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About ayns

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  1. Hi Craig, How do your find the quality of references through open rent and the credit checking? Are they reliable?
  2. Very difficult to say without knowing the market / target audience. If you were flipping the property and aiming at families then maybe, I’d you are looking at a buy and hold model then I doubt those changes which add enough % uplift in rent to justify it. Very much depends on actually what kind of wall it is though to be fair, load bearing etc?
  3. Yeah I guess i can see that. As you said, opens up more of the market but with that comes just different kinds of investors so doesnt exactly mean your getting into an up tapped area , just different competition.
  4. Hi all, Shortly I will be in a position to buy my next investment property in cash if needed. I wondered, does this give you much purchasing power in BTL , like it does in the residential / homeowner market? Understand this will potentially open up those un-mortgageable properties for refurb/ BRR, does it gvie you much clout on getting a discount on more vanilla purchases or not? Interested if anyone has any specific success examples Thanks
  5. I guess being a LL it all comes down to want you want / need from it. If it’s sole income or supplementing your income now it’s going to get tighter. I’m running a yield focused model where I can pump most of that return into additional investments. I have a full time job and am a higher tax payer, but my wife isn’t so based on my numbers and her pt income we can be netting £2k per month and still sit within the lower tax bracket. It’s to increase my retirement pot for the future. Even if the properties I owned didn’t go up in value at all over the 20 years until retirement, its fine and id take the income and recycling into stocks and shares as a win . If they do then I’ll pay the tax due on those “extra earnings”. It’s going to hammer people that had the sale of investment property built into their retirement plans if extra tax them becomes due. Even when I have been super pessimistic and costed right down , it’s hard to find a match investment wise that is so liked to government drivers inc inflation, land values etc as property is. We are a nation obsessed by houses and that isn’t going to change. Especially an investment where you can 100% invest using only 25% your own cash. Then one where you can recycle that money into other investment options as well to get an extra 5-10% potentially in stocks / shares. Obviously if anyone has any better ideas be sure to let me know!
  6. So looks like the ball has started rolling on the expected tax grab needed to pay for this pandemic mess. Sunak has clearly voiced property transactions as an area that escapes CGT when compared against income tax brackets. He has clearly called our second home owners. Now in my view this is going to massively effect the plans of those that are coming towards their investment journey / looking to sell up. For those who are planning on being in the market for the next 20years and potentially beyond - is it fair to say that you shouldn’t base your long term investment decisions based on today’s CGT rules as surely these will change and evolve over time anyway?
  7. Congrats. Was there much scope for a discount?
  8. yeah looking at the growth % over the last few years, providing you dont need the rental income to live and its an investment - 10% net yield on rental income, lets say 2% pa capital gain minimum plus the averages on the stocks and shares ISA (even if it was 5%!) I dont get why you wouldnt! Thanks for the advice
  9. I'm current switching by mortgage interest only and pulling out to purchase another btl with a good yield. Just started looking into the HL platform and products as I am planning on stacking my rental income into a stocks and shares isa. Looks like HL had dreadful day yesterday though. Would you recommend HL as a good platform to get started with? set up seems straight forward and accessible for someone who wants to get started and learn more as i go
  10. Similar numbers, I'm in the midlands and I could get 2 x two beds in an area with good prospects for capital growth (trending 5% YOY) and a decent yield. £50,000 buy in (deposit, stamp duty, legal fees) would get you 2 x two beds that would gross you at least £1100pm based on the current rents . Similar investment, an extra £45k over the next 10 years based on current rents and good capital growth potential, also the added benefit of de-risking like Adam said.
  11. Yes i'm nottingham based. Good to know, I guess anything below the market value is a win. Always interesting when you hear about these people that get like a 20% + discount on properties Im think how many people actually get that these days.
  12. Personally I do it by the amount I have physically invested into that property. I.e I have £27,500 tied up in a property at the moment and annually I’m projecting my net income to be £4,345 pa which is circa 15%. Next one I am buying will be similar income but hoping for £30k set up with stamp duty etc so 14.5%. I know some that’ll calculate it gross, some that’ll base it on total property price (normally agents). Personally I would only ever do it on total value if I bought the property outright. Also I just prefer net as it works for me, whatever you use gross or net just make sure obviously it’s consistent. I also do it over 11mths rather than 12 to account for maintenance etc
  13. Humans are humans, as soon as market confidence picks up and people still have their jobs, desperate for holidays , “you only live once” mentally will take over as always and I feel the markets / car sales / holidays /houses etc will go bonkers. Just a gut feel but I think so much pent up consumerism will come spilling out once the storm has passed. Happens every time doesn’t it
  14. I get it, but in depends on what you are looking at and what a growth your area is experiencing over the last few years. Personally I think we are in a bit of a unprecedented wobble, which when all this crap ends will be followed by a typical “thank god we’re alive”, “I still have a job” , “let’s buy buy buy” boom. Yeah if you bought now for 90k, it may go down by 9k, but if in 7 years is up 35% who cares and you would have netted a return in the meantime. pivot your strategy if needed. Or work out your purchase price based on what the market is projected at and work on that, make offers until you win in line with your strategy. Need to work for it, gone are the guys of buying cheap, refurb and rent and cashing in with just surfing Rightmove at the front end
  15. Hi, it’s just the cost really. The agency that have let our place out charging 10%+ VAT charges £365+ VAT for tenant find. The tradesman contacts through the agent haven’t delivered brilliantly and some of the work hasn’t been as I would expect at all. im looking to grow my portfolio from 1 (currently being re-financed ) to 4 over the next 12 months. Based on my current agent, I’d be paying Just shy of £300 per month in monthly agent fees alone, that’s a big number over the next 20years.