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haf1963

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  1. I remain unconvinced and not on any social media platform - and very happy with my decision - leave it to the youngsters i say..
  2. I fixed something similar by putting quality thermal wallpaper on the walls and providing a dehumidifier. The wallpaper can be painted so not a huge job plus the property was warmer as a result as well as mound going away
  3. You should be looking at about 20% for a flip due to the numerous costs and taxes involved - other variable are whether you took out a loan or if the project takes too long etc On yield - it depends - but around 8% is a good target
  4. Agree - whether a deal stacks up or not does very much depend on the buyers objective. If its income then its getting trickier with high interest rates as the current high prices mean that low interest is essential to make the deal work. If its a ‘pension’ i.e long term growth with no income requirement then current discounts may well facility some deals. I used to be in the latter camp but now am in the former - hence pausing to assess how the market goes before jumping in again.
  5. There are likely to be all sorts of changes focusing on tax and regulations that get announced over the next 6-12 months with EPC being one possible one. Right now its impossible to say which ones will actually happen and how they will be implemented - so impossible to work out the impact. I am currently more focused on interest rates and property prices to see how well deals stack up rather than what may happen in the future. It’s very likely that any new changes will have a negative affect on landlords so you need to make sure you are not stretching yourself and that the deals stack up well
  6. That sounds most strange - could be the tenant or someone reported a major fault and hence it was done this way. Normally its impossible to get them out to do anything that’s not a gas emergency - at the very least you should be able to call and get some information.
  7. Just wondering what people think - given we are supposed to be entering a boom phase for a few years before a crash according to the cycle but its looking very likely that the boom has already ended - and maybe it was 20/21 that were the boom years? I suspect that given the ‘flexibility’ of the timings in the 18 year cycle, the true believers will adjust the last cycle since 2008 to make it fit the reality. Just interested in opinions. Personally I agree that there is a property cycle where property values increase to various degrees before some sort of major/minor adjustment but I am not convinced its as ‘guaranteed’ as is often said..
  8. Look pretty reasonable. My insurance is higher so worth checking that and my certs are lower but overall you look like you have everything covered. If you are getting it managed by an agent then its likely they will chuck in random costs.
  9. In most cases, this option will not work for the majority but no harm in trying if you are in the 1%. It was a non-starter when i tried it..
  10. If its an old house that hasn’t had a recent refurb then you really need to know your stuff as there are loads of pitfalls. There are some regulations things like mains smoke alarms, gas cert, electrical etc that you have to do and may or may not be easy/cheap. Then there are things that you should do to avoid having to keep coming back as and when they fail - kitchen/bathroom/drains/etc. Then there are things you may want to do to make the place attractive like paint/carpets. Then you have to look at tailoring things to suit BTL eg hard floors downstairs/carpet upstairs, neutral colors, electric cooker versus gas, low maintenance garden etc. Everything will have a cost and if you don’t have a good knowledge around this then you really need to team up with someone who does have this knowledge and ability to do the bulk of the work as hiring 20 different trades is very expensive. I have both done full refurbs myself but also have a good relationship with a builder who can do 90% of the work and knows who can do the other 10%. Trades are in demand right now so polenta of scope for getting ripped off.
  11. Have to agree with Julie in that stashing into tax free isa/pension should be first choice and then add some property. I am fully expecting some of my tenants to get into arears over winter so its likely i will be happy if i can get through the winter covering my costs (inc tax etc) never mind making a healthy profit. Tenant demand is still super high so that’s the main plus at the moment and property prices are still doing ok in decent areas so i wouldn’t say property is a no-no. Whether now is the time to start in property is a more difficult question and I am not sure I would do it - at least wait a while and see how the economy etc shape up..
  12. Auctions may be your best bet to find a half decent deal in need of a major refurb
  13. 1. I believe the S21 replacement is going to make it easier and/or quicker to remove tenants that are in arrears/anti-social etc so hopefully this will not be an issue - though need to see the detail as usual 2. Never had a tenant leave in that short a timescale as the costs of moving in (unfurnished) are probably more than re-letting. This seems like more of a theoretical issue than a real one - at least for standard family BTL’s 3. Agree but I don’t dabble in the student market.. Also agree that EPC is much more serious/costly
  14. I have not studied the bill in great detail but looking at various summaries I am not sure how much there is to object to - certainly not thinking of throwing in the towel.. Most of it seems sensible and no doubt will get tweaks to iron out some of the detail.. Perhaps you can highlight your main concerns as its certainly possible that I am missing the major issues.. Would be useful to see a summary of your feedback as it will help others pick out the areas they may want to feedback on
  15. The predictions out there are covering a wide range both in terms of the %ge fall and the timescale.. One end you have 50% fall and the other 5% with timescales from end of this year to 2025.. Everyone is guessing so impossible to make decisions in this environment. I’d go with 10% in next 2 years but I am continuing to invest as i see good deals.
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