haf1963

if your primary goal is income then why not - if you are after long term capital growth then not-so-much

if it sounds too good to be true...... could be something in the lease agreement thats lowering the value. There is not much info here to go on but am guessing its a terrace 3 bed maybe with a couple more converted or extended? First thing i would check is what the value of the property is if sold as normal house and compare to your 66k.. Can't really offer much advice given complete lack of information like location - i guess its an undesire-able area in a not very well of town/city?

Good in the short term - may or may not dampen demand if immigration is clamped down on in the medium term..

I tend to simply box up the timer/thermostat so no-one can messwith it - after setting sensible on/off times of course

I will be buying if there is a bust

Yes - you have to make an offer via the auction house and and all normal auction conditions apply in terms as 'sold as seen', 4 weeks, 10% deposit etc. My expereince is that anything that looks like a low-offer will be immediaetly rejected - so its not really a good way to get BMV but can be good if you are after something very specific. Many sellers (eg councils) will not consider pre-auction offers at all

my understanding was that permitted development is single story only so if you are building 2 storey then its automatically planning permission needed

yes all my BTL have been refurb and most from auction so happy to answer questions directly or on this thread - by no means an expert though

Have you got any skills and or contacts in the refurb space as the key to cussess is a reliable set oif people who will get the work done on tie and at a decent price. Assuming you ar enot going to do it all yourself. Secondly what degree of work are you prepared to do as the more value you add, the better the margin. A cosmetic flip is very different to a extension/loft-conversion. I assume you have worked out all the numbers factoring in tax/stamp-duty etc Exciting times so good luck

I think your best bet is to go ahead and start some viewings and offers to get your first property. Once you have done that you will know a whole lot more about every aspect and you can then decide if the strategy is still a good one. As numerous people have said, the reality of doing a BTL from start to finish is very little like the theoretical model we come up with remotely. The main learning point for me was that the net income is pretty low - especially after LTD company costs have been factored in - so double check your figures. "Strategy: Buy a portfolio of 4 (maybe 5) freehold houses in Leeds around 1-2 miles from the city center. Purchases will all be in a LTD company I will need to setup. Have already found 4 houses on zoopla, each house goes for around 80-90k and rents at around 500pcm. Assuming asking price purchases, Gross yield at 7.25%, ROI at 8.3% (assuming 75% LTV and 20% written off the rent to take into account management fees, voids and ad hoc costs). This produces an annual net cash flow in the first year of £8.7k." My experience is that you are being a bit optimisitic with 8.7k net given 4% mortgage rates for LTD and accountancy fees, insurance and various other bills. I would think 6-7k is more realistic. I would also factor in that its unlikely these 80-90k properties meet the regulations for letting so expect some upfront costs as well. As I said at the start of this reply - your best bet is to go and buy 1 and get it rented out - only then will you know the true figures. Exciting times for you and good luck with the venture

Or set up a Ltd company as joint shareholders and pay her a salary

Yes - he can 'gift' you the money and then you put it in the LTD as a 'directors loan'.

Its good to diversify so having a combination of property/investments is the best option if affordable. I maxed out my pension (or close to) and then went BTL. In terms of effort/risk/hassle/returns etc then the stock markets have delivered better growth with less effort for me over last 4-5 years than the BTLs - but BTLs are a longer term bet. Having got to 5 BTL I am now siwtiching back to stocks via various means

This is a super complex questoin with too many variables to give a straight answer. As a start lets assume yopu get 10 properties at 150k each giving 700 minimum in rent (numbers work in the midlands so could be better in liverpool etc). at 40k per properties for deposit and expenses then you are looking at 10 properties. Assuming each one has a 50% mortgage interest cost and 10% management plus 10% buffer then you are looking at 30% return so 200 per house i.e 2000 per month for all 10. The 10 properties would have cost you 400,000. There are a huge amount of factors not considered eg - unlikley you will get 10 mortgages, - tax implications depending on personal versus LTD plus a load of other things Then there are options like HMO or buying blocks of flats and many others so you really need a lot more advise than this forum to be honest. The numbers above are so rough that I would not be making decisions on them for sure. You could probbaly double the 2k per month by doing this differently - but those will bring you into different challenges

10k is not unreasonable given the work involved. I tend to do a full refurb that costs 20k inc rewire/heating/etc but no roofing work. I am not sure the externals need insulation boards and rendering Also i assume that your proerty is the one in the middle of the last photo rather than the one who's garden the photo is taken from.