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gregmich fuller

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  1. Really useful, thanks for sharing!
  2. Hi John, Thats the stage we are at right now. I have been analysing close to us based on knowledge of the area rather than a desire to invest here (cotswolds, south midlands). I see it as practising with the numbers in a safe area. The obvious places to focus on seem to be in the North based on the data I am reading (and hearing from the podcasts etc) so I will be turning my search soon to Leeds, Manchester, Stockport, Bolton, Newcastle & York. Cheers Greg
  3. Great prompt. Was already following on twitter but hadn't thought about FB. Now on both
  4. Hi, I presume by letting costs you mean both upfront costs + ongoing management fees (if going down that route)? gas certificate / epc?
  5. Hi Uthman, Firstly good luck in sorting this through in your head - it can be quite overwhelming at the start....we're in the same place! It seems Stephanie has already given lots of good and relevant advice so nothing further to add from me really. The only thing I would suggest (as an activist) is to proceed with a strategy you think is right, find a property you think is the right one for you, and go as far as you can on that journey without actually committing anything. At that point you may feel its right / or not, but this could help you to gain some momentum and learn some early lessons? Best of luck, Greg
  6. Hi Aaron, Also new to property investment. We are about to get underway in the coming weeks with our first property. I wish you every success, and look forward to hearing about your exploits. Greg
  7. Hi, About to start our property investment journey. Michelle (my wife) and I quit our jobs a year ago following a personal set back and decided to travel the world, something we wanted to do for a long time. It really allowed us to take a pause out of the rat race, take a deep breath and stop and think about where we were in our life. And lo and behold we realised that we had been focussing too much on the traditional criteria of success and not focussing on ourselves enough. We also realised that we had financial freedom within our grasp if we made some radical but common sense steps (such as downsizing our current/old house and releasing the equity, minimising our spending, investing in cash positive assets etc. Yes you can see we read Rich Dad/Poor Dad whilst we were away!!). And so as part of our approach to reach this financial freedom we are beginning to invest in property. Our goals are simply put, not to have to work in 3 years time but please don't underestimate the amount of thinking and deeper emotional and financial planning we have put behind that goal! So, we're currently lining up our finance, establishing and documenting our annual, monthly and daily goals and looking to pull together our 'super team' in preparation. Our strategy is for a safe and steady income focussed portfolio within the professional lets arena. We have a monthly / annual net income objective of £5,000 per month / £30,000 per annum to achieve in 3 years. We are lucky enough to have an investment pot of £400,000 to get us up and running in order to achieve this and also luckily one of us can focus on this full time hence the ambitious timeline. Our strategy and realisation of our outcome is based on an expectation of achieving a minimum net yield of 2% (before tax) on each property. Playing it safe we will be focussing on adding good quality 3 bedroom family / professional properties into our portfolio. Based on the enormous wealth of experience within this forum I would love to know if our strategy and ambition is achievable in your experience and whether we are being realistic, particularly in our expectation of a minimum 2% net yield. Any other ideas, feedback or suggestions would also be enormously appreciated! Thanks in advance and we really look forward to hearing from you, Greg & Michelle
  8. Hi, Been following everyone's progress for a while now whilst plotting our entry into the property investing arena. We are about ready ready to get started now. We've formed a limited company and have a few properties on our radar to look at and potentially bid for. However we we are looking for some recommendations for a good mortgage broker who has experience arranging mortgages for limited companies. We are based in the midlands (just south of Birmingham) and someone local to us would be ideal. Please help, many thanks! Greg & Michelle
  9. Hey, we are complete newbies who are renting our main residential house whilst we take a mid-life gap year. During this gap year, we have read Rich Dad, Poor Dad, and so have decided that a 5 bed house in a premium school catchment area isn't the best use of the assets of two childless people. We have made the decision that we are going to buy a smaller house in a less family friendly place to reduce our ongoing costs. The main residential house has 75% equity due to improvements, mortgage repayments and overall property value increases. Can anyone give any advice on how we can decide whether we sell this house to realise the equity or if it is better to remortgage and continue to let. Either way we will be using the capital released to buy property to let. Our aim is to have an income large enough to enable travel and work freedom. Thanks in advance everyone! Michelle & Greg