My partner and I have finally taken the plung! We have set up a Ltd company SVP for tax reasons to run our properties through, we both work full time and our time management skills are being tested! My partner is in the industry and manages a site for a large building developer and I own property overseas and have agents who manage that.
We have a family member who has four BTL properties and been on a few courses over the years, run her own property management business, is a bookeeper who is well connected within the industry so we have a good mentor.
Since we are brand new this is what we have started so far:
1. Registered a Ltd company (only start trading from April 2020) to ensure we get set up properly
2. Sourced a expert tax accountant
3. Chosen our area
4. Driven around the area day and night and spoken to 3 agents
5. Subscribed to Property Hub and Podcasts and listened to two property investment books
6. Network weekly with one property investor
7. Network with estate agents where possible
8. Exploring a domain name, G=Suite, Landlord Software, choosing a logo - WHAT IS THE BEST SOFT TO USE?
9. Resources https://simply-docs.co.uk/Property-Leases
10. Our focus will be Capital Growth to grown our portfolio aiming for 2 per year
11. We have our letter in principal from our mortgage lender
12. Booked to attend a social media event for property investors
13. We are even considering using a sourcing company to get leads to save time finding the properties due to our demanding jobs at the moment
Think we are on track but any other tips welcome!