Jump to content

Darren McNeill

New Member
  • Posts

    1,526
  • Joined

  • Last visited

Contact Methods

  • 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

Recent Profile Visitors

7,011 profile views

Darren McNeill's Achievements

Obsessed member!

Obsessed member! (5/5)

289

Reputation

  1. 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
  2. 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
  3. 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
  4. 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
  5. Yeah, liked the video option. Just watched it through now. Darren www.fmp-investments.com Whatsapp Direct on: 07908403515 01706 507202
  6. I use both. Prefer Starling. Darren www.fmp-investments.com Whatsapp Direct on: 07908403515 01706 507202
  7. 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
  8. 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
  9. 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
  10. Top tip here is to get legal protection cover with your buildings insurance. This then covers the legal cost to get these muppets out. Next BEST tip is to use an expert. Ive tried it myself, not worth the hassle as if you get it wrong the smug tenants get to wave their finger at you for a few more months. We manage over 160 houses and use The Landlord Group (just google). The founder is one of those guys who is on those eviction TV programs. We found the pricing to be good for what they do and have always found they communicate with us and our landlords well, which I find important. I think we might have used them on about 10 evictions now. Some end up leaving as soon as they get a solicitors letter, others unfortunately are still there when the bailiff's eventually turn up. Its a crap process and its gutting, but its just one of those risks that we have to take as LL's. I am owed over 6k by two tenants, but reality is that the mortgage payments are really 1.5k, so sometimes perspective is needed. And you're right, you will never get the money back. Doesn't matter how many CCJ's etc, tenants just get away with murder. 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
  11. I would be out there buying property. Your losing a fortune in inflation alone right now. I would personally be looking at units that can be purchased for £85k that will return 550-650PCM (which is quite easy to do). I would also be looking at only using a 25% deposit rather than tying up so much cash at the start. If you did the above you would easily be clearing 300-350 per unit after management costs, mortgage costs etc. The benefit of smaller mortgages is that they are smaller payments. Most of my mortgages are between 120-160 per month. I have had non paying tenants and the reality is that you can easily clear the mortgage payment. What people get mixed up is when they say its costing them £600 per month (the actual rent being charged). Its not. Yes you are losing the "profit" but reality is that its just the mortgage payment you are losing. Just get a 2 or a 5 year fixed mortgage and then forget about it. I currently have 6 mortgages on 5 year payments and have nothing to think about or worry about. I also agree, I personally cannot see a market crash. I can see a potential cooling of the market with the negativity on the news at the minute about living standards etc but that is usually a good time to buy anyway. Nope! Worst case you sell the property. Thats the way I look at it. Investing in BTL is not rocket science, despite how everyone wants to make it look like it. You also need to remember that when you buy a BTL, its only ACTUALLY costing you stamp duty and fees. You still have 25% in the deposit, so the reality is that buying an 85k house for example is ACTUALLY costing you say 6k in fees and stamp. £21,250 is still there, its just that the bank is holding it for you. 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
  12. My Strategy... Just carry on as normal. I never get overly concerned by a few percentage points on my mortgage. The reality is its only a few ££ each month. It may go higher, it may go lower, but that's what they are and I personally cant let that stop me from buying. I really try to look at property as simply as I can and not other think things. I was buying when Covid started and people were cancelling sales because they were scared the market would fall. It did the opposite. I might be a bit too casual in my buying process than most people though, lol 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
  13. The absolute first thing to do is to speak with a broker who specialises with ex-pats. There is ALWAYS a solution. Reality is you will probably get initially stung with APR or setup fees etc because of your personal situation, but they key is getting on the ladder and getting that first one secured. Once you have one or two, then more lenders open up to you. If you need to speak to someone then feel free to Whatsapp me on the below number and I can send you my brokers details. He knows someone who has done quite a few mortgages for my clients in similar situations to yourself. The biggest thing you can do now is to start making the positive steps of just looking into it, and don't gibe up if you get a few "no's" to start with. And 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
  14. Hi Ken, Have you looked more into your investment areas since your last post a month ago? Vineet mentioning up North is a good call. Absolutely tonnes of opportunity that huge numbers of investors are missing out on. Its so easy for people to be drawn to the big cities that everyone talks about on podcasts and YouTube, but there are so many areas that are commutable that people don't know about. I now have 15 personal rental units and we have sourced, renovated and managed another 160+ for our clients. We have recently had some amazing capital growth as we have felt the effect of the Manchester bubble. You can pick up a really nice property for 85k that will return 550-650 all day long. If you want to have a chat then my WhatsApp number is on my signature below. I know how daunting it can be thinking about investing somewhere that isn't local. And 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
×
×
  • Create New...