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DerekT

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  1. Like
    DerekT got a reaction from steveng in TPP119: A property viewing checklist you can use   
    It's not an official one, more of a checklist that I've used which has been compiled from various sites and includes some of the points above.
     
    Hope it helps.
     
     
    Checklist.pdf
  2. Like
    DerekT got a reaction from alexao in Can't find where I got this Property Hub Spreadsheet from, can anyone help?   
    This thread has a similar query and the link within to a spreadsheet I based on Rob's one if it helps?
  3. Like
    DerekT got a reaction from onkar in Property Hub Sourcing?   
    Hi @paulh94, I'm not aware that they're published anywhere. I believe you have to sign up and have a chat with their team first before being added to their distribution list for offers. And yes, the asking price is just the purchase price. I only took a screenshot of my tracker and that includes the other columns for costs like stamp duty, fees (sourcing, legal etc), ongoing costs (service charge, ground rent, mortgage, etc). 
    Thanks @onkar! I originally based it off Rob D's spreadsheet, but slowly modified it overtime. Been using it for about 3 years now to track certain areas and deals that come in from various sourcers. 
    If you want an extract of the above with the full details/columns, just drop me a message with your email.   
  4. Like
    DerekT got a reaction from stevie-s in Can't find where I got this Property Hub Spreadsheet from, can anyone help?   
    This thread has a similar query and the link within to a spreadsheet I based on Rob's one if it helps?
  5. Like
    DerekT reacted to simon allen in Chalres Louis Mortgages   
    Thanks @DerekT Very kind of you. Hi Alex. Happy to chat to you when needed.
  6. Like
    DerekT got a reaction from Nathan Cole in Chalres Louis Mortgages   
    Charles Louis is the mortgage provider / partner of Property Hub. Dave Cookson writes articles in each of the Property Hub magazine and has been on the podcast a few times. If you search the forum, there's quite a few posts about them.
    I've used @simon allen of Searchlight Finance a couple of times to source mortgages, and he posts quite regularly on the forum. Received good advice and speedy service from him, all done online these days. 
    There are other brokers on the site as well to choose from, but just offering my personal feedback. 
    Good luck! 
  7. Thanks
    DerekT got a reaction from dungeonmaster23698 in Area Research   
    Hi Jay
    In addition to home.co.uk, I also tend to look at;
    Streetcheck.co.uk - for demographics and more importantly, crime stats Postcodearea.co.uk - for population stats and demographics / social class split  Mouseprice and RightMove Sold Prices -  for historical prices, housing stock and price/earnings RightMove - to compare number advertised vs sold, and number advertised vs let agreed Zoopla - for average asking prices and rents, market activity Spareroom - to compare number of rooms wanted vs advertised Google Maps / Streetview - to view the area, local amenities, transport etc. and to view the streets if not local to the area - e.g. other houses in the area, types of cars parked on the street, ensuring you're not buying next to a sewage treatment works... And the local online newspapers - e.g. if investing in Crewe, they have the Crewe Chronicle - helps keep up with local news, happenings, or developments Hope that helps! 
    PS: I have a couple of rentals in Crewe so let me know if you need any assistance / feedback on the area. Good luck!
  8. Thanks
    DerekT got a reaction from DavidR in BTL Calculator Spreadsheet   
    Evening
    I have this one saved on Google Sheets that was based off of Rob's version, and then modified to include other details if it helps?
    Google Sheets - Property Calculator
  9. Thanks
    DerekT got a reaction from khuram in BTL Calculator Spreadsheet   
    Hi khuram
    Thanks for the feedback! 
    The spreadsheet assumes it's interest-only, with the annual mortgage interest is shown in column AG (so just need to divide by 12 to find the monthly).
    And yes, stress test is if the market moves and interest rates were increased. Not likely at the moment, but you can tweak it to test whether the investment is viable if rates were to increase to x%. For example, if a single let is still generating a positive cash flow based on a 7% stress test rate, then you know you'll be to cover the outgoings without having to dip into your reserves should rates get that high. 
    Any other queries, feel free to ask!
  10. Like
    DerekT got a reaction from benjiw in BTL Calculator Spreadsheet   
    Evening
    I have this one saved on Google Sheets that was based off of Rob's version, and then modified to include other details if it helps?
    Google Sheets - Property Calculator
  11. Like
    DerekT got a reaction from steveng in BTL Calculator Spreadsheet   
    Hi khuram
    Thanks for the feedback! 
    The spreadsheet assumes it's interest-only, with the annual mortgage interest is shown in column AG (so just need to divide by 12 to find the monthly).
    And yes, stress test is if the market moves and interest rates were increased. Not likely at the moment, but you can tweak it to test whether the investment is viable if rates were to increase to x%. For example, if a single let is still generating a positive cash flow based on a 7% stress test rate, then you know you'll be to cover the outgoings without having to dip into your reserves should rates get that high. 
    Any other queries, feel free to ask!
  12. Like
    DerekT got a reaction from jason_h in BTL Calculator Spreadsheet   
    Evening
    I have this one saved on Google Sheets that was based off of Rob's version, and then modified to include other details if it helps?
    Google Sheets - Property Calculator
  13. Like
    DerekT got a reaction from alex-bond in Research for Local Development/Employers   
    Hi Alex
    For employers, usually I type in the location + employers into Google and it tends to return the larger ones. There's also Glassdoor, where you can search by location, but it's a bit hit and miss as you have to filter out the non-relevant employers. 
    For developments, you can try the local papers as they tend to be all over it. For example, Liverpool has Liverpool Echo, Manchester has Manchester Evening News, Crewe has Crewe Chronicle. 
  14. Like
    DerekT got a reaction from juan in Tax Advice Required - Recommendations for Scotland Please?   
    Sure no probs.
     
    Link to Rita 4 Rent here
     
    And Link to Property Tribes here
     
    My contact there is Michael Wright. He appears in some of the tax advice YouTube clips on the Tribes website.
     
    Good luck and give us a shout if you have any other questions.
  15. Thanks
    DerekT got a reaction from paulrybak in Are these solicitor fees to high   
    Seems reasonably priced, but don't purely look on price. If the solicitor is slow, it may cost you more! So try to check how busy the solicitor is (i.e. are they going on holidays during the period of conveyancing). If they've got a relationship with the broker, then it may help progress the purchase as they'll be able to liaise with each other if any queries about the property / finance pop up.
  16. Haha
    DerekT got a reaction from simon allen in Property Hub Live...   
    I thought the Robs would've learnt and followed Mike's Contrepreneur Formula by marketing tickets at £97, reduced from £2,997 for some 11X success!? 
  17. Like
    DerekT got a reaction from alex-bond in Living of rent in a Limited company   
    Hi Alex,
    You still can, depending on how much you want to take out and what your other income sources are. Shareholders in the limited company can take a dividend of £2k tax-free each year (although this is after corporation tax, currently 19% is paid and there's sufficient funds in the company).
    If you take out more, you'll essentially be taxed twice - once at the corporation tax rate, and again as personal tax. Here's a graphic to summarise the different tax rates:

    So if you don't have any other sources of income, and don't need a lot to live off, then you could take dividends up to the basic rate level of £37.5k and only pay the 19% corporation tax and the 7.5% dividend tax on the amount above the personal allowance, currently £12.5k. 
    Best chat to an qualified tax adviser to work out what's best for your circumstances, objectives and financial position.
    Good luck!
    Note: If there are any tax advisers out there, and the above isn't correct, let me know and happy to amend/update!
  18. Thanks
    Guest
    DerekT got a reaction from Guest in Area Research   
    Hi Jay
    In addition to home.co.uk, I also tend to look at;
    Streetcheck.co.uk - for demographics and more importantly, crime stats Postcodearea.co.uk - for population stats and demographics / social class split  Mouseprice and RightMove Sold Prices -  for historical prices, housing stock and price/earnings RightMove - to compare number advertised vs sold, and number advertised vs let agreed Zoopla - for average asking prices and rents, market activity Spareroom - to compare number of rooms wanted vs advertised Google Maps / Streetview - to view the area, local amenities, transport etc. and to view the streets if not local to the area - e.g. other houses in the area, types of cars parked on the street, ensuring you're not buying next to a sewage treatment works... And the local online newspapers - e.g. if investing in Crewe, they have the Crewe Chronicle - helps keep up with local news, happenings, or developments Hope that helps! 
    PS: I have a couple of rentals in Crewe so let me know if you need any assistance / feedback on the area. Good luck!
  19. Like
    DerekT got a reaction from Alvin in HMO Deal Analyser Spreadsheet   
    Hi a1terrier
    Not sure if you follow Mike and Victoria over at Inside Property Investing, but they have a free HMO deal analyser available. You might need to register an email address to access it.
    https://www.insidepropertyinvesting.com/resources/
     
  20. Like
    DerekT got a reaction from alex-bond in Newbie Networking   
    Hi Alex
    I think just be open and upfront with the people you chat to and say you're new/fresh and looking to learn, then ask the other people their experience and if you can pick their brain for a few minutes. If they're helpful, then grab their details and see if you can organise something longer on a 1-2-1 basis like a coffee/Skype call. 
    You probably don't want to bombard every person with your list of questions straight away, build the rapport and interest first. Good luck!
  21. Like
    DerekT reacted to richard brown in London property: SAVE £50k in fees by selling the SPV LTD and create a Win-Win ?   
    OK, so before everyone gets too carried away...
    Buying a company rather than a single property involves more due diligence, risk and hence cost on the part of the buyer. For example, the buyer's legal adviser would need to satisfy themselves against known and also unknown or contingent liabilities, legal claims and so on. Legal fees are therefore going to be higher.
    Also, a buyer may not want to acquire another company as there are a bunch of operating costs linked directly to that, such as accounting, insurance, compliance fees (licenses, ICO, etc.).
    It also closes the market down to 'corporate investors' only.
    From a financing point of view, there could be a 'change of ownership and control clause' within the mortgage, which essentially would mean that the loan would need to be repaid, unless the new application was acceptable, which includes an assessment of the shareholders and directors. So, no absolutes in that sense either.
    It has some advantages, clearly, but don't overlook the downsides either.
    R
  22. Like
    DerekT reacted to bens1234 in Samuel Leeds training course on BBC Documentary   
    Ok I'm going to make myself very unpopular I think. :)
    In the interests of balance and the fact that I like to play devils advocate, I'll express an alternative viewpoint (Note that if everyone on this thread had been supportive of these courses then I'd have given an argument against them.).
    Firstly, I need to be careful given that someone lost their life, which is a horrible tragedy. My thoughts are with his family and friends.
    Note that I'm not talking about Samuel Leeds here, as I have never attended any of his courses, and I agree that some of the sales tactics on that video looked bad. I'm talking about courses in general, some of which I have attended.
    So that's the disclaimers done... getting to the point...
    For the courses I've attended I'd say that the techniques they teach are genuine and achievable, and there are many successful investors doing them. These include things such as HMOs, Purchase Lease Options, Rent to Rent, finding BMV properties, Sourcing and Packaging Deals, Joint Ventures, No/Little Money Left In Renovations and using other peoples money.
    Of course all this information is available from multiple difference sources, including free sources (e.g. the great "The Property Podcast", YouTube videos), low cost sources (e.g. Books\Audiobooks, including books from Rob D and Simon Z, etc) as well as more expensive options such as courses, coaching and mentorship. 
    Personally I've read a lot of books and watched many videos and webinars to a point that I feel relatively well educated about all of the different strategies mentioned above, however I recently did a (Free) one day course which I felt took my understanding of some of these areas to the next level. On this particular one day course there was very little attempt to upsell you to a paid course... there was a little, but I certainly wouldn't call it hard sell or anything like the things you see on Mike Winnets Contrapreneur video.
    What I have observed is that whilst the strategies do work, you have to be the right type of person. You have to have a certain attitude, mindset and personality. When I first went into property investment I didn't realise that people skills would be so important... which is actually one of my biggest weaknesses. Many of the strategies require you to build rapport with the other parties, which I find difficult.
    So can the courses be a good investment. In my opinion yes they can, but not for everyone. Some people will make a lot of money as a direct result of having done the courses, but other (Probably many more) won't because, either:
    With courses, just like with books, most people read/attend them and then take no action. You can't blame the book/course for that. They expect instant results from little effort. The strategies work but no-one said they would be easy (At least to begin with). They don't have the right personality. For example, you could teach me to be a photocopier salesman, but I'd be terrible at it... that doesn't mean that the sales techniques are wrong, it just means that I don't have the right personality/people skills for the job. Many people go on the courses with very little education on the subject. You can't go from zero knowledge to the required level of knowledge in one course... I spent 2 years immersed in education BEFORE ever attending a course. On that last point, I may be wrong but one man in the video (Andrew W) seems to fall into this category. He seemed to know nothing about property investing at all and thought that he could do a course from cold and come out an expert... it just doesn't work like that. I think more should be done to ensure that only people that have a certain baseline knowledge can enrol on one of these courses. 
    So in summary, I don't think courses, even expensive ones, are necessarily a rip off. I know of several very well known property investment companies that use hard sell techniques to sell their courses, which is wrong, but equally I know of at least one very well known company that doesn't (They do use some basic techniques such as scarcity, but to a relatively minor level.).
    Please don't flame me too much, it hurts. ;)
    Ben
  23. Like
    DerekT got a reaction from tom-rigg in Samuel Leeds training course on BBC Documentary   
    Condolences to Danny's family and friends. 
    I've been following this whole SL saga for a while now, especially after it all kicked off on Property Tribes last year when a lot of the Academy members voiced their concerns. Yes, people have a choice to sign up, but those that are more vulnerable are the ones impacted most.
    He's great at marketing and knowing his target audience, and cashes in as much as possible. From initial feedback, the Academy was working and worth the fee. However, as it grew bigger, it appears his desire to expand quickly has caused the service provided to drop. Over promise, under deliver. Because he uploads so many YouTube videos now, you can pretty much learn it for free rather than attending the Crash Course and other upsold courses. 
    I doubt it will change him or his business practices very much, most likely the news story will be forgotten about (although Google SEO may keep it quite high up on the search results). Although his YouTube response video says he's transparent, pretty much all 'negative' comments on YouTube and his Facebook group are removed by admin. I think at one stage there were over 400 comments, majority were negative. These were all removed. TrustPilot also remove negative reviews of his Crash Course. 
    I believe there's a petition going around to sign to make wealth creation seminars regulated, not sure how that'll work though. 
    Hopefully the documentary and subsequent press articles will shine a light over any dodgy salespeople. 
  24. Like
    DerekT got a reaction from imran-ezi in Samuel Leeds training course on BBC Documentary   
    Condolences to Danny's family and friends. 
    I've been following this whole SL saga for a while now, especially after it all kicked off on Property Tribes last year when a lot of the Academy members voiced their concerns. Yes, people have a choice to sign up, but those that are more vulnerable are the ones impacted most.
    He's great at marketing and knowing his target audience, and cashes in as much as possible. From initial feedback, the Academy was working and worth the fee. However, as it grew bigger, it appears his desire to expand quickly has caused the service provided to drop. Over promise, under deliver. Because he uploads so many YouTube videos now, you can pretty much learn it for free rather than attending the Crash Course and other upsold courses. 
    I doubt it will change him or his business practices very much, most likely the news story will be forgotten about (although Google SEO may keep it quite high up on the search results). Although his YouTube response video says he's transparent, pretty much all 'negative' comments on YouTube and his Facebook group are removed by admin. I think at one stage there were over 400 comments, majority were negative. These were all removed. TrustPilot also remove negative reviews of his Crash Course. 
    I believe there's a petition going around to sign to make wealth creation seminars regulated, not sure how that'll work though. 
    Hopefully the documentary and subsequent press articles will shine a light over any dodgy salespeople. 
  25. Like
    DerekT got a reaction from snookjas in Samuel Leeds training course on BBC Documentary   
    Condolences to Danny's family and friends. 
    I've been following this whole SL saga for a while now, especially after it all kicked off on Property Tribes last year when a lot of the Academy members voiced their concerns. Yes, people have a choice to sign up, but those that are more vulnerable are the ones impacted most.
    He's great at marketing and knowing his target audience, and cashes in as much as possible. From initial feedback, the Academy was working and worth the fee. However, as it grew bigger, it appears his desire to expand quickly has caused the service provided to drop. Over promise, under deliver. Because he uploads so many YouTube videos now, you can pretty much learn it for free rather than attending the Crash Course and other upsold courses. 
    I doubt it will change him or his business practices very much, most likely the news story will be forgotten about (although Google SEO may keep it quite high up on the search results). Although his YouTube response video says he's transparent, pretty much all 'negative' comments on YouTube and his Facebook group are removed by admin. I think at one stage there were over 400 comments, majority were negative. These were all removed. TrustPilot also remove negative reviews of his Crash Course. 
    I believe there's a petition going around to sign to make wealth creation seminars regulated, not sure how that'll work though. 
    Hopefully the documentary and subsequent press articles will shine a light over any dodgy salespeople. 
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