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About arjunb

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  1. As above, really. Any idea? Property is in Merseyside & the other side of this wall is a bedroom wall with a similar looking patch. The damp seems to be coming from the ceiling, roof, or somewhere like that. Was wondering how much this might cost me, at most. Trying to use this to make an offer on a property. Thanks! Arjun
  2. Hi all, I'm buying a property as above. My conveyancer is in the process of obtaining the AST contract from the vendor's solicitor. Was wondering whether it is acceptable for me to continue the preexisting AST contract with the preexisting tenants upon completion by simply sending them an addendum letter that overrides the details of the vendor (my name, my address, bank details, rent review, additional clauses, etc.?) Thanks! Arjun
  3. Thanks Michael. For the first point, is that £5k-£7k including both the bathroom and the kitchen? Or £5k-£7k each?
  4. Hi all, Am trying to buy an auction property that needs refurbishment, but I can't make any viewings for the property & so I can't go round with a builder. I'd appreciate it if people could give me a rough estimate of how much I should expect to pay for the below in Liverpool so that I can decide whether the project is viable. New kitchen and bathroom Painting, plastering and decorating throughout the house New electrical wiring New mid-grade combi boiler Cheers! Arjun
  5. Thanks Julia! What do you mean by "proscribed documents"? Arjun
  6. Hi all, I'm trying to get a better understanding of the process of buying development properties by auction. Could someone comment about the below please? Find a property that I wish to buy. Get the legal pack, send it to my solicitor to look through. Get bridging finance sorted. Get a homebuyer's survey to figure out what development will be required. Bid (& hopefully win!), when the gavel falls, pay 10% deposit, auctioneer's fees. On auction day, inform the bridging finance broker and solicitor & get them started with everything that's required.
  7. Hi all, Have realised that many auctioneers don't do viewings on weekends & I work on weekdays down South, so I wouldn't be able to attend viewings between Monday & Friday. Could I get someone local to view properties for me? Of course I will view the videos, but is it a good idea for someone to view it for me? Cheers!
  8. Hi all, As above really. Looking for recommendations since my current broker doesn't deal with bridging. Cheers! Arjun
  9. Thanks Alastair. What I understood from the builder was that it was back to brick. Perhaps he was lying, or the job was simply shoddy.
  10. I feel as though Doncaster is undervalued with a great deal of room to grow over the next decade. I'm going to delve into my reasons below. Inward investment into the town. The town has huge inward investment plans from the likes of Amazon and IKEA. Hundreds of jobs have been created in the local area by massive distribution centres. The importance of such distribution centres to logistics in a post-Brexit Britain cannot be understated. A quick drive through Doncaster shows how much development, including residential property, is happening in the local area. Not only are there enormous
  11. Hi all, As above, really. My home was fully refurbished in 2017 by a developer and there are now cracks showing through the plaster & paint on the walls throughout the house. In some cases, there are cracks in the ceilings too... To be clear, these are hairline cracks, not massive gaping ones. Was wondering what the solution would be & how much £ are we talking about? Can I get some to fill these cracks, or do I need to do a full redecorate job? & can I leave it for a while and do it when the problems get a bit worse, or do I need to get on with it soon (stitch in time sa
  12. Hi Ollie, That's not usually how investors execute the BRRR strategy. Commonly, bridging finance is used to buy the house in January, not a standard BTL mortgage. The reason for this is BTL lenders don't like investors refurbishing a property using this type of finance. It's yet another weird restriction that became common in the lending market after the GFC. Indeed, this restriction caused the proliferation of bridging finance that we see today! Indeed, there is nothing stopping you from using a BTL mortgage for this acquisition in January. You have two options: ask for addi
  13. Hi all, I wanted to understand how important the above is. Of course, I understand that for the first one, two or three properties, an SPV means nothing & the Director's ability to get credit is all that matters. But what about >5 properties? >10? Surely if the Director's personal employment income is, say, £40k, & the SPV has a net profit of £100k per year, then the SPV's finances is far more important than that of the Director when trying to get a mortgage? Would like to know. Cheers! Arjun
  14. Hi all, I'm currently going through the conveyancing process on a property with Universal Credit tenants in situ, which I plan on keeping in the property. The vendor has told me that she is paid rent directly from the council and not from the tenants. I wanted to ask how I should approach this when I get the keys of the property? Should I simply draw up my contract and take a couple of hard copies to the tenants for them to sign on the day of completion? & then will they inform the council that the landlord has changed and my bank details? Or should I? How about whenever the
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