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conrad_paton

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About conrad_paton

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  1. Hi May I add a plan 3? Buy own home, use your skills and renovate/improve and/or extend. Then sell or refinance (subject to lenders criteria's and earnings/affordabilities etc) Just a thought? Conrad
  2. Define wall?? You are talking about the boundary wall that is suffering water damage or the rear wall of your house. If boundary wall who has responsibility over its maintenance? If your neighbour then you cannot force him to repair it. I would go down the council mediation route, before any court. If you have tried mediation and apply to the court as a 'last resort' your situation may be looked upon more favourably by a magistrate. However council mediation is usually outsourced, and can be like hitting your head with a soft spongy mallet while expressing your fluffy
  3. Hi Ryan, We're happy to help out if we can Conrad
  4. Hi, You intend to convert the living room to a bedroom? With a corridor I assume? Coupled of points ...what is the size of the flat overall? How does this compare with 2 bed room flats in the block/locally? How big will the reception space be, enough for a kitchen, dining table and sofas etc. Think about you end valuations. Think will it be big enough for a 2 bedroom flat? The plan you uploaded is that taken from the lease? Sorry to go over old ground ^^ but by definition of 'alterations' you just have a starting point of originality. If your rooms are not lab
  5. Hi Again, In a nutshell ...yes. As I mentioned on this forum before my current strategy is buy BMV, rent, evict, develop, sell AMV, I do not hold onto long term investment properties (5 + years) at the moment. I have in the past. I understand the advantages of leverage, I use finance in my stragegy, but with a clear exit. I am just trying to answer your question. Your idea of continuing to extract equity out of your portfolio is fine (subject to capital increase and lending criteria) but the stragegy itself is based upon hope. Hope that the market increase
  6. Wow that is shocking! I would complian to your local planning department and show them these photographs. You have boundary issues here and tempory structures without proper consideration for neighbours. None of what you show here is allowed. Boundaries have to be a maximum of 2 meters high. Tempory structures still have to comply with basic building regs and allowing surface/rain water to flow onto neighbouring properties isn't one of them! Your council should act on this complaint. If not you have the right to complain to your council for their lack of action.
  7. Is this roof overhanging into the garden of your property? Who had responsibility for the boundary wall? I'm struggling to visualise this sorry? Maybe upload a photo please? If love to help more Conrad
  8. Buy, In 25 years will you still be renting waiting for prices to drop? Or will you have paid off your mortgage and wished you purchased sooner than you did? Conrad
  9. Pay yourself enough to live on during the refurb. Pay yourself a wage from the profits/what's left.
  10. Hi Richard, You have answered your own question..let me explain.. So you gain when prices you up. Yipee! Ok..so your gains are going to pay for your lifestyle, not your ever increasing debt. Put simply, when the market is against you and when prices drop, you may not be able to refinance and draw out extra cash. Your new lifestyle suffers due to a reduced pension top up. When your mortgage term ends, and if the market has dropped, and you have not paid down your debt (cos it's been topping up your pension), what is your stragergy for paying back the mortg
  11. Hi Jayha, Start with the freeholder's registered title and plan, contact them and see if you can get a copy of the lease and lease plan. If not you may need all the title registers and plans of all the leaseholders to gauge how many parties have rights/ownership of this land. Work out exactly who has what rights over this land before stirring up the pot and writing to leaseholders in the initial stage. Depending on the wording of the lease, I would contact a specialist leasehold solicitor to give you an idea of legal costs before you do anything else. You may have to a
  12. Hi Alex, I have much experience of this. How are you intending to convert your 1 bed? Move the kitchen into the lounge and convert existing kitchen into a bedroom? Do you have a lease plan? Are the rooms labeled on the plan? Or does it just show am outlined area for guidance as to your flats location. This matters. You also need to read and understand the definition of your property as written in your lease. What is included and what it doesn't contain. Asking the freeholders permission isn't a automatic rejection. It can take time and be quite expensive with insu
  13. Hi Dan, ROI is the way to go. Gross yield is pretty meaningless. But when considering multiple properties to purchase with a view of renting them out, I always choose the most fitting to the needs of most residents in the area. If I loose a little ROI but gain more certain tenancies with choice of tenants and little or no void periods then to me it's worth it. Remember gross yield assumes full occupancy and some people include voids etc into their ROI calcs and some don't. As long as you use the same formula for ROI on each property you are considering then you can co
  14. Hi Alfie I'm very happy to chat to you about this. I'll send you a DM with my contact details on if you wish to contact me. Conrad
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