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adrian kiddy

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About adrian kiddy

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    Established member

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  • About me
    In my fifties, downshifted a few years ago and became a decorator. Have worked for letting agencies but do mainly private work for sensible people. Have good diy skills and have fitted new kitchens and bathrooms to BTL flats before. I'm interested in buy to let and property flipping.
  • Property investment interests
    Buy to let. Flipping.
  • My skills
    Good diy skills - carpentry, plumbing, decorating.
  • My goals
    Long term, low hassle investment returns.
  1. Morning Jack I will have a try, then others can follow ! Much depends upon your academic ability, but if you are more vocational/practical person, I would get into any skilled trade that gets you directly involved in property (hands on). Heating engineer, carpenter, electrician, bricklayer, plasterer. Each day at work you will build more and more familiarity with all property types, their strengths and weaknesses. If you get to buying a property in the future you can draw on these skills to both select the property and renovate it. Meantime, I wo
  2. Thank you Tim, you make some very good points there. I have pretty much followed that path. Used a qualified reputable letting company, Advertised at £525 (it is a small studio) and asked for 1.5 times monthly rent as a deposit. They found a very smart female tenant who viewed the property with her parents. The parents were so keen for her to secure the property they offered both a larger deposit and a guarantor for the rent (without any prompting). The letting agency did the initial viewing then I met them all the following day. Reference checks are being u
  3. Thanks Mark I am using a professional agency to help with interviews and referencing. I agree, too higher deposit may reduce interest. Not a good idea !
  4. Thanks Michael I'm sure you are right there, it is just a case of getting decent folk and building trust. regards adrian
  5. What is a typical deposit amount to request from a tenant ? Any rules on this ? What do others do ? The letting agency suggested 1.5 months rental equivalent. For a flat renting out at £525 per calendar month, that's pathetically small. Hardly covers the flooring ? Feedback would be appreciated. thanks. Adrian
  6. Hi Ali I don't know the direct answer to your question about equity release. However a few things spring to mind: You want to get on the property ladder ASAP in some shape or form, before prices rise further. Your mum is willing and able to move forward with a solution. And before her home may possibly be considered to cover care home costs (if it comes to that). If I were you, I would have an informal chat with your local building society and ask about your options. Opportunities often have an expiry date. Get on with it ! good luck, a
  7. Hi Howard i am pleased British Gas provided a solution for you. However, there have been several reports in the media based on consumers complaints, that British Gas engineers frequently pressurise homeowners into renewing boilers when they are not really required. They advise it is beyond repair, or parts are not available. Furthermore, it was claimed that the British Gas sales department actually run training courses for engineers in order to promote such activity. Sorry to be the bearer of such negative news ! However, whether true or not, this illustrates t
  8. Thanks Paul, comment appreciated. I realised afterwards that renewing the unit in the future will be far less costly than the original installation with its " giant" cable running from the RCD board. Best regards adrian
  9. New to letting and wondered if there are any downsides to electric showers ? We recently fitted a Triton 10.5 kW shower in the bathroom of out BTL flat. But wonder how long it will last (we live in a hard water area) and whether there are any worthwhile devices to protect it from scaling up ? What are other people's experiences ? The unit has a two year manufacturers gaurantee. It is a 1980's purpose built flat on the ground floor, it's immersion water heater tank is in the loft above the first floor flats. Access to the loft is very poor. The previous
  10. Hi Jamie bit late replying. I have stripped down and removed these units in the past. Not too difficult - some are full of concrete type blocks. Replacements may seem expensive but compared to replacing with a wet central heating system which needs servicing each year plus a new boiler every 12-14 years, replacements may well be viable. once installed they really are little hassle. However, some tenants avoid them like the plague because of perception about high bills. regards adrian
  11. We should have known better ! Caught out over the Christmas holiday with broken Combi boiler (over 10 years old) and beyond economical repair at BTL flat. Unfortunately we are on holiday abroad so communication with "trusted" heating engineer quite poor. He quotes £2500 inclusive for replacement boiler - a Vailant with 7 year gaurantee. We assume this is competitive and to avoid prolonged distress to cold/unwashed tenant give him the OK. Keeping long story short - the job takes one working day to complete. The boiler, magnetic filter etc cost £1000 including vat.
  12. That's a very interesting question and I hope you get some feedback from the professionals. On a similar note, a friend of mine with a BTL (who also happens to do, property maintenance for a living) was told by his accountant he could invoice himself for any work he does to the property. Such invoices can be treated as allowable expenses. Anyone else heard of that ?
  13. I supply vertical blinds. The dust won't settle on them, so they don't get spoilt by heavy handed people cleaning them. I have some that have done 7 years and still good. if you order them online and fit them yourself (v easy) they are at least half the price of professional fitter/suppliers.
  14. Hi Mogsie I agree with your advice about avoiding cgt by using it as your main residence. Have you any idea how frequently you can do this to "stay under the radar" ? Maybe once every two years ? I assume it is the role of the conveyancing solicitor to call time on this. best regards adrian
  15. Hi Mrs A If you have your own cash then that is maybe the cheapest and most flexible finance option. If you get a BTL mortgage remember that the tax allowances on mortgage interest are going to be cut very soon. However, if you are likely to change your mind and end up letting the property because of poor market conditions etc then maybe BTL is a good option because it's in a recognisable package where the finance cost can easily be identified (as a cost to you) to claim as an allowable expense. Another consideration is that you will incur arrangement fees for a BTL mortg
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