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About amariino

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  1. I bought in Norris Green in December. Yes, I've heard that about Croxteth too - in the Property Hub magazine it listed it as one of the places not to invest! Norris Green seems nice, with quiet streets with owner occupied homes who've lived there a long time and know the neighbours. I've noticed houses are about £10K cheaper in Croxteth, despite being just a few streets away and practically identical to the houses in Norris Green. That's good if you've got a car - it's a much better way to get around Liverpool. On foot and public transport it's not so easy to get 5 viewings close to each other in one day!
  2. Hi, I have one buy to let in L11, and it rented really fast, no problems so far. I'm looking to buy more in Liverpool, but I haven't been since the lockdown. I'm curious to know, did you travel up by train? And did you stay in a hotel - are they open again?
  3. Hello Those of you who are holding cash in your bank accounts ready for some bargains as we enter a depression - have you considered the possibility of the banks failing and how would you handle that? When the banks fail, they can take the depositors money - that is, they can rob us and empty our accounts. We are covered in the UK up to £85,000 by the Financial Services Compensation Scheme (https://www.fscs.org.uk/). But from what I've been reading from other sources, even with the FSCS our money is still at risk in the bank.
  4. Hi Josh Good to hear you've got one great deal, and working on another one. That's a great question, hopefully it'll generate lots of good discussion here! I heard a quote from an entrepreneur yesterday on his general philosophy (pre the virus as well as now) that I think is brilliant. It was: "prepare for the worst possible scenario, hope for the best."
  5. I've been using a Property Comparison Spreadsheet that I got somewhere on Property Hub - one of the Rob's own spreadsheets that they shared. I've been trying to find it to download it again so that I have a blank one as a template, but I can't find it anywhere. Can anybody help me to find it? I'm copying and pasting the title row of it below, this is what it looks like: Address Link Purchase price Rob Dix: Calculated as 1/4 of purchase price - you can adjust this calculationDeposit Rob Dix: All the costs of buying the property and getting it let. You might want to include: Legal fees and searches Broker fee Stamp duty Refurb costs Refurb + Fees + Furnishings Cash invested Lettable units Rob Dix: Should exclude bills, because bills aren't accoutned for elsewhere on this spreadsheet.Monthly rent per unit Rob Dix: Calculated as rent per room x number of rooms. Override by typing in your own figure if you're doing a single letMonthly rent Annual income Gross yield Mortgage % Rob Dix: If your agent charges VAT, add this to the percentage they charge you. E.g. 10% + VAT = 20%Management % Repairs contingency % Service charge and ground rent (annual) Insurance (annual) Annual profit Monthly profit Net Yield Return on Cash Invested
  6. Thanks for your replies - that's really helpful.
  7. Thanks for your answers. That's really helpful.
  8. What kind of refurbishment increases the value of a house? I'm asking because I was going to buy a house that appeared to be in good condition and ready to be moved into. I was purchasing it for rental yield - to put tenants into immediately. Then I found out that the house has a damp problem. It needs sub-floor installation installed, a French drain, it probably has rotten timber under the carpets and tiled areas and the walls need membrane to be inserted into them and replastering and redecorating. The nice kitchen units will probably have to be pulled out to do work on the walls. I guess this work would take months and cost £5,000+, right? I'm also guessing that having this work done is not going to increase the value of the house, is this right?
  9. The landlord licensing scheme is ending in March 2020. I'm hoping to get tenants into 2 houses before then. What should I do about the landlord licence? Is seems very annoying to have to get one for just a few weeks or so. What are the potential dangers if I don't get one?
  10. What would you do if you have a contract, with a start and finish date, but the contractors go several weeks over the date they said they would finish (they said it would take 9 days). Is there anything you could put into the contract to discourage this - such as reduction in payment if they go over? Or perhaps bonus payment if they finish on time?
  11. Their office is in Manchester and my house is in Liverpool. I guess next time I should find an agent with an office near my house - then they could hold the keys and that might work. I could get contractors to pick the keys up from the agents. But the other thing is, the agents didn't want to have anything to do with the house until it was rental ready. They might not be happy to hold the keys for me. What are other people's experiences?
  12. I've been trying to buy lots at auction for a while. Some great properties come up, but the scary thing for me is not being able to find out as much information as I could if it's wasn't an auction property. For example, I don't want to pay for a survey when there is not a high chance I'm going to win the auction. I have paid for solicitors to look at legal packs, though. My current solicitor charges £150 (he is a trainee solicitor. The first time I asked him he did it for free - perhaps because he didn't realise he was supposed to charge!) One issue that came up from a legal pack was that there was no information on whether the current owner had paid the service charges up to date and if he hadn't then I would be liable for them. I decided not to bid on that one.
  13. I've tried looking for the same things. The hundreds of results on rightmove bring up student pods and studios, and it is quite hard work scrolling through page after page looking for a decent sized one bedroom apartment and removing all the results that are not what you're after.
  14. I would be interested in attending a networking event in Liverpool! Could you let us know the details - when is the next one?
  15. I live in the south and I've bought my first house in the north. Although I'm getting an agency to fully manage my property, I'm finding all kinds of challenges to being far away and I'm wondering what other peoples' experiences of this are. I have to actually go to the house to let workmen in to do the various jobs that need doing to get it ready (such as gas safety certificate, electrical condition report, getting a washing machine delivered and installed). Trusting the keys to my house to complete strangers is nervewracking. I envisage with my next purchase trying to avoid so many trips by posting keys to people to get access to do work. Is this what other people do when they buy from far away?