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escapo rat race

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  1. Hi, I can't really add much really, only that they have contacted me also regarding One Baltic Square. I do seem to recall also that they contacted me probably a good year ago also about the same development, so if it has been hanging around a while, might be worth investigating the reasons why. Salespersons seem pretty keen on continuous chasing also. So, not sure, chasing and being on the market a long time are not the best signs are they? Also, the fact that very large deposits (up to 50%) prior to completion needs serious consideration. That being said,
  2. I suppose I wont be getting any prizes for the exciting unique title and I'm sure this question has been asked LOADS of times before, but sorry, I'm going to hit the infamous topic again. So, typical story, just received my 2018/19 personal tax return and the section 24 tax return is really starting to bite now, so I simply want to get my two BTL flats into my Ltd company property account. The very approximate details are: 2 x flats worth around £135 K each. Don't have the funds in the Ltd company to buy so need to be some sort of Directors loan or somethi
  3. Hi, I am currently selling one of my BTL to a very good relative which thankfully allows us to talk! I have received back "additional enquiries" as part of the conveyancing paperwork and have received a mountain of questions to answer about the tenant in situ. I can see that these questions will go on forever and to be honest I don't have answers to them all anyway. Even when I do respond, I know they will take a month then come back for more clarifications. So, my pragmatic head is telling me something here...… Would it not be easier to just say the tenant
  4. Hi, Really appreciate some advice on how best to handle the following: Currently I have a Private Ltd company that is solely in my name that is currently being used for the purposes of funding property flips where I get a guaranteed ROI figure for a totally hands of approach. Kind of a loan angel vehicle, I am planning on going into some JV deals soon, property flipping with another partner, everything down the middle. I really want to do this through the same company as I have, as everything is set up (accountant / bank accounts etc). I also want to keep the optio
  5. Hi Derek, Thanks so much for yourt response. I have been giving this some real serious consideration. I really did pick up on your point regarding tying a load of cash up for such a long time with no return. Fine - if you are cash rich and are looking for a luxurious development. But if I invested, this would really bring my plans to a halt (in effect) for a period of almost two years. I still would really like Liverpool, but need to find a deal that does not tie up so much 'dead' cash for such a long period! Thanks for your input. Chris.
  6. Hi, Just a quick one, I'm looking at moving North along with the masses and been looking at Parliament Square in the centre of Liverpool which is a very nice facility along with Spa, Gym, Cinema and all the trimmings. One Bed flats start from around £130K and are very high spec. I was just wondering if anyone has experience with RW invest or knows anything about this particular new build. Or indeed the devloper - legacie. RW invest require a 50-25-25 payment plan. Which means 50% exchange, 25% stage Mid June 2019 and then 25% on completion (think early 2020).
  7. Hi all, Really appreciate a second opinion on a comment from my Solicitor. I am in the process of buying a lovely little one bed new build in Southampton and an issue has come up that I am inexperienced with. The 'long stop date' for the entire build is set to September -18 which is more than likely way too far in the future as the build is moving quickly and from what I am advised by the agent will be complete by the end of the year. The flat I have chosen is moving quick and expected to be complete by the end of September this year (2017) which I have no r
  8. Hi Tim, Firstly - thank you so much for an unbelievably useful detailed response. This letting agent really is the Nightmare letting agent you describe, I have held back on my original post, but some of the stuff you mention is hitting some big notes with regards to what they have been up to. To name but a few: Fully managed, yet never received any inspection reports. I am now almost fully convinced that the deposit has not been tied in an official deposit scheme (I have been talking with the tenants and they are unable to provide evidence of this). When I did receive payments in the p
  9. Hi Richard. Oh my God! A break through at last, forgive my ignorance but I was unaware of the redress scheme (BTL Novice), I have just read the Government sheet on it and as you say the requirement is mandatory with costly penalties for not being a member. I have been feeling very isolated on this - me versus the agent. This agent is impossible to deal with and plays hard ball (well not); simply does not respond to anything. I have a recorded delivery letter in my bag today that is going to be sent today, but this little redress scheme will be a nice little addition to the letter b
  10. Hi all, I am having a complete nightmare with a letting agent who I have effectively fired for being hopeless, they are now holding onto 4 months rent plus a deposit. Without going into the full details they are simply refusing to answer any email correspondence / phone messages etc. The total sum is approaching 4K so I cannot just let it go. Unfortunately I did not do enough research at the start and they are not regulated by anyone, so I am considering going down the legal route. Can anyone recommend a good solicitor who specialises in this area who can possibly assist, I obviously n
  11. Firstly, apologies for not being as active in this great forum as I should have been - it's been an incredibly busy year outside of the property world. I have just returned from my family summer holiday and spent plenty of time catching up on the great Rob's podcasts, I confess that I am now totally hooked again and ready to throw everything at this fabulous journey. First, I have a problem that I am completely stuck on and need some serious help with please: I bought my first two BTL flats last year that I researched to the point of being ridiculous, I took the plunge and they rent
  12. Ok, here's me looking for some browning points! The 2 x Rob's. Joking apart, I have been in contact with them both, and they are both very good genuine lads!!!! what is it you need, they may just be able to help... Chris.
  13. Hi Mark and Adrian, Firstly - thank you for your comments. A little update and took some advice from your recommendation, I actually sent them a letter advising that I was moving agents (i.e. not thinking - but doing), and they cam back with a commitment / promise to pay up on time each and every month. I have since responded to that email and said, we will give it one more shot, the moment they default from the promise dates - I'm gone!!!! I really do hope this is the rattle they needed and all goes well from this point forward! I don't know why, I have a suspicion that it may jus
  14. Hi all, Fairly new to all this and maybe got of to a slightly less than perfect start of hopefully a reasonable portfolio. I bought my first little BTL flat around 4 months ago and have set up with a local agent on a fully managed agreement. In simple terms, without fail I have had to chase each and every month for my rent. They don't really give a reason for non payment and always end up paying in the end, but I do wonder if I did not chase whether the rent would be paid at all.? In fact, this month I left as long as possible just to experiment and managed to get almost a whole month overdu
  15. Thanks Both to Tim and Ayshek for your suggestions. Since my post I have been on touch with the lettings agent and he has advised that as these are new flats, we should use the fact that Unfurnished, and possibly 'furnished to the tenants likings' as a possible feature. Not saying the sky is the limit, but obviously, if we can get another £50 / month or so income for the sake of let's say a round coffee table instead or square, then I'm on board. So the update is, currently unfurnished, but can be furnished to the tenants likings if they are willing to pay. Will keep you all po
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