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Michael Hanning

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About Michael Hanning

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  • Location
  • Property investment interests
  • My skills
    Engineering, Project Controls
  • My goals
    Short Term - Make a start
    Medium Term - Have a portfolio with a cash flow that significantly increases my income
    Long Term - Portfolio that can replace my day job income allowing me to focus on different things
  • Interests outside property
    Sport, mainly rugby at the moment as I play for a Scottish club although golf, cycling and football are all regular additions. I have an interest in engineering. I also enjoy food!
  1. Turn of fortune indeed Kris, I am still in the hunt for my first property but things are moving along. The private bridging sounds interesting although you would be tying all your capital up at once. It does seem a quick way of extracting money by doing very little. I'm not sure what lenders would think about it? Would they give you a mortgage for the property value (if you get it BMV) or would they only give you what you bought for it? From other posts on here it seems that if you buy BMV and aim to re mortgage 6 months later they still wont lend you what it might be valued at unless you
  2. Hi Michael, I've seen your post about looking for a broker around Edinburgh. Do you have anyone to recommend? Thanks by advance.

  3. Thanks Richard, I am planning on going around a couple of places to get a feel and then take it from there but will take on your advice!! Thanks for getting in touch and will add your suggestions to my list. Cheers, Mikey
  4. Hi, I currently live in Edinburgh and am looking to purchase my first property (see my Edinburgh Intro post ). I was wondering if anyone had any good or bad experiences with solicitors in Edinburgh? There are loads of solicitors and knowing which are good is hard to find by research alone. Similarly if anyone had any experiences (good or bad) with mortgage brokers in the same area that would be great. I have been testing the waters but some personal experience would be welcomed for a property beginner like myself. Likewise, if anyone has advice and pointers from outwith Edinburgh t
  5. Where are you thinking of refurbishing next Dale and do/ did you own a property before taking on your first refurbishment? I'm just curious as to how people at a similar stage to me started out and got things going. Did you work in property already? Some of the people that I have spoken to seem to have gotten into it by accident after not being able to sell a flat or break ups etc. and are now "accidental landlords". Kris's post earlier in this topic was really useful from the point of view of an intentional landlord and the level of detail was great to see! Will hopefully keep up with his pro
  6. Thanks for the comments guys, when I had posted I didn't actually think that I would get a response or that there would be anyone in Scotland but to hear back from you all is definitely encouraging! I will work my way through the comments that you've left: Kris, thanks for taking the time to write about your first adventure. It’s good to hear someone’s story who is in a not to different place to me and shows a clear route to making a start. The reasons for me doing this is to one day (hopefully) give me the opportunity to retire early from the ‘day job’ but continue to have an income t
  7. Hi there, I am a Civil Engineer working and living in Edinburgh where I have lived my whole life. I graduated and have been working for a couple of years now whilst saving some money. I have now reached a point where I could buy a property to live in although the preferable areas are quite expensive especially for a first time buyer in Edinburgh. I have looked at other methods of investing but property is a sensible long term plan, seeing as I am only 25. The aim would be to have a property that could be let out whilst I rent somewhere else and save to reinvest. This may also be beneficial
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