselves!
  15. What are your thoughts on buying a place to live in yourself and renting out a room? It can get you onto the property ladder, you can get some income (sometimes as much as covering the mortgage), and it is also tax efficient
  16. Hi Silv, Thank you for getting back to me and thank you everyone for your input. So dont work on the basis of 'would I live there' .....Ok I have taken that on board. But as for reading articles from property hub, I am reading every night and on lunch. And its sinking in. I just dont know where to start...Do I go start looking at properties right now or am I just wasting my time? because I dont have XYZ in place? This is what is tripping me up. I need that foundation to build on. And how would you put a property proposal together? and what info would need to be on it? I apologise for the complete novice questions they sound idiotic I know lol Kind regards, Phill
  17. Probably not in your existing limited company if you are seeking financing. Many lenders are not keen on mortgages to trading companies. Difficult for them to measure the risk involved.
  18. Hi Hubbers, Looking for some tips on where to get data on sold house prices in Scotland e.g. for a specific street. Im trying to value a 3 bed flat thats been offered to me (off-market). So I'm trying to build a list of comparables. But i find getting data on similar properties in the nearby area quite hard to obtain! Ive tried the Registers of Scotland site - 2 years ago you used to be able to put in postcode and get definitive data on nearby sold prices in nearby area, but that doesn't seem available any more...! Is there a new official land registry site for scotland does anyone know? (or has all data been sealed off and you have to pay?) I believe it's much easier in England to get this data, so grateful for any tips from fellow investors in Scottish scene! Just to say, what I've done to date is muddle through by using use a combo of Rightmove, google maps and the local SPC website to get info what i can. But both seem quite patchy to be honest.
  19. Hi Phill - welcome to Property Hub and the world of property investment! If you're just starting out, you may want to complete some of our online courses to build your knowledge. You can also speak with a Portfolio Manager from Property Hub Invest to consider what the best strategy for you might be. There's no one way to invest in property, and ultimately your goals and circumstances will determine the best way for you to approach things. All our content is free, and speaking with our Portfolio Managers is also free - so you can save your funds for the investments themselves! Rachel Watts Portfolio Manager https://propertyhub.net/service/invest/
  20. Save yourself a couple of days by reading his book. That will fire you up and you'll avoid the hard sell. Then work through the university courses here to learn the detail of what to do. Rob Dix's Complete guide is also an excellent starter book, probably the best all rounder of all the ones I've read. Podcasts - this one, Property Voice, Progressive Property, Inside Property Investing are all generally good and Goliath Sourcing is a good one for sourcing strategies, legalities, websites etc. Hundreds of hours worth of stuff across those to keep you going, so you may want it pick and choose which specific episodes to listen to. PS Search for Samuel Leeds on Property Tribes to get an alternative view
  21. As it goes, my broker last week was telling me he's seeing 3-month come in. He might have just been saying that to get me to pay for the coffee though! But I like to believe him, will explore.
  22. The problem with 'would I live there' is that you'll be cutting out (random number) 70% of potential stock you could sell to investors. Most investors don't care if they could live at this house, they just care whether the numbers stack up and whether the investment is solid and won't cause headaches. I can't comment on Samuel Leeds courses. From what I've seen on Youtube, these courses are very good at firing people up and making you feel motivated... but then that motivation still needs to be there months later when you've visited your 20th property with none of your offers having been accepted yet. In terms of content, I don't know what these courses would teach you that you can't get for free from Property Hub and other similar websites
  23. i'd say yes is the short answer - especially if you are looking to refurb and then value the property at a higher amount when you mortgage. There will always be some specialist mortgage provider who will do it quicker but most likely at a higher rate of interest.
  24. What is the longer term plan regarding where you will live ? When you rent out this place, what will you both do next ? Buy another place ? Rent a place ? Go travelling ? What you do next might have an impact on what you do now
  25. I put aside 25% of the rental to cover things such as costs of maintaining the place, void periods and emergencies. I would say on a 10 year average, it has not been this high for me. There has been years where the cost has really been minimal, but there has also been years where I had multiple problems (i.e. boiler and bathroom problems happening together), and if there wasn't a contingency fund built up and set aside, I may have found myself in trouble. The contingency fund also helps covers the mortgage interest during the void periods. But things to take into account is the type of property, the age of the property, your tenant market and even the tenant themselves (When I was starting out in BTL - one tenant caused a lot of damage and left without notice, and the deposit on hold wasn't sufficient to cover)
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  27. Hi All, I hope you are all well. As it is tradition to introduce yourself to the “property hub” family I wanted to share a few facts about myself, my current situation and my plans for the future. I am 26 years old and I currently have 2 property within my portfolio, one in Wigan and the other in Manchester. The property in Wigan was a typical 2 up 2 down which required a light refurbishment. My other property in Manchester was the opposite, required a very heavy refurbishment which is currently coming to the end. Hoping to refinance this property and make a nice profit to move onto my next property/properties. I have not taken any property courses, more self educated with free online resources such as YouTube etc. My plans for the future... to continue to buy more buy to let properties, my investment strategy is buy, refurb and refinance. Would like to get my hands into a HMO project in the near future too. Main goal for the upcoming months is to increase my knowledge of how best to finance my property investments. I know the basics currently. Ps; I welcome some further advice on this subject. I hope this give you and insight to the current stage of my property investment journey and very much look forward to speaking with other likeminded individuals. Thanks, Ryan
  28. Hi everyone , I’m new to property investment . I haven’t yet invested, but I am very keen in starting . I’m currently based in London but I’m interested in investing up north (Northampton , Nottingham etc ) . I have a Ltd company but I wanted to know is it best that I purchase any properties through my LTD company or as personal investor . (Just to note, that my current LTD is trading in an unrelated industry). Thank you all ... Shaima
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