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mbffea

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  1. mbffea

    Which area?

    Thank you very much for your inputs, I will start my research from here. I will most probably be working with a sourcer as he or she will hopefully have access to better deals, however I want to be able to do my due diligence. In terms of actually getting things done, I suppose a plain vanilla BTL should be easily manageable on my own even if based abroad. This would mean working with agents, solicitors, valuers, mortgage brokers, and the lot, plus a few trips to the UK which I am happy to do. What about the refurb should I go for a (light) buy, refurb and refinance? Would I be able to build and manage the necessary power team in order to get things done in a proper and reasonably timely manner? Perhaps working with a project manager? Or should I not bother and rather go down the JV route? Would this mean sharing the profit on a 50/50 basis? My plan is to buy 3 to 5 properties over the next 3 years, hopefully more over the long term, therefore I am thinking that perhaps I would be able to leverage the effort of building and managing a local "team", which would mean a significantly lower cost compared to a profit sharing JV. Not having the experience I am just not in the position of assessing how hard this actually is, how many things can go wrong and how many of them can be managed effectively delegating, outsourcing, systemising, ecc. I have time available and it is something I would actually like to do, I think I will enjoy it more than just being some sort of passive investor. I just don't know whether it is feasible remotely, considering that I would be happy to visit on average once a month, I think more would become a bit complicated. Door to door to both Manchester and Liverpool takes me around 4/5 hours and sometime I think that it is not so much different from someone working in London and investing up North, which does seem to be a rather popular choice... Thank you
  2. mbffea

    Which area?

    Thank you so much for the feedback, very useful and much appreciated! My "why" is to create a semi-passive income stream which will allow me to stop exchanging my time for the money I need to survive. I have been in touch with several mortgage brokers and I have been confirmed I can get finance for BTL properties worth 100k+. Financing for other strategies like HMOs is also available, but only after I have built a track record with BTLs, hence this is where I would like to start from. Given that I am based overseas I need to build a local network and power team, this is why I am so concerned with location. If I invest time and resources to build a team in, say, Manchester, if I then decide to invest in Liverpool I would kind of have to start from scratch. Both Manchester and Liverpool logistically work very well for me as I have direct flights. I have visited the cities and I have spoken with several people and of course everyone has his own opinion. I would like to able to have an opinion too, which at the moment I don't due to the fact that I don't know how to research, interpret the fundamentals, would anyone be kind enough to give some guidance in this sense? How do you use regeneration information? For example both cities I am looking at do have regeneration projects going on, how would you weigh this information? When looking at employment, income, crime rates and so on there are significant differences among one neighbourhood and another of the same city, how do you use this data then? Where do you invest and, let alone proximity, for which reason? Thank you in advance for any further help
  3. mbffea

    Which area?

    Hello everyone from a newbie wanna be property investor. I am in the process of getting educated and getting quite frustrated as I can't manage to decide in which location to invest. I am based overseas, which makes it easier since wherever I will end up investing it will be "difficult" anyway... Obviously a lot depends on my objectives, I understand that. My idea is to start with some good yielding BTLs, perhaps on a BRR model, and possibly move to HMOs or SA at a later stage. To be honest I don't need the highest cash flow or the highest capital appreciation, I am looking for a mix of both, and perhaps a location where I will be able to implement different strategies without scattering around the Country. I have been looking at Liverpool and Manchester and I just can't make my mind up as both have pros and cons. One important aspect is that I have limited access to mortgage products and I can only get financing for properties valued at 100k or above, which might represent an issue when looking at the cheaper end (often higher yielding) of the market. Thank you in advance for any help
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