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About eddiee

  • Rank
    Established member

Profile Information

  • Location
  • Areas I invest in
    South West Scotland
  • About me
    Newbie investor
  • Property investment interests
    Single lets
  • My skills
    Technology & Business
  • My goals
    Create a new business income
  • Interests outside property
    Home Automation

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  1. Hello Tony, Thanks for that, I'll pm you now. Hopefully I'll see you in a couple of days too at the Dram!
  2. Hi Tony, Yes, I used to live many many years ago on that area, no the nicest... yet housing rent was not cheap nearly 18 years ago! See attached, the area surrounded in red is what I remember (from 18 years ago) not to be the nice area. I have no idea right now... The green cross is where I'm thinking of buying. Any advice?
  3. Hi Tony, What are the no-go areas? Looking into G42 8EL, it seems a bit border line... but wondering if anyone has an opinion on this address
  4. RE: 5- Ltd Company (who owns it) - My SPV Ltd company is actually owned by a holding company (which is 100% owned by myself/wife) and we're the sole directors of both companies. This has ruled out at least one lender because the SPV isn't owned by people. Speak to a tax accountant, in theory you should be able to to create a new SPV and still use funds form your holding as you are director of both.
  5. Thanks, looks nice and free! I was hoping to have as a mobile App but in the meantime that may do the trick... probably far more than I need.
  6. Hello, I have a day job and do BTL only as a side business, all my properties are agency managed as I do not have time to be a landlord. However I'm very keen to find out an App (free/open source/one off payment) to manage records of the property. I have been looking into some already out there but they seem often too detailed and really more tailored to the letting agencies rather than the investor. Is there such a small App out there that could do the following? List of properties with some general details Attach reminders to properties, for example gas ce
  7. Hi, Where are these BTL offset? Never come across them... can it work as a SPV too?
  8. Hi Kate, I'm a total newbie when it comes to BTL, but I have a bit of experience running businesses. My advice from that angle is not to look too much into the paper, but into the real world. The property may have a 10% yield on paper, but can it rent? How many people can afford a rent of £1,250 and not afford buying it since the mortgage would be probably cheaper? Probably professional people with temporary accommodation? See in Rightmove what other similar properties have let for and how long it took. I tend to do this for a few months on the same area before putting
  9. Thanks Ollie! I'm starting to do all 6 at once! Last week was to my first meet up, it was great! Got my first offer accepted so preparing now the mortgage. I started the Ltd route since it would have fitted me better... but there're no many lenders that do Scotland + XLA + Ltd (non SPV). Found only two: Shawbrook (c. 4.5%) and Together money (c. 7.5%). I guess I'll have to stick with personal ones for a while. Cleantech? Technology within the energy sector, ofter related to renewable energy but also different ways to manage energy. For example smart
  10. I can believe that! Ok, spoke with my tax accountant, it looks like I'm going to have to be "pigeonholed" into commercial lending directly into the holding company. The tax repercussions of extracting dividends or director's loans are far bigger than whatever lenders may charge. I guess they know that and make the best of it business wise. As you suggested Aldermore Commercial and Shawbrook seem to be the only ones that can work for me. In the past I managed my own personal mortgages with its fair level of back and forth. I'm tempted to go "broker" this time for busin
  11. Hi Stuart, Thanks for the feedback. Yes I understand the reasons, I always thought a good broker would be able to push the case forward... It always amazes me (had previous tough experiences as a company director) the rules lenders use for deciding a Go / no Go approach. At the end of the day is all down to good/bad business plan and management. Anyway, what did you end up doing at the end? I take you had to either go persona or own a SPV personally?
  12. Thanks a lot for the feedback, really helpful! The reason behind the holding company is because it is the holding company who has the funds, not me personally. For what I understand, it looks like the sensible approach would be: Me -> Own 100% Holding company -> SPV Ltd -> Property Although not sure if lenders will want to see the shareholder being another company instead a person. If not I'll have to do it personally and find a way to use funds from the holding company as a deposit for something I would be owning personally.... tricky!
  13. Hello there, I already have a personal BLT, but since I also own a holding company [with SIC 70100] I'm trying to get the Ltd company to buy the properties instead. So far so good, the challenges I have are: Many lenders do not operate in Scotland so most of the information I can find on the net seems very rest of UK focus I like to use the holding company for this, however it seems many lenders require a SPV to do property investment and nothing else. Many specifically require a Ltd company registered with these SIC codes and to operate on those only: 68100
  14. Hello, I'm an entrepreneur in the cleantech industry and recently got really interested in property investment (after reading a few of R. Dix books + many more) decided to start investing in Scotland. Any tips or people wanting to connect, it would be great! Eddie
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