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Jayne ODea

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  1. Hi all, I’m hoping someone can help me out with a bit of mortgage advice. Over the last 2 years I’ve bought 5 houses with the intention of using the BRR strategy. The first 3 fixed rate mortgages are almost up but my mortgage advisor says I can’t pull out any equity due to the new stress rates. I currently get £400 pm rent and the mortgages are around £100 (I’m up north!) Does what he’s saying sound right? And if so, is there an alternative to keep my property dream alive!?
  2. Hi, Thanks for the advice. I've written to the landlord and depending on his reply I'll decide if/what action to take next. Definitely food for thought about buying it - it will certainly be cheap! Jayne
  3. Hi, I'm looking for some advice on how best to approach anti-social behaviour. I've recently had a tenant vacate and I'm struggling to re-let the house as since I bought it a tenant has moved in to the street who is causing problems. The house is in a very visible state of disrepair with broken windows, piles of rubbish, even a horse in the back yard at one point! There is also alleged drugs dealing. They have been reported to the police on numerous occasions but to no avail. I have the details of the landlord from the Land Registry so I'm just wondering whether it's best to contact him in the first instance or report the tenant to the council - or both. Any advice on the most effective approach to take would be gratefully received.
  4. Hi, I've just finished the refurb on my first BTL and hopefully will have a tenant in place soon. Can anyone recommend a good accountant in the County Durham area?
  5. Hi, my name is Jayne and I’m a new investor currently in the process of buying 2 BTL properties in County Durham. I became an accidental landlord when I rented out a house I used to live in 3 years ago. Since discovering leveraging I have raised sufficient funds from this to put down 3, possibly 4 deposits. After months of research I finally found my gold-mine area and have successfully negotiated the purchase of 2 properties. Surveys on all 3 houses (existing one and 2 new ones) have been carried out. I had a bit of a blow with the survey on my existing property as it has been valued at less than I paid for it 8 years ago, but on the positive side, it proves prices are staying low for buying. My first purchase should be completing within the next few weeks and I would welcome any advice about the refurb. It does need fully decorating (currently has bright red/steel grey walls) and new flooring throughout. I’m not sure if it’s best to go carpet or laminate for the ground floor. Also, what are your thoughts on staging, I’m obviously keen to find a tenant asap so happy to do this if it helps? My plans for the future are to invest in more BTL properties, sufficient to be able to replace the income from my part-time job and make a career in property. As I’m brand new to this I would be grateful for any advice to minimise the mistakes I’m bound to make along the way.