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MarkCottingham

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  1. I have a copy, PM me your email and ill send it over. I cant attach a excel file on here. Mark
  2. Hi all, I have also just come across this the hard way while I'm going through a purchase of a 1 bed flat in Liverpool. Goslingl12, what was the outcome for you in the end, did you exchange and complete?
  3. Heres one that I made up for my flips. Few bits may need adapting to suit your needs but all the calcs are there for what I use. Theres a separate tab for estimated costs for when you need to throw the numbers about when looking at deals. Any queries feel free to ask Property Flip Outgoings & Profits Spreadsheet Template.xlsx
  4. hmm some very good points there, back to the drawing board then maybe!
  5. I definitely see the attraction to terraced houses just out of the city. I may take a look into some areas... Are there any areas I should stay away from? I'm planning to visit Liverpool again this Saturday so might take a look around the outskirts.
  6. I was thinking going for 2 year fixed at first, to see if there could be any money to pull out after a bit of capital growth. But I would be relying on rent increases to make the remortgage viable if stress tests are tight at this stage?
  7. Hi Matt, thanks for your input. My main objective is capital growth. I won't be taking any income, just let it build up over time to keep investing for a retirement. I guess I'm just worried if I was unlucky enough to fix a mortgage at a time when interest rates are fairly high then could be tight at the end of year accountant costs etc. But if this is the normal situation then that settles my mind more.
  8. Hi all, As a newbie investor I've decided to join the band wagon and invest in the north west. Today I have spent a day in Liverpool city centre viewing a few 1 bed flats and walking the streets to get a feel for the place. Over the last few weeks I have done alot of rightmove trawling, phone calls to agents and spreadsheet number crunching. However, I am really struggling to make ends meet and find apartments that achieve a steady monthly cashflow, yeilds and ROI! I'm looking at 1 bed flats (not studios), in city centre areas like baltic triangle, ropewalks, business district. Anything up to £120k, usual 75% LTV via SPV with the main intention of capital growth but still need a reliable cash flow to cover costs. I seem to be getting gross yeilds of between 6-7% and struggling to make over £80 per month after all costs deducted when stressed at 5.5% (haven't included voids periods in yet though) seems to be the high service and ground rent charges that are killing it.... am I missing something or is this the norm? I'm considering changing my plan and heading out of the city centre for terraced houses to ditch the service/ground rent fees. Hopefully theres some wise people out there that can help steer me in the right direction Many thanks Mark
  9. I do agree with all those comments. Certainly something to seriously think about. Thank you
  10. Thanks Janeen, have you witnessed problems before on borrowing on a high level flat?
  11. Hi all, I've been listening and researching for a couple of years on and off, I have now decided to start my investment journey! My time is quite limited for research so I stumbled across an investment company and thought I would give them a shot to see what they can offer. So far I am quite impressed, not forcing a sale and generally being very helpful. They seem to know what they are doing and everything makes sense going by my limited knowledge. My main aim is capital gains over a long period with multiple investments for a retirement fund, but of course the rental profits need to be afloat too! Ill get to the chase and below is the recommendation they have come up with. Off plan 1 bed 9th floor apartment 399sq ft in Liverpool L3 Just outside the business district and walking distance to city centre. Within development areas too. Developer is Vinco Due to complete Q2 2020, ground works have just began. Long stop date June 2021 Price: £132,525 with normal 75% LTV mortgage £5000 reservation fee which is part of the deposit with exchange 28 days after. Initial deposit at exchange 30% (£39,758) Service charge: £798/year Ground rent: £300/year The developer requires the purchase of a furniture pack at £2399 Funds held in stakeholder escrow and released in stages once signed off. 10% of property value insured (33% of deposit) They have a compulsory 3 year rental guarantee of £663/month and no service/ground rent charges are applied for those first 3 years. To sum it up ignoring the 3 year incentive... (mortgage interest rate 2.69%) cash invested £42,656 monthly rent £663 gross yield 6% net yield 2.5% ROI 7.8% monthly pre tax profit £278.99 Although thats not with allowing any void periods! With 5.5% interest rate it only scrapes through month to month with a profit. Hope that all makes sense.. i would very much appreciate anyones input! Cheers Mark
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