Jump to content

redbaron85914

New Member
  • Content Count

    13
  • Joined

  • Last visited

About redbaron85914

  • Rank
    Established member

Recent Profile Visitors

The recent visitors block is disabled and is not being shown to other users.

  1. Hey Ben, sounds like a tricky tenant! Revisit why you're thinking about doing this in the first place and put this specific case into context. Are you looking to buy so you can move away from your parents? Or is it something else? Sounds like your strategy is a tried and tested one, so for me it is a case of sticking with the strategy and finding the right property that fits with your strategy. If this current one is putting you off because of the tenant then there might be a 2nd or 3rd property out there that could fit the bill? Hope this one person doesn't put you off as the
  2. Hi Richard! Thanks for getting in touch on this. I'm interested to know how you deal with ad hoc maintenance issues that may occur outside of your quarterly trips to the UK. Do you use a virtual assistant for these? My 2 flats are in Edinburgh and I live in Manchester. Looking to expand but want to automate processes as much as I can and basically make my letting agent obsolete in the future! I'll certainly look into the software you use. Meantime, I'll also be looking into the possibility of creating an app that can demonstrably replace a letting agent and figure out if it's
  3. Hi folks, DISCLAIMER: I have done some initial searching on here and couldn't find a relevant thread, but that doesn't mean one doesn't exist...in which case apologies for the duplication. Does anyone use an app/Web-based software to manage their property/properties? If so, what do you use and can you manage pretty much everything through it, aside from physically turning up and conducting viewings/inspections/check-outs etc? I love my tech and I'd ideally love to manage my emerging property empire (!) myself online rather than continue to blindly pay my agent 12%+VAT each mo
  4. Hi Murray I'm relatively new on this site also, and live & work in Edinburgh I too have very little equity to be able to take out of my 2 flats so I feel your pain there. With any luck, prices in Edinburgh will continue to rise, and there will hopefully be a spillover into places like Dunfermline, Inverkeithing, Livingston and further south as people continue to get priced-out of the city centre. And the Queensferry crossing will hopefully help places in Fife too (once the teething problems have been sorted out after today's opening of course!). I'm off to my first meet-up t
  5. Totally endorse Richards advice here! Wading in with my thoughts too My toe-curlingly boring 'day-job' includes forecasting future returns (i.e. if we invest £100 today, what will we get in return in 1, 2, 10 years etc). As a result, I have to use more complex forecasting techniques, like NPV & Modified IRR mentioned in Richard's post. However for my teeny tiny property portfolio of 2 x mortgaged 2-bed flats, these techniques are not particularly relevant, so I'm using my net annual cashflow as a proportion of the money I originally invested (i.e. my deposits and purchasing fees
  6. Hi Sean, Thanks for getting in touch! Yeah Dunfermline seems a bit of a no brainer given how easy it is to get on the M8 to either Edinburgh or Glasgow, and I imagine Stirling isn't difficult to get to from there either. I too am looking to grow a wee network, and am looking forward to my first meet up in September. If you are able to attend it sounds like a good place to meet like-minded folk. All the best, Rob
  7. Hi Ferha Have a listen to Rob & Rob's podcast on Joint Ventures, if you haven't already done so. It may well turn out that you can start a company with your other half, AND do your first deal as a JV with your pal, without making your pal a director of your company. I also have a ten year plan that involves getting out of the rat race, and like you I'm also looking at getting friends and family involved as they've got more cash than me! And a joint venture seems sensible on the face of it. However there's definitely a few things to be aware of before jumping in though, which the
  8. Hi Andrew Hope you've got a tea/coffee and are sitting comfortably - I appear to have re-written war and peace... I'm currently thinking the same and also have 2 properties owned individually (one is jointly owned with my mum). I saw an accountant last week to discuss how best to structure myself going forward, as I want to build a portfolio. His advice was that a company/partnership would be beneficial so long as I plan on building a portfolio, but that it's unlikely to be helpful long-term if you're just sticking with the existing 2 properties. Below is taken from my notes from th
  9. Hi Kim Ahh I do love Portobello, especially down the Esplanade when the sun's out - can't beat Luca's ice cream! I originally looked at a couple of places on the High St and Bath St before I bought my place in Gorgie - I just felt that Gorgie was more ripe for redevelopment, and therefore more of a dead cert for capital growth. That was back in 2011, and there's not been too much movement since, however it seems to be starting to creep forward with a couple of new cafes, a new student accommodation development and a 24 hr gym opening up recently. I'm hoping it gets a bit of money from the
  10. Hi Clare, Thanks for getting in touch! Completely agree with your point about looking to outlying areas of Edinburgh. I'm also looking at places like Dalkeith on the south side what with the Borders railway, but looking further west is also on the radar too. Have you looked at places like Kirkcaldy and Dunfermline? Interest to know your thoughts on these areas if you have an opinion. Thanks also for your tips on property types and the benefits of saving all residual rental income. Lots and lots of things to think about in general, and every podcast I listen to adds a new dimens
  11. Hi all, I recognize I'm a bit late to the party in terms of this particular podcast - I've only recently stumbled upon thepropertyhub.net this past week! Great episode, and for me, nurturing a winning/positive mindset has got to be the absolute number 1 priority, closely followed by developing a strategy that works for me. I've done a lot of reading and listening in respect of positive mindsets (and there's gazillions of books out there to wade through), but I thought I'd share one with you all: "Think and Grow Rich" by Napoleon Hill. It has to be the most useful resou
  12. Hi Ollie Thanks for getting in touch! It's great to know there's someone in my neck of the woods who's doing what I want to do, so if you're happy to chat at a meetup I'd be delighted to see how you've done it and get some hints and tips. I'm signed up for the one in September so hopefully I'll catch you at that one (my birthday this Thursday and my wife has organised something fringe-related). Meantime... Thanks very much indeed for the link to the podcasts. I've not managed to get to that part of the website yet, so thanks for the head-start he
  13. Hi all, I bought a 2-bed flat in Edinburgh, lived in it for a few years then moved-in with the better half who I've now married; so we're living together at hers and I'm renting my place out. Since doing this I've become slightly obsessed with the idea and am looking to build more capital and thus buy more properties. The end goal is to quit my dull accounting job and renovate & let-out property full-time across the UK (and possibly further afield if it really goes well). What I'd love to know from anyone out there who has walked the walk, is how you bui
×
×
  • Create New...