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t barratt

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Everything posted by t barratt

  1. Hullo! I have been unable to listen to the podcast for sometime now as I keep on getting the following error "Unable to retrieve data file" when I try to play them. This has repeatedly and reliably been the case over a period of time and on multiple devices e.g. laptops, tablets, smartphones all of which I have previously been able to listen to the podcast on. Has anyone else had this problem? Anyone have a solution?! I'd normally put down to user error or out of date system files but I've tried my newest devices (which are incidentally android marshmallow and nougat) a
  2. FYI.. I have been conservative on the revaluation value as can't guarantee capital growth, however, would be confident at it being greater than 130k.
  3. I'm just getting into this property thing, having been an accidental landlord in London. We sold the house last year to release equity for various reasons and are looking at re-investing some in the Notts area. I am currently looking at a 2/3 bed townhouse in an area that I have long considered to be a growth area. It is currently going through a regeneration program (that links in with others such as 'the gateway to the City') and has seen investment from private p. development companies buying up plots of land for eco housing etc. The schools are improving, its located near the r
  4. Hi Richard Thank you this is very helpful, however, I am still in analysis paralysis as I can make this and potentially more on a S&S ISA... and that's not taking up my valuable time! As such I am very hesitant about taking the plunge In terms of costs I did have quite a few of those you have accounted for hidden away in my s/s but others not, so good to have those pointed out e.g. survey and gas certificate etc., costs. What are the 'other costs' (£3750) for though? I'm not planning on using a sourcing agent or buying through auction. Would this be the initial lett
  5. So would you consider a 12.2% ROI and 3.9% net yield at asking price, (potentially 14.2% ROI and 4.6% net yield cash offer at 10% BMV/Asking Price) a good investment? I'm currently looking at one such property in Notts and am wondering whether to take the plunge. I could get away with minimal to no work and let to LHA tenant. Council will pay the rent direct, no letting fees and low risk void. I would self manage. If I went for a private tenant I could get a bit more (£550pcm) Asking Price = 87,500k Rent £500-525 pcm (tenant pays one off top-up to rent in addition to LHA)
  6. I agree with Mr Moore and have recently asked the same question. I too am a newbie. I am currently looking in the Notts area and am finding it very difficult to find anything with decent net yields... if honest about the costs! Maybe I am being too conservative with my figures but most 2 bed places are coming out at around 3.3-4.5% net yield, for single lets. OK I am looking at LHA, which I appreciate will give me a lower yield but the figures don't massively increase if I look at average private rental. I have seen some where yield of 6-7% is promised (never higher) but they alway
  7. Hi Rob Currently looking into this myself and my accountant advised not to mix trade (flips) and investment (BTL) as HMRC don't like it, so probably best to have 2 Ltd companies, one for each. Just started on mortgages, which I feel the need for hand holding due to all the jargon and acronyms.. but there do seem to be quite a few out there for LTD companies (and LLPs, which my accountant also mentioned)...both for single lets and HMO depending on your model. They do appear to look at the directors earnings as a whole, so not specific to the new business. I am a director of another
  8. Bugger! Thought that would be the case...darn that pesky taxman! Thanks Mike
  9. Hullo! I think I know the answer to this but just wanted to double check as I can't find this specific example in the HMRC guide to stamp duty surcharge (although admittedly I may have missed it as I became glassy eyed half way through!). So I am planning to set up a SPV Ltd Company for my BTL portfolio. I currently don't have any BTL but I do jointly own a house, which is my main residence. My question is will my 1st BTL, purchased through a LTD Company be considered my 1st or 2nd home.. or in financial terms... will I have to pay 3% SDLT or 0% (assuming it falls under
  10. Hullo! I'm hoping there are some landlords out there with experience in leasing property through Housing Aid who can give me some advice? I would like to be both a socially conscious AND profitable landlord. Whilst I appreciate my profit margins will be a lot less, I strongly feel that anyone of us could easily fall on hard times and would like to help families who have. I have meet with my local Housing Aid department, who are very keen to get landlords on board. They have a massive demand for 2 bedroom homes to house families. There are many pros and I'm sure cons:
  11. Hi Taj I'd tread carefully, any sniff of knotweed and both mortgage and insurance companies tend to run a mile! We recently sold our property in London and the lazy surveyor noted 'possible knotweed' in his report and everything stopped dead. We knew there was no knotweed, the garden was merely overgrown due to the property having been vacant over the summer months (whilst it was re-furbished), but had to pay for a specialist company to come out and verify that there was none. Thankfully there wasn't.. but it cost us financially. I would check with mortgage and in
  12. Hi Everyone I'm currently researching social housing, for asylum seekers in particular. I have been put in touch with a company based in Leicester, called Live Management, who are apparently partnered with G4S on the COMPASS Contract. However, I can find very little information on this company... which concerns me. Also with it's association with G4S and all the surrounding bad press, I wondered if anyone had come across them and had any feedback or advice? Many Thanks in advance Ginger
  13. Hullo I am currently selling our old house, which we have a HMO license for and was hoping for some advice.... Firstly, Do I need to notify the council that we want to terminate it? Secondly I have just found out that the buyer is going to have to rent whilst they are out of the country. They initially said it was residential, although he clearly plans to flip once he's done it up. I wondered if I could transfer the HMO (there are 4 years left) and potentially get a bit of cash for it? Can't find anything on it so suspect not. We di
  14. Hi All Just to let you know that I have been in touch with admin and the property strategy content is back online http://thepropertyhub.net/strategy. It's a bit of a mess format-wise, but they will be correcting that over the next few days! Ginge
  15. Hi K So sorry, only just seen your response! Thank you so much... have decided to leave this one for the moment, however, it was a useful exercise! Ginge
  16. Hullo! Pls can you do an Ask R&R or podcast on research tools? As a newbie I seem to waste too much time trying to find decent calculators to help me with my property research, as they all want too much information! All I want is a rough calculation of: BTL Mortgage Rates/Interest payment BTL Stamp Duty Landlords Insurance (Buildings, contents, rent cover etc)* Legal Fees Broker Fees Etc They all expect you to provide full information and personal details, when I don't want to be bothered by some salesperson trying to quote or sell
  17. Hullo! Wondered if anyone could recommend a good decorator in the Nottingham/Rushcliffe area (who won't charge the West Bridgford premium!)... ideally with good plastering skills and/or contacts? Initially this will be for our own house, which desperately needs a lick of paint, but the plan is to add them to my property 'team' list if they are any good! In the set-up stage of my property journey and thought this would be a good way of testing some tradespeople out. Any recommendations (or don't touch with a barge pole) would be greatly received.
  18. I'm having the same problem....has anyone had an update on where the resources are?!
  19. Hullo! I'm new to this too, however, have just walked away from a Grade II property I was looking at as an ongoing FHL. This was in good nick and on the surface didn't need any work doing to it, however, I spent some time crunching the numbers and they basically didn't add up as a good investment. We would barely make enough to cover the costs. Remember that with Grade II not only are you having to potentially jump through hoops to comply with historical regulations, but also you're paying a premium on insurance, mortgage etc. Additionally with it being a very old property, the re
  20. Hullo! Massive thanks for all the feedback and apologies for the radar silence...been galavanting in the South of France. But back to reality as of tomorrow! Planning on going to the hub gathering in the evening, children and behaving permitting. So hopefully see some of you there.
  21. Got it! Thanks... worth a viewing then. The property comes furnished but we'd probably want to modernise it a bit when it needs replacing. There is an additional bedroom possibility but I suspect the listed nonsense would make it unnecessarily complicated. Darn history buffs .. Think I've worked the yield out.. I'd already done the A*B bit but called it something else (I think). Gross is approx 7.3% assuming the asking price (which we obviously would want to improve on!). Thanks for all you help Ginger
  22. Well spotted.. that would be my fat fingers/confused touch typing! 105 days does make it look better. Unfortunately the 167 days was for 2013... it has been on a downward slope since then (see the other worksheets)! Pls can you send me the Deal Critique link as it didn't come through... I'll take a look. Otherwise a massive thanks! Ginger
  23. Thank you, this is really useful. Currently crunching the numbers and not feeling quite so bullish. They have failed to meet the FHL condition of 150 days for the last 4 years (admittedly only just) with only approx 35-40% of the year booked out... not breaking even by your calculations! It has been a pretty manual process as I have only been able to get the basic booking schedule screen shots off the sellers and have had to work out average letting costs by looking at the property on Cottages4You. I have tried contacting Cottages4You for more detail and their costs but
  24. Thank you! I will certainly take you up on the offer One question straight away.... do you fully manage your properties yourself? I'm happy to do some of it but am not keen to be called up in the middle of the night or learn all the rules and regulations (straight away anyhow). Is it possible to get an agent to do this whilst I ensure the tenants are good and properties are being looked after, without an exorbitant fee? Ginge
  25. Hullo! My name is Thandi (otherwise known as Ginger). I'm new to this, haven't bought anywhere yet but am planning to as soon as our equity is released! We are selling our old house in London, which we have been letting out for approx 6-7 years. Hope to re-invest in several properties for a higher yield (and a bit of capital gain would be nice) in and around the Nottingham and Midlands area. Not sure Nottingham is the best place, what with the abundance of purpose built student properties, article 4 and newly introduced landlord tax but it is where I live and know. Thin
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