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jordystod

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About jordystod

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  1. Hello Scots (and non-Scots :)), You'll likely have seen the news re Boris' plans to cut stamp duty in England, essentially resulting in properties costing <£500k being exempt from stamp duty tax in England. It's a move to boost London market, but with avg. prices in northern England falling below £500k, there's a major concern that Scotland could face a "property exodus" as investors seek anywhere but Scotland to invest... https://www.heraldscotland.com/news/17768196.boris-johnson-39-s-tax-plans-spell-39-disaster-39-scotland-39-s-property-market-says-scottish-housing-expert/
  2. Hi Craig, Thanks for coming back to me, was starting feel like a bit of a loner! Well, incidentally, in the past couple of weeks I've reverted back to my original model of flipping flats to generate profits which I'll invest in deposits for BTLs, and building a portfolio of BTLs that way - the "trading" model I was referring to revolved around buying decent nick (albeit distressed properties) at sizeable discounts and chucking back on the market straight away - way too little margin and too much experience required, so not my bag really. I'll be based in Glasgow, but am original
  3. Hi Adam, Great advice, much needed at this early stage. 1) I think I'd agree that cash makes sense at the outset, to test the waters with 1 project, as cash presents less problems; specifically the extra costs involved in taking on finance. I must admit I'm 50/50 on what to do though, as the amount of money I have available to me doesn't leave much margin for error (probably 2 projects cash funded max.) - whereas leveraging with short-term bridging enables me to use say £100k of the £300k available for deposits on 3-4 properties...with plenty of cash left for refurb costs & conti
  4. Hi all, I'm a novice, currently unemployed, but with approx. £300k (family loan) to invest. I live in Glasgow and am thinking about executing flips on flats to generate profits which I can invest in deposits for BTLs, building the portfolio to 3-4 lets in the next 18-24 months. I have a couple of questions, so thank you in advance. 1) Should I leverage a handful of purchases with short-term finance (mortgage broker engaged) or cash buy & refurb 2 properties (£300k available)? 2) Using Rightmove for sourcing, is it better to buy uninhabitable (possibly repos) flats
  5. Hi all, I'm a novice, currently unemployed, but with approx. £300k (family loan) to invest. I live in Glasgow and am thinking about executing flips on flats to generate profits which I can invest in deposits for BTLs, building the portfolio to 3-4 lets in the next 18-24 months. I have a couple of questions, so thank you in advance. 1) Leverage a handful of purchases with short-term finance (mortgage broker engaged) over time or cash buy & refurb 2 properties in short space of time? 2) Using Rightmove for sourcing, is it better to buy uninhabitable (possibly repos)
  6. Hey, Not sure how many Scots are on here, expect a few! I'm new to property and am interested in "trading" properties (not refurbs). I'm also new to Glasgow. Any property friends up in Glasgow? Would love to buy you a coffee in return for some quick advice on my strategy. Thanks, Jordan
  7. Hi, New to property investing and very interested in flipping a property to fund an HMO (and build from there). I recently left my job, and have enough savings to keep myself afloat for a fair few months before a new source of income is required. It's during this time I'd be keen to refurb something and sell. I don't own any property, nor have I ever, but was wondering if I would be eligible for "bridging" finance, including refurb costs? I always assumed bridging involved selling an existing property during the bridge-loan term, securing the loan with your current property as w
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