Jump to content


Established Member
  • Content Count

  • Joined

  • Last visited

About wookash

  • Rank
    Established member

Recent Profile Visitors

The recent visitors block is disabled and is not being shown to other users.

  1. Hi Hubers, In the latest "TPP 324: Is buy-to-let dead?" Rob mentioned this in regards to tax changes: I would like to build my portfolio for the next 15 years from now and I would like to start tomorrow . Does it mean I should set up an LTD Company and keep buying properties via the company? If yes, then what is going to happen with all that income from these properties? Keep it on saving's account for the next 15 years ? I was thinking maybe I could employ my partner in the LTD company and she would take that income instead of me . What do you think? What are your ideas about it?
  2. To add the value to your property, perhaps? Extension, garden a garage refurb etc. I think this even has to be an 'official' reason for re-mortgage, am I right ?
  3. @lilla d Thank you for the explanation, it is helpful!
  4. Thank you @lilla d. I'm still quite new to it but I think good understanding of leverage and cashflow is essential in property investments. I'm still not sure how to understand this: I'm asking because the investor I've met recently uses this strategy to release the the capital in order to re-invest. But I didn't have a chance to speak with him more about it hence I would like to understand the topic better before I approach him again. So even if value of my property has increased I'm not getting any money from the bank. But in the same time I still pay mortgage payments based on £75k loan ?
  5. Let's assume the property is already on 75% LTV because it is BTL and my reasoning could be as simply as: I would like to release the equity on my property to re-invest, which means I could have a second mortgage. Would that convince the bank ?
  6. I would like confirm my understanding of refinance or remortgage of a BTL property. I have simplified it as much as I could by excluding all the costs, fees, refurbs etc. Is this how remortgage works in principle?
  7. @darren mcneill I presume you offer such service? I could simply borrow the capital or would I be more passive investor? Interesting either way, I will send you an email later.
  8. @darren mcneill Thank you kindly for the reply! Frankly I was thinking about the same process on my way to work before you replied. Which seems like a viable thing to me! Unfortunately these figures are a bit 'unrealistic' for me. I would need to relocate in order to get such returns. I currently live nearby Cambridgeshire and properties prices are much higher and yields are lower. I have prepared a brief projection how this would work in my reality for example 2 bed terraced house ( LINK ) (optimistic scenario/no voids/taxes/ extra costs): _____________________________________________________________________________________________________________________________ Things are slightly better if I would rent each room individually for £500 each. Then the projection would be as follow: I'm thinking about relocation anyway so maybe then it could look better on paper. Sometimes I wonder where people get all that money from from their properties
  9. Martin Thank you kindly for your reply! It will surely re-think this topic again.
  10. Hello, members of PropertyHub! I'm sitting on the fence with my property investment career. I'm in the topic of real estate investments for over 2 years now. I watched multiple videos, listened to podcasts, audiobooks, I was on BTL course, I read multiple books about property investments, I'm basically following every property investment facebook page available, I have even borrowed money to others for their property investments (with success), I even viewed a few properties already, I could literally write a book about properties investments ..... but I still haven't started investing and building a portfolio myself. I have exactly defined my goals. I would like to live off my passive income in next 10years. So I decided to choose a strategy to buy auction properties, refurbish it and sell it on. Repeat the process 2-3 times and reinvest it into BTL property. Repeat the whole process. The thing is that I don't have enough cash to buy a property at the auction. I know there are bridging loans however I'm not sure how to deal with those (+ I'm a newbie so I have 0 contacts, know 0 people who can renovate the property quickly). So I find it quite risky to jump into this deep water. I'm employed and I work from 8-6 every day, struggling to find time for anything. Right now I have managed to save up around £30k in cash and I still don't know what to do. I'm struggling to find the exit from this rat race. That's why I decided to ask you, experienced property investors, what would you do if you had that cash and zero experience and contacts. What would be your strategy today with £30k in the pocket? Thank you!
  11. Hello, property aficionados! I have an opportunity to rent a whole property in which I currently rent a room. I have no experience in BTL or renting the properties. I'm genuinely a blank page when it comes to properties. Hence I'm asking for advice! The landlord offered me to rent his whole property (directly from himself, not via letting agency). It is a THREE small beds end-terraced house. My idea is to accept his offer but then sub-rent all bedrooms and I would simply move out. I would then manage the property and sub-lets. But because I'm inexperienced I have few questions here: How to convince the landlord to give me permission to sub-let his property? It is quite a sensitive topic but I'd like to know which arguments could be the best to use here. I need to be ready to answer questions like: Why can't landlord do it himself? How to deal with taxes? Do I need to pay any tax from the rental income? How long should the contracts with potential occupants be? Where do I get a Lodger's agreement from? How to negotiate extra money from the landlord to refresh bedrooms (paint, new carpets etc)? What about insurance? Should I buy insurance or should occupants buy it themselves? What type of insurance would be recommended here? Moreover: I would like to move out of this property then. I would like to move about 200mils to a different city. How difficult it would be to manage the property then? Is it still a sensible thing for such a newbie like me do it? Any comments, the advice is highly appreciated as this is my first post on this forum and also I'm fresh in the topic of real estate.