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Ollie Oakley

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    17
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About Ollie Oakley

  • Rank
    Established member

Contact Methods

  • Website URL
    www.southsea-studios.co.uk

Profile Information

  • Location
    Portsmouth
  • Areas I invest in
    Portsmouth
  • About me
    Owner of a MUFB of 11 self contained apartments, of which 2 i run as FHL.
  • Property investment interests
    BTL, BRRR,
  • My skills
    FHL (Airbnb etc)
  • My goals
    Early retirement from the armed forces and to be able to provide my children with their first property when they are old enough.

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  1. Leverage is extremely powerful.....catch up on Rob & Rob's podcast on using leverage as its extremely educating and you'll be straight on phone to your mortgage broker! Good luck
  2. Yes that is very true haha! Thanks mate
  3. Hi Stuart, Of course, i suppose it was obvious haha! But another tick in the box..... Cheers Ollie
  4. Hi Steve, We have 11 apartments in our MUFB.....when we refurbed the place we set two up as FHL and the other 9 long term rentals.... Safe to say, the 2 x FHL bring in nearly as much as the other 7 long term rentals do altogether. The boom has definitely happened already though.....few years ago, COVID actually saw the opposite and saw a lot of people switch from FHL to long term rentals due to the lack of workers and travellers booking. Although like anything it'll pick back up again. All i can say is i am glad we didnt go full FHL across all 11 apartments as that would h
  5. Morning all, Seen an opportunity in my area to purchase freehold of 2 flats (converted house)..... But my question is, with a ground rent of just £150 per annum per flat and a service charge (Not sure the exact charge at moment)....what is the benefit to being a freeholder? Lease remaining is 108 years.......guide price for the freehold is £4500-£5500. Surely the very small income generated is all needed to maintain the property each year? Why would anyone go ahead with a purchase like this? Be delighted to hear if anyone is a freeholder or knows any reasons as to why it w
  6. Morning all, Quick Q.....when using a bridging loan for financing a flip etc....does the bridging loan term commence on completion day or before? As in the 12 month period for example....as sales can take a while, i assume completion date but can anyone confirm this please? Thanks, Ollie
  7. Hi Jack, Not 100% on this, but my initial thoughts are that the lender perhaps does not specialise in this sort of lending....and more to the point it would be against their T&C's if you got the money from them and ran it as a HMO. Only other option i can think of is you advertise to Students and perhaps get a group of students in each year (use an agent) and they all sign the single agreement for the year. I highly recommend VIBE Finance if your looking for finance options, especially for HMO. Speak to Kim, let her know i recommended you and she'll look after you! https:/
  8. Interesting......just applied for an account with Starling for my SPV limited company.....could work well!
  9. The seafront is definitely an attraction.....all of my tenants are working professionals yet they all found my place attractive because its in a quiet location as opposed to busy city centre, along with the fact its a moments walk to the beach and front etc. I wouldent rule it out....plus your long term growth will be better i think nearer the front. Have you seen the seafront development plans? Once thats complete i think its going to really improve house prices nearer the seafront
  10. Hi Jake, A personal recommendation would be Paul Lee at Larcomes in North End! Highly recommend..... Good to come across a fellow "Musha investor" too !
  11. Thanks David, Yes agree they are a little more, but weighing up the options it'll work more in my favour for my goals etc. Thanks
  12. Evening all, Just continuing my research into starting a limited company, as it is indeed the way to go for me moving forward for tax reasons etc. Question though...i know the pros/cons to interest only mortgages.....but does anyone else who has BTL through an SPV use interest only mortgages? So the mortgage is fully deductible? It would make sense right? over a re-payment mortgage.....again i'm happy with all the pros/cons to interest only. Strictly a tax based question that google didn't help much with haha! Thanks all, really appreciate any feedback :) Ollie
  13. Hi Arjun, Thanks a lot for your response, much appreciated. That makes sense using the bridging. I suppose it would make sense to workout if the early repayment charge was less than the costs overall for the bridging and see which works out most cost effective. I know bridging tends to be more expensive. I wasn't aware lenders typically don't like you using BTL for BRRR option, although i didn't consider just asking for additional borrowing anyhow. I assumed perhaps people were perhaps not using a fixed mortgage and that way refinancing straight away, or like you say paying the early rep
  14. Hi all and happy new year! Looking over the BRR strategy.....a quick question for anyone who might know the answer. How quickly can you refinance and pull your initial investment back out? If i buy a house in Jan, with a BTL mortgage, complete the refurb by March ready to rent out...can I re-finance that soon or do you need to wait out the initial fixed period of say 2 years? I know you probably don't need to wait til the end of the fixed period, but not found any info on the typical process.....or do you pay exit fee etc? Thanks Hubbers! Ollie
  15. Hi all and happy new year! Looking over the BRR strategy.....a quick question for anyone who might know the answer. How quickly can you refinance and pull your initial investment back out? If i buy a house in Jan, with a BTL mortgage, complete the refurb by March ready to rent out...can I re-finance that soon or do you need to wait out the initial fixed period of say 2 years? I know you probably don't need to wait til the end of the fixed period, but not found any info on the typical process.....or do you pay exit fee etc? Thanks Hubbers! Ollie
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