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stoil topalov

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About stoil topalov

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  1. Thanks Silv - i've looked at Allagents before - one thing i don't like is that there is a bias towards online agents, i.e. PurpleBricks will get reviews from across the country so it might have 1,000 reviews and 4 stars, which makes it look better than a local agent that might have 5 reviews of 5 stars.
  2. I echo what was said previously, plus a few other things to note: 1. I've been reading articles since 2015 in national news saying that house prices are ready for a 50% fall. That obviously hast happened. While markets go through peaks and troughs, you can lose a lot of money trying to call the tops and bottoms. 2. Prices in areas like the North of England or Wales tend to have more stable rises and falls. The market in big cities tends to be crazy and go up and down a lot. In 2008 the average price in London fell almost 20% whereas in the North it was more like 10%. Having said that, there are a few things you can do to survive almost any "crisis": 1. Make sure you have ample liquidity. As soon as cash and therefore time starts becoming your problem and you're desperate to sell, you'll almost certainly lose out by striking a sub-optimal deal whatever the economic cycle. If you can comfortably live your life and wait-out any downturns then property is definitely a good investment. 2. Your entry point is probably the most important part of the entire transaction. If you buy the property low enough, you have a lot more flexibility. Unless you're buying your dream home, you're probably looking for ANY house that fits some criteria. I usually make offers for 6-7 places at a time, but I make them VERY low. That's because I am not attached to any of them. 5 might reject straight away, 1 might bite and it might take a few months to find the one that does, but if you can save 20k on the asking price (which I have before where a house has been on the market for 80k and I've bought for 62k) that gives you the kind of breathing room you can never achieve by cutting costs on the renovation or fees.
  3. Hi Adrian, Are you looking for refurbs/flips or buy to let's? i've bought remotely before and it was a combination of speaking to a few estate agents (what would they market the property for/ do they think it needs any work doing' what has been the feedback of other viewers), doing my research online (previously sold prices on that street, price trends, recent activity, I.e. Is it mostly buys/sells or rentals), lastly when I knew I was really interested I paid £600 for a local RICS surveyor to see the property and prepare a comprehensive structural survey. in the context of a house purchase of 50-60k, £600 for a survey really didn't seem all that much...
  4. Hi all, I was having a lively discussion with some fellow investors and wanted to hear what people on this forum think. Whether you're a seller or a landlord, how do you choose which agent to market your property? I've had 3 projects with 3 different agents and I can't say I've nailed down a system yet. First, I went with the cheapest, thinking it was good business sense. But of course, you get what you pay for, which I learned the hard way. Then I went for the agent who originally sold me the property - thinking they know the property and how much work I put in renovating it. And lastly I went with a personal recommendation from a friend who had a good experience. All 3 eventually sold, which means I can't complain too much, but I want to develop some kind of rule/decision process to make this easier. What does everyone else do?
  5. Hi Marra, Usually there is a window of time during which the council can take legal action (4 years, i think?). Ask your solicitors. If the structure has been up for 10 years, I doubt the council can justify any action. In most cases, getting a retrospective planning permission shouldn't be a problem - and if you need a mortgage on the property, your lenders might insist on it. Is the sewer private or public? You will probably need a build-over agreement with the water company before you can mortgage the house if public. If the sewer is private, then the only thing you need to worry about is if any work is needed to be done (although unlikely that this would involve digging up your floors). This might scare prospective buyers though.
  6. I am not sure about that. 3.75% p.a. for a peer-to-peer loan? Other peer-to-peer networks (albeit not property) offer around 7%-8%. If i think, a usual BTL can get you as much as 9%-10%, so if they are offering 3.75% it means most of your money is actually going towards paying the different admin fees, management fees, etc. Like with any investment, high management fees are the death of your portfolio. As Warren Buffett says, if you want a no-fuss investment, put your money in a low-cost index fund and let it compound over time.
  7. Hi, Try this site. About halfway down the page there is a Joint Venture agreement template: http://www.property-investment-blueprint.com/free-property-tools.html
  8. Hi Olly, Are you going into business yourself or with others?
  9. Hi Aidan, I hope I can answer your questions, but I am no expert either. There is no substitute to some professional advice, and many tax and legal companies can give you a free consultation. What I found through the process was that for a private company, the range of what you can agree with your shareholders is very wide, and you can add a lot of conditions to the agreement, which will aid you if there is a split down the road. On item 1) - what you can do is stipulate in your shareholders agreement that in the event of death of one of the partners, the shares will be split into 2 categories Voting and Revenue. The surviving partner keeps 100% of the voting shares, which means they make all the business decisions and run the day to day operations, whilst the deceased partner's beneficiary get the proportion of dividends they are entitled to. I have decided to do this split in my company from day 1 - because my partner is just in it for the income and isn't necessarily interested in picking the investments or doing any of the operational work. On item 2) I think this is also related to item 1 should the deceased's beneficiary decide they want completely out of the business. I would suggest in order to avoid a lengthy legal dispute which may bring down your company, you stipulate in your shareholder's agreements that a partner can only get out if they have a ready buyer for their stake. So in your example, they would find someone who pays them £125,000 and replaces them as 50% owner of the company. If you want to buy your partner out but did not have the funds, you would have to get a loan (as an individual, not the company) and pay your partner. Then you become 100% owner of the company, and you have to pay back your loan, but you also now get 100% of any dividends (hopefully 50% of the dividends will be greater than the interest on the loan). This obviously is contingent on the size of the 50% stake - you might have to secure the loan against the shares if the amount is very large. On item 3, I am afraid I do not know the answer, although that is a really good question. From my understanding, because the company is a separate legal entity to you or your partner, changing the owner/shareholders should not mean any stamp duty is paid - this is because the legal owner is the company, not you, and the property is not changing owners.
  10. Hi Nick, Your builder can sort this out and bill you for it (usually about £200). They will arrange with the council for inspection and I suggest you go down that route as the council will ask quite specific questions which in my experience I've not been able to answer. Unless you are touching the neighbouring properties you won't need planning permission - I am guessing for a detached house you won't be.
  11. hello, The only thing I can think of is visit the below websites - they have podcasts and forums too where you can get specific advise: http://www.self-build.co.uk/ https://www.homebuilding.co.uk/
  12. Yeah I would suggest the Merthyr area, basically the A470 corridor north of Cardiff is very popular and will benefit from new investment into transportation networks and infrastructure which should make it more commutable to Cardiff. I've been buying/renovating in the Pontypridd area, and that seems to have a healthy market. I haven't had a property sit on the market for more than 2 months. I am not really involved in BTL, but it seems like an annual return of 9%-11% is fairly standard around that area.
  13. Hi Abby, Yes, the investment by the Welsh government has definitely had an impact. The South Wales Metro in particular but also investment in rolling out fast broadband etc. I find the demand has increased from young professionals working in the Cardiff area, as the commute time is good and the improved infrastructure means you have decent utilities and other services. Even though areas like Caerphilly have a higher average price at the moment, I feel there is lower scope for future growth there. What I would say about demand is that March and July tend to be the strongest months in terms of viewings/offers. December through to February is usually quite dead. I tend to want to buy around January/February, as vendors are more likely to accept offers (i go in with an offer of at least 20% below asking price first time round and tend to never make an offer over 10% below asking) with a view to sell by July/August. Mountain Ash seems quite saturated at the moment, in that there is a lot of supply so margins have been squeezed. At the moment I am renovating a property in Ynysybwl, which is going well. I buy 3 bed terraced because I find that demand for 2 bed terraces is much lower (reason being there is not much of a difference in price so families in particular tend to prefer the 3 beds).
  14. Hi Aidan, Having just written my business plan a few months ago, I can share some of my considerations on this topic. I went into business with a partner where I own the majority stake and he owns a minority. It was difficult planning for an exit because both of us were so excited to start the business, we didn't want to think about how it ends! 1. Death - the first option is obviously family. The best thing to do is make a Will and appoint your beneficiaries. They will simply inherit your share of the business and be entitled to your profits going forward. 2. Sell - if one of you decides to sell their stake of the company in the future, I would advise on certain conditions that I put in my shareholders agreement - a.) that should one of the shareholders decide to sell any or all of their stake, they must first offer it to the other shareholder, b.) That the directors have to approve each sale (I have 3 directors - me, the other shareholder and an independent acquaintance). 3. Close - You can decide to close down the business and each of you takes their share. If you're no longer co-investors, it may be more beneficial for you to operate as a sole-trader going forward. Have a look at the below, which has a pretty good guide: http://www.lawdonut.co.uk/business/business-ownership-and-management/shares-and-shareholders/issuing-and-transferring-private-company-shares-faqs
  15. Hi Abby, I've been investing in the Pontypridd/Mountain Ash area for the past 2 years. Generally, i tend to buy to sell, because of the high supply of terraced houses needing refurbishment. I've found this a successful strategy, especially as you can buy a decent 3-bed for about 60k. You're right in that HMOs are more popular in Pontypridd and especially the Treforest area. If you look around that train line (Pontypridd/Treforest/Taffs Well) you can find loads of good deals. I would personally stay north of the M4 because the margins are higher. St Fagans/Caerau might be popular but are also a lot pricier (you will struggle to find a 3/4 bed for less than 100k).