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chris_hancox

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  1. Hi, If you are looking for straightforward hands-off BTL investments, I would work on an approximate 5% return on investment. So £350k invested would produce a net income of around £17,500 per annum. This is a rough rule of thumb, but hope it helps! Chris
  2. Yes, ERC's would class as finance costs, so they can be offset against your income tax, however they will be subject to the tapered tax relief under Section 24. For full disclosure, I am not a qualified accountant or tax advisor, but hope that helps!
  3. Hi Faizal, Yes of course. Please send me an email and we can arrange a telephone call at a convenient time. I’ll be happy to help you.
  4. Hi Faizal, Property Hub Invest source properties in the UK and have good experience working with overseas and expat investors to manage the process in a convenient and hands-off way. I am a Portfolio Manager at PH Invest and would be happy to talk through what you are looking to achieve, what services we offer, and give you some free advice on how best to get started. If this would be of interest, feel free to drop me an email to chris@propertyhub.net and we can set up a call. Thanks, Chris
  5. Hi propertyyu, The example cash flows at RMP include the fixed costs that are known constants. Ad-hoc costs such as voids and maintenance, also tax which depends on the individual, cannot be accounted for as firm costs. What each individual chooses to allow for each of these potential costs will differ depending on your risk profile, and this is also something that is discussed and explained during strategy meetings at RMP. However as Derek rightly mentions, new build properties usually have much less maintenance cost, and properties with more fundamentals will generally have less/
  6. Two conflicting opinions, so I guess as always the best answer is to seek professional advice!
  7. The key is whether they were purchased as separate flats (i.e. the sale of one not being dependant on the other), or if they were bought as one single lot. I get the impression that they were purchased as one single lot in auction for total price £57,500. On this basis it is a single linked transaction and 3% SDLT would be charged on that basis (£1,725). However if you had agreed individual prices for the separate flats, that would be different... I have experienced this exact situation in the past when purchasing 3 houses at the same time from the same vendor. I had to ensure that
  8. Hi Nick, I assume that you bought them as one single lot, even though they are separate flats? In which case it’s definitely a linked transaction, as the sale of each is dependant on the other. Chris
  9. I’m not sure that is correct.... Refer to below quote from the government guidance (link included below): “When 2 or more property transactions involve the same buyer and seller, they count as ‘linked’ for SDLT. If 2 or more transactions are treated as linked then the buyer pays any SDLT due on the total value of all linked transactions. This may mean that they pay a higher rate of SDLT than if the transactions are counted individually.” https://www.gov.uk/guidance/sdlt-linked-purchases-or-transfers Although I don’t know the full deta
  10. Hi Mike, I would always advise taking some professional tax advice before investing. The best way can vary massively depending on your personal circumstances, and a few hundred £ to pay for professional advice can save you many thousands over the course of your investing!
  11. As long as you have money to invest, now is the best time to buy your third BTL! Dont worry too much about paying down your mortgages right now because rates are super low and inflation will erode the debt over time. Investing in another property allows you to grow your portfolio quicker by benefiting from capital growth over the next phase of the cycle.
  12. Hi! It sounds great that you have so much enthusiasm - your first step should be to take that and learn as much as you can while you are getting your finances together. Attending a local meet up and listening to The Property Podcast are a great start - you never need to pay for expensive courses, the education is all available for free online and in books. One issue you may have is with your Help to Buy loan. I think there may be a clause that you cannot rent out a property you buy under this scheme (at least for a set amount of time after buying) as their intention i
  13. The first question I would ask you, and by far the most important, is why are you looking to invest in and develop property? Your goals, and what you want to achieve through investing in property, are absolutely critical to deciding the best strategy for you, as it's not the same for everybody! Once you have addressed this, you can look at which strategy suits your goals and your own lifestyle circumstances. Do you have plenty of spare time on your hands? Do you have experience of building and renovation work, or good contacts in the industry? If not, Buy-Renovate-Sell may not b
  14. Yes, technically you can use a mortgage for this, however a mortgage is specifically intended for a fixed period of time, typically a minimum of 2 years. So if you are happy to buy with a 75%LTV mortgage, do the development work, then rent out for a period of time before selling once the fixed term on the mortgage expires, this can work. However (more commonly) if you are looking to sell quickly once the renovation works are complete, you could get yourself in trouble with mortgage lenders. In addition, you will likely have early repayment charges to pay. The correct way to proc
  15. Hi Ben, Sounds like you're already far along your property journey with plenty of experience. As you say, most importantly, avoid the sites trying to sell courses. All the education you need is readily available for free! The Property Hub is a great place for advice, with plenty of people here happy to give any advice you may need. Best of luck, but sounds like you're doing great already! Chris
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