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rob milner

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About rob milner

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  1. Thanks Dino. Any idea whether this will “link” mine and my business partners credit scores? I know that if you have a mortgage with someone then your credit scores are linked. Wonder if this could cause some issues. Thanks. Rob
  2. Hi all, Myself and a friend are setting up a ltd co in order to buy residential BTL’s. We have been told that because the ltd co is newly incorporated (and doesn’t have 2yrs accounts) we will need to personally guarantee the mortgage. This would normally not be a problem but both of us have young families and will likely want to move to bigger properties in a personal capacity at some point in the future. Having a personal guarantee against a BTL could affect our likelihood of getting a personal mortgage. Has anyone found any way to overcome this (other than pay cash for the B
  3. Hi OP. Don’t take this the wrong way as it’s not meant to sound condescending. I’m merely interested in your strategy/goals and how feasible they are. Correct me if I’m wrong but you want to achieve £150k per annum gross income within 6 years? Assuming a very solid yield of 10% your portfolio needs to be worth £1.5M in 6 years. Which is 750% growth from your current 200k. Even with leveraging at 25% you could only currently own £800k worth of properties. I’ll be impressed if you can double all your properties values within 6 years. Feel free to put me right if I’ve got the wr
  4. Stuart thank you very much that’s confirmed what we initially thought. I’ll update this thread in due course once we have spoken to accountants and mortgage advisors.
  5. Morning all, Myself and a friend are 99% sure we are going to get into flipping/renting properties. Background info Both in our early 30’s. Neither of us want an immediate income stream. Both see this as a long term strategy for at least 20 years to supplement our pensions. We both have our own limited companies which are doing well. Both earn in excess of £100k per year (hence not needing an immediate income stream). Plan My friend has £37k cash to invest (plus a bit more as a buffer). I currently have the same in my LTD Co. £75k between us We plan to d
  6. I make £300 a month profit before any repairs or tax which is pitiful and barely worth the effort. That being said it was just over 5% return after all repairs last year which is better than the stock market is treating me.
  7. Without sounding like I don’t give a toss about my tenants, how do any of you landlords make a profit if you go round for every little thing. Do you guys and girls not work full time as well as being a landlord? I genuinely dont mind going round once or twice a year or even arranging for electricians and plumbers etc. But I don’t want to be spending every 5 mins round at the house. Even harder if you’ve got 10+ properties, what do you do then? Or properties at the other end of the country? Genuine questions by the way. I’m considering buying more properties but trying
  8. If she was paying hotel prices then I’d be happy to change a lightbulb. When I used to rent I wouldn’t have dreamed of asking for such trivial things from my landlord.
  9. Cheers for the advice Craig. Will get someone out to look at it.
  10. Hi all, just after a bit of clarification regarding a message I’ve received from my tenant regarding the extractor fans in the bathrooms. Is this my responsibility to fix? Or the tenants? Below is the message I’ve received from tenant. I’d have thought that if it was an electrical issue then I would have to fix but if it just needs a clean then it’s tenants responsibility. Happy to bow to the superior knowledge on the forum however ;-) If this is my responsibility then I’m more than happy to get someone out to rectify at my expense. Message from tenant -
  11. I’ve never heard of the 6 month rule - could one of you explain what it is or point me to a link please? Thanks.
  12. Ah right thanks. I wasn’t aware of this. Cheers.
  13. Thanks Derek, yes it will be mortgaged. What are guarantor costs?
  14. Thanks very much Derek & Debbie. I’m going to start the ball rolling; so that I know how much to loan from company 1 to company 2, could anyone give me a breakdown of potential costs that would be incurred by company 2 purchasing a house that is currently in my name? im thinking the following; - CGT for me personally (won’t apply though) - Solicitors costs for both parties - Stamp duty for the Ltd company Any other costs I should factor in?
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