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james batchelor

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    13
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About james batchelor

  • Rank
    Established member

Profile Information

  • Location
    Newhaven
  • Areas I invest in
    Liverpool and Blackburn
  • About me
    18 months into property and learnt so much. Started with BTL, then flips and now conversions .
  • Property investment interests
    BTL, Flips, Conversions.
  • My skills
    I've run a IT business for the past 14 years, so have a good understanding of running a business and finances. In the past 18 months we have flipped 2 properties and converted 1 to 3 flats. Also doing business consulting for a building company that specialises in extensions and New Builds.
  • My goals
    Goal is to replace my current income from the business with Property rental - I have a 5 year plan to achieve this.
  • Interests outside property
    Anything that has an engine and 4 wheels!

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  1. Hi, you should have either signed a new tenancy agreement with the new amount or if on a rolling (periodic contact) a section 13 notice should have been issued notifying you about the rent increase. I would advice you talk to the agency as it maybe the rent increase was in the last month of the original agreement. thanks James
  2. This is why I always look at ROCE as my main figure. I would say with £100 a month profit I would not be touching that deal as that is to small a profit, it only takes 4 weeks void (what you should allow for) and you have just lost nearly half your profit, plus the cost of advertising for a new tenant. If you are going for capital growth then you would buy below market value, add value through a refurb, put on a 2 year fixed rate mortgage and refinance most of the deposit out in 2 years time. Remember, you make money over time with property, it's not going to make your fortunes ove
  3. agree with the above. If all you are doing is putting the money in, then you are in effect an investor, so would normally get around 8 - 12% return on your money. Whatever you decide, make sure you have the security in place and drawn up by a solicitor to protect you.
  4. Hi Darren, Best person to answer this is your accountant. If you plan on buying a few a separate Ltd Company may be the best way forward. Your personal earnings will also play a part, although as you say you are buying in cash opposed to a mortgage S24 will not apply to you. Thanks James
  5. Best place to start is education. Have you done the training on PropertyHub? I spent 6 months watching, listening and reading everything I could before I started, and still learning everyday 2 years on. In regards to your questions: What are my options? - So many, ,main ones are single BTL, HMO, SA, Commercial What other strategies should I consider and research? - this depends on the time you want to invest, are you self managing or using a agent? How do I identify a good area to buy rental properties? - What are you after, rental yield or capital growth. Once
  6. On paper I have very little earnings and have got 9 BTL mortgages in the past 18 months. They will go off your Tax returns what will show a small earning and dividends. You may have to go with a slightly higher rate as the mainstream lenders won't like it, but I have mine with TMW, TML and Fleet. The small extra in interest will be nothing compared to the tax savings.
  7. I'm from Brighton (just outside) and we flipped a property there. I did look at rental and these figures are not correct. We sold for £425K, a 3 bed terraced house in central Brighton, and the rent on this would have been £1400 a month. Not sure were they are getting £2,044 a month average rent from!
  8. I can't use TMW anymore as I've got to many properties in a short space of time! TML was OK and Fleet, so may have to move onto another provider.
  9. HI, It sounds like you want to rent the property buy the room, so would be considered an HMO as a BTL mortgage would only allow a single AST. As a first time landlord you will find it very hard to get a HMO mortgage as they want experience. Onto mortgages, the best you will get on a BTL is 75%, but not being a home owner this maybe difficult in these times as loads of mortgage products have been pulled. You mention about going buying as a residential and then letting it. Some mortgage companies will allow this, but not straight away. You also have the issue of not having a job,
  10. Liverpool is a very competitive market at the moment. Personally I buy the family houses outside the city centre as feel the centre is overpriced. Look up Vicky Peers on Facebook, she has a group called Inside Liverpool and you can get some good advice from that about the Liverpool market.
  11. If you are actively building your portfolio interest only is the best way to go. There is a good podcast on this, think it was the Feb Fundamentals this years. If your interest rate on a BTL is 2.7% and inflation is 2.7%, then you are in effect not paying interest as inflation is eating away at your debt. I always ask myself, what is the opportunity cost. By repaying a mortgage you are saving 2.7%, but can you make more then 2.7% yield on another property?
  12. Interested in this as well. It put my kids as 24% share holders each with me retaining 52% as I though this would be a easy way to transfer the company with minimum CGT. Turns out mortgage companies do not like this!! There are only a few that will lend with kids as shareholders. from what I understand if the kids become Directors at 18 they would take on the new remortgage.
  13. Hi All, Another newbie joins! I'm James, and I live on the South Coast near Brighton (sounds like I'm introducing myself at some self help group!). I will shortly be coming into some capital and would like this money to work for me so looking at Property Investment as a way to achieve this. The plan is to spend the next 5 years building a portfolio to replace my income, so I am seeing if their are any investors that live near Brighton that would like a free lunch in return for their advice! What can I offer the group? I have run a successful Outsourced IT business for the last 14
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