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About cathie

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  1. I bought one of Rob Dix' books. Can I claim research books like this as a business expense? What about the tickets for Property Hub networking events. These are business expenses, right? What categories would you put them under?
  2. 3 months later.... a couple of these have been removed, a couple have reduced their prices and the cheapest is sold STC
  3. I'm in a similar situation and I'm quite surprised that the estate agents want the whole survey and to also to know the mortgage valuation. I would have thought these are confidential and that I should be able to negotiate without divulging these amounts. I sent them a screen shot of the homebuyer valuation and copied and pasted my points of concern from the report rather than sending them the whole report.
  4. hello, I'm also a newbie and also looking to buy a ready to let property (in the north while living in London), because I don't have a clue how to refurbish one (although it is a skill I would like to learn later on). As far as I've gathered (but I may be wrong), the key reason to buy and refurbish is to add value in order to refinance at some point and get out the money that you put in so that you can invest that money again. I think it's important to buy properties that you can add value to in some way. That said, I'm planning to purchase at least two that don't need anything done to them and that don't have any value that can be added because they have good rental yields and because my aim at this point is to get income and to learn to be a landlord. I've also found that properties that need refurbishing are not much cheaper than properties in good condition and refurbs seem to be selling at crazy prices at auctions as if investors are going a bit mad...
  5. I'm looking in Liverpool for letting agents and finding it really difficult. Just when I think I've found one that sounds great, they don't return my phone calls! The minimum seems to be 12% plus VAT. I'm also disappointed with Property Hub lettings who also have not returned my email enquiries!
  6. I asked three different accountants for advice on how to structure my property purchases. Two of them gave me free advice over the phone which was really helpful, the third was a property specialist who charged me £300 but didn't tell me anything I hadn't already been able to learn for free!
  7. Great question. I hope somebody answers it... Or did you find the answer?
  8. I've finally got a copy of the tenancy agreement from my solicitor (2 months after offer accepted!) and it appears that the estate agent is the tenant!!! So now of course I want to give notice - I don't want this estate agent as my tenant. If they had told me this two months ago I would have given them notice then. Has anybody encountered this before - the estate agent has entered a tenancy agreement with the landlord and uses this to sub-let the property?
  9. This property actually is in a renovated condition, but the problems are with damp, the roof and brick work. It seems really cheeky that the estate agents demand to know the valuation prices. Do they always do this? Shouldn't this be confidential information? The mortgage valuation has come back at the same as the purchase price, but the homebuyer survey was less that that. The estate agent says that it did value up because the mortgage valuation is the same as purchase price. I'll see what happens after I get quotes for work.
  10. Hi Derek Thanks for your reply. Is it normal that the estate agent wants to see the report? I've just paid lots of money for this report and the valuation, I really don't want to give it to the estate agent and vendor. If I pull out, they will have a survey they didn't pay for. In addition, I would like to negotiate the price down to £50,000. But if they see the valuation, surely they won't take less than £55,000. The valuation is the current state of the property, and it was a homebuyer's report.
  11. Hi everyone, I'm a first time buyer and I've just got a survey back on a property I've had an offer accepted on. My offer was £60,250, the house values at £55,000 and I estimate the repairs might cost £10,000. I certainly don't want to pay more for it than £55 and am quite disappointed I over offered! I've just phoned the estate agents and told them that I think repairs would cost £10,000. They want to see a copy of the report including the valuation. I really don't want to give them a full copy of the report and the valuation. Do I have to do this? Is there another way to do this? Surely if the valuation is £55,000 the vendor won't want to go any lower than this. Does anyone have any tips or advice? Also, I've tried searching for podcasts on this topic - there must be some, but I haven't found any. If anyone has the links to Property Hub teaching on this topic, please let me know! Thanks!
  12. Thanks Paul, that's really helpful.
  13. Great question. ...Anybody know the answer?
  14. I've had an offer accepted on a property that has a tenant in it already. We haven't exchanged contracts yet, but the estate agent keeps asking me if I want to keep the tenant or not. I don't know - this is my first buy to let property, and I have no idea if the tenant is a good tenant or not. The agent selling the property also manages it so I have asked them if they could give me more information on the tenant such as a report on her payments but they can't because of privacy laws. I asked for the vendor's details so I could ask the vendor if they recommended the tenant but the agent didn't reply (and I found out later this is against privacy laws as well). I'm trying to find a letting agency to use to manage the property (I don't want to use this agency that is currently managing it). My plan was to find a good letting agency to use, and when I exchange contracts to get the letting agency to contact the current tenant and do credit checks etc on her and if she passes then give her a new tenancy agreement. But the estate agents keep asking me now whether they should serve her notice or not. If I was managing it on my own, how would I do my own checks on her to make sure she passes seeing I'm not allowed to get this information? Should I just tell them to serve the tenant notice and buy it with vacant possession? It all seems a bit strange - surely only the vendor should be able to give the tenant notice anyway.