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thomasjr

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About thomasjr

  • Rank
    Established member

Profile Information

  • About me
    Grew up in a self employed household - As regards property
    Started out Converting a bleak space into a small flat Fair return + Turned a 30 sqm Sitting Room into a Great return.
    This system has been in place for 18 months
  • Property investment interests
    HM0 - Cash Flow Model - A Career hands on approach!
  • My skills
    Project Management - Marketing - Experience with Law
  • My goals
    Within 3 Years become established in the HM0 sector in the North West
  • Interests outside property
    Stock Market - All things Future - Electrification

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  1. Hi, Some advice would be greatly appreciated. My family & I are discussing estate planning between my Sibling & I. We have a fair piece of property that could be split up into two independent premises There is a HOUSE & a commercial premise. There is potential to modernize & we potentially have some capacity to put that modernization in Train. THE question, is there a real need to complicate things too much? Under the parameters of inheritance, the limit for two children (would suggest that we would be relatively safe from CGT on sale From what I understand the HOUS
  2. Hello fellow Enthusiasts, Quick question, My late Father in 2004 inherited a piece of property worth €400000 under the favorite nephew instrument from his uncle, but subject to a life interest in favour of my fathers business partner. Fast forward today my father has passed away, there is a deal currently being done as regards the life interest being lifted. My concerns are now my Mother moving the property in question into a LTD company will there be a major tax bill considering the property is now worth €170000 That valuation is excluding the life interest on the deeds
  3. Hey Fellow Investors Enthusiasts, Our family has a large commercial building in my Mothers sole name no liabilities, we have about 120 k to renovate. The area is a commuter area, in an demand area for rentals (Rep of Ireland) Intentions 5 year plan lets say, Convert portfolio into Ltd company Tax? Split the building into three identity's Portfolio 1. Start with One quality 5 bed HMO next 12 months Town House Portfolio 2. Add a 3 bed self contained + 2 one beds self contained 12 - 18 months Adjoining to the Town House separate entrance Portfolio 3. Larg
  4. I find myself in a scenario where I have a 3 story building (estimate 160sqm) in need of a major renovation in the North west of England.Intentions are to convert the building into a 4 bed 2 En suite 2 off suite Home, average finish, fully project mange the build myself Subcontract Etc. Starting with Inside• A complete strip out• Structural Tie rods to Tie the building together, I believe • Roof only 1 of 2 Upsides, it needs some strengthening with new timber 80% good repair • Complete wiring + storage heaters • Plumb the showers, sinks, sewers no central heating• Windows the other Upside, are
  5. I find myself in a scenario where I have a 3 story building (estimate 160sqm) in need of a major renovation in the North west of England.Intentions are to convert the building into a 4 bed 2 En suite 2 off suite Home, average finish, fully project mange the build myself Subcontract Etc. Starting with Inside• A complete strip out• Structural Tie rods to Tie the building together, I believe • Roof only 1 of 2 Upsides, it needs some strengthening with new timber 80% good repair • Complete wiring + storage heaters • Plumb the showers, sinks, sewers no central heating• Windows the other Upside, are
  6. Hey Katherine, 100% only I can really advise, however, perspective is always relevant. The idea really is to use the funds to start the groundwork for a property business & develop a decent credit rating. The extension wouldn't cost as much & would produce a better return, yes a second property would be attractive however it would appear to be more prudent to accumulate a second & third property after I could produce company accounts stipulating a year's takings in rent (3) properties. When you say, Would you like to expand your curre
  7. Hey Fellow Investors Enthusiasts, I find myself in a scenario where I have 2 options both with their own pros & cons. I would be intrigued if you could provide me with your opinion on the matter; the 2 options are as follows. Option 1 Should we extend our townhouse house for ourselves 3 people & convert the other part of the house into a 3-bed ensuite 1st-floor apartment to rent out. Pros; add value, impressive yield, Cons; couldn’t sell the house Or option 2 Buy a 3 bed for £50.000 to rent out, at this moment in time we don’t
  8. Hey Fellow Investors Enthusiasts, Thank You for such a fantastic response in regards to my first post I have now established a fair property only thing is the lease & I quote ( A new 150 year lease will be created with a nominal peppercorn rent. Service Charges are to be arranged at the same time as lease is drawn up.) Does this suggest major cost to renew? Legal fees I assume could be extensive From what I understand their can be hidden high costs in the service charge going forward. But Most Importantly, Will the landlord
  9. Hello Darren, I must complement you on the meticulous detail You have comprised together their in your profile, You should be very Proud. I too am not lying when I say I enjoy every aspect when it comes to this profession, Nevertheless negotiations can be a Drag + extending lease's look to be challenging. However that is not enough to deter oneself from the joys that come with Sourcing - Rolling Your Selves Up - Marketing especially Marketing & not to mention PROFIT. I'am currently going trough a major negotiation at the moment Myself that will have steady prospects
  10. Hello @theo brown Thank you, Yes I believe that I could effectively sustain my outgoings for at least one project, only then could I evaluate to see if I could live off generated profits for future endeavors. However my intentions long term would be a Buy to let system. So to answer your questions Yes 1 project Yes clear on spending Return on cash for now Have you any niche yourself Theo?
  11. Hello @haf1963 Sounds Great 5 properties 3 years nice enterprise going on there, do you intend to steady the ship or continue to build?
  12. Okay Richard, Thank you for your timeline, your quote ( We usually get paid more for fixing more problems...) + the logic behind chain free Properties. I'am now going to research out of curiosity the three areas that you developed that price point an get my head around the numbers again Thank you for your tips. Thomas J.
  13. Wow, You and to be fair a lot of individuals on this site don't have what is called a Scarcity Mindset which I really admire in people nowadays. Okay Richard, When you say 6-9 months hypothetically speaking do you mean for example - (3 months) - Source - Negotiate - Buy (6 - 12 weeks) - Renovate - List for sale (Then waiting Game) fair to say? Only I read somewhere too that a lender wont facilitate a purchase if the House they are buying has not been in the Vendors Name for 6 months or above Correct? I noticed where there was extra expense in your 2 first
  14. @haf1963100% I agree with you the competition can be fierce & of course numbers don't lie I'm not the type who looks on breaking even at the start as as a waste of time really its the experience all the way that is tangible. I have witnessed projects go accordingly and not So smoothly at the same time, However TOO idealistic is Foolish, I have jump trough plenty of hoops with solicitors so I Know how that scene plays out and As regards the selling aspect nowadays We can be more enterprising. So hopefully there is a Saving By the way, whats your interest in this sector?
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