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Profile Information

  • Location
  • Areas I invest in
    South Wales and the North West of England so far
  • About me
    I work in the building trade running a small construction company which I really enjoy, and have a ltd company for property investing with my sister. We try to share the work load out so she's behind the scenes on the paperwork and I'm the hands on one.
  • Property investment interests
    Vanilla BTL. Enjoy an evening out at an auction, it's a lot more exciting way to make a purchase. We've set out a rough ten year plan for 80k rental income by 2030. I'm considering deviating from the plan a bit hoping to get a commercial unit and possibly a HMO to maybe speed up the process if we can make the right purchases.
  • My skills
    Carpenter by trade, general builder by experience really. I enjoy running jobs and the pressure that comes with it, you can call me anytime to talk about work :) Also have a chartered accountant for a girlfriend so any tax or accountancy queries I have get answered immediately.
  • My goals
    Our current goal is to have a rental income of £80,000+ by the time I turn 42 in February 2030.
  • Interests outside property
    Football, mountain biking, gym, any sort of fitness, help my dad on the farm a lot and travelling as much of the world as possible.
    I also love dogs.

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  1. What's the bottom half of the internet?
  2. That does help a lot Chris. I'm now being told that the building warranty firm they we're originally going with changed their policy when covid landed and weren't willing to protect even the 10%. They're now in the process of finding a new company but can't give me any guarantee (other than the word of the sales rep ) that the 10% will be protected. So I think it's time to pull the plug on this deal 24k is a lot to have unprotected but 48k is far too much. Real shame because I love what they're offering but I think I need to go with my head not my heart.
  3. I felt like I'd done all the due diligence I could really. But reading the thread that Mark directed me to has given me some doubts now. Could this be one development that didn't go to plan/two investors that got unstuck from many? I could find almost no bad press or reviews about Beech Holdings online and they seem to me to be a very reputable company. But I could be missing something. Does anyone have a suggestion of where I could look to get a proper lowdown on the company, reliable independent review sites maybe?
  4. Hi guys. I'm currently in the process of buying an apartment through Beech Holdings, how did this situation pan out for you in the end?
  5. Thanks guys very helpful. Where can I find this thread please mark?
  6. Hi guys, I think this might be a bit niche but hopefully someone can help. I'm in the process of buying an apartment off plan in Manchester. The company I'm buying from want a 20% deposit (£48,000) but the deposit isn't going to be held in a stakeholders account until completion. It will be initially but once the developer has had a buildings warranty issued, which is likely to be early in the development, it's no longer held in a stakeholders and can be passed to the developer to use as they wish. 10% will be protected by the buildings warranty but the other 10% is at risk. So my question is does anyone have advice or knowledge of what I can do to protect the other 10% (£24,000) I've spoken to my insurance broker and they know of nothing and the only thing my solicitor could find was one that only dealt with developers. I'm a bit stuck atm, getting pressure to exchange as we're already two months over the 28 days they set but I'm reluctant to risk £24,000 as it seems likely the developer needs the deposits to spend on the development. The company I'm dealing with are Beech Holdings if anyone has any previous with them? Any advice will be much appreciated. Thanks
  7. I've heard a lot about that book but been dubious how it would work for me being in the building trade, it's difficult to run medium sized building jobs without being hands on. Especially, as my dad says, when the boss isn't on the job you've lost the best carpenter for the day. How are you finding the book?
  8. Hi Ryan, Interesting post, you seem to have things well planed out and haven't rushed into property at all. I'm just curious what your intentions are career wise? Being a Quantity Surveyor seems like it would work well along side the property. Are you looking to get out of that to focus on property full time or are you going to run them side by side?
  9. Can you go deeper into what you mean by this line please? "A huge number of the current office jobs won't exist in the UK in a few years anyway, including many you might not expect."
  10. At the end of January I was at an auction looking to buy a property that included a convenience store on the GF and two two bedroom flats on the FF. For the price we were looking to get it we would have been on about 18% rental ROI and would have been our most profitable property for cash flow three times over. It would have left our bank account empty to get all the deposit together and pay the bridging loan for two or three months, so a stretch, but I was excited about it. I was tempted to bid 20k higher than we'd planned, which would have probably won us the lot on the day and taken a lot out of our personal savings as well, but my dad talked me out of it and we missed out. I was very disappointed. About six weeks later we were in lockdown, mortgages weren't being completed and shops were closed. We could have had an empty bank account, empty personal bank accounts, not working so no income, stuck on a bridging loan with no idea when our mortgage could be completed, the shop closed and possibly less rent coming in. Long story short, I learnt however good the deal looks it's not worth the risk to stretch yourself to the limit, you really don't know what could happen in the meantime. And also, your parents know better however old you get.
  11. I make sure all the correspondence is in writing and they check I'm happy with the colour before they start. That way if they steer from the agreement I can keep the bont to cover costs. It doesn't cover a full redecoration but it's something
  12. My take is to meet them half way. I make sure it's down on paper that they're free to decorate the walls as long as its neutral colours that will be easy to cover and the woodwork must stay white. I once had a tenant decorate the house herself. She was a sitting tenant when I bought the property so I let her carry on as it needed a whole paint job once she moved out, she had green wall, brown skiting, pink bathroom which they didn't have a brush to cut in so they just butted the corners with a roller, they'd started painting the coving with two different colours but didn't like either so left them as they were. That's when I realised I'd have to be more strict about it. I personally take it as a good sign when they ask if they can paint a bit as it's a sign they intend to stay and it saves me having to pay to keep it up to scratch. Win win
  13. We saw a slight increase in prices a few years ago, followed by a small dip then a recovery, which had us all thinking that was the mid-cycle wobble. There's still time left in this "18 year" cycle for a dip then a boom after. imo prices and demand have sored so much since lockdown it's not sustainable and I can't see prices rising like this until the end of the cycle. I wouldn't be surprised if we see a sharp dip during 2021 followed by a boom that will see us through to the end of the current cycle. So if anything I'm anticipating the crash to come later than expected. So when we look back this will be the period of time we refer to as the mid-cycle wobble. With everything that's going on, Trump, Brexit, stimulus to get us through Covid, I'm expecting a very big boom followed by a very big crash
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