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drkidd

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About drkidd

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  1. This looks like a good find Matt. As it's free, I think i'll sign up and give it a try Thanks
  2. Welcome to the forum Monika. Where is your estate agency? Could be mutually beneficial to you and our members to say what area you cover
  3. Hi Paul Lilla D (on this forum) from Bluewing financials has been my mortgage broker since the beginning of my journey. We've been working together and doing deals for 10 years this year. I recommend her without hesitation to all my friends and family https://propertyhub.net/forum/profile/17771-lilla d/ (I am not affiliated or compensated in anyway for recommended her services) "efficient" accountant and solicitors I find are much harder to put my name to
  4. Welcome to the forum Craig. There's been a few mentions about the prospect of growth in your town of Nottingham. Hopefully you can use your local knowledge to your advantage should you choose to invest in Nottingham In any case, best of luck in your journey
  5. Welcome to the forum Lumz 2nd home stamp duty is a thorn in many an investor's side. Fortunately you're aiming at buying houses to the value of 100k which means the first rate of stamp duty is zero and the 2nd home rate of stamp duty is +3%, meaning on a 100k house, your stamp is only £3k I've been investing in the South and paid far more in stamp over the last few years If you're adamant on avoiding 2nd home stamp, then you might want to consider Commercial to Resi conversions. Buying particular classes of commercial premises does not qualify as a 2nd home and with Permitted Development Rights means they can easily be converted into dwellings. Or, I have also heard that if the homes are uninhabitable (ie usually without a useable kitchen or bathroom) then this technically is not classified as a home as it cannot be lived in. It also means it cannot usually be mortgaged, so you'll either need to pay cash or considering bridging. But then bridging finance costs may outweigh 2nd home stamp duty if you had bought a home which could have been considered habitable Best of luck in your journey
  6. The membership requirements are simply that you are a trade or have a company? If you do not have a company, your builder or kitchen fitter should be able to buy the bits for you I have used Howdens on all of my properties bar my first one. I find that the sheer volume of different trade counters means that availability is never an issue. You can also request if you want your units rigid or flat pack; flat pack taking more time to assemble but saving you money. Whoever you choose, if you are planing on buying more properties in future then it is a good idea to standardise and stick with one supplier. Not only could your loyalty earn you greater discounts, but it makes it very easy should you ever come to damage or replace anything. For example a B&Q door wont fit a Howdens carcass without some tweaking. So by standardising with just one supplier, should you have any breakages or need to update, very little thought needs to go into which kitchen you put into which house. I was very fortunate with one of my houses I bought as there was a very old and dated Howdens kitchen already fitted. I was able to replace all the doors and end panels completely modernising the kitchen for a fraction of the cost of replacing the entire kitchen
  7. I bought a BTL with Magnolia walls. The walls needed touching up, so I went and bought a tub of magnolia and touched up grubby areas. Problem is, there are hundreds of shades of magnolia and the tub i bought did not match exactly. In hindsight I should have painted the whole wall. But there were a lot of walls which needed touching up You dont tend to get this problem with white. It's much much harder to identify touch ups. So my preference now is to paint big walls and ceilings white and add splashes of colour to smaller feature walls. This way in futrue if you have to touch up white, it's an easy match or if you have to touch up the feature wall you can do so in relatively quick time
  8. Hi Roy I believe the reason the banks like 20-25% equity from the investors is that if the market crashes it is unlikely that the housing market will dip greater than 20%. In 2008 the UK housing market fell on average by 18% (although London quickly recovered). This would avoid pushing you into negative equity and de-risk you defaulting for the banks. I am actually grateful for the new stress tests the lenders have in place. Yes it is harder to obtain finance, but these extra hoops to jump through are safeguarding me from over-leveraging or buying a property where the rent just wont cover the mortgage payments if the market was to change. Caveat; it is still possible to over leverage by seeking out higher geared products or refinancing HMOs on commercial values (as opposed to bricks and mortor) or forcing the appreciation artificially high
  9. Hi Jason, I had the same problem as you. My tenants abused "bills included" by drying their cloths on the radiators full blast and leaving the windows open to cool down the house! I now have a Nest and a Tado installed in a couple of my properties. Both have the ability to link up to smartphones so that when all the phones have left the house (normally with the tenants), the heating turns itself off. If placed in the correct place, the Tado can supposedly sense a draft from any open doors and windows and also turn down the heating. All in all, good investments if you're trying to keep the bills down You might want to also consider writing into your AST's that the bills are subject to a fair usage policy and, excessive costs will be passed on. Difficult to police because one person's definition of excessive may not match yours. But just having it there may help if you ever need to pull them up on high bills
  10. Hi Fiona, I used Arthur Online for a while. I didn't exploit the full potential of the app before I stopped subscribing. I was using it as a bit of a document store and calendar reminder for when certificates were due to be renewed. When I realised I have multiple clouds and calendars that do the same thing, i stopped paying. One of the features I didn't use which could be attractive was linking it to Xero which in turn links to your bank account so you can see when the rents come in. You can also give the tenants access to their own version of the app which can then be used for flagging up issues Hope that helps
  11. drkidd

    Newbie

    Welcome to the forum David That's a very open question which may require an essay/book of an answer. I would suggest browsing through the "i need help" and "newbie advice" sections of the forum to see what kind of problems seem to be cropping up Best of luck in your journey
  12. Welcome Joris! I love to visit France! I'm curious to know where you might invest if anywhere other than Paris? I assume Paris, like London has it's own micro-economy, causing property to inflate way above the rest of the country possibly with the exception of the south of France? Best of luck in your journey
  13. Hi Andy, Welcome to the forum! I think people use different measures to work out if a property is "good" or not. What might be good for you might not be good for others. You sound like you're building for cash flow so you may want to focus on yield and aim to get this as high as possible. The higher % return you can get on your money in, the quicker you will build your monthly net cash flow. Yields tend to be high in areas where capital appreciation isnt as strong as the low property prices relative to the rental returns create higher yielding returns. In areas where capital appreciate is strong, property prices increase and when compared to the rental returns then, yields diminish. I'm an advocate for investing in an area you know well. You might know better than investors further afield where the better areas for investment are ie where are the more desirable areas to live and rent. Best of luck in your journey!
  14. Welcome to the forum! Have you picked an area to invest? Or had any thoughts on what strategy you might follow? Best of luck whatever you pick
  15. Welcome to the forum Chris Congratulations on your first BTL! Hopefully the start of a prosperous future for you
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