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ross w

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  1. The banks have stopped lending above 60% LTV.
  2. Our local paper reporting the developers cash has been seized. https://www.liverpoolecho.co.uk/news/police-seized-337k-cash-elliot-17931041
  3. I'm going. I live in Liverpool and if I had known they was doing one in Manchester later in the year I would have probably would have waited but I see it as a good day out now. I've been waited to get started for a while now and I am able to finally pull some equity out of my home around about the same time as this event so I'm hoping to learn as much as possible just before I get going. £185 all in (ticket, travel, hotel) is not a great deal in the grand scheme of things.
  4. Hi, I have seen a potential opportunity to buy a house after auction. I've never done this before. Can anyone who has offer any advice? I've made an offer and if it is accepted what happens next? The auctioneer is saying I have to pay 10% and then have 28 days. So do I need the 10% on hand straight away? I know I seem a bit naive here but I just thought because it didnt sell at auction, these auction rules wouldnt apply now. Thanks in advance.
  5. I live next to Bootle. Some parts are worse than others like everywhere but it is ok on the whole. I think they were looking to put some money into the shopping centre there which is badly needed to be honest. Plus, it is really close to the major development that is planned for that part of Liverpool.
  6. Hi Matt, Thanks for the advice. Really appreciate it!
  7. I work as an IT security analyst now. I eventually would like to be on my own as I get a bit sick of being in the same office day after day. If I could eventually be a property developer, that would be nice.
  8. Hi Tommy, Thanks for the reply. The problem with me going to another lender is I would have to pay £500 which i dont fancy doing. Hopefully the appeal process isn't too difficult but I am not expecting much from it.
  9. Just need some advice from someone who is quite familiar with doing this. I have been waiting for ages for a new job to come through since I left Uni so my earnings went up and I had room to manoeuvre and get started. This finally happened and so I got in touch with a broker about releasing equity. So I have 52k left on my mortgage and when I got the house valued 2-3 years ago 2 agents came back both saying 100-110k. My plan was to get 75% of 100k which would give me around 23k plus some savings I have to invest. The broker came back and said I am tied into my current mortgage till April 2020 and to get out of it early would cost me £500 which is not really what i want to do. She also said my current lender have come back with a valuation of 75k according to their market index valuation. 2 similar properties in the same road sold for 95k and 92k 2 years ago in a worse condition so I know its worth more. I was just wondering does anyone know what my next steps could be? I dont really want to wait till April as I've been waiting a while now to get up and running,
  10. Hi, It was my comment you are referring to and I just want to make clear I have no problem with investors from anywhere investing in Liverpool. I was just explaining that this is what local estate agents are saying. As dino v pointed out in the next comment, and I agree, there is always going to be opportunities.
  11. This happened to me when I bought. Came back needing a full damp course. The cost for this was 3k so I said either knock 3k off the price, do the work yourself and ill buy at the price agreed or no deal. The seller Knocked 3k off the price and I got the work done. I wouldn't advise going ahead if so because surely that much work will affect your ROI and make the deal less worth while.
  12. There are major plans north of Liverpool City Centre. A new high speed railway to connect to Manchester and London much better, new football ground for Everton and lots of other developments. I am not really experienced in where to look for capital growth but Crosby is pretty close to where all this development is going to take place so I would suggest it is a good area to be investing.
  13. This is my dream also. I'm 28 and if I can achieve this by 40 I will be very happy.
  14. This is my dream also. I'm 28 and if I can achieve this by 40 I will be very happy.
  15. Hi, Just looking for some advice as I am new to this. My situation is, I bought my first house Feb 2015 for 61k (it was on the market for 90k). I done the refurb work and began to let the property out while I went to University as some extra income (it rents for 650pm and the mortgage is 205pm repayment). Once the refurb work was done I got the house valued and both came back around 100-110k. I then had an issue with a bit of a nightmare tenant but eventually got him out and once I left University I moved into the house with my girlfriend. I am now looking to getting back into investing for the long term. The problem I have is my wage is only 17k a year so cant really pull out the money I need. I have been successful with a new job on 28k a year but it is taking a while to go through and I'm having my doubts it ever will now. It is frustrating because I can see a few good opportunities that I would like to move on but cant. Does anyone have any advice with what I could do, or is it just a case of waiting for my wage to go up and being patient. Thanks in advance