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Martin Evans

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About Martin Evans

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  1. Hey wookash, the type of deal you have there is a rent to rent. You won’t be able to rent that with a normal tenancy agreement as subletting is illegal. But what you could do is rent that with a management contract and then manage the tenants that you put in would pay the rent to you. You’d then pay the landlord a fixed amount (which would usually be below market rent as you’d be fixing a contract for 3 - 5 years and paying any small renovation costs upfront). Youd be paying tax on the income (not sure what type). Insurance would also be needed there are some necessary ones and some nice to haves, again I’m not doing this strategy so I can’t say exactly which ones. I sense that a bit more research in needed on your end on the rent to rent strategy. You could pay a management company to then manage it for you (I think) if the numbers stacked up but a difficult strategy to do from so far away when starting out without previous knowledge. Hope this has helped in someway.
  2. Hey, I'm looking to start Rent to Rent in the Bangor area, could anyone give me a recommendation of a Rent to Rent professional that I could maybe reach out to for some advice on the subject. I'm looking for a way to build some extra income while saving for my conventional buy to let mortgage. I'm also willing to of course contribute money for the mentoring or for the advice which is why I am posting on here so I can be sure what I'm paying for will really help and it wont be one of these good marketing guys with fancy words. Thanks in advance!
  3. I'm not sure that is ture. Letting agents are making their money through letting good properties, I would say that some are over charging for some minor services but if you have a good agent and do your due diligence a lot are very reliable. I would say that the bad agents, landlords or management companies already knew the risks of giving bad service for example loosing customers but they did it anyway in order to make a quick buck. I hope with the fines they will either change their ways (doubtedly), simply think 'this will never happen to me' or find a new way to make their quick money (hopefully out of the property industry).
  4. Hey Phil, I agree with your point on tax’s but I believe that won’t be the only way the government crack down on Airbnb if it continues to grow at the rate it is right now, for example in Berlin unless somebody is the owner of the Appartement then you can only rent on Airbnb for 90 days of the year due to the lack of housing and that is the way I could see it going in some of the major city’s of the UK. But of course right now Airbnb is a great opportunity. Especially if you are self managing
  5. Hey Sathya, Like Voogie, I’d also be looking into the house next door and using the land registry to locate the owner. There could be a great direct to vendor opportunity there!
  6. Hey Rebecca, Make an offer that makes sense. Don’t go from 370,000 straight to 408,000. Have you thought about making an offer that meets them half way first and seeing how that goes? It may not seem like they are in a hurry but you never know and even if that isn’t accepted you still have the option of going to 408,000 if you really want it that much. good luck!
  7. Hey Derek, thanks for your help. Tried to find the BRRRR but had no luck sadly but the website looks great. Can’t wait to have a play around later!
  8. Hey Darren. Thanks for the reply as always. Good point with the paying back 1500 a month. Didn’t cross my mind. Maybe you’d be right a good strategy could be saving 10,000 myself and then getting the 20,000 off him. As I said, I’m just a little bit anxious as it’s my first time. As you know I am living in Berlin so would want to be able to do the flip while still keeping my job here (even though I’d take a month off once I have finalized the perchase). My offer of a JV is still on the cards Darren!Haha
  9. Hey! As the title suggests I am looking for recommendations of resources of informations in regards to flipping and renovating houses. Anything from books, podcasts and websites would be greatly appreciated. Thanks, Martin
  10. Have you thought of partnering up with somebody for your first flip to see how they’d do it and get some hands on experience and then for your second flip you’d be more confident in your numbers
  11. You may be right about the fact that cheaper houses may get less capital gain than the more upper market houses it all depends on the market. I don’t really know anything about Sheffield to comment. I do think it all depends on your strategy and goals and the deals you find. It could be when you buy cash and renovate that you’d be able to take more money out than if you were to get a mortage and wait the 6 months but that’s all up to your personal goals.
  12. So. I’ve finally managed to figure out what the right strategy is for me once my deposit is saved. May father did tell me that he was willing to borrow me £20,000 towards my first project but as much as i have a great relationship with him I feel borrowing money from him for a first project is not a good idea. I can currently save 1,500 a month so it’s a better idea to just wait 17 months for a healthy pot to start. My strategy is for my first property to get a BTL mortgage and buy a house with the BRR model in mind as it’s slightly less risky than getting bridging for my first project and then for my seconds, when I have more confidence, use bridging. My question is where are the best resources for the flipping strategy? Can anybody recommend podcasts around Flipping? YouTubers? Books? Anything like that? Many help would be really appreciated. Thanks in advanced, Martin
  13. What is everyone's view on airbnb? Where do you see the market heading?
  14. Yes to start with but I also plan to move back to North Wales eventually
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