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chrisrush

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  1. Hi, I currently have a pot of money of around £50k that I want to put towards a flip. The issue is that the sweet spot in my area in terms of likely purchase prices are around £65-70k. This means I won't satisfy the needs of a bridging loan as most are minimum of £50k. Alongside this most in this territory will charge 0.9-1.1% per month. As I am only in need of around £25k in finance I feel a great option for me would be a personal loan. I could take one out at around 3% per annum interest and pay it all back once I have sold the property. I know this isn't the done thing or what the
  2. Just a couple of things for Rob and Rob as they discuss Robert Kiyosaki in there next podcast. 1. If we should follow what Warren Buffett does, instead of says why don’t we all just buy Berkshire Hathaway shares? 2. Buffett selling bank stocks is due to the low interest rate environment and this being bad for bank margins. This probably gives us a better indication that Buffett thinks low interest rates will remain for a while. He can use gold as a hedge to this in case inflation does creep up which will supercharge gold returns before any noticeable interest rate increases benefitin
  3. Hi, I am currently purchasing my first buy to let property with a tenant in situ. The tenant has rented the property for 12 years and owned the property for the 12 years prior to that. When viewing the property I got on really well with the tenant but said to him that I didn't think the rent he was paying was high enough to make it a valid investment. The tenant then admitted to me that he knew what other people in the area paid in rent and that he was happy for it to be increased to that amount. That means that I would have a long term tenant, who sees the house as his home and look
  4. I have a pot of money to start investing and I am currently looking at either cash purchases to refurbish, re mortgage, and rent or just straight immediate rental properties that I would purchase through a buy to let mortgage. I currently work in a job that makes me a higher rate taxpayer. However in 6 months time I will leave this job and potentially have no or little income (I would definitely be a lower rate tax payer even with rental income). My question in with regards to securing a mortgage, tax, and deciding whether I purchase properties through a limited company or as an indi
  5. Hi All, I have been looking at the rent to rent strategy within the area I am currently looking to invest in but it doesn't seem to have as much upside as renting a property and letting it out as a holiday let. I've done a quick google search on this topic but can't really track any info down with regards to its legality and key considerations. I see a genuine upside in my investment area in terms of long term rent of a property and the upside of holiday letting, however don't have the experience or a mentor to understand the process more. Is there anyone who have experience in
  6. In the next few months I will have a £75,000 pot of money to start buy to let investing. I intend to purchase 3 properties with this pot of money (probably spread over a 6-18month period). I also intend to place a 25% deposit on each of these properties and borrow 75%. I have a number of individual circumstances surrounding this that I need advice on so I can work out the best way to proceed. Myself and my partner are both higher rate tax payers and therefore satisfying the initial borrowing criteria of income >£25k pa will be fine. However my intention is to step away from my job in t
  7. Thank you really appreciate all the advice. You couldn’t direct me to where best to look at those bridging finance deals that offer the ability to loan refurb cost could you? I’m still a year off starting and I think I would ultimately go down the broker route for that but the more I can look at things now the better. Thanks again
  8. Lets say I get a buy to let mortgage on a property that I am going to add living space to. Its already habitable therefore I should get a mortgage because it offers the normal rental opportunity. However I am going to add living space to that property over a 4 month period, not let it out at any point, and then sell it. So basically flip it. I know that depending on the mortgage product there could be early repayment charges so this could be a potential negative to doing this. However my main question is - does getting a mortgage on a property and then selling it within a few months and repeat
  9. That's fantastic Alastair, thank you. I'm a bit of a geek when it comes to getting base knowledge in as many areas as I can and hopefully those books will improve my ability to assess a properties values and renovation needs prior to a surveyors report. Many thanks for your help. Chris
  10. I've read through the book recommendations on the site and watched some of the videos. Some of the books are great and I have been motivated to move into property investment and educated on how best to do that to fit my goals. The strategy that I want to pursue will focus on refurbishment/renovation as I am currently gaining the skill set to do a lot of that type of work myself (currently on a City & Guilds plastering course). However I wondered if anyone could recommend the best books on property refurb/renovation. What I'm looking for is a guide on how to view a property and create
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