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david graham

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  1. I'm not specifically referring to Samuel or even to property specifically but just courses in general. I think courses (and other paid for material) in anything can provide value in 2 main ways: 1. Curation of information. Sure, there's a lot of information out there in how to do anything... You can Google or YouTube anything. But there is value in someone sitting down and curating that information and presenting it in a logical flow with an increasing level of complexity. Whether you want to invest in property or learn how to code you can go on YouTube but you are likely to be a bit scattergun in your approach (or at least I am). It doesn't have to cost a fortune, I think I paid £11.99 for the last course I bought on udemy. 2. Delivery. Some times the quality of material you get on YouTube for free is poor.
  2. I suggest you might want to provide some more info so readers can assess whether they are interested or not. For example What's your current status and what kind of partner are you looking for? Are you cash rich, time poor looking for somebody to give money to and they do the work, giving you a hassle free investment? Or vice versa, are you hoping for investment and you do the work? What kind of areas and types of property are you interested in? It might be worth actually identifying a property you want to join up with someone on, then try to find a partner when you have specifics?
  3. Hi folks, Common figures seem to be £2k up to £5k but it really depends on how much the sourcer does. Goliath Sourcing Academy cover this in a good podcast episode 27, you might be interested in checking it out. Hope this helps, David.
  4. Hi Janelle, You might be interested to check out www.property-connect.co.uk When it launches in December you will be able to search for all sourcers in your chosen areas. Regards, David.
  5. Hey Jakob, Good luck in your exciting new venture. You might be interested to check out www.property-connect.co.uk which will allow you to connect to a network of investors. It will allow you to search in your chosen area and search according to your chosen strategy / strategies (eg rent to rent or buy to let or flip etc). This will show investors who are looking for exactly that kind of deal so you can either contact them about sourcing to order or contact them once you have a deal. It's still in development but launches in December and will be a big help to you, especially when you are first starting out. You can pre-register now if you want to get some updates as the development accelerates towards launch. www.property-connect.co.uk
  6. £12.5k was refurb, stamp and fees. There would also have been a £17k deposit. So approx £3k per year out of £30k is 10% but that's before tax. With the stock market and a stocks and shares ISA the growth is tax free. Hence the debate, I think Dan is wondering why property and not stocks. Stocks also compound more readily. You are correct about the leverage. The question is how long will it likely take for house prices to go up by 10% versus the stock market which averages 8-10% per year. In my mind once you refinance the house and pull the money back out, that's when your return is more likely to be 25% which is an amazing return. Property rental income is likely to be predictable cashflow where the stock market is volatile. It is also possible to use other people's money in property via joint ventures. I think these are the real advantages of property over the stock market. The stock market is however excellent for long term wealth accumulation and can be completely effort free.
  7. If it's genuinely bmv then absolutely. The first valuation, when getting the mortgage will be based on what you paid for it. Later you can remortgage, just don't get it valued by the same person because convincing them it is now worth 20k more than the last time they saw it will be difficult. Get it valued by somebody new and make sure it's in tip top shape to maximise your chances of getting the value you want. I must ask though, if no work needs done, why is it going for 20% bmv? It must be a very motivated seller. Are you sure about your estimated £100k value? Regards, David. www.property-connect.co.uk
  8. No worries Dan. I wish you success. Probably not a topic for here but I'd enjoy a conversation with you about your stocks investments as I also invest in the markets. I'd enjoy a discussion about your chosen strategy, stocks Vs bonds, do you select your own stocks or employ an active manager or invest in passively managed index funds. Personally I'm the latter. As I say probably not relevant to this forum. Good luck, David www.property-connect.co.uk
  9. Hi Dan, The secret appears to be to find a really great deal which is either for sale below market value or to which you can add value. Because then you can buy at one price but remortgage on the actual value or new price. As you've paid a hefty sourcing fee, I'd hope you got a deal below market value. So for example, let's say although you paid £68k , maybe it's actually worth £80k. Therefore you can mortgage it based on the £80k value (75% mortgage would be £60k). So you can clear the original mortgage and still have some left over. That way you're getting some or all of your initial investment back immediately. Also remember property is not a get rich quick scheme. That £240 per month should be added to your normal savings rate to accelerate your next purchase. You do raise a fair point though that the stock market is an alternative investment mechanism which might return an average of 8-10% per year. If you're after something truly passive to build wealth then this is a good option. If you're seeking cashflow then buy to let is a good option. As always it comes down to your personal goals. Regards, David
  10. Hi folks, The website www.property-connect.co.uk will hopefully help you when it launches in December. It will not only provide a list of sourcers for your area but will also make it clear how each sourcer is compliant. There will be a 5 star feedback and review section so that people can leave appropriate feedback for sourcers they have used. Clearly it will take time to build up the feedback but it should be useful in helping select which sourcer to work with. That said, it is and always will be essential to do your own due diligence. I hope that is of some help.
  11. If you really want to scale up quicker then you should focus on finding the right deal which will allow you to "recycle" your initial investment. I explain below: This property is £67k meaning £16750 deposit plus £3k bathroom plus legal fees plus stamp duty etc. Say it costs you a total of £25k. It will make you about £5k before tax so let's say £3k after tax. It will take 8 years before it makes back your initial investment. Now consider if you found a BMV deal where a house was worth £67k but you managed to snap it up for £60k and you were able to do a full refurb (dirty smelly houses are best), maybe new kitchen and add a bedroom. Say refurb costs £10k and increases the value to £80k. In this case the original mortgage was for £45k. Once the work is complete and you remortgage (6 months after the original mortgage), you can mortgage it based on 75% of the new value so the new mortgage is 75% of 80k which is £60k. With that £60k you can clear the original £45k mortgage and still have £15k left to put towards your next property immediately. Clearly I was making numbers up there but you get the idea. One way of trying to find deals like this is to work with a specialist Deal Sourcer. Propertygeek has some interesting blog articles and podcast episodes. Regards, David www.property-connect.co.uk
  12. Hi, Just wondering if anyone is planning to attend the National Landlord Investment Show in Manchester in October? Has anyone been before and was it any good? Link https://www.landlordinvestmentshow.co.uk/manchester-8-october
  13. Hey Gilbert, www.property-connect.co.uk is a website which you might find useful. It is still in development but you can register now and when it is released it will allow you to enter your chosen areas and see a list of sourcers and associated contact details. There will also be a 5 star review & feedback system to help you select which agents to work with. Hope that is helpful. Regards, David
  14. Hey Will. Have you thought of tying up with a local Sourcer / deal packager who sources in Birmingham? They will know the area and should be able to find you the kind of deal you are after and will present you with the relevant figures. You will need to do your own due diligence though. Ifyou decide to agree on a deal, they will expect a fee which you'll need to factor in. But if they secure you a genuine good deal (below market value or an opportunity to add value) then it makes it easier to "recycle" your investment when you remortgage, as you'll remortgage on the new actual value and not the original purchase price. This allows you to leave only a minimal investment in the property.
  15. Hi Jase, Property Connect will go live in December. Thanks, David.