Jump to content

alja nosm

Established Member
  • Content Count

    64
  • Joined

  • Last visited

About alja nosm

  • Rank
    Established member

Recent Profile Visitors

495 profile views
  1. Mine was £1300. And very economical as it modulated the power consumption so if its 12kw it wont always run at 12kw.
  2. Thought of having an electric boiler as an alternative? I too was deciding on whether it was viable to put gas into a property that was previously storage heater and immersion heater and went down the electric boiler route.
  3. Patience, sacrifice and hard work. They are the main things. You can have every bit of experience in all aspects but if you lack these three things you won't achieve what you want. I'd look at going down a trade/building route or a surveying route.
  4. It's hard to tell without more background on the area etc. To me at first glance I would- -Add driveway -keep kitchen and lounge wall. - remove w/c to allow for a larger kitchen diner setup. - keep under stairs cupboard. - loft conversion if theres demand and works with bedroom layouts on 1st floor. Bare in mind that the property is hip-to-gable so wont be much room up there and you'll find a fair few struts. You'll probably need to build a large dormer or build up the gable end. Tbh I'd keep it a 3 bed and keep the build simple as possible. What was
  5. I would do the 2k over the first 12 months @£166.66pm, then return the 20k investment pot at the end of 12 months.
  6. Have you thought about joint ventures etc as with a 25-30k pot you'll probably find it hard to buy property in your area. You could do a few of those to gain more experience and increase your pot to then go on and do your own development fully? Whilst keeping your job and reduccing the risk greatly.
  7. As far as I can see it the competition is exactly the same as it was pre partial lockdown. They may not be motivated sellers, just proactive sellers. Knowing anyone interested in purchasing property will be spending their time during lockdown looking for it.
  8. How are you financing the company to buy property? You must have some serious cash to give up work full time so early?
  9. Agree with above. Dont think it stacks up for a flip. Also ask yourself do you want to invest £240k for 10-12% return on a flip? You could have 2 smaller flips with £240k and make over x3 that amount. Sometimes even if on paper theres a profit doesn't mean its worth it in my opinion. Looks like you've come to that conclusion yourself. No deal is often the best deal.
  10. Personally I think that route is not a good idea, in fact almost crazy. You'd be at your limit at every angle. Bridging, loans, credit cards, borrowing from friends and family. The amount of fees and interest I expect would wipe out almost all your savings buying at a 5-10% downturn. I dont think you would even get a btl mortgage based on how stretched you would be. If you had some decent cash and not borrowing from every angle you'd have a chance. ....Perhaps maybe go for a renovation that you can uplift the value. Contact a broker that can arrange a light refurbishment
  11. Is it a Buy-to-let or Buy-to-sell property. Remember until you've exchanged contracts your not legally obliged to pursue with the purchase. If it was a good deal then I would pursue for now. As theres plenty of time to pull out.
  12. Excess is only paid when you claim isn't it? You dont want to be making a subsidence claim on a property to flip. Has there been an insurance claim in the past?
×
×
  • Create New...