Hi everyone, I'm new to Property Hub but I'm absolutely obsessed with it once I discovered this new world of property investing books, podcast, course and community.
I'm 29, working in finance as a professional investor in equities (if anyone wants to exchange ideas please feel free to PM) so when I first heard about Rob & Rob's investment philosophy and view re economics, cycles, leverage, LT investing, etc...I fully appreciate how great it is. And this new world of podcasts, courses and community are so useful for newbies like me to brush up knowledge about property. So I wanted to say thanks a millions to Rob & Rob and everyone here in advance!
With regards to property investing, I own a flat in London which I'm living in, and now I'm looking to invest in BTL in the North, i.e. Liverpool, Leeds, Manchester, etc.
I'm still at the stage of educating myself about everything property. I've read all Rob's books and online course, and set up a limited company, currently researching deals and looking for specialist accountant in the mean time. (unfortunately PropertyHub's accountant seems to have a long waiting list :<)
If anyone has good property specialist accountant and experienced BTL mortgage adviser, please let me know.
My specific question re buying offplan is:
Why the agent I'm contacting with in Liverpool is asking for 30-40% of deposit? That seems more than normal or is that the norm for Liverpool offplan market?
Is escrow enough to protect all my deposit or only up to 10%?
mortgage timing: when to start engaging with mortgage broker for offplan? before I put forward an offer or after my offer is accepted?
Many thanks for your help!
I have never invested in property before. I have decided to, strangely enough I have 150K. This is my plan. I would appreciated any advice on where I might be going wrong.
1. Set up a Limited Company
2. Get three personal buy to lets (Under 100k using 20k deposit) . This is to help reduce dependency on salary.
3. On the limited company buy one house at a time and flip. Leave profit back in Ltd company and keep flipping till I build up relationships with builders and have enough to do more (2/3 flips)
Any good builder recommendations will be much appreciated.
I’d probably use the 100k to invest in properties up north areas like Manchester Leeds etc get properties for like 100k or less so I can buy 3-4 as deposit won’t be that high then sit on them until capital growth has appreciated then remotage them for more cash to reinvest