Jump to content

emma jayne

Established Member
  • Content Count

  • Joined

  • Last visited

About emma jayne

  • Rank
    Established member

Recent Profile Visitors

The recent visitors block is disabled and is not being shown to other users.

  1. Hi John, great position to be in - I’m not an expert but hopefully my reply will get more people posting for you!! The predictions going around about the north on the rise would suggest you’ll get yield and capital appreciation in Manchester - and one tenant out of three giving you trouble wouldn’t cripple your cash flow. Risk spreading. On the other hand London bounced back from recession much quicker than parts of the north and one tenant to deal with, if you get a good one could be a lot easier! Maybe some questions: Will you or family ever want to live in the property in the future? What would be the quality of the manchester tenants at 500 quid month - can you get professionals? Do you plan to get a managing agent or manage yourself? Have you looked at the growth patterns over last 20 years of properties you looking at to see how much they have grown - I was surprised when I did this how much difference there was within a small area - almost by street ! Good luck with everything Emma
  2. Good idea Dino think I’ll do similar as just about to enter woodchip hell - my new place even has sellotape holding the plaster onto the walls!
  3. Hi Sion thanks for the link, it’s fantastic - really useful to get ballparks and ensure I’m not being ripped off! Thank you Emma
  4. Hi read your post with interest, I’m in a similar predicament! Did you make a decision? Tempting to get your stamp duty back! Emma
  5. Amazing progress Darren, been following your journey and impressed with your resilience and focus!
  6. Sounds a bit high - but not far off what I have been quoted c20% plus vat, great incentive to do yourself. Or find someone local to manage for a cheaper fee direct ? When I lived in Brighton a couple of local guys did a great job doing changeovers and owner managed website Lettings herself?
  7. ha ha I hope not! I am real btw - it’s my forum name, never doubted others without a pic either? Going to put my co logo there when it’s designed. Just bouncing some ideas in case useful stuff comes up - not an expert
  8. There’s a view about city centre living being on the rise. Personally I don’t like leasehold so would go great barr. You might get one for 160k, would not go as far as kingstanding- stick around Old Oscott area as far up to greenholm school in my view - but been a while since I lived in Brum. That said the flats in Andrew court up by greenholm seem to do quite well too. Let us know how you get on!!
  9. Become a sourcer for investors ? not sure how much you would need to add to a deal to be viable if freely available on right move. If you have experience you might be able to secure peer to peer lending or a jv? Def track them to see how much the developer that did buy it flipped it for - painful to track but all helps the knowledge bank !
  10. Hi Flo I started looking a year before buying - I didn’t tell them I had the money or not, just said I was taking my time finding the right property and emphasised fact I was chain free. I got to know the junior Saturday guy doing the viewings and he told me loads about the area and also properties coming onto the market. I always gave feedback so they could get an idea of what I wanted and think of me in advance. And I called up pretty much weekly to ask if anything was coming into the market. One agent seemed to earmark one or two people per property to push with the buyer. I looked at about 15 properties before offering. And to clinch the deal I agreed to use their solicitor! As you have limited viewing time you might have to compromise a little to nail one ! Especially Birmingham I think is rocketing right now! I heard coleshill is also rising not sure if that might be a bit less competitive? Good luck!
  11. I’m def not an expert but from reading on the hub seems wise to keep a really healthy cash buffer! If you can cover mortgage payments it buys you time to do a couple of emergency discounted sales if the market crashed ... and totally agree diversify ! And stress test your interest costs vs outgoings at different levels to know where your risk point is? , great problem to have though!
  12. I was in a similar position and after a couple of visits and losing out on several properties I realised most sold before they even got on Rightmove. On my final visit I saw two properties where I think they did almost a preview for investors before they went on the market. I realised building a relationship with the agents is critical in a hot market and being super organised with mortgage in principle/proof of cash etc. The other option is offering on properties that come back to market after a failed sale - see what You can at a weekend and keep a spreadsheet and keep hounding the agent to show you the property, it can pay off! Good luck with the search.
  13. You probably already bought but just in case - I recently saw a refurb done in matt light grey shaker style with faux white marble worktops and few white metro styles - looked amazing even though relatively cheap materials. Think units from Howden’s, who I don’t rate personally but you could shop around.
  14. Hi sorry that happened to your deal but great focus to not get carried away when it doesn’t stack up! I’ve not heard back from my sh*te solicitors (recommended by the estate agent ) yet - I’m not sure what I will do as this is a more emotional purchase as our family home but as you point out the value would drop - however I’ve had to fight off investors to get this property so will keep you posted when I find out! Good luck with your next deal - thanks for sharing your situation it really helps to hear other opinions and decisions Emma
  15. It depends on what you intend to do with the money and the deals out there so a good whole of market broker could def help. As Darren says good idea to crunch some numbers and run a few scenarios. If we are in a wobble before a growth spurt in the market keeping your asset but releasing equity now for the sake of 5-8k penalty fees might be worth it. If you set up a limited co and loan the money personally to it I think you can charge interest back on the loan too as corporate tax free outgoings? I’m not an accountant so def check that! Maybe use it to flip and when you hit first 8k net profit put that in to help pay off your own mortgage to cover those fees you incurred - if it helps the decision. It means from then on you are generating wealth!
  • Create New...