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Jones the Steam

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About Jones the Steam

  • Rank
    Established member

Profile Information

  • Location
  • Areas I invest in
    Newcastle Under Lyme / Stoke on Trent
  • Property investment interests
    Single lets. BRR to grow portfolio
  • My goals
    To be able to choose when to work and when not!

Recent Profile Visitors

282 profile views
  1. Thanks for the advice - much appreciated and yes, it is a complicated issue. All I was trying to say in my intro was that I've got a big decision to make and there's probably no clear answer at the moment. I'm basically looking at 3 scenarios roughly described below. 1 - sell the house, take the remaining equity (-capital gains) and loan it to the ltd company so it can buy hopefully 2 terraced houses which will give greater income (about £150 extra per month). capital gain of 2 terraces vs the original house is similar and not easily predictable but something I'd need to look at as
  2. Hi Lewis, just to answer your question - you asked if I usually buy properties "ready to go" or refurbish. I don't think I've bought enough stuff to say that I usually do one thing or the other to be honest. I've just bought 2 this year to add to my original home and as it happens they are both nice houses that don't need any work (well maybe a lick of paint here and there). that's not to say that I avoid refurbs - just that I haven't found one yet that works for me. if I'm honest what happened is that when I remortgaged my original home to release capital - that was the point at
  3. Hi Lewis, I just wanted to respond to your post - specifically about investing remotely and share some of my experiences. I used to live in Newcastle Under Lyme, and then moved to Cardiff, which is around 150 miles away and rented out my own home instead of selling it. I also remortgaged my own home at the same time to release some money for a deposit in Cardiff. The original house was rented out using a letting agency and to be honest I don't think I could have done it by trying to self manage - the distance is too great. The letting agent is also a nice buffer between me and th
  4. Hi Paul, there are stories around that prices in Newport are on the up due to the removal of tolls on the Severn bridge and people buying there as Bristol is quite expensive. May be worth a bit of research? regards Andy
  5. Hi everyone, I've recently joined the forum and for once in my life am not going to lurk but try to contribute. I've been what you might call and accidental landlord for many years (about 14) and was kind of happy with that until about 2017 when I started to realise that there was a bunch of equity in my rental property that wasn't being used at all. I quite randomly found a book in Waterstones that gave me the inspiration to remortgage my 1st house to release some equity to invest - so I started with a pot of around £50k. I'm investing in Newcastle-Under-Lyme and Stoke on Tren
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