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Darren McNeill

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  • Posts

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  • Website URL
    www.fmp-investments.com

Profile Information

  • Location
    North West
  • Areas I invest in
    North West
  • About me
    Offering hands free BTL solutions. We can source, renovate and manage your next BTL purchase.
  • Property investment interests
    BTS, BTL, Lettings Agency Management, Property Sourcing
  • My skills
    Remaining positive
  • My goals
    To enjoy my job

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  1. 31.10.2022 Look who's looking at you! Darren www.fmp-investments.com Whatsapp Direct on: 07908403515 01706 507202
  2. The return on the amount of money being spent would make my bum twitch tbh. You could quite easily pick up 3-4 lower value properties that would return £650PCM before mortgage and insurance costs. I totally understand why people buy higher priced properties further south for capital growth, but for me personally that sort of return for the amount being spent seems crazy. Just having a tenant fail to pay for a couple of months would make me nervous with such a high mortgage needed. I personally think in 5 years time everything will have settled and rates will be back to being lower. I think they might get daft in the 12 months or so, but I am still buying and fixing for 5 years. I will be making a little less each month because of the current rates but in the long run the property value will have increased, and ultimately I am in this for the long term. I don't think we are at the height of the market. It may cool, but definitely not the height. Your additional comments with your current return would make me slightly nervous though. As previously said, I would personally spend the money on houses at 80-90k that will return me £650PCM. 3 of those are £1950 before mortgage costs and you could probably have some change left over for an emergency fund, and also sleep much better at night! Darren www.fmp-investments.com Whatsapp Direct on: 07908403515 01706 507202
  3. Just do your usual numbers. Work out your total cost and then the GDV. Divide the GDV to get 1/4 that will be left in as the mortgage deposit and then compare the 75% return to your total amount being spent and see if its good value. Factor is that lenders will likely want a new build insurance cert which arent cheap. Also worth just chatting with a mortgage broker and asking them if there are any lender restrictions. Hope that helps Darren www.fmp-investments.com Whatsapp Direct on: 07908403515 01706 507202
  4. Keep it simple and straight forward. Too many people try to over-complicate everything with property. Its not a fast thing, so don't believe the hype people give about being financially free in the next 10 minutes. Slow & steady wins the race. Darren www.fmp-investments.com Whatsapp Direct on: 07908403515 01706 507202
  5. Top tip - Don't overthink it! Treat your first house as taking your first steps. Its a great learning process getting that first one and will give you so much confidence moving forward. Darren www.fmp-investments.com Whatsapp Direct on: 07908403515 01706 507202
  6. The biggest challenge with distance investing is finding people you can TRUST. You wont be in a position to drive up and do things, so you need to get someone on the ground who can basically do everything for you. I have had a few clients go off and try to do things away from their home using trades local to their property etc and they have found it hard work. If you can find someone who can do all 3 elements (sourcing/renovation/management) then this will make the whole process easier. Darren www.fmp-investments.com Whatsapp Direct on: 07908403515 01706 507202
  7. I am buying something similar. 3 flats in a large terraced property that have never had planning permission. They have however been like this for about 15 years, all have their own address and council tax band, all have their own utilities etc. Once I complete I am going to contact the council and have a chat with them on the phone about retrospective planning. See what they say. If for some reason that isn't allowed then I will apply for the usual planning permission. If that fails then the property will go back into a single dwelling and I will flip it and can make some profit on it regardless. Its good to have an idea of an exit plan just in case, but your first port of call is the council planning department and explain the situation. No point in guessing. Darren www.fmp-investments.com Whatsapp Direct on: 07908403515 01706 507202
  8. I thought that I would check how many client offers we have recently had accepted, with it being a total of 12 since 18.06.2022. We have had 5 offers accepted this week alone with 2 more offers with estate agents at the moment waiting to be accepted. We have now found that the level of stock has increased and that it is mainly home buyers that are slowing down their purchases. We have recently also had a few offers accepted UNDER the asking price, which as a lot of you know this has been almost impossible over the last few months. Personally it feels like the right time to buy whilst people are feeling negative. the market has been hard to find stock for the last 6 months and now there are a decent amount of units available with some fantastic opportunities. Darren www.fmp-investments.com Whatsapp Direct on: 07908403515 01706 507202
  9. Wickes. Have used them in every renovation I have done. Simple, cheap, easy to get hold of. TradePro 10% reduction and as someone has mentioned every-so-often they are reduced so if you get the timing right you can get them cheaper. I always use the white handless ones, whether its a 60k rental or 200k flip. Darren www.fmp-investments.com Whatsapp Direct on: 07908403515 01706 507202
  10. Yeah, liked the video option. Just watched it through now. Darren www.fmp-investments.com Whatsapp Direct on: 07908403515 01706 507202
  11. I use both. Prefer Starling. Darren www.fmp-investments.com Whatsapp Direct on: 07908403515 01706 507202
  12. Thought I would see how investors on here are currently looking at the market? I posted a poll on one of the large Facebook groups asking the below question: There seems to be a lot of nervous people in the market place, which may be one reason why we have managed to have 12 offers accepted for clients in the last 3 weeks. I am personally still looking to buy as well. I continued during covid and all I can personally see at the minute are opportunities as there is a lot less demand on the actual purchase side. We have now found that the level of stock has increased and have recently also had a few offers accepted UNDER the asking price, which as a lot of you know this has been almost impossible over the last few months. Personally it feels like the right time to buy whilst people are feeling negative. the market has been hard to find stock for the last 6 months and now there are a decent amount of units available with some fantastic opportunities. I always purchase thinking long-term, so if the numbers stack right now, then its going on a 5 year fixed rate and will allow any minor market blip to pass. What are people on here thinking of doing over the next few months (as your savings fall in value due to inflation?) Darren www.fmp-investments.com Whatsapp Direct on: 07908403515 01706 507202
  13. I am now on YouTube!!! You can see our renovations in more detail now - Hope you enjoy! Watch my renovations on YouTube www.fmp-investments.com Whatsapp Direct on: 07908403515 01706 507202
  14. You cannot charge for this. I own a lettings agency and unfortunately unless we can come to a compromise with the tenant is pretty much tough luck. Just put a dispute in with the company holding your deposit. It will drag out for a good couple of months as they are really slow at dealing with claims but you will eventually get it back. If your bored and want to see how I started with not a lot then I have journalled everything that I have done in the last 5 years on the Property Hub Forum: https://propertyhub.net/forum/topic/5604-i-did-it-financially-retired-in-5-years-starting-with-just-£20k-in-the-bank-in-2017-it-can-be-done/ Darren www.fmp-investments.com Whatsapp Direct on: 07908403515 01706 507202
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