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About cornelious

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  1. Hi, Background: I invested in a Deansgate South 2 bed apartment with RMP [now Property Hub Invest] last year: completion is due next Spring. A 10% deposit is already down. Having just remortgaged my own house to release equity for the final 15% on Deansgate, I am thankfully now in a position to invest in a 2nd BTL property. Question: for my second BTL should I wait 9-10months to see how well Property Hub Invest deliver the goods with the Deansgate apt before investing with them again? Or should I find a BTL property without this property sourcer? Property Hub seem to make everything quite easy and so far Ive been impressed. But I am hesitant to invest with them before the first investment process is finalised, although I am aware that waiting to invest won't give me the best chance of capital growth! I'd like to see if the numbers from the initial pitch are realistic and if many other significant 'unknowns' crop up before the rent starts to come in. Strategy: I am investing for long term (10+ years) capital growth; large monthly yields at this stage aren't too important to me. I would greatly appreciate your thoughts, especially regarding full experiences with PH Invest/RMP. Thank you.
  2. Hi Guys, I am after a sanity check of my understanding of the following please! Number 3 in todays podcast regarding 'Investments to Avoid' was: -Investments that cost you money [I understand it as a negative net monthly profit] This does makes sense to me but what are your thoughts on the given 2 scenarios with the same property with differing LTVs: 1) You have a £200k property on 75% LTV that rents for £500 pcm, management is £50 pcm, interest only 4% mortgage is £500pcm. £500 - £50 -£500 = -£50. So you're losing £50 a month= BAD 2) You have the same £200k property but on a 50% LTV. Rent £500 pcm, management still £50 pcm but mortgage is £333. So with a 50% LTV you have a positive cashflow of £500- £50 - £333 = £117 profit a month = GOOD So, this tells me that the same property can be a good or a bad investment (regarding monthly cash flow) depending on how much money you put in the deal. This is because reducing the LTV reduces your mortgage repayments which could turn a neg cash flow into a pos cash flow. Have I got this right? Thank you,
  3. Thank you very much for your time, I really appreciate it.
  4. Hello All, I'm very excited to be here after having discovered the Property Podcast a month ago - since then I’ve been hooked! So thank you very much to Rob and Rob for the education and entertainment. Hopefully you guys can help me get off on the correct path: My goal: to build a portfolio of professional lets over the next 20 years that will generate a net income of £3k a month (plus inflation) My situation: - I own and live in a house in Cambridgeshire - Luckily I have just a touch over £100k in equity that I could currently release in order to invest in a BTL property to get my ‘portfolio' rolling - I do not have an excess of time so I’m really looking for ‘hands-off' investing and management through managed professional lets I’d really appreciate advice on the following: - Given my goals and as a high rate tax payer, setting up a Ltd company seems to be the way to go. How do you actually do this, how long does it take, how much does it cost? Are there any sites or books out there that you recommend I read to help me with this? - Is this true: if I remortgage my own home, I can ‘lend’ the money to my company as a ‘Director's Loan’ for a deposit on BTL property. I can then extract that money (plus interest) when I need it back to own person without having to pay tax. - Once I have set up the company, can I legally back-date company expenses, to cover my expenditure pre-company start date? For example: traveling to check out potential investments, meeting with sourcing companies etc. - Is there any noticeable difference in void periods of 1 bed verses 2 bed flats in city centres? - How much can I expect to pay for accountancy fees for 1 or 2 properties on the books? - I’ve crunched some figures for 1 and 2 bed flats in Central Manchester but, with conservative estimates on fees, rates and voids, the ROI usually comes out at 1 or 2% at best! Are margins usually that tight on single lets? Thank you very much, any advice will be much appreciated. Corn