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About ayns

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  1. Also mate, depending on your strategy, but people get really hung up (me included) on time to buy, should I shouldn’t I etc. If it’s a good area and the numbers add up for either cashflow or capital growth you will rarely regret buying somewhere, you can always change that decision in the future by selling or re- financing, If you never buy, you can never get back that time that you have lost. Even if you did a flip and couldn’t realise you re-finance straight away for example, there’s always silver linings in that you could rent it for 12-18 months , again yes wouldn’t have flipped it straigh
  2. What are you struggling with specifically? First thing I have done when I have decided I want to get 4-5 properties under my belt to aid retirement, is to listen to every podcast on here. I’m lucky, I became an accidental landlord in a northern city so I guess I’m further on than you, however you cannot put a price on research. Even the simplistic things, have you listened / researched about the highest growth Uk cities? Have you then taken, Leeds for example and checked out all the places available for rent within a reasonable budget. Example - say you have £30k deposit,
  3. I'm buying personally for the next 3 or so properties and will re-assess my goals after that really. Happy with the prospect of a mix of personal and ltd in the future as personal is long game for pension etc and if i went Ltd it would as you mentioned progress to cover 50% of my income ideally.
  4. hi yes this is a bit of an older thread, I opted to borrow the money as got a great apr deal. Plus I dont have any other debt at this stage and I got advice that for credit rating its handy to have something. We refurbed and re-financed so managed to get a good bit of money out of the property as well that we can take forward to another deal
  5. Hi Dave, great thanks for posting that, its a much comfort if anything! and you are right there is a difference between running an investment / property company and investing , as I said I would be more in the investor camp short term however if / when my life evolves and I decide not to chase the rat race, I could allocate more time to property if i decided that was right and would then expect the returns etc to adjust accordingly. Yes i have a bit of experience which helps me see a longer term view. I bought my first place in 2006, at the peak of the bubble at that time. 18 months late
  6. yeah i guess it depends on what you want out of it doesn't it. For now I think really I just want to get a few more places in the area that I know well and I know that capital gain is coming (mines gone up 20% in the last 4.5 years and lots more investment and travel links are coming). I know that may not be the "smartest" way of investing, however with time challenges for the next few years , i feel like I would prefer to do that and get the regular income and get a few more footholds in that area with strong capital gain, than wait till I have more time and the perfect deal comes up and pote
  7. I guess i'm just questioning hitting the button on go really, some may call it procrastination :0). I've just re-financed a property so I know what the true value is. Is there anything wrong with paying what something is worth if you are 100% confident in capital gain and the ROI yield is good. Again this is based on actual experience of owning a property in the area, not surfing rightmove. Suppose I'm want to live the BMV / re-finance dream, but just cant see it happening, so my plan is to rely on the ROI from my two properties, plus capital growth and a bit of savings over two years to
  8. I'm in the position to make another couple of investments and just planning how I do that. With a full time busy job, young family , to apply a serious amount of time to sourcing is , on reflection , unrealistic. What I would like to understand is; - The area I want to invest in is quite hot due to good capital gain prospects thanks to big investment going into the area. Is it realistic to think that a sourcer will still be able to get me a BMV deal in this area? - In a relatively buoyant area, what % of BMV would you expect a sourcer to get for you in return for their fee?
  9. Surely it just depends on your personal numbers and confidence and knowledge of the area you invest in and also what your model is. If you are looking for yield and the property in your area is hot, if somewhere was listed at say £5000 more than the place next door sold for , it will cost you an extra £150 in stamp duty and an extra £8 a month on an interest only mortgage. If however houses come and go quickly in your area and demand is high, you could wait 6-9 months for something within “budget”, in which time the market will have ticked up 2% plus you’ve lost 6-9 months in rent. 6 months
  10. Thanks David. Indeed, guess all circumstances are different as well. At the beginning of my journey (with young kids / wife part time etc) I’d prob like to be able to have access to that cash quickly if life circumstances changed, my idea was then after the 3 - 4 cash flowing properties I would then be very happy to leave all funds circulating in a LTD company for reinvestment and therefore not “double dipping” on corporation and income tax and maybe in later life then drop those profits into a pension if I wasn’t buying anymore. That was / is the plan anyway!
  11. My plan is to grow steady future income that can potentially supplement retirement in 20 years time (4 properties). That said, I’m investing in an area we’re the yields are quite good (13% net ROI pa) and I know capital growth sill be strong over the coming 5-10 years as well due to huge investment in the area, so an outside chance that I’ll be able to recycle some cash / re-finance and grow my property volume steadily over the years above my target number. Short term I would like the flexibility to have access to my cash as and when, bang it into an isa, use for repairs and generally ha
  12. Quite a few houses have this layout where I invest and to be honest the rental amount is the same, just different tenants. I wouldn’t have though a 2 bed house has major hmo potential, might be wrong though. Mine are two bed (separate bathroom) and I’ve had young families, professional couples and then 2 x friends sharing, out of all of them the 2 x male tenants (separate let’s , not the same 2 ppl) sharing on both occasions left the place like a tip. So personally, I would happily buy one with this layout in my investing area as from my experience, young professional couples or young fa
  13. Hi , I have re financed recently and must say I got a much better deal by shopping around than what my existing lender could give me, mainly due to then not giving a good enough valuation of the property in comparison to a new lender. i also wanted to switch to interest only which my existing lender wasnt happy with. Find a great broker and they sort it out seamlessly, I used https://www.veracityfp.co.uk/our-team/mandy-waby-mortgage-adviser and she came recommended , brilliant service and will be working with her again for sure.
  14. thanks, obviously normally the agency would do it but we are going down the self managing route now
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