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drkidd

Established Member
  • Content Count

    193
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About drkidd

  • Rank
    Established member

Profile Information

  • Location
    Greater London
  • Areas I invest in
    Invested; Ruislip, Uxbridge, High Wycombe
  • About me
    I love the PropertyHub, Forum and Podcasts. There are a lot of threads which ask questions but never get answered. Let's all contribute content to ensure this a forum which helps one another
  • Property investment interests
    Single Lets, Refurbs to Let, HMO, Rent-to-Rent

Recent Profile Visitors

1,805 profile views
  1. Hi Kash, I agree with you and removing that clause. I dont think rent to renters should be taking all of the profits and none of the risk. "Guaranteed rent" (assuming this is how it's being positioned) isnt guaranteed if they can walk away as soon as the market turns in a direction not favorable to them As you're entering a legal contract, have you thought about seeking independent legal advice and asking your rent to renters to cover the cost? If they want your property, it may be something they consider
  2. Hey Tedy, thats great that you were able to learn to do the electrics yourself. If you are renting that property, you'll have to make sure have your connections checked by a qualified electrician and your work certified. I have no doubt that you can save money doing electrics yourself, but as of April of this year, landlords are required to provide an EIRC certificate with any new tenancies to ensure tenants are living in safe environments
  3. Hi Kiddtom At lot of people will have the same view as you right now including myself. I'm also self employed and think cash is king during these uncertain times. Although, now I've got a small war-chest together, at the point where I think we're through the thick of it, I may then look for a bargain property and try and get something before the market recovers and charges on. If you've secured a good deal, you might want to ring fence it and agree to get a survery done once people are out of lock down. If by this point you feel the market has dropped lower than your current offer, yo
  4. Update; I've been using this a few months now and it's replaced my tired old spreadsheet. I quite like it Thanks Matt
  5. There are standards set out by local councils and then there are standards expected from your target market. One of my HMOs has a ratio of 1 bathroom and 2 separate toilets to 5 students. I've never had any issues finding student tenants. But then I believe i offer a good product despite the ratio. It's nicely decorated, has good furniture, good amenities included. Arguably this could change as the market potentially saturates with HMOs. An ensuite for each tenant could differentiate from the middle of the market. But then for me, the cost of installing and maintaining 5 different sets of
  6. What bearing do we think the recent 50% drop on global markets will have on property? Usually property follows shortly after. With such dramatic drops on our indexes, are people still speculating that this will still be a middle cycle "dip"?
  7. Hi Lou Welcome to the hub! its great to have a plan to get you to your goals. And viser verser your goals will help create a plan. And so to answer your question about 26 years or 22, if your goal is to get to 2k per mont cash flow as quickly as possible then reducing your mortgage amount per month as much as possible would get you there quicker. If your goal is to repay your mortgage as quickly as possible and have a lower leveraged portfolio the a shorter mortgage term would be the best thing for you My question would be, if on paper you you’ll live at the house but not live t
  8. This looks like a good find Matt. As it's free, I think i'll sign up and give it a try Thanks
  9. 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
  10. 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
  11. 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
  12. 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 Deve
  13. 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
  14. 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
  15. 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 cov
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