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larry wildman

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About larry wildman

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  1. Interesting dilemma. Just regarding “ help me get the 1600 mark income”. I would be fascinated to see your figures as purchasing three properties as a BTL would possibly give a cash flow of £250-£325 per property and as I’m sure you are aware as you have other BTL you need a contingency pot for boilers, maintenance etc. At your age I would go for the BRRR strategy but it is more risky as you aware of than vanilla BTL. Good luck and keep in contact with your progress by connecting on Insta @jaysar_property
  2. Hi hope all are well. Was on the Baker St online meet-up last night and this was addressed. C19 is a medical problem not a banking/financial problem. In 2007/8 the banks globally were irresponsibly lending to those who didn’t have two pennies to rub together thus leading to financial crash. Before C19 the housing market in the UK was recovering due to the Boris bounce. I agree with those “experts” last night that nothing has changed and when we come out of this madness everything will return to normal. What I wouldn’t do is refinance your residential property. Regards
  3. I will be spending a whole day with two different sourcing companies in two different parts of the country not local to us. We could do the journey in one day but will probably drive there the night before. Company One is putting us up overnight for free (we initially pay they refund when we check in). This company has multiple agents working for them. The whole day is free. Company Two is a one man company and is charging a fee which will be refunded from the sourcing fee if we go ahead with a purchase. Both companies will be showing us around the area where best to invest wh
  4. Paul thanks a lot for the recommendation will definitely follow this up after the bank holiday. Dennis you need to chill out. The reason why I initially posted this was because I suspect my letting agent manager is taking a back hander ie getting workman for £x and charging me £y. We already pay him nearly 12% for basically collecting the rent as tenants have been in place for years. As I don’t live locally I was asking what was the going rate in Norwich.
  5. I was approached by a sourcing company who deal mainly in Blackpool. Looks like Blackpool is undergoing major development to try and rid of its downmarket stag/hen image. The transport links from London Manchester and Liverpool have greatly improved. Any thoughts of investing here?
  6. Hi We have our properties set up in a limited company. One of our properties in Norwich is a three bedroom end of terrace house. I have asked our letting agent manager for a quote to replace all the windows and front and back doors. The first quote was for £2900 without an invoice so cash in hands. Obviously for tax reasons we need a receipt so he gave a quote for £4000 with a receipt. I am based in London. First question is the £4K for Norwich reasonable? Feels expensive. Also I would really appreciate any recommendations of any firms ( not major firms like Anglia etc) who are loca
  7. Price of 3 bed property I've seen at the weekend is £200k oieo. Previous offers of £190k have been rejected. Last offer of just over £200k fell through. Previous sold property at guide price £205-215k went for £200k in April but was a 4 bed property. I'm thinking to offer £190k with a deposit 10% guaranteed non returnable if they take it off the market. How safe is the 10% strategy ie if it falls through due to the vendors changing their mind how difficult would it be to get the deposit back? The vendors are planning to relocate to Spain. Thanks
  8. Thanks for the reply. We did pay the stamp duty but as regards to it being a sale or transfer no money was exchanged by us or my parent for the property.
  9. No they are not set up as a ltd. The £5k is for stamp duty. This govt doesn’t encourage individuals to better themselves
  10. My parents are transferring a property they own and use as a BTL to my limited company which I set up with the sole intention of acquiring other properties. The purchase price is £150k and I have been informed by Hmrc that a fee of £5k needs to be paid by either my parents or me to transfer this property. Is there anyway around this.
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