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REinvestor

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  1. is this still on your list to do? where is the property located? do you actually want to own this property , or just going for the income/mth on a LOA or even a R2R? unless there is something that I missed ... based on item 2&3, I wouldn't do this LOA. you are giving away too much for your ROI & tinme to profitabily based on investment I would walk, find a better deal if its LOA. if you can come up with the deposit consider buying it, 25% down, mortgage 75%, 3 yr term, interest only 25 year amortization 2.4% rate (zero lender fee) will cost you approx £100/mth
  2. @ jonathon, that makes perfect sense, thanks again for pointing that out. so why not use a sourcer to do the leg work for the novice 'wannabe' property investor' or even an experienced investor ... all for a small cost of doing business, saving T&E. for those wanting to do it the hard way, there is always the internet, searching & searching for properties, contacting agents, effortless time spent, costs involved along with the effort to try to find that 1/100 right deal. disclosure: I do not currently use, nor I am endorsing using a sourcer, simply stating 'there is always another way' that may work for some folks.
  3. 10 simple life learned habits ... - you can achieve what may seem to be the impossible. - keep an healthy mind, healthy body, love life, be kind to all living things. - live each day as it was your last one. - be yourself, be humble, enjoy your achievements, learn from your mistakes. - never hold a grudge or close that door on anyone or anything. - learn to listen to others, no matter how dull or ignorant, they will have their own 'life learned habits' that can make you think 'hey why not that'! - there is no need to prove anything to anyone other than to yourself. - do not concern yourself or worry about anything that you have zero control of. - if it doesn't fit, then don't force it. - be careful not to be that 'peter principle' person.
  4. based on what? there are so many factors & variables, to how many folks that have or don't have works pensions, private pensions, savings/ISA accounts, to those especially living week to week and/or have health issues. was the sun piece tailored towards the middle class rich? how many post age 66 have or need investment income or who in doing so want to risk that pot of pennies? for seniors with a mortgage free property, should they consider taking out equity to use in retirement to using that equity to further invest in something? take a senior couple that are recently on state pension, maybe they each get £168.25/wk or £336.50/wk = £17,498/yr, are either renting or are mortgage free. Are they richer than they think, above the sun piece minimum? in the nanny state, worse case, a senior couple outside London will get the guaranteed minimum (pension credit) of £255.25/wk + housing benefit if they are renting, along with zero council tax payable. can a retired senior couple with zero savings, zero pension pot, zero income tax, are they able to live/survive on the minimum guaranteed amount of £13, 273/yr? are most seniors using their bus pass or still keep up the expense of a vehicle? post age 66 state pension age, how many seniors are up to travelling & if they do - till what age? opinion: based on the sun piece, me thinks one doesn't need a pension pot or investment properties - just basic living from what is (rightfully yours) available from the nanny state in state pension/pension credit or other add-on's, that'll put you somewhere between minimum to moderate lifestyle
  5. @ john, that was a really good read & thanks for posting this as well as pointing out the details of 'what all could go off the rails', because my guess is most folks getting into property investment think its all 'easy money'
  6. @jamesguy85, agree with the comments & information provided by Matt & Jonathon above. which towns/cities are you looking to invest & the type of property, houses or flats - would it be single lets, multi-lets, other? would you be OK with leveraged investing, such as maximum mortgage to get highest returns? also when considering any investment take into account the reward for risk as well as any nuisance factor if you are going to be a hands-on landlord. my basic response to your OP question. lets take a property of £100k, zero mortgage (not including legals, sdlt or any clean-up costs for now) take the £100k, renting for £500/mth/£6000/yr gives you 6% gross, before deducting insurance, maintenance, management fees, voids/vacancy... other. on a £100k property with a 75% mortgage, your equity/money at risk of £25,000, the gross return minus interest only mortgage could be 25%++ depending on the rent minus voids. suggestion, look close to home, see what you can find within your budget in terms of property returns based on rental income. Matt's hands-off model appears to net him £7026/yr on a 75% mortgage, his £36875 investment/money at risk = 19% net, which is really, really good. when calculating actual return on investment, I believe folks should include all out of pocket costs/expenses, such as any agents fees, legals, sdlt, conveyances, appraisal, mortgage set up cost, fix, clean & repair etc before renting the property for £xxx case by case, individual to individual whether they want to leverage an investment or take the risk in property investments. Good Luck to you.
  7. a few questions, maybe fill in the blanks. do your parents know that you are asking your question on a forum? how old are your parents now or will be when they're retired or are they now retired collecting state pension or other pensions? do you know what their own intentions are with respect to the 1.5 million property? do they live in their own mortgage free property or are they renting? is the 1.5 million property portfolio one or two properties? do they need to sell the properties? would they be OK just leaving things as they are & using the income from the properties to live on? should they sell the property what will be the capital gain amount that they will pay & will the net amount even if its in a zero interest bank account drawing 40k/yr + state pension, how long will it take to burn through the money from the sale?
  8. given your previous response above (see bold highlights), the breakdown of your questions & response to each of your questions above, are these responses helpful to maybe clear some of your thoughts on any of your future property/refinancing ventures or is there something that I & other replies above have missed?
  9. your question on remortgaging, based on your numbers by property portfolio by country you are currently leveraged/mortgaged as follows. UK property currently 27.42% mortgaged. might be room there to remortgage/take equity out, possibly an additional up to 46% more of the current UK portfolio value of £1,415,000 of which would give you approx £650, 000 in cash. this would get you to approx £1,038,000 or 73.4% mortgaged on the UK property portfolio. You need to contact a couple brokers see whats doable. my suggestion see what you can do to get remortgaging on the UK property. also depends if your portfolio is in a limited company & maybe by remortgaging (deducting more carrying charges such as mortgage interest) this may lower your tax bill. consider selling the Peru property, use the cash to buy more UK or Spain property
  10. @matt, thanks for filling in the blanks. are both these properties in your limited company or personal holdings, if personal, any plans to move them to your limited company?
  11. matt, combined that's approx 19% net on a £36,875 investment/money at risk, is really, really good.... well done. like to ask if you could fill in some blanks? have/did you included legals, conveyances, mortgage set up & stamp in the purchase prices to get to the net ROI % of each one, or does it matter? how are you dealing with any income tax (if any) on these investments? Thanks
  12. lususnaturae, welcome & thanks for posting your 'diverse property portfolio of investments'. comments as follows... on the numbers ... eo&e assets 1,765,000 liabilities 524,000 net assets 1,241,000 gross income 8375/mth -or 100,500/yr in mixed currency to asset value gross yield 8% based on the numbers only without calculating the FX question - how do you personally manage (is it you alone or a group of people) all these properties, the time, & effort as well as the cost involved? - what is your net return pre-tax after all expenses? - with such a large portfolio are you satisfied with the returns, if not what if any would you change? - why do you think that you need to educating yourself if this is all about 'just the numbers' ? - have you considered any consolidation or inventory rotation of the properties, example: keep the ones that are easily manageable and/or ones that net the best return? Dialogue would you care to discuss further with the forum, maybe expand further your own thoughts/ideas on the diverse portfolio ?
  13. Paddy, with all due respect I was complementing you based on the fact that you had indicated that you already had two income properties & that you had 20+ years of solid business experience. my guess (a wild guess ) is there are many younger folks on the hub forums that are trying, starting out to doing property investments for passive income to wealth building. There also appears to be seasoned property investors, including trainers, as well as property renovators, property sourcer, property mangers/estate agents to those 'professionals'. even at my age 72, I'm here looking & learning new things, contributing where I can, asking questions, dialoguing, PM-ing posters for information/sharing, because I believe its not possible to know everything about investing/investments - someone will always come up with a better, smarter way. good luck with any investments that you are looking at to do.
  14. good points there conrad. Why would 'Time rich, wealthy folks' (especially middle age to seniors) even get into property investing with all the T&E, stress etc etc? for education & information purposes below - this is not advice to go do. there are other ways of investing in properties or mortgages such as UK REIT'S (a google is needed) or what about something like a company & there are many like them 'The High Street group' Check companies house records always do your research & due-dilligence before investing in anything https://bondreview.co.uk/2018/01/15/the-high-street-group/ https://www.fjpinvestment.co.uk/high-street-group-investment-review/
  15. @ matt n, in the links below as a general guide 'for information purposes only' as matthew posted, 75% would be the general guideline. https://www.themortgageworks.co.uk/lending-criteria/income https://www.themortgageworks.co.uk/calculators/max-amount-to-borrow-calculator
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