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brad sherwin

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About brad sherwin

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  1. I thought I would be able to achieve both as I wasn't sure what I wanted. I'm 30 and have a pretty good job and don't require capital growth. However, even though the answer was staring me right in the face its sometimes hard to see the forest through the trees. Plus I was only focusing on property in my city which is hard to achieve high yields and for my first BTL I wanted something I could refurb and let and the yield was high single digits, but it didn't feel enough. I've now had my eyes opened to the North and I will be selling one of my properties to chase the higher yields so
  2. I chose Yorkshire Bank as they have no charges and it literally took me five mins to complete online and got my card the same week. The app isn't bad either. I do remember on my last purchase I had to have my ducks in a row and transfer chunks of £20k to my solicitor. Not sure how that compares with others but it wasn't too bad - although it could be if purchasing multiple houses. Then again if your in that position, a charge for a few quid a month probably won't bother you
  3. Has anyone watched this 'show' produced by Samuel Leeds on YouTube? It's hilarious and follows an The Apprentice format and the voice over guy doesn't hold back
  4. You could property source if you have investor contacts. But you will need to be compliant. If you're feeling brave, maybe you could pursue rent to rents.
  5. I would personally let them off the bathroom carpet and install vinyl. As others have said, it's more hygienic plus it will be more attractive for the next tenant. Do you have a relationship with the tenant over those years or have you been hands off completely.....If the former then have you simply asked them to put it right [garden, lock, rails and oven]? And give them an incentive by highlighting the carpet and the other minors which you will let off as a good will gesture. Maybe that would do the trick! Everyone is saying these are small jobs but at the end of the day it should
  6. You'll also need a company bank account. I used the below link to find one which didn't have a monthly fee associated with it. https://www.moneysupermarket.com/current-accounts/business-bank-accounts/
  7. Are there money in the bank sales in your area for like for like property this year to compare?
  8. I use Property Hawk as its free and the GUI is okay. https://www.propertyhawk.co.uk/pm3s/
  9. Probably because this was a personal mortgage and I'm assuming Devon is expensive.
  10. I'm from Leicester and I just bought my second BTL in Ratby. The ROI is okay @ 5% at the mo, the only reason I bought it is because with a light refurb I should get enough equity to help me snowball. I think you'll struggle to an 8% ROI with a vanilla BTL. Good luck!
  11. Yeah, that is kind of scary Mason, how did you choose this property? I'm assuming you're the same as me - a distant investor. I'm struggling to decide which city, yet alone an area!
  12. I've been through this dilemma with my recent purchase. In the end I opted to go down the company route. My reasons where because I work full time and I'm in the 40% tax bracket, I have another BTL in my personal name and the tax cripples me!!!! Its just not worth the offset when I ran the figures for myself. I also knew it would be hard to take money out the company without being taxed again, that didn't bother me as I want to snowball short term. Lastly, I've almost saved enough for a third BTL which will go in the company too so the extra costs for accountants should balance out soo
  13. Is the property in an Article 4 area? You mention no licence and it would be impossible to get one if it is.
  14. Here is one I've been working on. Hope it helps. Development Calculator.xlsx
  15. +1 I'd also check to see if the property is in a Article 4 location. If so you won't be able to obtain a licence. Also, I'd review the local councils requirements for HMOs as this will dictate what extra refurbishment considerations you'll need i.e firedoors, bathrooms/sinks etc.
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