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Matt Hall

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Profile Information

  • Location
    Wigan
  • Areas I invest in
    Wigan, Bolton
  • About me
    Former mortgage advisor, 10 years working in financial services and CEO of a property investment company
  • Property investment interests
    Broad interest in a range of investment deals, standard high yield BTL are preference, but will look at any deal if it stacks up and fits my strategy
  • My skills
    As a former mortgage advisor with 10 years financial services background and a property investment business I've got a good rounded knowledge of finance
  • My goals
    Sustainable long term income through property, and build my business to help others do the same

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  1. Where abouts in the North West are you looking at relocating to @alex-bond? I'd be happy to catch up with you at some point if you want to talk anything through or bounce any ideas around or just to help in any way I can. I'm from Bolton originally, currently live in Wigan but am regularly between Manchester and Liverpool so if you are ever up this way feel free to give me a shout (might need to be 2 meters away doing star jumps in a park at the moment... But sure we can figure something out!)
  2. Plan was to try to be ready for the next one around July when my wife is back at work after maternity leave, but things are slightly more up in the air at the moment. Kind of viewing it that I want to be ready so I can jump in if there is a great deal to be had, but equally don't mind stalling a little to see how things are looking. Think I'll assess the supply and demand in my key areas and make a call from there. I've got a few shortlisted that have been added to portals over the last month, already assuming the majority are motivated sellers if they are keen to sell up at possibly the worst time, with an eye that if they haven't sold by July and more are appearing on the market there may be discounts to be had as they are less likely to stand out. What about yourself?
  3. First challenge for me was figuring out how to let out a property during all of this. My tenant gave notice early March and moved out Good Friday, so it's taken a lot of adapting and flexibility to find a letting agent, find a tenant and do everything necessary (especially when all agents appear to be working completely remotely - not ideal when you want to get a property on the market!). Despite all that managed to ensure it was only vacant for 17 days, which in this market I'm absolutely thrilled with! I've also been switching my focus a little during this down time to the stock market. Since mid March there have been lots of opportunities there to make some money. Always had a reasonable understanding of how it all worked, but been learning in a lot more detail now and it's helping to build up the pot for the next deposit when things are a bit better! A few ups and downs as expected, but profitable overall!
  4. Hi Michael Some good points to consider above! I'd also throw in a different perspective. Firstly, if it's all above board then what a generous mentor you must have! If you don't want the money send them my way The question I would be asking though is what is in it for them? As you say, the 70k could stretch to deposits for 2 BTL properties (assuming you can get the mortgages done) so you'd hope to leverage much better cash flow than the £145pm and benefit from 2 lots of capital growth over time. Sounds fantastic at your end, but why wouldn't the mentor just do this themselves? They essentially take on the risk of a £75,000 debt on a P2P loan with no guarantees to simply hope to break even. The old saying of if something seems too good to be true it probably is might be relevant here. If you know this person well and fully trust them then it might be a different story, but please just try to figure out what benefit they will gain from it to see if they have any other motivation than taking on all the risk for a best case scenario of 0% profit
  5. All depends what and where you are buying. For example, a 75k property would need to be achieving just under £375pm in rent to pass those stress tests you've quoted (which is £100pm less than my lowest performer) so generally not an issue. Also, not all lenders work quite as high as 145% coverage so could have a little more flexibility with the right lender. If you are buying more expensive stock where the margins are a bit tight, it can be a bit more tricky. If the rent doesn't cover it at a stress test rate then although the lender is probably more cautious than you are, it might want to make you consider what would happen if rates actually did start to move up. Lenders are only interested in the affordability of repaying their debt so won't factor in an expected capital growth so its all about the rental coverage vs the mortgage for them as a general rule. If despite that you are happy with the investment you've found then the simplest way around this issue is to look at fixed rates of 5 years or longer, as the stress rate rules don't need to be applied by the lender (although some of the more cautious still will...) Hope that helps
  6. Hi Sandra. I'm a big fan of Wigan. Also on the HS2 route, and already well connected for direct trains to Manchester, Liverpool, Leeds, Birmingham, London, Edinburgh (the list goes on). Its pretty much bang in the middle of Manchester and Liverpool so double potential for the ripple effect from those up and coming cities. Values are still very good here too with solid rental demand. Feel free to have a look at some of my previous posts as I've discussed this with people at length previously, or get in touch if you want to discuss any further
  7. Hi Tom Boring answer I'm afraid, but there are quite a lot of variables to factor in on this one. To start with - how much income would that realistically take? How soon do you want to get there! How hands on would you like to be? The flipping vs standard buy to let strategy would vary depending on a lot of the above. The Ltd company option would also be dependent on this plus your current tax situation. There are lots of other considerations too, but the above should help whittle down your options a little. 100k certainly gives you options though so that's a very strong starting point for your journey, with proper planning and strategy you should be well placed to acheive your goals.
  8. I've got a couple of investments in Wigan and feel it ticks a lot of boxes. 50k would cover you for 2 deposits in Wigan with plenty of options round the 75k bracket. Solid rental demand and good yields to be had. Its also on the HS2 line plans so could benefit from a bigger boost in growth in a few years once that all picks up. Geographically it's also a potential candidate for HS3 if and when that materialises, no guarantees but as its already well connected with lines stretching from London to Scotland, and heading directly to Leeds, Manchester and Liverpool etc it seems like it could be a logical choice. Even if not, it's already very well connected
  9. Hello Yes this is definitely possible, and might give you a bit of negotiating power with the purchase price as a cash buyer. You can move quicker than the competition, and there are less risks of your purchase falling through. One slight draw back is that a majority of lenders would only accept a remortgage after you've owned the property for 6 months. There are some that would allow it sooner, but with fewer options the rates would generally be slightly higher. If you aren't time pressured though then that's not an issue. Another consideration is that you'll pay legal fees on the purchase, and then again on the remortgage (unless you manage to find a lender where these are included). If you acheive a genuine discount, or a quicker purchase from cash though then the reduced cost/quicker start to the rental income would hopefully outweigh this. Nice position to be in either way as it gives you options
  10. Before you panic or over think this one, the simple answer is that you've misheard what he said (it's around 11/12 minutes in to the podcast if you want to double check) He predicts there will be a stock market crash or correction, not a crash/correction in the property market.
  11. Another reasonably short term option would be putting the £12k in P2P investments. Maximise sign up offers, let it grow over the year, whilst saving your other £1kpm and you'll be good to go on another property in 12 months
  12. Always happy to help Ben. Seems you've got a very good start on things with a relatively broad experience, but happy to bounce ideas around and challenge your thinking and try to help you out. I've got a history in finance and mortgages and run a property investment business now too, along with maintaining my own portfolio. Always happy to speak with like minded people, so give me a shout if I can help in any way
  13. That's often the case. My first was also my first residential home, but is the worst performing in my portfolio from an income perspective, so I'm also considering selling and reinvesting in something that is more suitable for my goals. Good luck with it, and let me know if you want any help or second opinions with properties.
  14. Another option would be consider selling this property, buy your new one (thus avoiding the stamp duty hit on the more expensive property) and then look to buy another specifically with a view to renting it out when you are in a position to do so. Although you'd have the selling fees, and stamp on a subsequent rental, if it's in a similar price bracket to the current property you should work out better off (obviously run the figures to make sure). Chances are you'll be able to plan a better property based on your goals. You'd also be able to plan more from a tax perspective, i.e if you are a high rate tax payer it may be worth looking at buying the next as Ltd company. Either way, starting from scratch if ROI is your priority you'd hopefully get a much better return than 6% with a clean slate. Hope this helps Matt
  15. Well worth thinking about as early as possible if the plan is to build a portfolio, figure out what is right for you and next of kin, however... We all know taxes and circumstances can change over the long term, so I'd say plan what you can for now, but don't agonise over it too much as it might ultimately be out your hands if things change
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