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  • Location
  • Areas I invest in
    Northwest England, Stoke on trent
  • About me
    Starting out property investor looking to build skills and network with other like minded people. I run my own Garage repair business and Vehicle sales business for many years. However I am looking for a change over the coming years and want to invest in property in buy to lets and refurb projects.
  • Property investment interests
    Buy to lets, Refurb refinance, Refurb and Sell, Maybe try my hand in the near future at HMO
  • My skills
    Some basic finance skills, moderate Legal skills, My partner works in conveyancing. Good communicator and have a small team of people with trade skills.
  • My goals
    Small portfolio of buy to lets to bring in a stable income over the next few years. Also interest in buying to refurb to sell to increase cash flow and see where things take us.
  • Interests outside property
    Cars, Classic vehicles, Family , History, Travel, Quiz, Eating out, Property, Target Shooting, all types of business I live to make money and thrive on understanding how businesses run and operate.

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  1. Hi there I am about to purchase a property in crewe with a look of refurbing and going down a Rent 2 Buy route. Anyhow I am from crewe originally and was schooled there so I can give some background to this along with knowledge of friends who have multi lets in crewe. 1st of all IMO the HMO market there is oversaturated, every man and his dog has gone into HMO's mostly congregating around the Ruskin Road, Walthall street area which consists over large Victorian, Edward style terraced villas with large rooms which can be easily made into 4/5 beds and picked up with little work for circa 100-120k. They are just not letting and friends of mine who have HMO's are selling or not getting into anymore, that horse has bolted not helped by the campus closing. However on the flip side the standard lets are in high demand, put a property on Open Rent and you will have it gone in a week or less. Rent is no to bad with small 2 bed terraced fetching 495 in ok condition and with more modern 2 beds in some area getting 595pcm. Bad areas, West street, Nantwich road (towards station end), Eddelston road and Side Roads of these streets, Also Leighton park Area with exception to new build estates, and timberel Avenue and smith grove are also very bad areas. Good Areas - Barrows green, Coppenhall, Remer Street, Large Areas of the sydeny estate, Wistaston, Hungerford road not bad, Upper end of Broad Street ok, Mablins lane Area, Bradfield road isn't to bad either. There are some cheap houses to be had there, keep away from flats I have been tempted by some cracking new builds cicra 2006 builds which were sold for £120k new now transacting for 60k Mark, most have got maintence firms in running the blocks, bleeding them dry, one flat I looked at had a £125 per month maintenance charge. God knows what they were doing with the money but it was not maintained as the place was in bad state for a 13 year old development. If you would like any pointers on area if you go to view anything, drop me a message be happy to assist Lee
  2. Many thanks to getting back to me, I think its a case of waiting a month or so until the property comes up and then speaking to a broker. I am in the position where we have a lot of savings but low income, my self employment has only just got going the last year or so and my other business a limited company has been trading for 6 years but we reinvested the profits pulled out directors loan and small dividends. My wife is a training conveyancer in her final year so still on rubbish wages. Our goal is to get into property and we wanted to start looking at buy to lets using a BRR strategy. However not having a property we currently own seems to stop this avenue for us and with this property coming up at a bargain price and only round the corner where we live it would make sense to get a mortgage on it opening the door to future goals, gain some equity and save some money on rent we are currently paying. Thanks again for your replies and stay safe
  3. Hi there I have been offered a property around the corner from where I currently rent which is very cheap due to a death and the family wanting rid, I am looking to purchase it as my residential home. My income has been rather low over the last year or so due to starting self employment and sending of self assessments however it is rising year by year and earning more. I would like to know from any mortgage brokers if my income would be able to obtain a 90LTV on a this property or am I not there yet. property is 130k 117k mortgage needed My income Self employed £16500 19/20 (£5600 18/19) Age 32 Wife's income Employed £18000 Age 31 14 months current job 1 Dependant (Age 5) Other income £4800 child benefit and mostly child tax credit school fees we get back as both working full time Debt - 6k credit cards, HP loan 290per month ( My car) I understand under the current circumstances no one is lending due to covid 19 at high LTV etc but when we get some normality back in the coming months do these numbers work. The seller is going down probate and has given me 3 months time frame to move forward with sorting a mortgage or letting him know if I cant go ahead. I am able to do 85% ltv if needed but ideally want to go 90ltv.
  4. In all I think the above proposals make sense to me, Getting rid of bad tenants quickly can only be a good thing and making the system easier for deposits is also welcome. as for section 21 I welcome the changes, is it me or do most landlords use this to get rid of tenants paying lower rents in places like London and oxford as the prices keep going up stupid amounts each year. Me being a Northerner we don't see big rent increases like those down south.
  5. If a company, insurance company, solicitor or anyone makes you an offer in good will after you accuse or claim for something, it is because they think or know they have liability owed to you for your complaint / grievance ect… Put simply this is go away money. The question is what is your next step and can you be bothered chasing this up further, there would be a risk now going forward but you could speak to a new solicitor who deals in litigation against other law firms but I would be more inclined in making a bigger fuss if you strongly feel the solicitor is in the wrong and I would anticipate a better offer. Worse case you get stonewalled and you are no worse off. How much was it you lost out on ?
  6. Very good, the best thing I can suggest is go in and explain you are refurbing a btl and ask if they have any deals or end of line stock, my experience with howdens they have lots (and I mean lots) of end of line stock they have to get rid off in branches. Having this stock on there books at certain times of year effects there bonus for that branch so in some cases I have watched them physically dump decent stock in skips, Madness !!! The point being I have had contacts and myself get new kitchen units or recently new doors that should of been £45+vat each for say £6 cost just to get rid. Be cheeky and go in and say I want some end of line kitchen units doors what ever cheap, I bet they will entertain you.
  7. Hi there Where abouts in the uk are you ? I have a contact at howdens, well worth speaking to if you are northwest england based
  8. Hi Adam Many thanks for taking the time to respond to me. Great to hear that you can go from 75% to 80% btl, refinance from a bridge on a first time BTL. I do have two other questions if you could help answer ? 1- Is there a product as above 75bridge to 80 btl that also comes with a refurb loan attached to the bridge ? or are these type of products only 75%btl on refinance. 2- when taking out a bridging loan do the bridging company finance you at the current market value or the purchase price ? (I.E Not an auction property but bought via and agent or private vendor) so if I had an offer accepted on a house asking price 70k but negotiated a purchase at 58k but the value was 70k and accepted by the mortgage surveyor at that price would the bridge lend on that value or disregard and give only on 58k at 75%max. Thanks again Lee
  9. Hi there I am looking to find out if its possible to bridge from a 75ltv loan to a 80LTV BTL mortgage in a Buy refurb refinance scenario. Are there any lenders who would refinance at 80ltv on a refurb property for a 1st time btl landlord which is what I would be or would 75% be the max being a first time landlord. Many thanks Lee
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