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adiel stephenson

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About adiel stephenson

  • Rank
    Established member

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Profile Information

  • Location
    Budapest, Hungary
  • Areas I invest in
    Budapest, Liverpool
  • About me
    I own and run a language services company, but I invest most of the profits into property.
  • Property investment interests
    auction properties, multiroom lets, buy to sell, offplan apartments, mixed-use commercial/residential
  • My skills
    investment for profit, very good knowledge of the Liverpool property market and the Hungarian property market
  • My goals
    Maximise return on capital over the long term
  • Interests outside property
    Languages, translation, travel, reading

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  1. Careful of Liverpool. I'm not saying it's not a good town to invest in, only that you need to know what you're doing. You can lose your shirt there very easily. Also, prices are quite inflated now - you really need to know your postcodes and even your streets. It's easy to overpay, and when prices drop, they drop like a stone, and often don't recover for a good few years thereafter. Leasehold properties are particularly problematic there. Another problem is with the quality of tenants, and with the quality of agents to manage them and your properties... If you're got any specific questions abo
  2. RW Invest are pretty good, meaning they don't tend to back a developer that they haven't checked out thoroughly. This is very important, as there have been many cowboy developers in Liverpool in recent years who have gone bankrupt, leaving the hapless investor holding an uncompleted or unsellable property - sometimes for years. Legacie are also good developers with a solid track record. However, the problem is the price. These flats are way overpriced. For example, they're asking for at least 210k for a (small) 2-bedroom apartment. That's very expensive. Marshalls were until recently selling 2
  3. RW Invest are doing very well, don't worry about them. They haven't got enough stock to meet demand. However, like all the other new build stuff in Liverpool, it's all significantly over-priced: 2-beds in Parliament Square, for example, are going for around 210k, whereas you can pick up decent 2-bed flats around that area that are a few years old for 150k. As for studios, I almost spat my coffee out this morning when I saw Knight Knox (of Manchester new-build fame) was selling studios in Fox Street Village (not even a good area and not the true city centre) for 85k, and even 95k for the "penth
  4. I just paid 4.5k for a 4 bed house in Liverpool as part of a refurb. Yeah, it was expensive, but it's good to have a spark who's motivated.
  5. Bad deal. What makes your think it's discounted? Just because they say so? 175k isn't giving it away for a used 1-bed flat in Manchester. 850 per month x 12 = 10,200 per year, less 6% fees (why do you need the agent?) is 9600, less service charge and ground rent = 7800 net p.a. Now add on the 3k + VAT to the purchase price (3600) and the stamp duty (6000) and you're paying closer to 185k. Net yield = 4.2%. That would be considered good in London, where you can expect capital growth, but it's not really acceptable in Manchester. Unfortunately, you're not going to get much capital growth on that
  6. I've got a few of these properties, both in Budapest and Liverpool, and I've never paid a penny to an agent. I do it all myself. You need to pay for the cleaners and that's it. They buy anything you need in the way of bedding or toiletries, and you reimburse them for it. Never understood why anyone pays an agent 15-30% to manage holiday lets for them, unless they're either incredibly busy with the day job, so much so that they don't have a few minutes to spare each day to send messages to the guests, or they're so chronically lazy that they simply can't be bothered with it all and are willing
  7. Please show me a concrete example of a 60k Victorian house that sold for 150k as an HMO. How much do you think it costs to do the initial conversion, how much time does that take and how long before you've got a sufficient track record of stellar rental income before some mug pays you 150k for it?
  8. If you believe that post, you'll believe anything. The question isn't even understandable, the facts contradict each other within that one paragraph - and there isn't even a surname or a picture. Come on...
  9. Don't bother. If it's been there for a while it's got problems and you need a lot of money stashed away to cope with those problems as and when they arise. Why are you even looking at property investing with only 10k in the bank, by the way? Property investing is not a quick road to riches, or very rarely so. There are many other assets you can make a lot more money at if you've got just 10k to invest (try picking the right stocks, for example).
  10. Firstly, you're very limited with only 80k. I keep seeing people trying to get into property investing with very little in the way of investable funds - it puts you in a very disadvantageous position in terms of your ability to move quickly and greatly reduces your bargaining power. Personally I wouldn't even think about property investing with under a quarter of a million pounds to invest, and even then, only if you've got other investments - it's just too slow an investment asset, and too risky as well. If you make one mistake you're done for. But hey, that's just my opinion. That said, real
  11. Woooah, slow down boys and girls. That sounds like a very lucky first forray into the otherwise very risky field of HMOs. I invest in several kinds of property and of those, the HMOs are not the best overall performers (and give me by far the biggest headaches). There are many things you have to factor in: firstly, the time it takes to convert a 3-bed house into a 5-bed monster with ensuites, secondly, the fact that you're destroying what could have been a beautiful and well laid-out Victorian house that first-time-buyer families would have otherwise paid a premium for if tastefully renovated
  12. I invest exclusively in Liverpool, so if you have any specific questions, I'd be happy to answer them to the best of my knowledge.
  13. I've had experience of buying at auction in Liverpool. It's very difficult, but not impossible, to buy properties to flip, but the prices at the Liverpool based auctions often go through the roof on the day. You need to know what things are worth. I can help you with that if you want.
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