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haf1963

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  1. Like
    haf1963 got a reaction from andyc54 in Making an offer.   
    The register deadline is usually only a day or 2 before the auction itself so unlikely but no harm in giving the action house a call to ask..
  2. Like
    haf1963 got a reaction from foster in Tenant problem, or is it?   
    I would call it a great result as long as quality of work is to a decent standard - most tenants are the opposite and always asking for things to be done..
  3. Like
    haf1963 got a reaction from Adam Hosker in Refurb works within SPV Ltd company   
    I have been doing this for last 5 years and have had no problems with the buy/renovate/rent/mortgage process or my accounts. I sold 1 property but it wasn't a flip as such - just decided the property wasn't performing for me. The accountant said its fine for a BTL SPV to do the occasional sale if it needs to as that not the same as 'trading'. All good so far..
  4. Thanks
    haf1963 got a reaction from Broo in Setting up as a home based letting agent - portal access via openrent?   
    Yes I manage a few properties for a friend and its never really come up as a question from clients as they only ever deal with me and have never seen/spoken to the owner - who is remote. 
  5. Thanks
    haf1963 got a reaction from Broo in Setting up as a home based letting agent - portal access via openrent?   
    You still use open rent but they will need some evidence that the property owner has agreed fro you to represent them - eg a signed letter - at least that's what's worked for me
  6. Like
    haf1963 reacted to nicholas_b in Anyone using an SSAS Pension?   
    @david slater might be able to give you some pointers.
  7. Like
    haf1963 got a reaction from horne-properties in Refurb works within SPV Ltd company   
    I have been doing this for last 5 years and have had no problems with the buy/renovate/rent/mortgage process or my accounts. I sold 1 property but it wasn't a flip as such - just decided the property wasn't performing for me. The accountant said its fine for a BTL SPV to do the occasional sale if it needs to as that not the same as 'trading'. All good so far..
  8. Like
    haf1963 got a reaction from david slater in Refurb works within SPV Ltd company   
    I have been doing this for last 5 years and have had no problems with the buy/renovate/rent/mortgage process or my accounts. I sold 1 property but it wasn't a flip as such - just decided the property wasn't performing for me. The accountant said its fine for a BTL SPV to do the occasional sale if it needs to as that not the same as 'trading'. All good so far..
  9. Like
    haf1963 got a reaction from LEAW in A few questions around passing on ltd company directorship to children and avoiding a potential tax mine field!   
    This is a complex area and really needs a detailed discussion with an accountant and solicitor, as well as factor in other IHT stuff - I had to do both and get involved in looking at setting up a trust and all sorts. Worth paying a few quid and getting proper advice versus random ideas from fellow forumers - though you may get some pointers if this what your after.. 
  10. Like
    haf1963 got a reaction from richard brown in Let's talk KITCHENS - Who do you use and why? ....   
    I prefer benchmarx as its great quality and can normally negotiate a good price. Though recently I have done a few from wickes 'pickup and go' range as every few months they do a 20% off and then an extra 15% off for a Weeknd and I have the 10% off everything card as well. Got some cracking deals and the quality is similar to benchmarx as they are owned by the same HQ. It does tend to be a limited range so not a lot of fancy units but great if you want slab white etc
  11. Like
    haf1963 got a reaction from lozd in Advice needed for cash bought refurb sale   
    It really depends on what mortgage you are able to get based on your income as a good option would be to get a 75/80% BTL mortgage against 220k and that should easily allow you to pay off the debts and have a bit extra for a future deal.. 
  12. Like
    haf1963 got a reaction from scotty d in Rob & Rob's thoughts on the Budget - March market update   
    Personally I think the govt is putting 'feel good factor' ahead of sensible economics. House prices are doing perfectly well without the need to boost the market even further as the FTB's are just having to pay more. 
  13. Like
    haf1963 got a reaction from russiansergey in CT61 for borrowed money to fund LTD Company   
    Yes this is indeed thecae - the interest paid by the LTD is an 'expense' so paid before profits get corp taxed. As I recall the LTD has to pay the tax on the interest 'at source' i.e give hmrc the 20% tax rather than give the loaner 100% of the interest and leave them to sort out the tax. At least that's how my accountant explained it to me..
  14. Like
    haf1963 got a reaction from Mark Rocks in Rob & Rob's thoughts on the Budget - March market update   
    Personally I think the govt is putting 'feel good factor' ahead of sensible economics. House prices are doing perfectly well without the need to boost the market even further as the FTB's are just having to pay more. 
  15. Like
    haf1963 got a reaction from nicholas_b in Rob & Rob's thoughts on the Budget - March market update   
    Personally I think the govt is putting 'feel good factor' ahead of sensible economics. House prices are doing perfectly well without the need to boost the market even further as the FTB's are just having to pay more. 
  16. Like
    haf1963 got a reaction from russiansergey in Investing £80k in property advice please   
    I think you are being way to ambitious on both counts of finding decent properties in Liverpool for 80k (versus slightly dodgy areas) and being able to buy/min-refurb/get-tenant etc 4 times in a year. My experience on LTD mortgages is 4-5 months as they will do some serious checks against you personally as well as the company. Whether you will actually get 4 mortgages is also another question. It also looks like there isn'y much of a buffer in your calc for deposit/solictor/stamp-duty/etc at 20k per property. 
    I would say 2 per year is amore realistic goal and maybe 100k each to get in a decent area - but I am not a Liverpool expert so just going by what others have said. 
    Good luck on getting started (I am also in Birmingham and decided to stay local so far)
  17. Like
    haf1963 got a reaction from Marc in Deal Advice/Critique   
    Excellent deal by the sounds of it and if its really 110 versus 150k then I would not really be asking many questions or worrying about future mortgages as the deal is so good. The seller 'however motivated' must not be very smart as,  in the current hot market, he could sell for 130 and get it instantly snapped up (assuming its in a half decent area).
    good luck
  18. Like
    haf1963 got a reaction from horne-properties in Investing £80k in property advice please   
    I think you are being way to ambitious on both counts of finding decent properties in Liverpool for 80k (versus slightly dodgy areas) and being able to buy/min-refurb/get-tenant etc 4 times in a year. My experience on LTD mortgages is 4-5 months as they will do some serious checks against you personally as well as the company. Whether you will actually get 4 mortgages is also another question. It also looks like there isn'y much of a buffer in your calc for deposit/solictor/stamp-duty/etc at 20k per property. 
    I would say 2 per year is amore realistic goal and maybe 100k each to get in a decent area - but I am not a Liverpool expert so just going by what others have said. 
    Good luck on getting started (I am also in Birmingham and decided to stay local so far)
  19. Like
    haf1963 got a reaction from matt1986 in Are cash buyers not as sought after anymore?   
    or you could try your local auction as I have had some success there in the past - a bit more risk and need a bit of luck but do-able as a cash buyer
  20. Like
    haf1963 reacted to julia urquhart in Can't decide where to invest!   
    If you already know Nottingham I would buy there. It can be quite easy to buy a property in the 'wrong' street and if you already know Nottingham use that knowledge. Nottingham is a great place for rentals at present so I would've thought the advantages of knowing the areas outweighs anything you might find elsewhere.
  21. Like
    haf1963 got a reaction from nicholas_b in New Lettings Agency   
    maybe start with spelling 'agency' correctly in the title 🙂 
  22. Like
    haf1963 got a reaction from r macer in How much debt is too much?   
    around 50% is enough for me - especially as its interest only. Total depends on your risk profile, time horizon and ability to service the debt
  23. Like
    haf1963 got a reaction from joni in Renting big properties in socially deprived areas - would you do it?   
    I wowuld be surprised if you got planning for flats as, in my area. the council does lots of checking and has strict conditions around flat conversions - fire escapes, parking and all that. In the old days a HMO would be the way to go but now that even they need planning, its going to mean more work/cost but do-able if the numbers stack up.
  24. Like
    haf1963 got a reaction from dino v in New investor - strugling to see benefit of BTL property vs stocks index tracker in ISA   
    I thinkthere is evidence that there are more losers than winners when it comes to the average investor trying to be clever. There will always be some who take more risk and get more reward - and have nerves of steel - verus others who are looking for a low risk long term investment while they get on with the rest of their life.. Takes all sorts and you def did well to sell/buy in timing the market in 2020...
  25. Like
    haf1963 got a reaction from Ed H in Timing BRR   
    Assuming you are fully aware of the risks in using bridging - especially in a flat/declining market then its all about buying below market value. Its really hard to time the market and there is as much likley hood of getting it wrong than getting it right. I decided to sit out this year as expected covid/etc to hit the market and wasn't expecting the dramatic increase in people buying property. At the same time I did keep an eye out in case a good  deal came my way but the market has been so competitive that i hardly saw any deal that were attractive to me and my strategy. I did sell a property so did pretty well on that side at least. I am still looking and hope the cooling of the market now will show up some deals at auctions etc but ver hard to predict. Personally, i could do with the govt not extending stamp duty etc and encouraging growth in house prices but who knows.
    The other factor has to be how importan the property business is to your income - if its a major part then there is no question of waiting around for price decreases. My advice would be to look for deals now and go ahead if something looks attractive.
    Personally, I am not a fan of bridging but I can understand when its the only option available..
    Good luck
     
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