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Ravi Mohta

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About Ravi Mohta

  • Rank
    Established member

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  • Location
    West London
  • Interests outside property
    Photography, Listening to Music, Travelling to new placed
  1. Hi I'm buying a property in cash which needs full refurbishment. Once the refurbishment work is finished, the property should be valued at £50k or more. At that time, I would want to remortgage the property at its market value so as to release my money from the property. This is where I have couple of questions as I am getting contradicting information from different mortgage advisors. I know that most btl mortgage lenders follow the 6-months rule and would not allow me to remortgage the property before 6 months of owning the property. However, I have also found that Paragon Mortg
  2. Hi Martin, Edinburgh is another location where you can get a 2 bedroom flat for around £70k and put it on rent privately or lease it to council on long term lease. This would also suit your budget and Edinburgh is an excellent city in terms of jobs and economy. Cheers, Ravi M.
  3. Hi Jason, I also agree with other members here that this can be done and you can nominate your wife to receive for example 99% of the income and you can receive 1%. Please note that normally this should be done at the time of buying the property and before it is let out. I enquired about this couple of years back with my accountant (who himself has lots of properties) and was told that if you do this, then typically the HMRC will want to apply the same proportion to calculate the capital gains at the time you sell the property. They won't allow you to let your wife have all the rental
  4. Hi Joe, As Rob mentioned, I have properties in Edinburgh on the Private Sector Leasing scheme and it's been fine since 2005. Having said that, I've had one property in west London which I let to council for a few years, and then they returned it to me with a one week's notice !!! Not nice at all. To make the matter worse, the tenant trashed the property before leaving (costing me a fortune to repair) and the housing association simply termed it as a 'fair wear and tear' and refused to pay me anything. Luckily, that was the only time I've had a bad tenant from council. My propertie
  5. Hi Nick, Thanks for your message. I have just sent you an email. Regards, Ravi M.
  6. Hi Mark, It is in the Anfield area. I'm still in the process of buying it so technically it is still not mine :-) I think our approach is similar as I have also focused my investment strategy on low-cost LHA tenanted properties. In fact that's the same strategy I have followed in Edinburgh for many years and I am currently in the process of buying my next property there. It would be good if we can talk on the phone as I could use some guidance about the Liverpool city as well - as this is my first property there, though not the last for sure. Regards, Ravi M.
  7. Thanks Rob. I look forward to getting some information from Martin. Thanks both of you for the help. Much appreciated :-)
  8. Hi I am looking to buy some properties in Glasgow and then rent them to either private tenants or to the local council on long term lease. The reason I am thinking of Glasgow is because there are lots of regeneration projects going on in Glasgow and they are also hosting Commonwealth games in 2014 - which will boost the economy and bring certain infrastructure development and business to the city. This when coupled with relatively low property prices in the city seems like a good deal. Having said that, I am still in the process of doing my research and still not 100% sure if it wo
  9. Hi Rob, Thanks for your reply. Main reason to move away from Edinburgh - the property prices have gone up and the LHA has gone down. So the returns on the investment are not what they used to be. They are still good .... but not as good as they used to be. Glasgow has a lot going on right now in my view in the form of many regeneration projects. Also, they are hosting the 2014 Commonwealth Games. This has translated into local businesses willing games related contracts to the tune of over £180m and there's a lot of public and private investment going in resulting in building of a n
  10. Hi All,, I'm Ravi and I live in West London. Me and my wife entered the property investment in 2005 when we moved to a bigger house and rented our previous property out. Since then, we've been actively interested in the property investment and over the years have developed a small portfolio of properties - mainly in Edinburgh, Scotland. They are all let to Edinburgh council on long term leases and its all going well there. Since the second half of 2013, we decided to spread our investments into other parts of UK - mainly cities that are still undervalued and can offer low-cost
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