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michael adams

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About michael adams

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  1. Hi there, So I have a fairly good sized portfolio but doesn't quite provide enough income for me to quit my job yet. My own residential home as no mortgage on it and worth ~400k. I have a Resi mortgage agreed on the property of 300k as I was planning on buying a run down bungalow near our house to then redevelop and move into. Then subsequently I could either rent out my current house or sell. Essentially that renovation option fell through so I am now in a position where I could accept the mortgage and use the fund to extend my portfolio. On one hand I am in a great position to be mortgage free but on the other hand I 'could' release funds to extend my portfolio and potentially reach my goal to give up my day job. Just want to open this up to people's thoughts if I may. Thanks
  2. Sounds like a great idea to me. Netflix is growing all the time and the world of TV watching is changing. People want to consume media on demand so would be a great perk.
  3. Quick Question. I am looking to flip a property through my company and just want to understand how the profit works. Do you get CGT as well as Taxed when you take money out of the business? Thanks in advance
  4. There are a few companies that can do these types of things for you like https://viewber.co.uk/how-it-works/landlords-and-investors Other than that you could try to find an investor in the area you are looking to purchase that you could work with. I assume you will be looking at a letting agent to manage the unit once complete so that could be a route to go down. i.e. find a letting agent who could be happy to help with a view to putting that property through them going forward. Hope this helps
  5. Hi There, This is fairly easy... I would suggest you look at how much you can withdraw from your mortgage plus any current capital. Then look at unit costs in the location you are looking at as this will be wildly different. i.e Unit costs in London versus bolton can be a world apart. So then look at some potential properties and pull costs together to purchase factoring in all costs, 25% deposit, legals, Stamp, etc. then will give you a number. You can then see the delta between the two. Or you may be able to move forward with multiple units. Ideally you want to look at BMV so you can then look to recycle some of your money in the future. alot of it depends on current capital available v the potential property v the deal (i.e. are you renovating to bring money out earlier etc). you can plan this at a high level making a few assumptions. Hope this helps
  6. Hey, looking for for a good contact to talk to about bridging finance. can anyone help please. Many thanks Mike
  7. Hi there, this will be more for buy and hold and probably up north rather than south. thanks alot Mike
  8. Hi there, I need to quit the rat race.. it's driving me barmy. I have a few properties providing some good passive income however I am looking at way to get out of the 9-5 and move more into property. I have just worked out that I have about 30k ready to go. Is this enough to complete a flip to increase capital? Thanks Mike
  9. Hi, I am looking for someone who may have some experience with the best ways for an overseas investor (with UK Passport) to invest in property. Assume a Ltd company makes sense! Other thoughts are around mortgages, banks accounts etc. Any help really welcome Kind Regards Mike
  10. Hi there, i currently use cater allen as a bank account for my ltd company BT looking to change. Any recommendations? Also looking to start a Lettings agency. Can I use the same bank account for that also or do I need a special one? thanks
  11. Hi, My Brother in Law has a UK passport but was born in South Africa and still lives there. He's doing quite well out there with his company and wants to invest some of his money in UK Property. After discussing my portfolio with him he's keen to move forward with this so I am trying to work out the best way for him/us to do this. Would a limited company be the best way to do this? or for him as an individual? Thanks Mike
  12. Interesting post. I spend a lot of my time think about how I can get out of the 9-5 and do my own thing. But my problem is what is thaw own thing? what is it i want to do? I don't think I will find it but the one thing I have realised is that I want to be my own boss and live more flexibly so I should just find something I have some interest in and see what happens. I have been a landlord and property investor (in one way or another) for 20 years and have a decent portfolio. It's an interest of mine so often think I should pursue my own thing in this area. Why not? I am not sure what is holding me back? maybe I should just go for it. Take that leap. Start something and see what happens