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Phil Brown

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About Phil Brown

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  1. Afternoon Alasdair, Great to have you on the forum! Are there any particular areas of the property industry you are looking to get into or learn about? Cheers Phil
  2. Afternoon Michael, Great to have you on the forum! How is it you have a property that is partly rented and partly being refurbed? Is it a house that has been split? With wanting to get your money out and move onto the next investment. Are you going to refinance after the refurb to pull some of the initial investment back out? Cheers Phil
  3. Afternoon Tengreenbricks, Great to have you on the forum and thanks for the above message. It makes giving advice so much easier when someone tells us where they are at in their property journey. What you've done so far: Great to read you've been going to meetups, courses and have already invested in property. I'm a big believer that investing has a much better learning curve when you actually do it. All the principals have a real effect on you. Also having a solid goal in place is a huge help as property investing is long term. Areas: The areas you are looking at still have great growth potential and are not too pricey to get into. so great spot there. I currently have one investment in London that I used to live in and am in the process of buying a small block of four flats in Bolton. So I'm a firm believer in diversifying where you invest to get the best returns. Plans for the future: Getting your Tax's in order is a great thing to do and will give you and your accountant a much better view on how to spread out your taxes and mean its cheaper per year for you. I've just filed my returns the earliest I ever have and it does feel pretty good to get them in early. I hope some of that helps and keep updating us as to your progress. you can start and read other peoples progress journals here: https://thepropertyhub.net/forum/forum/15-progress-journals/ Cheers Phil
  4. Great question and perfectly timed, as this is the topic covered in today's property podcast. Have a listen here: https://www.thepropertyhub.net/whats-brexit-done/ Let us know what you think? cheers Phil
  5. Great point! I totally agree that the government has been under its quota for new housing for many years. But as you say. It'll only really be drop in the ocean.
  6. Today While giving a speech at the national housing federation, the prime minister pledged £2bn to boost social and affordable housing. After running through a list of achievements the government has achieved within the housing market in recent times, including the affordable homes program, new social housing green paper program and the tenant's fees bill. Theresa May moving swiftly onto outlining plans for the pledged £2billion, stating: “Under the scheme, associations will be able to apply for funding stretching as far ahead as 2028/29. In the locations where they are needed most.” The main question for property investors and the general public is, Will this actually make a difference? The government has been pledging money for improving the housing supply for over 14 years and we are still behind with an ever increasing population. Do you think this will have an impact on the housing market from investors, developers and tenants point of view? Let us know in the comments below.
  7. Afternoon Alicat, Great to have you on the forum and glad you like all the resources we have to offer. Is there any particular area of property you're interested in? or is all of it pretty interesting? atm? I find most of it very interesting across the board, but like 'vanilla by to lets' mainly. Cheers Phil
  8. Afternoon Cristi, Great to have you on the forum and great that you've set a strong aND specific deadline, it always helps! Have you been to one of our meetups? it's a great place to meet more investors and network with like-minded people. You can find a full list of meetups here: https://www.thepropertyhub.net/events/ Also, the quote for bookkeeping and setting up your limited company seems very reasonable to me. The fact someone that knows exactly what they are doing when setting the company up is invaluable to me. Also with all the new changes to landlord taxes as well as very stringent allowances that are always changing with regards what is and is not a deductible expense is something I am very happy to pay for. Just as a comparison, I pay £600 a year for my accountant. Then £150 to set up a limited company. I'm happy to pay this, as he has saved me lots of money in additional allowable expenses over the years. Also, the confidence and reassurance that my limited company has been set up correctly are well worth the extra money. I hope that all helps. Cheers Phil
  9. Hi Phil, I would always be looking to rent unfurnished if it's to a family, as the need to furnish it means the tenant is more than likely to stay for a prolonged period of time. Another view may be to negotiate with a potential tenant if they want it furnished or unfurnished, then adjust/ lower the rent depending on which way they want the property. I hope that helps/ Cheers Phil p.s. Great name!
  10. 9 months late and £590 million additional costs - How will the delay of Crossrail effect the London property market? Crossrail bosses have come under attack after it was announced the Elizabeth line will now open in autumn 2019 - 9 months later than originally planned. The service that will connect stations including Reading and Heathrow in the west all the way through to Abbey wood in the East. The delay has been put down to needing further testing and to improve railway software systems. Property owners and developers are facing another hit from an already stagnant market as price increases based on this phase of Crossrails completion being further delayed, meaning significant value to areas outside of London now not being added till the end of 2019 and early 2020. For more details head to these sites: https://www.standard.co.uk/business/property-bosses-angry-at-delay-for-crossrail-a3926431.html https://www.bbc.co.uk/news/uk-england-london-45367990
  11. Morning Stewhulley, Great to have you on the forum and it sounds like you've already got your strategy sorted out. Do you have areas you are currently looking at? or are you looking for areas around where you live? I can definitely attest to buying up north is a winner for flips and rents as the current buying prices are very low as well as rents in the right areas being very good. 10 properties does seem to be the goal for a lot of investors who are wanting to build up their portfolios. Is there any reason you want to get to 30? or is it just a nice high number that will guarantee a very healthy passive income. Cheers Phil
  12. Morning Markus, Great to have you on the forum and good work with all the self-taught education. It's the best place to begin and keep up to date, so as to make sure you'll be a winner in the game of property. With regards to running the numbers, we have a course on how to effectively run the numbers which may be of value to you. you can find it here: https://www.thepropertyhub.net/property-courses/ Another way to do it would be to post your numbers on here and ask for people to critique the deal or give advice. It's a lot easier to give advice when everyone can see what you're actually wanting answers too. I hope that helps. Cheers Phil
  13. Morning all, Patricia great to have you on the forum and amazing to hear about the vlog. We like them just a little bit on here anything which is spreading the word of investing the right way through property is good with us. Also, that's very positive that when looking for a place to refer people too, you found this forum. Great to hear and happy to help. Good luck with all the vlogging and when you're up and running, share a link with us so we can have a look. Cheers Phil
  14. Afternoon Alex, Great to have you on the forum and that you're thinking about how to start your investment journey. With regards to your questions: 1. remortgaging your current property to release equity which can then be added to a pot to invest is a great strategy. This strategy is used by a lot of people when starting off (including myself) to get themselves on the property investing journey. 2. The market is terrible at the minute! Which is great for anyone buying and means you'll be able to get more property for your money. If you look at the property cycle this correlates with the mid-cycle wobble, after which we will go through an explosive growth phase meaning prices will rise and you'll be able to buy a lot less. So with these points in mind, I would get into the market ASAP! If you have around the £35k to invest, look at the north (Bolton/ Wigan/ Liverpool) you'll be able to pick up a house or minimum 2 bed flat for that money (£80-100k buying price) and will cashflow around £400 a month, so ends up being a good ROI. I hope that helps. Cheers Phil
  15. Afternoon Sofiadaly, Great to have you on the forum and I'm sure it'll be a useful resource along your property journey. Cheers Phil
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