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Jacob Fisher

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Profile Information

  • Location
    Nottingham
  • Areas I invest in
    Nottingham, NE England
  • About me
    I have a few properties which are slowly growing in value and enabling me to purchase more. I have worked with a sourcing agent in the NE who offers a refurbish and refinance service which made my last property really appealing.
  • My skills
    Electrician
  • My goals
    A choice to spend my time with my family and friends, travelling, working or throwing myself out of aeroplanes.
    Ability to provide a home for my sister rent free
    Controlling assets that can enable the above
    £5000pcm net profit in March 2024
  • Interests outside property
    South America
    Spanish
    Thai food
    Kizombre - newest item to my list!
    Shooting
    Extreme sports
    Travelling
    Business
    Cycling

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  1. Hello all, I was wondering if you could help me with something I am new to. I've recently found someone to invest their cash with me in a JV but do not know the best way to set up the deal. I have experience on self funded single lets only so far and therefore am unsure of JV options. The guy I wold like to invest with has never owned property and I wonder if access to mortgages will be restrictive for him. I am looking for a simple solution that is attractive to the investor. Has anybody any suggestions/experience on how to structure this? Buy through a company in both our names 50/50 on mortgage, deeds, rental? Buy in just my name and use a legal agreement to provide him his share of the deal? Appreciate any help from you guys out there. Jacob
  2. That's what I thought - it's the unknown that will end up costing me extra tax. Do you file your own? Pretty happy with most things but the mileage part because I also claim mileage tax relief for working at a temporary place of work. Its so something I'm currently looking into this week so hopefully have an answer soon. cheers for your time james
  3. David I've just this weekend seen a video of how one guy made his start in property when he took a £35,000 'car loan' out which Was all used on property. I wasn't aware of that as an option and combined with a credit card I suppose can close a big gap in the search for finance. Am I correct to think if you add all the monthly repayments and early repayment fees over say a 6 month period (time before re-mortgaging) you are left with an accurate figure to use towards working out your finance costs. Sorry I'm not a gifted writer, but I hope that makes sense. It seems like a workable option and if loans are around 5% potentially not that expensive either. Jacob
  4. Good luck Tony, bet you will feel better after diving in for the first time. Theres alot of us out there who love them programmes hope it works out for you mate.
  5. hello David, please dont mind me I want to hear if you get any great advice on alternative funding. Im also new and keeping a close eye on this forum. Any chance of releasing equity from your own home and using ut as a starting point? Jacob
  6. Hello and good effort Noah on reaching out, what are your first moves looking likely to be? Im new to this game too and have been based in Nottingham, do you feel like you have enough info yet to make some moves? jacob
  7. Good morning property friends, I know how much money my properties have made, I know what my interest payments are, running costs are etc, But when it comes to filing a tax return the question I am asking myself is; would I benefit from using an accountant? There is so much I do not know about tax which I am hoping some readers can highlight, but to find value when your bringing in a small turn over like mine below, would you see value in an accountant? Below is what I am claiming for; 75% of mortgage interest service charge insurance management books and other misc items £0.45 per business mile travelled (<10000) The gross income is £12600, after deducting allowable costs and business mileage, I have 4368.82 taxable income. Seems relatively straight forward, but I am sure people have had lots of different experiences with HMRC. Can we discuss what everyone would do? Thanks Jacob
  8. Hello guys, I may have a new opportunity for investing but so far it's a subject I lack knowledge in - Investing with OPM. How do people usually do this with regards to deeds? And would you offer a fixed rate of return and their cash back after say 3 years? Cheers for any help, just exploring the options to reduce any potential problems
  9. I would recommend having a look in Nottingham, for properties not too different in price from your first two you would be looking at rents around 500-550. I was very surprised to see how little your renting these properties for, one major fault and that's a couple years of cash flow out the window based on them figures. Forest fields, Lenton and Basford are very close to the city centre and there's tram links, bus links and plenty of decent sized supermarkets. Plus there's the student population that live in Lenton and Basford. It's the only place I know so I'm biased but it gets a shout out every now and again in the podcast. Good advice from Marius about lenders attitude to overseas landlords. Good luck mate, Switzerland is beautiful went to Lauterburen last year for some climbing
  10. Thanks for the info Stuart it's an area I'm not too familiar with. I just wonder in the long run if I was to stay residential I could safeguard myself against capital gains tax upon selling? Might not be an option to do this but I'm still new to the game. Regards
  11. Hi guys, wondering if you could help me out on something. I am looking into information about switching my consent to let over to a BTL mortgage and am wondering if its beneficial compared to staying on residential. Im pretty sure ill get continuous consent to let but may be on similar rates as BTL anyway. What I am wondering is; If the property will be fully liable to CGT - from original purchase price or current market value upon switching? Is there tax benefits having the mortgage on BTL? will lenders allow me to let my current property out on consent to let if I choose in the future? Thankyou guys Jacob
  12. I'm based in Nottingham and basically want to keep the property running on consent to let because ive got a good Tennant and want to keep them, plus I think it will be more cost efficient and will shelter me from the cgt. I'm only thinking this through at the moment but if it's all good to go I'll be starting the ball rolling after summer. Thanks for the Info
  13. Im looking at flats just because I'm investing from afar and have very little time to invest with my current work situation. There seems to be some good figures for Nottingham and I've seen growth so it's somewhere I'm still interested in.
  14. I went in a couple years ago and bought a flat for just under 80k, it's right on the tram line which makes it popular, the block is occupied by a lot of tennants - mix of students and professionals. There's some up now ng76gb.
  15. Welcome Ross, I love Sydney and hope to live there in a few years, anywhere around NSW would be a real good life for me. I've a little experience with Nottingham but my properties have been below the price your looking at. From experience the properties which were nearly central gained a lot of interest from professionals who are working in the city on mid term contracts, and let out within a few weeks. I think it's a great place to live and the figures add up, plus my flat has grown 15% in value over the last two years. Good luck mate Jacob
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