joncorrigan

Hi, Thanks for the response, that's great. I will need to adapt and change yes, inevitably making mistakes. I just wanted to put the general gist out there to see if it had potentially any disastrous flaws, I guess i'll keep trying to learn what I can this year and then see how I go. .... there's no substitute for experience, so thanks for sharing yours. All the best.

Hi All, I've been using 14days in an isolation hotel to research, educate and prioritise my investment strategy, to ensure a secure and free future. This forum has been trailed, books read and umpteen brilliant Podcasts listened to, so thanks firstly to Rob + Rob for their inspirational effort and to everyone else involved on this forum! Background: I'm a single 34yr old expat, but although I live abroad it's not essential to my job, so I now intend to move back to the UK at the end of this tax year. Seemingly a hard decision to ponder, but when taking advice and simply writing a page of pro's and con's... Blighty was the clear winner at a score of 8/2. I work on a month on / off basis when the going is good, I'm a sparky by trade, useful and experienced in a site environment, plus my brother is a builder. I currently have no property to my name and will have 200k - 230k in cash savings by the time I get back to good old GB. My salary is meant to be just north of 120k but is currently chopped due to the obvious. Now... onto the strategy (in brief form) Short Term Goals (2.5yrs) Move back to the UK and purchase a modest private residence with the aim to refurbish, create equity + keep until I feel the need to upgrade Purchase x5 BTL properties (each 60-80k) using an SPV by means of directors loan(s) and BRR strategy Continue working away + reinvest all SPV profits Mid Term Goals (5yrs) Have purchased x10 BTL's using compounding rents / BRR / directors loan model Upgrade private residence, be building good equity and overpay mortgage if possible (life may get in the way here) Continue to enjoy my away job + reinvest all SPV profits Long Term Goals (10+yrs) Company owns 20+ BTL's with a mixed spread of high yield / capital growth focus Primary residence has low mortgage repayments / high equity Option to scale back my day job from being staff to contractor and pick my jobs as and when At this stage I hope to be able to re-evaluate my portfolio and either press on investing or take some equity through sales, pay off chunks of finance to move closer towards a monthly passive income of 5k. I will adjust along the way and the numbers are not set in stone... ie If some of the portfolio has gained some capital growth and the money may be better elsewhere, then I intend to be as fluid as I need to be, because at 45 - 50yrs old, yield will be priority. I have the rest of this year to fine tune this plan but that's the general strategy right now. I would really appreciate some general feedback, thoughts, experiences, criticism and anything you this is good for me to hear. Thanks for reading and good luck. Jon

Hi all, Great to see people in the same boat and sharing similar goals! I'm an expat currently living in Spain, no real plans to move back to the UK any time soon however I work remotely so work doesn't require my Spanish residency... more of a lifestyle choice. I have no property at this time but am educating myself and working numbers to work out my long term + short term goals. Briefly: I want to invest in UK BTL's, with the end goal of having the option to replace my current job in approx 10 years time. (34yrs old as we speak) I'm aiming to buy at least one, possibly two per year...depending on my own salary and buying costs. These properties will be 100% managed by an agency. Fortunately, I'm not concerned about creating extra income right now so will keep rental profits within the plan, re-invest most likely. Right now I am calculating the average difference in expenses that the Expat BTL's will cost me as opposed to resident's BTL's, over 3/5/7/10 year period, along with the potential long term costs if I move back to the UK and want to re-organise things. Lots to do... If anyone wants to chirp in, please do so! Good luck + i'll stay in touch, Cheers, Jon