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About the_dave

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    Established member

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  • Location
  • Areas I invest in
    North of England
  • About me
    - Property investment business started in 2018
    - Online marketing business with focus on SEO started in 2011
    - Active investor
    - Living in Durham City
    - Currently writing weekly on smartinvestor.blog
  • Property investment interests
    Buy to lets, serviced accommodation, student HMO's.... anything with good yields!
  • My goals
    To build a passive income stream focussing on yields which allow me to beat those

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  1. Hi Ciaran, A great way to to establish rental demand is to load up an area on Right Move (rental search) and tick then untick the 'Let Agreed' box. This will allow you to see how many properties are available for rent vs how many have been rented recently. If you are seeing not many properties available to rent and plenty of let agreed it's a sign the area is strong for rentals. If there are many properties to rent and very few let agreed it show there's maybe not so much demand in the area. It's not a be all and end all metric but if you also have a look at what's on the market in t
  2. I bet they do. I've never heard an agent who doesn't. Turns out that properties always end up listed on Right Move though.
  3. Hi Scott, Nothing wrong with not wanting to go crazy and build a huge portfolio. I'd seriously look at buying somewhere cheaper than £100k though because you'll find your overall yield will be way higher. If you look at some different areas you'll find that rents will be say £500 p/m for a 2bed but in location A that property will cost £100k and in location B it costs £80k. I know Tej Singh (Tej Talks Podcast) invests in Wales - check out some of his deals here: https://tejinvests.com/portfolio They'll give you a good guide on what's possible. I'd also recommend this article on
  4. Hi Marc, Without knowing the address it's difficult to really comment on the valuations you mentioned (I'm not suggesting you share it) but just because you bought it in cash for cheap doesn't mean a valuer will come in and say it's only worth the £110k you paid. Depending on who values it you might end up getting a slightly lower valuation than if you'd bought and refurbed but with that much meat in the deal it seems to me like you should have plenty of wiggle room. You could just straight up sell it on for £130k and pocket a solid profit so there's multiple exit strategies if you d
  5. Hi Sarah - if your plan is simply to build up a pot of cash then flips are going to be a good way to do it (buy refurb sell). You could also look at anything that had enough land with it to build an additional property on if were feeling a bit more ambitious. Otherwise the majoirty of other strategies are tailored towards building a portfolio of properties to rent out to build passive income.
  6. Hi Adam, I've got no idea what the market is like in the Home Counties but as a general rule the further North you go the better your yields are going to be. You might find that if you have one or two unencumbered properties in a Limited Company that you'll be able to use the properties as collateral for the company to get BTL mortgages. I'm sure a good broker could advise on this and sounds like it'd be worth you sitting down and going through it. Cheers Dave
  7. I would remortgage one of my properties, maybe even both, and use the cash to buy and refurb target properties. Once the refurbs were done refinance and go again. Will slow you down a little as your cash won't go as far but you won't have to pay the costs or take the risk associated with bridging finance (risk being running over predicted time frames and pay more interest).
  8. BTW if it makes you feel any better we've got a lady next door to one of our refurbs who keeps telling us we can't drill into her wall. Her wall being the party wall between the two houses. She gets very uptight when told politely by both me and my builder (on separate unrelated occasions) that it's a party wall not her wall. She also likes to march in unannounced whenever she hears noise to make sure it isn't happening. Needless to say we've taken to just ignoring her and being nothing but nice whenever interactions occur. Getting wound up seems to just trigger people. We're agreeing to
  9. These type of issues can really take up a lot of space in your mind. The more properties we refurb the less and less bothered I get about them but still I feel your pain Matt. Personally I'd get a gardener in to cut the thing right back on my side and I'd see what it looked like. I'd politely inform the neighbour what I was going to do and explain that if the result means the leaning part is knackered you'll replant as mature a hedge as you can find and make sure it's properly maintained in the future (hence filling the gap). Be confident that suggestion is fair and make peace with yourse
  10. Hi Tomo - in my experience the lower the value of the property the higher the yield so to maximise yield you're going to need to buy at the cheaper end of the market. Maximising yield means maximising cash flow. However we have used serviced accommodation to match and better the yields available in cheap housing but pulling all the money out of the deal is much more difficult. In prime locations, with high occupancy, you usually have to pay a premium for property (unless you get in very early) and in a competitive marketplace BRR becomes harder to do. We have serviced accommodation u
  11. That's exactly our set up as well. Holding company with two ltd companies underneath. Money moved around as needed. Probably is a bit of an echo chamber but I think people get obsessed with being 'in property' and forget that it can just be an investment vehicle much like stocks and shares can. It's also VERY difficult to make a lot of money building a portfolio when compared to how some other businesses scale. Many in property don't fully grasp this as property is their world and they haven't run businesses outside of property. The vast majority of what is written or spo
  12. OK... so would quite like to start a business your sons could get involved in and help them both get on the property ladder. Here's what I'd probably do. Open a limited company to trade under which will own all of your properties. You can bring your sons in as directors or onto the payroll at a later date if they want to get involved. Use a rough buy to let calculator (I put my own simple BTL caclulator online here) and work out what yields would be in your local area vs further afield and then decide if you think it's worth investing out of area or not. For most people the choic
  13. Always base my deals on 0% capital growth as well - any that comes is a bonus!
  14. You can 100% pay people to go to viewings on your behalf. Not something I've ever done but I know people do it. Hopefully someone else can drop in a message with some services out there that you could potentially use.
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