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ajfirth

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Everything posted by ajfirth

  1. Thanks for reply Conrad. Really appreciate the help. The answers that I have to some of your questions are; Purchase Price £79k, Currently let at £465/month. Tenants have been there just under a year and I’m let to believe no missed payments. The house was immaculate when I went to view, though they did have a full day of viewing so could just have staged that, I suppose. I will go back to the estate agent and add your questions about affordability and history to the list I’m already asking. Thanks again
  2. Hi all, We have had a few great bits of advice from this site and I’m back for more. We’ve had an offer accepted on our first BTL and the property has existing tenants. The numbers won’t break any records, but do hold out on an 8% stress test. We’re told that the tenants had to have a guarantor in place to get the tenancy but have been told that the EA ‘don’t believe’ there have been any arrears (1st thing we’ll double check). They won’t let us see the paperwork at the moment due to GDPR, (fair enough) but I’ve asked them for an anonymised copy. Our question is this; sh
  3. Hi all, I’m a brand new to property investment having decided to use some inheritance to start our portfolio. I’ve had an offer accepted and wondered if I put some basics on here if somebody would be able to critique for me? I’m not looking for anything amazing, just a solid first step. The property is virtually ready to rent, just a new carpet in the hall and a lick of paint. The numbers are; PP £95,000 Rent £500-550pcm Management 12%+VAT SDLT £2850 Recent sold on the same street are exactly the same, 2 x £95,000 this year.
  4. Hi all, We are currently looking at a deal with an estate agent where the property is currently rented out on a company let. The company are keen to extend the AST for another 12 months. It is currently occupied by three unrelated people, each with their own room, with a shared kitchen and bathroom. It’s my understanding that the property does not require a HMO licence as there are less than 5 occupiers. My questions are (I’m sure I’ll think of more); do we need to consider anything specific for a company let? What should we do differently than a vanilla BTL? Are there
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