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conor wright

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About conor wright

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    Warrington, Cheshire, England

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  1. Hi all, I'd be interested to hear what kind of 'minimum financials' you look for when assessing deals - specifically, standard BTL's? Minimum net yield (%) Minimum net monthly cashflow ( £ ) Cash left in the deal (£ or % of total) Mininmum ROI post-refinance on cash left in the deal (%) Payback period on cash left in the deal (months/years) Just playing around with some figures into a spreadsheet, and trying to assess what would be deemed a "relatively good" deal - a recent example being: 2.9% net yield (based on 3% interest rate) Net c
  2. Hello PropertyHub Community, I've spotted a property in my local area which has been on the market since August '18, listed for £55k, and is currently of vacant possession (I believe the former owner has recently deceased). The property requires a cosmetic refurb, with complete modernisation (including kitchen, flooring, repainting etc.) though nothing 'too' heavy. Sold comparables in the area are more like £75-£80k, so it looks as though there's money in the deal, and it looks to be a great opportunity (has the right fundamentals, location, schools etc. etc.). However.......
  3. Thanks Mogsie - I've just booked onto the 2nd Feb Manchester Meetup (my first one!) - so hopefully will see you there!
  4. Funnily enough I was in Newton last week (our Dog's vet is located there!) and as I was driving through I noticed it's a fairly nice-ish area. Good transport with links on the M62/M6 and a fairly major railway line. Definitely somewhere I'd consider!
  5. Thank you very much for this Darren - I'm currently at the stage where I'm researching deeper into local areas etc. but am yet to contact estate agents (definitely on the to do list!) I'll make a note of them and be sure to have a dig around! Thanks again
  6. Definitely, the major thing is that you are 'on-the-ladder' and have started. You're also in a great position given your line of work. Congrats for taking the plunge! Out of interest, where in St Helens do you tend to look? I know there's a fairly good yield available in St Helens, and am currently researching the area - areas like Parr, Sutton etc. Thanks for replying
  7. Thank you very much, hopefully you found it useful! Have a good one
  8. Hi Joe, I'd agree very strongly with your third point - it's a massive 'want' to get involved, but limiting factors aren't yet allowing, which is frustrating and kinda turning me impatient. After a while you start thinking to yourself "why haven't I taken action yet?" however given an extra £20k now I'd be straight in there. It's just not yet the time, and I as you say, I have time on my hands, therefore why rush? I'll definitely take your advice on, and thanks for replying. Have a great week. Conor
  9. No problems, glad I could help you out. Good luck to yourself also!
  10. Thank you very much Phil. Only took me 3 days to write! ha-ha. Good luck to yourself! Conor
  11. Thanks for your reply Joe, I have sent you a private message.
  12. Thank you for the reply Richard! The three examples were quick mock ups and aren't 'real life examples' - whenever running the numbers on an actual deal, a tip I learned from the podcast was also to look at whether it's commercially viable (as you say - a mortgage <£40k seems unrealistic - and bridging finance may be more applicable!) I've just signed up to your newsletter/email and will be sure to download a few podcasts! Thanks again, and kind regards. Conor
  13. Hello! Background to me My name is Conor. I am 24 years old and was born/raised and still currently live in Warrington in the North West England (a fairly sizeable town smack bang in the middle of Liverpool and Manchester). By day I am a Chartered Accountant - by night I am a gym/self-development/dog-loving individual. My interest in property / my 'why' I've always been interested in business. As accounting/number crunching/general business advice is my profession - such as explaining and helping people administer their income/
  14. Hello Joe, from nearby Warrington (a favourite of Rob Bence's)! I'm in a similar situation myself, i.e. I'm sponging/reading/listening/talking to as many people as possible before I intend to make my first investment next year. Only up to episode 33 on the podcast (found it reasonably late) but now at the ripe old age of 24 I think it's time to stop letting inflation eat away at my bank deposits and take the plunge... I'm looking to go 50/50 with a personal friend, mainly due to this halving the start-up capital involved, as well as being able to bounce ideas off of each other.
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