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About Lucy33

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    I'm new to this, so need all the advice I can get!

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  1. Thanks so much Simon, from my research I thought this may be the case. And I also agree with the amount of money I have. Bearing in mind the amount of money I have to spend, do you think getting a mortgage on a property, renting it out for a year/18 months and then selling it on would be more doable? I can of course raise more funds but this would take a while, and would like to get moving. Thanks, Lucy
  2. Hey guys, I'm looking to do my first flip up in Leeds on a property between the £80k - £100k mark. I have approx £25k cash for deposit, fees and renovation but I'm just a bit unsure which route to go down re: financing. I want to try and get this flip down as quick as possible (within 2/3 months) so I'm not sure if this will affect how I finance the flip. Bearing the above in mind is there a clear route to go (mortgage or bridging loan)? Would really appreciate any advice anyone experienced can give on this! I know lenders don't like loaning to people flipping, but I've read yo
  3. Hey Guys, Looking to invest up north in 1/2 bed property (at a lower price point) and just trying to figure out how much I'll be spending on legal/professional fees. I'm worried that I will have too many outgoings to make much of a ROI. Mortgage broker - approx 1% of purchase price Estate agent fees - 1 - 2% of purchase price Solicitor fees - up to £2,000 Stamp duty - £3,000 Capital Gains Tax - 15 - 18% of profit made excluding renovation costs/expenses From the more experienced investors - does this look about right? Thanks so much!
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