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Dovey444

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  1. Hello All, I am looking for a new location to invest in but a bit stuck, i am not sure what areas are best, for my situation. I have a BTL in wales and currently trying to purchase another. I would like to venture out into another area, possibly up north to diversify my all be is small portfolio. I know the hot spot areas that are spoken about on the property podcast, but i feel like i am priced out from most of these areas as my purchase price for a property is 120K. My personal preference would be a house to purchase, but i am no opposed to buying a flat if the lease and ground rent etc are good. I am not looking to refurbish anything. No more that a touch of paint and a clean at the most. I am going to be tied up for funds once i have made this second purchase so i am taking the time to try and research areas etc but i feel i am in the dreaded analysis paralysis phase and just keep flicking between cities to see if anything fits my budget. Ideally i would like a mixture of capital growth and cash flow (wouldn't we all) but i am not taking an income from any of my properties so i would probably sacrifice a bit of cash flow for more capital growth. If anyone knows of any areas up north that would fit my criteria so i can do some further research on them whilst i build up more funds that would be greatly appreciated!
  2. Hello All, I am in a similar situation myself. I currently have one BTL within a limited company and i am in the process of buying another. But i do plan to buy my own home within the next 5 years. So if i am reading this right, i will not pay or shouldn't pay the excess stamp duty when i come to buy my first own personal home? So if i was to buy my own personal house for £500k (as an example) I would only end up paying stamp duty of £10,000? Not £30,000? When i have spoken to solicitors in the past all of them have said i dont get this benefit as i already own BLT property.
  3. Hello All, I have recently just purchases my first BTL in wales just outside Cardiff, and i am looking to purchase a second property. One of the issues i face is that i work overseas so cant view the properties and areas myself, the first purchase was through a family friend so i did not have to view the place myself. So this next purchase i will have to do more diligence. But have recently been looking at Cardiff city myself and i am trying to get a idea of areas to avoid and good locations etc. I am looking for a purchase price of no more than 120K. Has anyone invested in Cardiff? These are a few properties that have caught my eye on rightmove which i might inquire about for further information. Any info anyone has will be much appreciated! https://www.rightmove.co.uk/properties/123533876#/?channel=RES_BUY https://www.rightmove.co.uk/properties/116394095#/?channel=RES_BUY
  4. Hello All, I have recently completed on my first property! (Took me long enough but i got there in the end!) I was wondering if anyone on here has a spreadsheet or a piece software that the use to track each of their properties? Possibly something you sent to your accountant at the end of the tax year (If you run your properties through a LTD). I want to set up a spreadsheet to track rent coming in and expenses going out etc. Then as my portfolio grows i can use this to compare properties and see which ones perform better etc. Any suggestions or examples are welcome!
  5. Hello, I am currently purchasing my first BTL and i do not currently own my own property. I have come to realise that yes i will not get any tax benefits when i come to eventually purchase my own house. There also doesnt seem to be a way around this either. I would say do what is right for you. There is no right or wrong answer as to what your first purchase should be. Regards, Jay
  6. Hello David Thanks for your reply! I am currently a temporary resident of the Netherlands. However if COVID wasn’t around I would have travelled to the uk once a month or so to visit family members etc. So I might be able to avoid the stamp duty surcharge with an excuse of COVID possibly I will have to check that. Also I do understand the annoyance of sending and reviving docs whilst being abroad. I will definitely bare in mind the digital signatures. I guess I will wait and see what the mortgage lender comes back with. kind regards, jay
  7. Hello All, I don’t suppose anyone on here has managed/tried to get a mortgage whilst being overseas? My company sent me to work in the Netherlands for around 10 months now and will be returning to the uk at some point this year. However I have seen a property that I would like to buy and I know the owner of the property. Has anyone tried to purchase a BTL whilst being overseas and in a similar situation? I have contacted a mortgage broker today and he said I might be limited to products as I will be treated as a expat. I just wanted to know what I will be up against or any lessons learned that anybody could share with me on their experiences. kind regards, Jay
  8. Hello All, I was listening to one of the property podcasts the other day the episode released on Thursday 9th April 2020 TPP 369. At the end of the episode in hub extra Rob & Rob were talking about doing a personal audit on the information we consume. Now during time like we are facing now most of the stuff we can read can be very doom and gloom. Me personally I am quite a positive person and I am a big believer in what you listen to and read has an affect on your overall mood. The news is a big player in this and can really put a downer on your day, so I like to take everything with a pinch of salt that I read from the news. As of a few weeks ago I have seriously cut down my time spent reading the news as i knew it was doing me no good! So I was wondering what sort of websites or sources of information do you guys use to come to your own conclusion about the property market? As we have also seen in previous podcast episodes where Rob & Rob have proven the new headlines wrong! If you could provide me with your own methods of assessing the market or websites you compare against each other that would be great! Kind regards, Jay
  9. Hello All, I was listening to one of the property podcasts the other day the episode released on Thursday 9th April 2020 TPP 369. At the end of the episode in hub extra Rob & Rob were talking about doing a personal audit on the information we consume. Now during time like we are facing now most of the stuff we can read can be very doom and gloom. Me personally I am quite a positive person and I am a big believer in what you listen to and read has an affect on your overall mood. The news is a big player in this and can really put a downer on your day, so I like to take everything with a pinch of salt that I read from the news. As of a few weeks ago I have seriously cut down my time spent reading the news as i knew it was doing me no good! So I was wondering what sort of websites or sources of information do you guys use to come to your own conclusion about the property market? As we have also seen in previous podcast episodes where Rob & Rob have proven the new headlines wrong! If you could provide me with your own methods of assessing the market or websites you compare against each other that would be great! Kind regards, Jay
  10. Michael, Have you considered BRR? You need a sizable pot of money to start 70K+ (which you seem to have). You can basically buy a property which is really rundown, completely refurbish it and then refinance the property, releasing nearly all of the original 70K. It is not an easy thing to do but it could work and you would be able to pay your mentor back quickly as well. This is just a thought. Also if i was in your situation this would be the model i would use. (not saying i am a guru by all means) this is just what i would do if i was in your situation. Kind regards, Jay
  11. Hello All, I was wondering what research you guys liked to carry out when looking at a new area to invest in? I am purchasing my first property and got a bit lucky as i am buying it off someone i know so i could get all of the history and the numbers stacked up. I was wondering what methods of research you all liked and found effective for research? (without visiting the area). Do any of you have decent websites to do some research. I have used websites like www.home.co.uk to get average house price/rental price. Is there anything else anyone would recommend? The areas that i am focusing on or would like to know more about are Sheffield & Crewe. Ideally i would like a 2-3 bed house for 100K which will require minimal refurbishment, i am aiming this at possibly a young family or a young professional. Kind regards, Jay
  12. Hello All, I am purchasing a BTL and I need to get a management company as the property is far away from where I live. I have done a bit of shopping around and purple bricks seems fairly reasonable price for the service they offer. I was just wondering if anyone on here has used them and what your experiences were? Good or bad Kind regards, Jay
  13. Conrad / Alistar Thanks for the information. He only puts the dehumidifier on whilst he is out at uni (which is most of the day) he doesn't leave it on at night. Also from what he told me there are vents in the room as far as he can see. I will try and get him to send me a picture and I will upload this for you guys to see! Thanks for the help! Kind regards, Jay
  14. Hello All, This is a bit of a strange topic as this is spoken from a tenants point but here it goes. My cousin has just started his second year of university at Nottingham and has moved into a shared house with other students. As far as i am aware this house has been let out to students majority of the time. (I know students aren't the cleanest of people). Anyway my cousin has discovered mold on one of the walls in his bedroom, and when he came home last weekend he was saying that he had chest pains.... He has a dehumidifier which he has been leaving on more regularly and says it has reduced the mold a little. However the landlord came to visit the property the other day to check on the property (something to do with the WI-FI) but he also looked in the rooms and noticed the mold. Well his response was find a scraper and get scraping (Not sure it was worded exactly like that) So i was wondering if there is anything that could be done either getting my cousin to try and fix it (providing the landlord is happy with that) or a way to get the landlord to fix it for him, which from his reaction when he found the mold didn't seem to inclined to do. I know there is a selective licensing which has been brought into Nottingham is this of any use? Or could me cousin maybe appeal to get the mold fixed. I'm not trying to be awkward and cause work or a cost to the landlord, but i would hate if a tenant was getting chest pains or had mold in one of their rooms. I hope someone could give some advice on this. Kind regards, Jay
  15. Hello Alistair, Thanks for the heads up. Do you have any areas which you would recommend? Also do you think I will get a 2-3 bed house in Sheffield for 100-110k? Kind regards, Jay
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