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Wonderwebb

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About Wonderwebb

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  1. I Purchased in Wavertree last november I bought a 3 bed built 8 years ago at a steal for £81k cash which got valued 6 months later for £115k with true market value of £125k. Remortgage amount was £87K @75% LTV ! I looked at both HMO and SA . After looking at market i found loads of HMOs with rooms available and trying to find someone to manage SA was tricky. While looking on rightmove i could not find many houses to let at all because everything was a student let ! Spotted an opportunity and advertised house as whole for £675 PCM within a day of advertising on portals agent had 15 view
  2. It will be given to a local agent who will have to publish all offers before exchange . If not it will appear in auction. If with agent bank will usually proceed with best offer ie: cash how quickly you can complete.
  3. Sounds like a recipe for disaster to me . Hmos are great if you can get to them and manage them yourself. Leaving it to a management company is going go cost you alot and leave you at there mercy. I have 2 Hmos about 1 hour away and 5 single lets which are 5 hours away. My single lets are with an agent and present me a great ROI these are totally hands off. My Hmos do produce good income but have high tenant turnover and generally 5 times as much work . If i was not doing this it would cost me alot .
  4. Not all that. I was told rent was £750 PCM when top of market is £550 PCM .
  5. Standard flush door Fd30 From howdens is only £24.99 . Ideal For Btl
  6. Depends what your after but for my standard BTl I always Buy from screw fix: steel bath standard toilet and single hole sink it comes to to under £350 with all taps and waste. We Then usually end up at b and q and pay approx £10 per sqm for tiles.
  7. OK Neil what area of Liverpool would you purchase a BTL and for what reasons? I am thinking of adding some to a portfolio and would like your thoughts. Thanks in advance Wonderwebb
  8. Try paragon I have been offered same day refinancing by my broker . I usaually buy at auction then refinance after refurb
  9. Forgot to mention time frame for all of this is 2 years . At first I knew nothing about leverage and didn't like the idea of mortgages I wanted to own everything outright. After listening to podcasts o realised I was missing a trick so then i set out to refinance all property. This was approximately 1 year after owning the first deal. I remember the broker saying that it would be hard for me to get a buy to let mortgage without having a years experience of being a landlord so in retrospect I don't know if I could have done this any quicker..
  10. I started by pulling out 130k in equity out of my house I also had approx 50k saved . I bought in cash at auction so there was no mortgage to sort out . Property no1 was in Dover Kent a 4 storey terraced house which was arranged as 2 masonettes . The ground floor masonette was in pretty poor state so we refurbed that . The upstairs came with a tenant who was very reliable. His masonette was 4 bedrooms ! . I served him notice after 18 months and at this very moment am converting it to a HMO to improve casflow. If it does not work as HMO then I will opt for 2 - 1be
  11. Hi Sam I'm no expert and only have 3 deals to my name Brief outline is : Deal 1: house 1 auction cost 130k refinanced 185k pulled all money out 500pcm cash flow positive Deal 2 : 2 bed flat auction cost 53k refinanced 85k no refurb pulled out 13k I will have to extend lease which will cost 6k so end up with 7k profit and after mortgage payment 260pcm cash flow positive. Deal 3. 4 bed HMO auction purchase 153k refurb 30k . I will refinance in Jan 2017 for hopefully 240k which will leave me with 3k left in . Property at moment is fully let with RGI i
  12. Ok for a quick update its now December . After My refinancing of above 2 properties I found myself with all the money i had invested back in my account so it was off again to the auction ! I looked at a few property's and ended up buying a house which had been converted into a tanning salon. I Purchased this from auction for £153000 i planned on turning it back into a residential house and flipping it. I rebuilt the bay window and completey refurbed from top to bottom. The builder in me could not stand by and watch the cellar go unused. I converted it int
  13. Thanks for the clarification Lewis . All looks good from this end based on your reply . I think I will ask a company to certify the existing system . Kind regards Webby
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