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The EP Investor

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About The EP Investor

  • Rank
    Established member

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  • Website URL
    http://www.buytoletstrategy.com

Profile Information

  • Location
    Cambridge
  • Property investment interests
    I am interested in all forms of property investment, however mostly I like the simple straight forward boring property investments. Standard 2/3 bed Victorian terraces bought at auction, renovated and let out on a capital repayment basis using the profits to fund further acquisition. Not the most exciting, but long term as good an idea as I have come up with so far!
    Always open to suggestions though.
  • My skills
    I am a RICS Chartered Building Surveyor and was previously qualified as a financial adviser.
    I have worked on major construction projects for the Ministry of Defence and have been involved in the disposal and structuring of deals for the Homes and Communities Agency, specialising in S.106 and affordable housing provision.
    Involved in a number of property related businesses offering clients assistance with building their own portfolio.
  • My goals
    To grow my portfolio in the short / medium term.
    To match my salary through passive income by 35.
    To enjoy mini-retirements of 1 - 6 months between now and 45.
    To hold unencumbered assets providing sufficient income for me and my family indefinitely.
  • Interests outside property
    I am a bit of a fitness enthusiast; rower, runner, weight lifter.
    When I'm not spending time either working or working out, I can usually be found on a motorbike or a snowboard.

Recent Profile Visitors

2,378 profile views
  1. Reason you're seeing so many 'Available Now' may be because if you're renting out say a 6 bed HMO there's a good chance you'll always be only a few weeks / months away from needing a new tenant. So a lot of Landlords keep there properties on the market. Ever noticed some of the adverts will say 'Has been on the market for 2839 days'? That's those guys. R2R sounds great on paper, but the reality is very different. Finding Landlords willing to let you do this is going to be your biggest hurdle. The actual management of the HMO is pretty straight forward. But given the changes that h
  2. As Tim says, this is now a national debate thing, so there's a good chance most of the developers will back down from this at some point soon. And a fairly good chance that they will reverse the terms of existing leases with these clauses in them. It's a bit of a punt if you haven't bought yet, but might make Becky feel a bit better at least? :-) Most of the national house builders are now setting aside heft chunks of cash to pay people compensation for it. So that's usually a good sign. Personally I'd go back to the developer and renegotiate the terms. Link any incre
  3. Ahoy ahoy Rebecca, Start with a blank slate and consider your options. It's not usually sensible to actually do, but I periodically look at my entire portfolio and think 'If I was starting again, would I buy these?' It may be an option to liquidate everything and start again. 5-6% isn't the greatest yield in the world, but it depends if cash flow is your main priority. Nottingham should give you a better yield than that with a bit of digging around. Sure people like Jonathan can help point you in the right direction for stuff like that. Regarding the refin
  4. Matthew, I have to agree with Richard (and not just cos we work together), but one thing I would make comment on is the overly biased answers you'll get posting on a property portal. With £1.2m you should in theory be able to become a full time investor and live off your investment income. The way you manage your money on this basis is very different than if you are working on something else and using the funds to grow. You need to look at the wider investment asset classes to get yourself a balanced portfolio. (Wow, that was a grown up sentence). I've sti
  5. Yeah just get your two solicitors on the case. It's basically a Memorandum of Sale you need in the first instance. Which as you say just has the basic details of what and who and how much. Then let the solicitors do their thing when they know who each other are. Sounds exciting though!
  6. Ahoy ahoy, Sounds like you've done really well so far, congrats! Wish I had been that smart when I was in my early 20's. I once sold a house to buy a car..... so, yeah. Anywho; 1. Nobody knows. Not sure what type of accountant you are, but you'll know all about valuation of companies and PE ratios and EPS and all that stuff. Is there a definitive formula that tells you exactly what companies are going to go up in value? (If so, let me know!). All you can hope for is a vague rule that allows you to see places as good value or poor value. But that's not to say a Fac
  7. Hello Laura! I think Mark Morris still runs the Manchester Meet Up, say hi from me. If you've got relatives involved in R2R I'm sure they can give you the actual facts then rather than the sales pitch that everyone else regurgitates. It's much harder to make work that it looks on paper! If you're looking for pure cashflow, then yeah the HMO strategy in Manchester (West / North Manchester maybe?) is probably not a bad place to start looking. If you're doing well with your Wedding decorations business though, never thought about vertical or horizontal integr
  8. Call a few people, check out Building Sheriff, Google the crap out of it. :-) Not sure where the property is, but I'd be budgeting something like; Carpets - £2k Kitchen - £3k Bathroom - £1.5k Decoration - £1k (assuming touch up rather than replaster or redecorate throughout) External - £1k (assuming 'tidy up' doesn't involve much repointing) Electrics - £2.5k (full rewire) It's very back of the envelope and entirely useless without seeing the property, but it's a ball park figure to use.
  9. Sourcers are great (that's a lie, I'm just being polite), but you'll get a lot more out of the process if you do it yourself. As has been said already, there are deals on the market that you can pick up and that will rent out well or can be flipped for a profit. Not the kind of deal that people will write songs about, but one you can make a profit on. And in my experience you can pick up a handful of deals off Rightmove in the time it takes to find a 'great BMV deal'. If you don't want to do anything though, you can outsource a lot. Even the property view
  10. Very much depends on what you want your property to do. Maximise profit or make your life easier? You'll make more money renting privately, but you'll have an easier go of it for 3 or 5 years while the council have it. Doesn't mean you will have a great house at the end of the term though.... sometimes they aren't the best at looking after stuff that isn't their own. There are a few inner London councils that are trying to ship tenants out to places like Peterborough and Northampton, so could be worth seeing if they would want the properties.
  11. Stacy, There is no right or wrong answer, so it all comes down to your attitude to risk. When things are going well, everyone says leverage yourself up to the hilt and allow inflation to reduce the real value of the mortgage debt you have. When things go badly, a lot of those people go bankrupt. I work with investors who specifically want a mortgage free property for themselves, and then work on getting a portfolio separately. In my personal opinion, your home isn't something to be risked - but each to their own. I know loads of people who have refinanced
  12. Listen to me. The first thing you should do is not listen to anyone. #AdviceInception Everyone has an opinion, and they usually mean well when giving them. All that really matters if figuring out what you want, when you want it, and what you're willing to give up to get it. One of the issues I find when people in property give people out of property advice, is generally we're working full time in property. It's easy for me to say you should use that £30k + bridging loan to buy a property, add value, sell it, use the profit to buy another one, then kee
  13. You can save loads doing as Harriet says. I had a builder who loved playing on Craigslist and Gumtree and eBay and had a stock of kitchen parts in his garage. Saves thousands! Downside is it's boring and takes up loads of time. I've usually gone for minimal effort - change the cupboard handles and repaint them. Or whole hog - replace the kitchen. I've found that replacing doors and work surfaces usually ends up damaging the carcasses and the doors never hang exactly right, and you end up having to replace everything in a couple of years anyway.
  14. I'd put the downstairs w/c under the stairs and against the kitchen wall. The blocking up of the wall between dining and lounge is no big deal. Stud wall it and you're good. Removing the chimney - make sure you remove it in the upstairs room as well and then the loft too to avoid structural instability. Opening up the kitchen / dining - that wall could be a spine wall and load bearing. Hard to say from a floorplan, but I usually go on the back of if it runs in a straight line across the property and is doubled up above it in the same line... it's probably
  15. Blank piece of paper and start again. In theory, if you sell up, what would you have available for your new home and your investments? Now, what would you do with that if you were starting from scratch with the money? That should be how you look at investments. We all suffer from a sunk cost bias, so once we've bought something we don't want to sell it. But in reality this might be the best thing to do. I disagree with the 'never sell' concept. I rarely sell, but I regularly review whether I would own what I own if I were starting again. There
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