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Adam Audi 0000

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  1. Great read, great determination. Keep the motivation. I’m in my early 20s, understand my borrowing capacity and now have the deposit ready to fund my first buy via. residential mortgage with my First Time Buy ISA. I am looking to find something I can add value to, so then I can take a similar approach of releasing equity to fund a BTL property venture via SPV Ltd company. So I will be sure to check back in to your thread. Agree with the others, the knowledge here is great! I look forward to reading more about your journey, good luck! Cheers, Adam
  2. Thanks both, for not only taking the time to read my initial post, but for replying and providing advice. I really appreciate it. In terms of an update to my original post: - I am now 24 as of this month (August). Still learning, determined more than ever! - I now have a mortgage broker and understand my borrowing capacity. - I am looking to use my first time buy ISA (I’ve had this set up since the age of 22) to buy with a residential mortgage. Not to be confused with the Help 2 Buy Govt loan. (To any other younger members/ first time buyers, I would consider the LISA now rather than the First Time Buy ISA as you can put in more money each year: https://hoa.org.uk/advice/guides-for-homeowners/i-am-buying/the-help-to-buy-isa-or-lifetime-isa/ Just remember to never withdraw from the LISA to prevent being penalised) - I have got off my arse and viewed 6 different properties. - I want to book onto a local property meet up event but the hot strategies in Birmingham are rent to rent and HMO. Something I don’t feel is fit for my long term goals. I also feel a little nervous to attend such an event, whilst being quite young. Any advice again would be appreciated. - I aim to buy whilst interests rates are still low and I’d like to lock that in with a fixed term mortgage. - I am looking for a house I can add value to, this allowing me to release some equity by remortgaging in a few years once the Govt have settled the Brexit situation. Then the real property venture can start. I hope to have another update for the few that have read this post, before Christmas 2019. Cheers, Adam
  3. Hi Dan, Thank you for sharing this. I am thinking about this approach. For your first property, on the residential mortgage, did you use a first time buy/help to buy isa? Also were there any restrictions imposed I.e. cannot sell the property for XX amount of time. How did you get permission/ consent to let, was it relatively easy... what was your reasoning you provided to your mortgage provider? Thanks for any response Adam
  4. Hi Dave, Apologies, I was dipping my toe in the water by engaging with this post. I have over the last 12 months landed a Full Time job and have managed to save up money to hopefully start out. Yes I do live in the UK, West Midlands. I am not a property owner. Regards, Adam
  5. Hello, I’m Adam aged 23 from Solihull, Birmingham. I come from a pretty piss poor family. After several years of hard core study, it’s paid off and I now work full time and I enjoy my line of work. The industry I work in doesn’t appear to be affected by anything Brexit. I do not look on replacing this job to become a; full time, hands on, busy bee landlord. Being young and earning £35k+ I ought to be wise and invest for my later years. I do not wish to get any short term gain by topping up my income as this will begin to push me ever closer to the next Tax (40%) bracket. After careful consideration, I feel strongly about being in it for the long term gain. I want stability in my later years, pension etc. I feel the best for me to operate would be via. Ltd company, however I am novice so would welcome any advice regarding this. What you've done in property so far? I still live at home, however...over the past 12 months I have started by investing my time in researching property and the various strategies. I do not own any property, however I have now saved £20k. What areas you invest in (or want to invest in) I would like to invest in and around the West-Midlands region. What your plans are for the future? I am unsure about the immediate future. Do I invest in my own property first via First Time Buy ISA. I have £5k in this already. I wish to have a small property portfolio of 5 by-to-let’s by my mid 30’s. Any skills or knowledge you've got that other members might benefit from. I work in technology and I love to work smarter not harder (via automation). Once I have an understanding of tedious tasks of being a landlord. I would invest time to automate/ cut-time. Thanks for having me and allowing me to introduce yourself, I look forward to reading other threads on the forum! Please reach out if you are from the Solihull, Birmingham area. I also look to get advice regarding Tax and to also have a sit down with a Broker. Kind Regards, Adam
  6. What was the outcome on the advice given? I am too in a similar situation. Many thanks in advance. Adam