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t clarke

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About t clarke

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  1. We’ve bought 3 BTL as well as moving house ourselves during the pandemic so far and have been really pleased with all of them. As mentioned above, all were left in the best condition out of any we’ve got so far in terms of cleanliness which has not by any means been the norm with other properties we’ve bought. Most of these were bought at or only very slightly under asking, and I suspect that this is why the people surveyed are likely to feel they’ve overpaid. But the counter to that is that there is no way we’d afford the house we moved into now as the market has since rocketed on furt
  2. Thanks Rafael. There are probably so many posts about Coronavirus that this just got lost in the ether! I don't have rent guarantee insurance, but am also not too concerned having had a discussion with my tenant. Clearly things change daily so who knows whether their situation will take a turn for the worse. Thankfully these particular tenants have been in place for a year and have a business close by so I think they will be cooperative in finding a solution should we need one. With regards your dilemma, contacting your insurance as you've done definitely makes sense. I think reg
  3. Thanks Richard, these were my thoughts exactly. Since posting this there was a statement by RLA and NLA encouraging landlords to work with tenants to assist them as much as possible. https://landlords.org.uk/news-campaigns/news/landlords-call-package-support-tenants-hit-coronavirus This gave me some reassurance I could avoid such a gesture being taken advantage of later down the line. I’ve since been one touch with our tenants who were appreciative of the message and absolutely fantastic In their approach to the current situation. I’d encourage others to do the same a
  4. I’m looking for some advice from anyone who is familiar with the legalities of managing tenant disputes please. We have one property that we self manage and is tenanted by a couple who own a cafe. Given the restrictions on social gathering their business is clearly going to be affected over the coming weeks. I would like to get in touch with them to check they are ok and offer support, and was thinking that it may also be in both our interests to tell them to discuss with us if they are struggling financially and need to make any alternate arrangements for payment of rent, for example d
  5. Yeah I was only being a bit tongue in cheek suggesting it’s running to the year. It’s always going to be impossible to predict exactly with all the variables, not least Brexit as many have pointed out. Like Michael I’m new to this (only heard the concept for the first time a year or two ago) so it’s super interesting to see the wheels in motion and loads of the indicators that you hear about playing out. All lining up for human nature to set in and for everyone to get carried away which can only end up one way. I in no way want to wish away the best part of 10 years but I will
  6. Saw a couple of news stories this week that instantly got me thinking about a podcast favourite - the 18-year property cycle. They both relate to new contenders for Britain’s tallest building to be built bang in the centre of London. What I found particularly interesting was that they are both, according to the articles, scheduled for completion in 2025-2026...exactly 18 years on from the last property crash. This is in addition to the already approved 1 Undershaft scheduled for completion at a similar time. The Two Robs say in all their material on this topic that
  7. Hi, We’re approaching completion on a 3-bed Semi in Stockport that needs a full refurb including removal of one wall, installation of central heating and a rewire. Ca anybody recommend any contractors covering the Stockport area that take on full management of this type of project, or alternatively any specific trades people covering then same area? many thanks Tom
  8. Hi everyone, As I'm sure most of you are, I'm incredibly interested in the principle of the 18-year cycle in which booms and busts seem to repeatedly recur throughout history with amazing consistency. I am very interested to learn as much as I can about this topic as I find it so fascinating. Does anybody know if there are any dedicated books on this topic? Ideally the deeper and more technical the better! I want to get stuck right into this one if at all possible. Cheers Tom
  9. Hi, Does anybody have a spread sheet template that they can share for recording investment activity through a limited company? We have set up our company, and are beginning to accrue costs through purchasing properties. Before this gets too far in I need to start recording it all ready for company returns at the end of the year. This is going to get more important as the properties are actually completed and regular costs and income start coming through. I'm not sure how others do this, but I guess that there needs to be some way of showing overall costs vs income for
  10. Hi, Im guessing this is going to be a difficult one for people to answer, given the variables involved, but I thought I'd givebina go. I'm looking to secure my first BTL property and have found one that seems to stack up. The property is listed for £125k, and has been on the market since August. It had an offer accepted but fell through due to lack of funds in October, and by all accounts has been quiet with regards interest over the Xmas / new year period. The vendor is an owner occupier that moved out just over a year ago, becoming an accide
  11. Hi folks, hope you've had a happy Christmas and are all set for 2017! Does anybody know of any good mortgage brokers that specialise in, or have good experience in finding, BTL mortgages for Limited Companies? I have a couple of properties that I'm interested in and need to get myself financing arranged so that I can begin making offers. I'll be purchasing through a limited company so figuring your highstreet brokers may be less suitable. I'm in the Manchester area so any local to here would be ideal, although I appreciate location isn't critical.
  12. Thanks Richard for your very detailed response, that's really useful! Certainly gives me something to go on and consider. We're in it for the long haul so ROI in the short term isn't necessarily the be all, but obviously want something that makes our money work efficiently. ill be sure to check out your blog. Always looking to learn more. I think I've heard a couple of your podcasts already come to think of it so will try and listen to a few more of them too. Happy new new year to you! Tom
  13. Thanks Kevin. So I guess what you're saying is that it's unlikely to have a great bearing on sale price unless it's right around that 80 mark? ill definitely be chancing my arm, but good to know it's not a complete waste of time looking at flats with this kind of lease remaining.
  14. Hi all, Thanks for the advice on this post as this is a topic that I am currently in turmoil about. I have found a property that I am interested in buying that is currently on the market for £110k, but that I am confident I can get for closer to the £100k mark for reasons I won't bother going into here. This was all based on my feelings BEFORE I found out that the remaining lease term is 86 years. I've no experience in buying leashold properties, and certainly not in extending leases. The calculators in the posts above suggest that the cost of extending could be in
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