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lee gordon

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About lee gordon

  • Rank
    Established member

Profile Information

  • Location
    Stamford, Lincs
  • Property investment interests
    Keen to link up with any experienced investors in the Warrington or North West area.

    Initially looking at good yield properties for cashflow. Once established, will look to invest further south to maximise capital growth.
  • My goals
    Looking to match my military pension once I retire at 55.

    Want to have a suitable funds available to put my kid(s) through university (first child born in June)
  • Interests outside property
    Huge rugby (league) fan, keen gym-goer (comes with the job)

Recent Profile Visitors

669 profile views
  1. Hi folks, I am in a unique situation and would love to hear your views on whether to take a 2 year fix, or to accept higher risk tracker (for a lower monthly mortgage payment). I was sent to the USA to work for 3 years (military with a BFPO address) and will be here until Nov 17 or Summer 18 so am classed as an expat for mortgage purposes. I am reaching the end of my 2year fix with Virgin Money (3.59%) and have investigated re-mortgaging up to 75% (bought a flat for £67,500 and currently worth £85,000 with a mortgage of £51,500) and extracting the circa £11,000 to add to my savings fo
  2. Just signed it too. It's at 3946 now. You've got to be in it to win it (back)!
  3. I don't have a FT subscription unfortunately Pete. It won't let me view it. I am in the USA though so not sure if this has anything to do with it.
  4. Matt, Welcome to the Property Hub community! You've certainly come to the right place and there are no such things as daft questions! I don't get on here and contribute as much as I'd like, but I do enjoy spending time in the forums! Enjoy! Lee
  5. Hi fellow hubbers, I'm still in the early stages of building my property portfolio and currently have 1 dedicated BTL flat bought in June 2014 and I rented my house out (consent to let approved prior to departing) when I was posted overseas for 3yrs back in October 2014. I am looking for some advice if possible, as I think that I now have an opportunity based on recent increases in the property market where the house is located (Stamford) to remortgage onto a BTL product and release some equity to purchase another property. The current figures: Property bought for £170k back in
  6. Richard, Many thanks for your replies. Apologies for the late response from me. The annual ground rent is £250 fixed. After 10 years it is due to double. Again it will be fixed. That is all that was stipulated. I have no contact with the other leaseholders, but had a good chat with Rob B over the phone a couple of days ago about it. My thoughts are that I wouldn't really get the benefit of spending over £5k of my deposit for my next investment from buying my portion of the freehold. That said, the point about the service charge, I agree, is entirely valid. However, the on
  7. Good evening all, I thought I'd call on the collective experience of the hub for this one, as I am relatively new to the BTL world (1 x pure BTL, 1 x soon to be accidental rental property...overseas posting). I completed on my first BTL in June and the property was bought with a 125year lease. A few days ago, I received a letter from the developer (Taylor Wimpey), informing me that they inted to dispose of its freehold interest in the building. The 16 flats in my block appear to have all been sent the same letter offering to buy the freehold to the block. We have until November to r
  8. Thanks for the reply Kylie, I'll just start by designing an Excel Spreadsheet, but if anyone has a better system, I'd be keen to hear what it is. In an ideal world, I'd like an App that I can easily just select a property, and add the expense etc and be able to print off monthly/annual summaries (e.g. take the manual Excel manipulation out of it). I may have just given myself an idea!! Anyone know how to design Apps for smartphones?? Lee
  9. Alas! Soon after posting the above...found the edit button.
  10. Thanks Andy, In the absence of knowing how to edit the title of my post, I'll have to hope that people don't think I've just started in the Bacon Lettuce & Tomato world as my title would suggest! D'oh!
  11. Afternoon all, I have just started in the BTL world and recently completed on my first BTL property. As I will now be completing my own tax returns, I recognise the requirement to keep accurate account of all costs/expenditures made for my property. Apart from keeping all invoices/receipts etc and logging everything on a MS Excel spreadsheet (my plan at the moment), I thought I'd ask the hub how you keep track of your expenditure on your BTL properties? There is no doubt a more efficient method, but I'm keen to learn from the collective experience of the Hub. Many thanks Lee
  12. Thanks Tim, You raise some very valid points indeed, particularly the potential for the costs of these furnishings to eat into profit margins. Thanks for the responses!
  13. Hi Ralph, Thanks for taking the time to reply to my question. I hadn't actually considered allowing the first tenant to choose the curtains/blinds. This is a great idea and something that I will look to do. Thanks again Lee
  14. Good afternoon all, I apologise for the stupid question, but my wife and I have just completed on our first BTL property and are very excited at having taken our first step to achieving our goals through property (thanks RMP!) Whilst I am clearly keen to get the property rented out ASAP, the property, whilst fitted with flooring & white goods, does not have any curtains or blinds fitted at the moment. So my question...(and I already think I know the answer but thought I'd ask anyway) is whether a tenant would expect a new unfurnished apartment to have curtains or blinds on each
  15. Hi John, Great article! I'm very much a newbie and about to complete (next Friday) on my first BTL property thanks to RMP. Having taken the time to educate myself before taking the first step into the BTL world, I would very much recommend using professionals, particularly a whole of market mortgage broker. What your article demonstrates to me is that advice from knowledgeable professionals is crucial. The easy option for your client would have simply re-mortgage onto another 2yr fix, but seeking professional guidance saved and ultimately made him a good amount of money.
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