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emma jayne

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About emma jayne

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  1. 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
  2. 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!!
  3. 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 !
  4. 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!
  5. 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!
  6. 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.
  7. 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.
  8. 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
  9. 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!
  10. I am in no way an expert but sounds like he is in some kind of trouble and I would not contemplate personally releasing money before completion. Would ask your solicitor? If he needs that much can you speed up the process instead or exchange and complete on same day? Just a thought, E
  11. Hi Darren Thanks for your insight! I think you nailed it - depends on whether we will ever move back or not! Got a lot of thinking to do on that , I don’t think we will but do need to be sure! Will keep you posted, and keep following you - your journey is amazing! Emma
  12. Hi Deborah i think I’m in the same position as you - just seen the title deeds and the garden doesn’t look included in the boundaries,I’m debating whether to reduce offer or pull out! Will let you know if my solicitor has any wisdom on it!
  13. Hi Darren Thanks for such a thorough answer! I’m in such a similar position! Just getting a residential on house near Halifax and moving up north. Contracting to pay the bills at the mo. In a dilemma as to whether to let or sell the house near London so have pot of money to flip as struggling to get anything more than 15k out of it from remortgage! Equity release is a bugger! Really motivated by your story! Makes me tempted to sell up and flip though know it is very competitive! Do you have any regrets yourself? Emma
  14. Debating this myself right now ... thinking of 2 flips at a time to learn the ropes, but tempted with 3 x 3 bed btl in birmingham/greater Manchester for the capital gains rather than tie it all up in flips! Heart wants to flip now and quit the day job, head wants the long term capital gains, feels like lots of us can’t wait to quit the job ! Need to get clear on this - going to listen again to the pod that talked about different investor profiles !
  15. Hi Silvia - have you considered linking with a local source/proj manager up north to manage for you? Personally I am relocating up north to do it myself, but not in your area. Think the propertyhub linked bridging co is lendswift kind regards emma
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