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jonathanwm

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  1. Hi Loco, By off-market I mean that we're in the fortunate position that, due relationships we've built over time in the city, we get access to/offered first dibs on deals that aren't listed on online portals. It means we don't deal with competition and thus get great prices and often quirky property. Some examples of deals that have come our way recently: 3-bed, 2-bed top floor Apt. in Southport; would kill on AirBnB: https://www.dropbox.com/sh/5zyrd7flqa2mkg3/AAAeRnjMPWLXHk3nXuMGWWcja?dl=0 2-bed BTL, could achieve £525 pcm or £70pppw as a house share: https://www.dropbox.com/sh/szbj84i1ez24b1h/AACz1lyG-nzZzIg1FIbmpJt4a?dl=0 Mixed-use block (commercial downstairs, with flats on top). Currently generating £38,000 net inclusive of commercial rent, however when previously operated as full SA, it's income was £45,000 inclusive: https://www.dropbox.com/sh/gc6c37w89n49j7a/AAClLqgAP6QsiSb9RgYqY0Woa?dl=0 By "ranging from £50k" I meant that in Liverpool you can buy houses for £50k (particularly in places like Bootle) without too much trouble. You can really get your investment pot to stretch while earning solid returns, as the rental market is buoyant!
  2. Sorry for the delay in replying - didn't have "notify of replies" on. Of course; we've already had this discussion in another thread, so answer linked below. From the other post:
  3. Hey James, Welcome to the forum! First off, you're in a pretty amazing position with that war chest haha. Where abouts are you're based? Re your question about 6%+ yield, my answer is resoundingly Liverpool. I could wax lyrical about the city all day, but honestly I think it's the hottest market for property investment in the UK, especially in terms of prices vs. rental yields. Here's some stuff on the city you might find an interesting read: https://www.citymetric.com/business/why-liverpool-s-economy-grown-faster-manchester-birmingham-leeds-3906 https://www.liverpoolecho.co.uk/news/property/house-prices-liverpool-going-up-16796751 https://technation.techcityuk.com/cluster/liverpool/ https://www.liverpoolecho.co.uk/news/liverpool-news/stunning-pictures-show-how-liverpool-15341168 https://www.telegraph.co.uk/property/uk/next-liverpools-booming-property-market/ I listed out some deals we've done in the city, too in another post if you want some concrete examples: Feel free to drop me a line if you have any more questions! Best, Jonathan
  4. Hey Clint, I've never used these guys before, but I absolutely think your concerns are valid... Happy to introduce you to my broker Tony, he's helped us get deals done that other brokers couldn't. Feel free to drop me a pm with your email and I'll make the intro if you want - he'll look after you! Best, Jonathan
  5. Hi, Welcome to the forum! You have one of the more unique portfolios I've seen - very curious to hear about your forays into Spain and Peru; how did these purchases come about? Not sure what your goals/strategies are etc., but here are a couple of books that might be of interest: The Landlord's Friend Using a Property Company to Save Tax 2019/20 No Money Down: Property Investing SSAS Pensions: Creating Extraordinary Compounding Wealth The Complete Guide to Property Strategies A Complete Beginner's Guide to Serviced Accommodation Commercial to Residential Conversions: The essential manual for property developers Survey Your Home for Structural Building Defects: For Homeowners, Property Developers, Students, Professionals and Property Purchasers HMO Property Success the Proven Strategy for Financial Freedom Through Multi-Let Property Investing Successful Property Letting, Revised and Updated: How to Make Money in Buy-to-Let Rich Dad Poor Dad Real Estate Riches I could go on (and happy to if you want!), but those are a few to get you going. I would say re: courses, be very careful... There are a LOT of less than scrupulous peddlers of property education, check out Mike Winnet's video on these types on YouTube: The training here and on the podcast are great, though! Hope that helps, Jonathan
  6. Cheers! Appreciate the kind wishes, and best of luck with everything you've got going on. Where do you invest, out of curiosity? Always keen to learn from people who've got years of experience under their belt.
  7. Sure! First off, thanks for the compliments on the site. It took a while to put together and still a work in progress - updates of projects done being something we need to get round to, so I appreciate the reminder. Here are a few deals we've helped clients secure recently: 1) Carisbrooke Road This is a recently converted block of 6-flats (our client's completing on it tomorrow). We negotiated a purchase price of £248,500 and our client is getting £2,550pcm in rental income guaranteed for 5-years because he's leasing all the flats to us! We're running them as Serviced Accommodation as the flats are near both Goodison Park and Anfield. We had had the Lettings Manager who manages our client's properties come in and estimate £425 pcm per flat, so that's what he asked us to pay him. We were able to negotiate the vendor down from his asking price of £275,000 by agreeing to take it from him before the work was completed, subject to the contractor completing all the snagging issues we identified, before money changed hands. Here's a link to the section in the Deal Brochure we sent the client listing the issues: https://www.dropbox.com/s/xm4uzow7bwpj1dw/Carisbrooke Road Deal Brochure.pdf?dl=0. We kept on top of it until all the work was done to our standards. Here are a couple of pictures from some of the flats (some of them were taken mid-conversion): https://www.dropbox.com/sh/k3vdd26l27w1qu8/AABCDaMu7sowgzAJXJ7-4SCKa/Apartment 2?dl=0&subfolder_nav_tracking=1, https://www.dropbox.com/sh/k3vdd26l27w1qu8/AAAageARPVcAGntg0MY8NJ2Ua/Apartment 3?dl=0&subfolder_nav_tracking=1, https://www.dropbox.com/sh/k3vdd26l27w1qu8/AACTih9e9R89VRJEwrCxv_4La/Apartment 6?dl=0&subfolder_nav_tracking=1 2) Morden Street This was a really nice little BMV BTL property. The vendor had sold the property, agreed to buy a new house and then the buyer of her home pulled out last minute. She came to us desperate to find a buyer. We negotiated her down to £55,000 (c.25% BMV) for an immaculate 2-bed, which our lettings manager evaluated will rent for £450-£475 all day long. Here are some pics: https://drive.google.com/drive/u/1/folders/1ayeEXZlrQNeO-tpRrglzNCJd-jcAQCiy 3) Bereys' Building A gorgeous, quirky apartment in the financial district of Liverpool, secured for £129,000 and will let out for £800-£875 pcm. Our client asked us to find him an apartment with solid rental potential, but that could also be used for SA if he wanted to down the line. This, of course, made it a little tricky as it meant we had to make sure that the building's lease actually allowed short term lets! We got a copy of the lease to make sure, and as you'll see from the pics below, it'll do great. Here are the pics: https://www.dropbox.com/sh/ovakf19dzoz0qre/AAAYdnBjc_7cgn5-8cmJL_pma?dl=0 We actually did a video walkthrough of this one as well, as it was an overseas client: https://www.dropbox.com/sh/338i766fjb8kgbk/AADPQUhCq1V8oooCHKJ1nGj_a?dl=0&preview=GH010124.MP4 4) Land Deal This is a £2.95m purchase price (negotiated down from £4m), £30m GDV off-market land deal we secured for one of our developer clients. Unfortunately I can't release too many details yet as the acquisition is ongoing, but it has planning for 198 apartments, 5 commercial units and underground parking! Here's a screenshot of some of the financials: https://www.dropbox.com/s/q1lwoko6yqm8wbd/Screen Shot 2019-10-10 at 18.40.05.png?dl=0 Here's the architect's CGI rendering: https://www.dropbox.com/s/h60sxib9lkhuxb7/BPSS CGIs.png?dl=0 We work extremely closely with an agent in the city who's also helping our client line up off-plan buyers for the units and we've already got letters of intent to purchase from investors in 4 countries. We're also looking to bring in a bluechip supermarket chain (Sainsbury's or M&S Food) to take 2 of the commercial units, and I suggested to the developer that he runs one unit as a co-working space given its location and am putting him in touch with a friend of mine who runs a successful co-working business in Barcelona, to hash out the concept. Here are a couple of deals my business partner have completed recently or are personally in the process of right now: 5) Imperial Court This was here in London. We worked with a tired landlord to upgrade his £750k flat on our dime, and added an extra room. We pay him a guaranteed rent each month and let it out to our own group of tenants netting £600pcm in profit. It was a lot of work, but we were pretty chuffed with the end result: https://www.dropbox.com/sh/xhj5zigwnjc1t8a/AAC-qhGU8W2nXEb7A8FsSMK9a?dl=0 6) Abergele Road This is a gem of a deal, in North Wales (I can't take any credit for this one, it was all my business partner's find!), asking price £179,950: https://www.richardbaddeley.co.uk/wp-content/uploads/2014/01/46-48-abergele-road-colwyn-bay.pdf It's a mixed-use unit with two shops on the bottom and two flats (one 3-bed, one 2-bed) on top. We bought this property for £101k using bridging finance (£107k after fees) - the previous owner ran out of money while redeveloping it and so we got it for a song. The coolest part of this deal is that we had a contact who alerted us to the fact that the local council are giving out 5-year, 0% loans as part of a widespread regeneration effort for property in certain parts of the city. We did a bit of work to reshape the property and maximise space, then had the building valued by a RICS surveyor at £140k which meant the council has given us £38,000 (interest free) to fund the remaining work! Cutting a long story short, we're going to refinance once completely renovated and commercial tenants in, pull almost all our money out and then rent all four units for a conservative £2,700pcm (we've already got tenants ready for the shops). We made a trial Airbnb listing for the top floor flat, and locked in £5k's worth of bookings in just over 72 hours, so we might use one as a holiday let. I won't bore you with more, but we've currently got: SERCO lease deals, HMOs, BTLs, flip/renovation opportunities (including a former library and a 24-bedroom care home in Farnworth Village with planning for 9 residential apartments), flats, residential portfolios, blocks of flats, land and mixed-use opportunities on our books at the moment - way more than we can handle on our own, hence why we work with a select group of investors to help them build their portfolios. Because we do volume, we also negotiate discounts for all of our clients. For example, our HMO manager usually charges 12.5% but Walton Maslow clients pay 8.5% per month. We've worked really hard to build relationships in the areas we invest, which is why we get access to so much off-market property (and inside information). For example, a few months ago, we were shown around Liverpool Waters - a £5.6bn regeneration project - by the lead developer, Greg. He gave us a guided tour around the site, told us about some of the businesses that have signed leases for the undeveloped land, what the council's plans are etc. He even showed us what its going to look like once completed, on VR googles: https://www.dropbox.com/s/tcqa1x1rg1x69jj/Liverpool Waters.png?dl=0! Hope that answers your question? Totally understand why you asked, though. Unfortunately, the property industry is full of cowboys - it's actually why my business partner and I decided to team up... We were so appalled by some of the "deals" sourcers had been sending us individually (as well as the poor service) that we figured we could do things better. We're not perfect yet, but we're working at it every day! Best, Jonathan
  8. Hi all, Fellow Liverpool investor here, pleasure to e-meet you all. In addition to investing, I also run a sourcing firm with my business partner, helping fellow investors who don't have the time or connections we have in the city to source off-market deals, ranging from 2-bed BTL's all the way up to £30m GDV land deals and everything in between. Happy to share war stories, tips, contacts or potentially help you find deals for your portfolio - anything goes! Feel free to drop me a line at je@waltonmaslow.com. Warmest, Jonathan
  9. Hi Andy, Welcome to Property Hub! Sounds like a great plan. Where abouts in the North West is your property, if you don't mind me asking? Releasing equity is far more tax efficient than selling the property ahead of a downsize, so you're on the right lines there. While seeking professional tax advice is always the best policy, I've found the Tax Cafe books a valuable resource: https://www.taxcafe.co.uk/property-tax.html. Also, if you need a mortgage broker who can help with the BTL mortgage, happy to recommend you to Tony, the broker we use in our business - he's first rate! Best, Jonathan
  10. Hi Karen, Brilliant, sounds great. Absolutely, we always like to jump on a call so we can get to know each other and make sure we can be of help. If you head over to this link and click top option, we've connected our calendar to our site, so that way you can choose a time for a call that fits your schedule: www.waltonmaslow.com/letstalk. If that doesn't work for you, feel free to drop me a line directly: je@waltonmaslow.com, and we can do it that way. Looking forward to talking soon! Best, Jonathan
  11. Hi Volkan, I concur with Conrad's points above - you do have to be careful with HMO's on the financing front, especially in areas like L6/L7 as a lot of the lenders are over exposed and are reluctant to lend on a commercial rental valuation basis. That being said, it can be done. We source off-market property (BTL's, HMO's, Land, Mixed-Use, Commercial etc.) for our clients in Liverpool and have done so for our non-UK/internationally-based clients, also. By way of example, here's an HMO we had on our books for client recently that'll net him 20%+ ROI based on it: (i) being a 6-bed which can let at £90 pppw, (ii) us negotiating the buying price down substantially & (iii) our clients getting a discounted rate from an HMO manager we have a relationship with: https://www.dropbox.com/sh/88fbr656xtitxfv/AAA2dIa0Nce7zaSBRwOuB_nta?dl=0. Key things to think about in your case, are: Having a top-notch broker with access to the entire market (not one who works off a panel) and isn't part of a network - you can tell if a broker is a member of a network, by scrolling down to the bottom of the page on their website. If it says "Appointed representative of xyz" (for example Openwork), then they're very unlikely to be able to help you get the deal over the line for a host of reasons which I won't go into here. Have a UK-based Limited Company and bank account - as an ex-pat, it'll be more tricky difficult to get finance in your personal name. However, if you've set up a Ltd company (if you haven't already), it makes no difference at all where you're based! Liverpool's a unique beast - we're hugely bullish on Liverpool's prospects as the next boom-town for investors, but you have to be very careful... Your need to have a deep understanding of the dynamics of each individual area, and even more importantly, your team (lettings mangers, maintenance etc.) has to be incredible - and you would not believe how difficult it is to find reliable people in the city, it took us months of work to broker partnerships for our clients! Yields in the city are incredible, though, so please don't be put off. Happy to talk more with you if you want and can put you in touch with our recommended broker, too. Feel free to drop me a line here or via email: je@waltonmaslow.com.
  12. Hi Chris, Absolutely, we run a sourcing firm with a specialty on off-market property in Liverpool (we've actually got some in Bootle on our books now). First off, you'll be able to pick up 2-3 properties for that price in Bootle! We've just helped one of our clients pick up a property for £52k, as an example. We also have a 3-bed, 2-bath that we've just negotiated with the vendor for at £65k that's just 9-mins from Peel Ports. We think this part of Liverpool is a criminally underrated investment region in the city given the huge sums of money pouring in. With this swell of investment comes not only long-term capital gains potential, but also the ability to rent out your property to contractors for anything up to £120pppw! We seem to be the only sourcers thinking this way, so we're cleaning up in the area for our clients... We've also got an amazing lettings manager (Nicola) who we pass all our clients on to - she gives our clients an exclusive discount on management, too. Happy to talk more/pass on Nicola's details if you want. Best, Jonathan
  13. We bad a similar problem with a client of ours for a deal in Liverpool. We recommended him to a broker we use in our business, and within 5 days we had the issue fixed that had taken nearly 10 weeks of cost and headaches. Happy to make the introduction, if you're still in need - just pm me your email.
  14. Hi James, First off, I think you've made a great decision investing Liverpool! Some data points for you: The amount of private investment pouring into the city at the moment is absolutely staggering: between 2017 and 2018 it was up 279%+ (Manchester's was down -6% for comparison). One of the biggest examples of this is the £5.6bn Liverpool Waters development; we were shown around the site by the lead developer and saw the future plans for the area on VR goggles - it's going to be incredible... To your point about international students, the retention rate of Liverpool's four universities is 10% (and rising), as graduates are drawn to the low cost of living vs. quality of life and the rapidly increasing number of businesses relocating to the city (Baltic Triangle is particularly hot with tech startups for example). As such, every year there will be an increase in domestic/naturalised Millennial/Gen Z graduates who can fill the demand for you properties over time. We actually haven't had many of our clients let their properties to international students at all - the demand from locals is massive (see next point). Liverpool has a historical under-supply of property, a fact which is only getting worse as Liverpool's population continues to explode; this means that the pool of generational renters is going to keep expanding, while low supply and high demand will drive up house prices. I could wax lyrical all day so I'll stop now haha. I genuinely don't think capital gains are something you should worry about over the long term, especially with your apartment being in prime city centre. If you look at Manchester as an archetype for what regeneration can do to house prices, it's a no-brainer to me that Liverpool will do as well (if not better), over time.
  15. Hi Janelle, We source off-market property for our clients, in Liverpool. We're of the opinion Liverpool's pretty much the best place to invest in the UK right now. We've spent the last 18 months building connections with developers, agents, lettings managers, politicians, business leaders etc. in the city and as a result have a steady stream of off-market opportunities come through to us, ranging from £50k BTL's all the way up to £30m GDV land deals! What type of property are you looking for?
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