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Adam GC

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  1. Can anyone recommend an affordable and competent plumber in the Leeds area? I'm looking for quotes for having a hot water cylinder replaced. Many thanks!
  2. Thanks @Stuart Phillips and @Vineet Gupta I don't know much about Rent-to-Rent, it was just a suggestion made to me. Good to know that one's a non-starter before I start digging into it! Yep, the supply issues and lack of viable development projects (particularly for a small-scale developer with the burden of purchasing with finance) are the major issues at the moment and I can't see things settling back down to stability for a while yet given the political and economic climate, which is why I'm starting to think about alternatives to development until it does. It's certainly my hope
  3. So, this is a bit of an odd one! I’m looking for thoughts, advice and ideas for changing my career direction within property. Originally I came into the property field in 2019 with the intention of slowly building a career as a property developer – buying, renovating and letting properties. I’m creative, resourceful, good at wielding tools and excellent at both research & project management. I assisted family with a few property projects in the past and loved it. Becoming a small-scale developer seemed like a perfect fit and had been something I’d been eager to do for years. Unf
  4. Rather odd question, so I'm not sure which section this should be posted under. Essentially, I'm wondering about the feasibility (in principle or in practice) of purchasing the land beneath a flying freehold. I've had a hunt and cannot find any examples of this on the web. There is a terraced property of interest to me that has a shared alleyway running through the terrace. The alley way runs between the two neighboring houses on the ground floor, and the two houses each own half of the space above it. I'm wondering whether it is possible from a planning/legal st
  5. The latest announcements at present suggest that the Corona virus is likely to become widespread in the UK, and in a worst case scenario could affect 80% of the population, potentially putting a 5th of the UK workforce out of action at its peak. I wondered what people's thoughts were regarding the short-term / long-term effects on the property market? There seems to be no clear consensus forming in the property media at the moment (perhaps because the the potential scale has only just become apparent, and there are so many variables and permutations that it is difficult for pundits to do
  6. Hey Matt, Yes, there are many such app available. I'm currently weighing up Landlord Vision andRentCentral. The latter might be spot on for you. There are also lots of alternatives if you google 'property management apps' Best, Tass
  7. Hey Dennis, Indeed, it would be a lot of work, but I have a bit of a history for creating elaborate excel spreadsheets I've done a bit more poking around online and may have found two web-based services that might fit the bill though Landlord Vision seems to be able to do what I'm after RentCentral also looks like it might be worth a look They both have free trials so I'll test them out and report back. If anyone has greater experience with them, let me know!
  8. Hey Can anyone recommend a software program that will allow me to me to measure how my business and property portfolio is doing? I'd really like it to measure both things in one program (general business performance, and portfolio performance) and it's vital that it will allow me to forecast/test the effect that potential purchases would have. I'd love to - Be able to test what happens to my business cashflow if I buy/remortgage specific properties at a specific points in the year. Compare the performance of two possible purchases to see which is likely to perform
  9. Hey all, Can anyone clarify how Yield, Equity & ROI should be calculated when following a Buy, Refurbish, Refinance strategy? Most online resources only discuss these in terms of purchasing a property and letting it out / selling it, rather than refinancing it. I want to make sure my metrics are comparable with everyone else's! Theoretical BRR Scenario: I buy a property for £120k using a bridging loan and a deposit of £48k I spend 6 months renovating it, with the finance costs & renovation totaling £25k I then refinance onto a BTL mortgage with the property valued by
  10. Hi Jordan, I'm also looking at loaning money to my own company in the form of a debenture as I understand that it offers tax advantages (you can withdraw up to your loan amount tax free) and insolvency protection (you get second charge over the property - i.e. you get paid back after the mortgage company, but before other creditors). I wondered where you got to with this? This is the info I'm working from: https://www.purnells.co.uk/limited-company/administrative-receivers/what-is-a-debenture Best, Tass
  11. Hi, I wondered if anyone could tell me whether is is acceptable to let a property whilst using bridge finance? I'm intending to use BF to renovate a property and remortgage onto a BTL mortgage once development is complete. I'm aware that you must wait 6 months before remortgaging and I'm wondering, if I complete renovations ahead of schedule, rather than having the property vacant is it possible to get let the property before this point, while still on BF? Cheers!
  12. Thanks Dino, useful info I was aware I'd need bridging finance initially (I labeled it incorrectly) and built the costs in, but yes I'd forgotten the net rent! Having scribbled on the back of a napkin for an evening, I'm coming to the conclusion that a mix of flips and BRR would likely keep me solvent, although building a portfolio at a slower rate. Off to do the sums properly now. I have a gut reluctant to bring in JV finance, but perhaps I need to take a more objective viewpoint...
  13. Hey all, I'm in the process of planning a new venture in property development. Over the past few months I've visited properties, built myself a comprehensive budgeting spreadsheet (that factors in all purchase, finance, holding and remortgaging costs), and gathered enough data to be able to run a simulation of my intended BRR strategy. The result has been discouraging! It would appear that given my starting capital of £100k, I'll run out of funds by my third purchase. Would an experienced developer sanity-check my simulation and confirm this? If this is indeed true, what would you su
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