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Ben K Property

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About Ben K Property

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  1. Hi Jamal, great, I did my NEC4 at the start of the year. Its quite a straightforward transition if you are already NEC3 Accredited. Drop me an email at ben@delburygroup.co.uk I would be happy to meet and discuss (location dependent of course). The surveying background will obviously come in handy, its those sorts of skills which can save you a bunch of time and cost. Hi Satnam, thanks for connecting on LinkedIn, looking forward to our catch up!
  2. Hi Russ, Great article. Here are some tips from me: Regarding skips, think about getting a tarpaulin which you can cover the skip with and also lock it down. You dont want to return the next day and find someone else has filled your skip. OR fill it the same day. Organising the works. Try to build a relationship with trusted trades, get them to look around the property as soon as you get the keys. Agree a scope of works which are required, this then allows you to build a specification which you can use to obtain prices. Getting them in early also allows you to ask the trade wh
  3. Hi Kasia, To be honest I could only advise on the larger scale companies but they may also survey residential property. One company I have previously used is Lucion (https://www.lucionservices.com/). They were pretty good but like I say I have only used them for corporate surveys. Hope that helps, sounds like you are taking all the right steps! I live in Telford but work for a company in Birmingham, if you ever want to grab a coffee I would be more than happy to offer any other advice on refurbs and project management etc.
  4. Hi Kasia, Not sure about the building survey. Ive bought 3 houses and never had one done! Even if they did identify it you would still need to get it removed so i would say you should either get the survey done anyway so that the whole house is covered or use the money for the survey to have it removed. Otherwise you will be paying for a survey to tell you what you already know followed by having to pay for removal. I dont expect that the survey would give a cost but i would estimate about £500. The survey, from my experience large projects would be about £250. These are j
  5. Hi Ed, I would be happy to help you out if needed. I have properties myself and did a refurbishment with my wife, fully hands on. I work in construction as a project manager so i have experience of executing these types of jobs. Plus i have other professionals on tap, not necessarily in the Norwich area but they can provide guidance, especially with refurbs (they are builders/ property managers). Let me know if thats of any interest! Stevie - not sure if you are also looking but happy to assist if i can. Thanks, Ben
  6. Hi Kasia, I'm surprised no one has replied to this. The first thing is to identify if you have asbestos. A survey is obviously the best starting point but I have never heard anyone do it on a residential property. I work in project management so have done quite a few asbestos surveys. Asbestos is only an issue if it is disturbed and released into the air. Therefore if you aren't doing any major works just painting, decorating, replacing kitchen, bathroom etc. it shouldn't be an issue. You may be able to speak with the local council and see if they offer any services. If the property
  7. Hi James, You seem like you have a good balance of risk, which is a positive. Personally what me and my wife have done is calculate the amount of money we would need for 6 months if the following events happened: We both lost our jobs (calculate monthly costs just to survive) All of our properties were empty (no tenants for income) We still had to pay the current BTL mortgages Plus all other costs to keep you in the black. We took this figure and invested it into premium bonds. Yes its low yielding but your money is safe and you have the chance of winning prize
  8. Hi Hubbers, Out of interest I am just wondering if anyone would use a project manager to advice and assist you in your property investment. For things such as refurbishments and flips. I have offered up free advice and support on here before and I am very keen to help others, however I have had little response. Is this because people feel they can do all of that work themselves, it would be too costly etc?? It would be interesting to know your thoughts. Just for full disclosure I am a project manager in the day job which is why I am so interested. I want to offer people fre
  9. Hi All, I have introduced myself on here but that was a while back. Since then I have bought a couple of properties and undertook a completed refurb on one of them (me and my wife getting stuck in). Both currently rented. We have plans for developments in the future, so in the meantime I am looking to increase my network and offer advice and guidance to anyone who needs some. You can find a link to my LinkedIn profile here so that you can get an understanding of what I do on a professional level, I don't currently advertise my investment experience on Linked
  10. I am a civil engineer and project manager in the construction industry so i have the privilege of doing a job which significantly helps me with development and refurbishments etc. No job too big, it can all be fixed. If anyone wants engineering advice just let me know.
  11. Hi nimmyj, If you look on the HMRC website (https://www.gov.uk/guidance/income-tax-when-you-rent-out-a-property-working-out-your-rental-income) you should get a good explanation, however this is how I see it: Your costs are split into Capital costs and Revenue costs: Capital costs - Cost of buying the property, legal fees, adding an extensions or adding equipment or furnishings which weren't in the property originally. Revenue costs - Estate agent fees, estate agent management fees, insurance, any bills you pay (council tax, gas, electricity etc
  12. Hi Sid, I am going to go straight in here as i would question whether buying in a Ltd company was the right choice for you. I know there are a lot of factors to consider but if you are looking to replace your income them i would look at it from this angle: The tax changes effect everyone who pay income tax (which you will do if you have a rental income), however due to a 20% rebate it actually only effects those on the higher tax band (40% & up). This means that if you are planning to give up the day job your entire income will be from property which means that you
  13. Hi barnowl, To be honest this will come down to what you prefer as an individual. There are so many pro's and con's for either option that it all comes down to what suits you. What i always revert back to is creating a spreadsheet with both option and looking at comparables, for example CGT, income tax, corporation tax, stamp duty etc... The impact on not being able to offset the mortgage interest as an individual is an interesting one as it only really matters if you are paying the higher rate. Personally i have considered having a few in my own
  14. Dmac - I think this is the trick that some investors miss when they rent their own place so that they can use all of their funds to make investments. This is an OK strategy but it fails to take into account the additional leverage you can use. If you also bought your first place in a condition that needed renovation it could mean that you get a cheaper property, increase its value, re-mortgage and get all of your investment back out due to a 90% LTV instead of only 75%. So never overlook starting off with your own property as it can actually be a better investment than a BTL. My ad
  15. Hi Fox, Episodes are available on the 'Podcast' page, i have included the links below. Part 1 - http://thepropertyhub.net/tpp097-become-property-investor-part-one/ Part 2 - http://thepropertyhub.net/tpp098-become-property-investor-part-2/ Part 3 - http://thepropertyhub.net/tpp099-become-property-investor-part-3/ Hopefully thats what you are looking for?? Ben
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