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About kylelockhart

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    Build a short term holiday let portfolio

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  1. Hello I am looking to purchase a property for short term let’s (week to week). I know people who do this on a standard BTL mortgage. However, I suspect they are likely breaching their mortgage terms. Holiday let mortgage lenders are really limited and seem to have lots of conditions attached. Naive question, however, would a BTL lender take action if they found out I was doing short term letting and how would they find out in first place? I am working with a broker to secure the correct mortgage, but I am curious to understand how others are able to do this on a standa
  2. Quick numbers here based on buying cash. Property is a 1 bedroom flat which requires new kitchen and shower room. Be grateful to know whether I am deluded here or not . The most recent sales for similar properties on this street are around £95k. (Note in Scotland the seller pays for the survey before the property can go on the market, hence the £1000 fee included). Purchase: £42,000 Legals (Purchase and Sale) £2,000 Estate Agent Selling Fees: £1,500 Scotland Home Survey £1,000 Refurb Costs £15,000 Total investment: £63,180 Sale: £95,000 Pre Tax Prof
  3. Hi - Sorry for the delayed response, I didnt realise I had responses to my post. Thanks for help so far.. I have around £70k for the purchase, I unsure whether we should purchase a property in cash at auction or use only a portion of it now and retain half for anoter flip. Ideally. i'd like to flip two this year. I know the Glasgow market extremely well (just sold my flat there for a £80k profit in 1.5 years) so this is the area I am looking at. Given this is our first property flip, we would not be looking to do major work, but cosmetic work, flooring and potentially new bathro
  4. Hi there I’m fairly new to the world of property investments to date I have only bought and sold my own residential properties. I am now at the stage I would like to flip a property. I will do this with my brother who extensively refurbished his own properties as well as being an electrician and plumber. I have the capital to do this. however, I know I cannot use a standard residential mortgage for this but struggling to find out what type of bridging finance I need. I have spoke to mortgage brokers , a couple of whom were unable to help me. can anyone here poin
  5. Hi! I have been listening to the Podcast for a year or so and finally picking up the courage to introduce myself. I'm Kyle, I’m 30 YO and I have just relocated from Glasgow to Leeds . I have been keen to attend the networking meet ups for a while, unfortunately they do not have any events in Scotland. However, they do have one in Leeds - has anyone been to an event and can share what to expect? For a long time, my partner and I have had ambitions of building a property portfolio. Having just sold our home in Glasgow which returned a nice profit, we purchased a flat in Lee
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