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douglas glen

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Everything posted by douglas glen

  1. Hi Everyone, So I have viewed & want to purchase a large house near me, it was previously used as a halfway house for under 25's run by a charity. As such it was set up with 6 bedsits, each with kitchenettes & two shared baths rooms, one on each floor. There is also one more bedsit, that used to be the office that again has a kitchenette & its own bathroom. It has a fire alarm installed already, and each bedsit has its own consumer unit. Really it just needs a bit of TLC and decorating to get it back to scratch. My question is, should I keep it the same setup OR do I chan
  2. Hi Everyone, So Me and my business partners (my friends ) have finally had our business bank account application accepted by Barclays, the LTD company has been incorporated since October.. I believe that makes It is time we get some insurance before going any further! Has anyone made their own LTD company for their property investments? And if so what insurance did you get? We are going to buy, refurbish & let out the properties to tenants. Any advice would be much appreciated Thank you, Doug
  3. HI DerekT, Thank you for getting back to me ! I was considering Metro Bank, did you have to go into a branch to open your account? I have started the process with Yorkshire Bank (25 months free banking, you can't argue with that!), however, if I have to go into a branch I wont be going with them since I live down in Dorset! Thank you again, Doug
  4. Hey fordy9 what bank did you settle upon? I am in a similar situation to you, 4 directors & the same needs that you mentioned. regards, Doug
  5. Hi Everyone & thank you in advance for your advice. I am looking at opening a business account for my LTD property company & have become a little overwhelmed. There are the usual high street banks, but I have also found other "banks" such as Cashplus & Tide, these "banks" however do not actually hold your funds, other banks do, for example with Cashplus RBS actually hold the funds. Would this cause any problems when applying for mortgages with lenders, have any of you come up against any problems when applying for mortgages because of who your bu
  6. Labowski & haf1963 thank you so much for both getting back to me ! The property in my sheet was only an example, finding a 200k property that would let for 2k PM would be great! Haf, good point about the accountancy fee's I will have to factor them into my business spreadsheet! I put in two refurbishment's into the calculator because I was hoping to do a minimal refurbishment to get the property to a lettable standard & then after 6 months of a tenant being in there begin the larger renovations etc to add value to then property & then after that refinance.
  7. Hello Everyone, A little background info on myself, I am a 28 year old electrician & I want to be financially free through property. I & my partners have listened to what feels like millions of audiobooks & done hours of researching into property & have decided on starting a LTD company in which to do our business through. We are currently in the process of getting the company set up with a property accountant (who himself is a property investor), we also have a mortgage broker a couple of us have used before (who is also a property investor)
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