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pauldavidthomas

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About pauldavidthomas

  • Rank
    Established member

Profile Information

  • Location
    Fordingbridge, Hampshire
  • Areas I invest in
    Winchester, Eastleigh, Dorchester
  • Property investment interests
    Most aspects, but I do tend to like to purchase horrible places (at the right price) and getting in and refurbishing them.
  • My skills
    Building, Design, Plumbing, Carpentry, Finance...
  • My goals
    To have a decent income without working too hard. Problem is... I find it hard to not work !
  • Interests outside property
    Photography, Dogs, Walking, Travel

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  1. Well, from the picture of the kitchen, I can't see any issue. Equally, a flat roof should not be an issue. Well, unless it's totally buggered, but then that could just be a with hold of part funds until issue fixed. You need to see the details of the valuation report and question it. It could be something that might not be as obvious to the eye.
  2. Diego, To aid your education, I would not look at someone else's spreadsheet. I would spend the time and do your own, you will learn so much more.
  3. The only lease properties I have are 900 odd years. These are terrace properties owned in Hampshire. I didn't even blink on those. I am however currently buying the freeholds to save issues when it comes to doing extensions ( adding value ) as some companies buy the freehold and start charging fee's if you want to do 'things' to property. You don't say the area you are buying, but at such a low number if years ... London ?? Look at it another way, you'll be dead before it goes back to the freeholder. However, anything below 50 years I'd be concerned about it, mainly due to getting a mortgage on them.
  4. William... Ok, looking at this a different way... Do the first house. Move into it. Then the second, sell the first move into the second. Keep doing this. All the proceeds are CGT free, you will have a shit life for a while, but you will end up with the cash you wished you had now for your next project. I had a nice house in Winchester. Did this with 3 houses and now have a nice house else where, no mortgage and a healthy outlook ... Ok, also learned a lot of building skills to boot, quit my job and went in to construction, but it is good fun and I get to use lots of man tools ! That sounds wrong !
  5. I do my own tenancies and don't charge fee's, it's a part of doing business. If I need to, increase the rent. Some the fee's agents had charged are a joke and really they have brought this on themselves... IMHO !
  6. Cut down ALL of your living costs and special treats ( you know take aways, holidays ect ). Work more hours, even if for a second job to increase your income - perhaps in a letting agent or estate agent on weekends - no one likes working weekends... Could also offer a nice sourcing possibility, quite a few landlords letting houses are keen on selling...
  7. I'd go with Richard's option. The only potential downside is that most residential mortgages are repayment, which effects your cash flow. However, on the plus side, as you can rent the rooms under the government 'rent a room' scheme you can earn aprox £7,500 tax free - which is always nice. Also keeps your living costs low as all bills split 4 ways.
  8. Observe the area you want to buy in, get to understand YOURSELF what the market rate is for what you want. Only then can you go to sourcing agents and determine if they are giving you value for money. Don't blindly trust people.
  9. Letting agent / Estate Agent or Labouring for a builder or skilled work if you have the skills ( or can gain them ).
  10. If you mean extra 'Capital Value', it does not necessarily correspond to more cashflow. A house will typically have a ceiling rental value in an area. So, by adding a loft conversion £35k you're perhaps only going to get another £100 pcm from a 'family'. However, by changing it's use to a HMO, and as such adding two more rooms, then you will / should be able to have a considerable increase in income.
  11. Daniel, I would be less worried about reading the meters and more about gas leaks / air flow / safety. I personally would not like such a situation. I would get a quote for moving them. Not sure what the Building Regs are about having a GAS meter in a habitable room.
  12. This might not help you, esp. as I'm a developer. But I would never buy a 'new build' I always buy old housing stock ( 1900's ) as it's just built correctly. They have been standing that long for a reason. Ok, they might need a lick of paint ( and some )....
  13. Money is currently dirt cheap. If you want to compensate for rises, you need different ways of using your property. Perhaps add an extension to increase capital value, a different letting strategy HMO / Serviced Apps. They require more work, but give more funding. Letting out parking spaces / garage space. So, their are other ways of increasing income from the space property. I've had 15% mortgage and I moved out and let the house out to pay for the high interest rate, it's the way I got into this, so, in a way it did me a lot of good. Over all I don't like too much gearing. Why stress with the risk.
  14. I've always been in it for capital growth, well... That was initially... Now 20 years on I'm only interested in income. But, as prices have gone up and rents have... My income has come... Over time your requirements might change. The main thing is, just crack on and do it otherwise you will find the years pass.
  15. I agree with Dennis.... I'm old school... Equally, the place I did for myself, the walls are so thick wifi isn't great and I like hi speed to my TV... So, if I were doing wireless points. Find a wifi repeater that you can wall mount. either :- https://www.screwfix.com/p/appleby-dual-35mm-dry-lining-box/22772 or https://www.screwfix.com/p/appleby-galvanised-steel-dual-35mm/48234 Depending upon wall type. Run power to one side, then data x 2 to the other... Just incase one gets damaged on install... For best wifi distribution, best at a hi point. People put them behind sofas and that jusd isn't the best place.
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