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james s

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  1. Hello Hubbers! I hope everyone is safe and well in these weird times. I wanted to see what people thought about leverage, I know this is a bit of a random topic but I wanted to know where people's 'safe zones' are. In my opinion, being able to use the banks money to leverage up on an asset is one of the best things about property as an investment vehicle. What % LTV do you think is safe? I appreciate everyone has different risk tolerances, but it would be great to get an overall picture. I personally don't see an issue with leveraging up to 75% LTV, but would that
  2. Evening all, Thanks for the advice and opinions on this post. I thought I would let you know what I've ended up doing short term - I've decided to lock into a 5 year fixed rate at 2.09%, not pulling any equity out. The lender is a provider who is open to offering additional finance after 6 months, this gives me the options I need should I want to use that money at some point in the future. In the meantime, I'm going to continue to keep an eye on the market and grow my cash pot. There's no harm in slowing down, reevaluating things and then moving on. As a lot of you have stated,
  3. Hello all, I'm looking for some advice, I'm 25 and I've currently got a portfolio of 3 properties. My strategy this year was to carry on buying, but after having a meeting with my accountant he said perhaps it's worth me slowing down to see what changes brexit could bring. Everyone seems to have slowed down and I personally think this is a great time to try and take advantage of a slower market. Anyway, below is my current portfolio, if you need any further info please drop me a message - Property 1 Purchased for £214,750 Outstanding mortgage £140,000 C
  4. Hi all, Just looking for other investors opinions on a potential deal I've been looking at - 2 bed terrace in Kingstone, Barnsley Asking price - £75,000, expect to get it for £70,000 - numbers based on £75k though Rent - +£450 (tenant in situ) Interest only mortgage at 3% on £56250 -£140 Management at 7.5%+ VAT -£35 Buildings Insurance -£12 Total NET - £263 PCM Money in - £22,300. I would appreciate your thoughts. Thanks, James
  5. Appreciate the replies. I should have been more specific in my first post, my current goal is to replace my wage for a passive income. Nearer to the time I will have a look at each specific route and go with which one suits my lifestyle/goals the best, I was just putting the feelers out there to see what people would choose if they were me. I completely understand everyone's goals and situations are specific to them, this was more a general overview of what's best. Thanks
  6. Hello all, I would be interested to see which route you would go down and why? Please see scenario below - By May of next year, I will (hopefully) be in the fortunate position of having about £100-£120k cash, I plan to use this to buy property. Now here comes the tricky part.... I've been fixated on using this money to buy one big HMO property costing around £300-£325k and producing roughly net £1000-£14000 PCM, however the more I think about it, the more I wonder - should I use the money to fund 4 vanilla buy to lets or even a refurb? Option 1 - Buy
  7. Hello Charles, I'm intrigued by what sort of property investment offers such a large return in such a short amount of time? Is that £60-£90k including capital appreciation or is that simply from rent? Seems pretty ambitious to me but I'd love to be proved wrong on this one.. Look forward to hearing more. Thanks, James
  8. Hi Stacy, Very interesting question and one I've found myself seeking an answer to too! As all the others have said above, it's completely down to your attitude to risk and what helps you sleep at night. I personally use interest only mortgages because it's helps me increase my cash flow, therefore making the next purchase easier. I do think it's wise though to pay down your mortgages once you have increased your cash flow, not only to provide more of a monthly cash flow but to also protect yourself and open up better mortgage deals. I feel comfortable
  9. Hi All, Could someone please recommend me a good Mortgage Advisor based down South (I'm in Brighton). I have a few that I have used but would be interested in having a few more options. Thank you in advance! Cheers, James
  10. Hi Anthony, I have purchased two buy to lets and I'm still living with my parents. Although it's not a huge help not having a residential mortgage it can certainly be worked around. I think the best bet for you would be to talk to a good broker, they'll show you which lenders will lend, and which won't. FYI my two properties are with NatWest but I know for a fact there's a handful of lenders that'll do B2L for FTB. (Lots of acronyms in there < ) Cheers, James
  11. Hi Gosling12, I've been wanting to do exactly the same! I'm based in Brighton and my Dad has HMO's here but recently he's started venturing into Nottingham, a place that isn't massively accessible from where we're based. Having said this once the purchasing process is completed, he just hands it over to an agent who manages it from there, of course they're taking some of your profits with a managing charge but it's not over 10% and if factored in from the start this model works really well as an armchair investment. His HMO properties are mainly targeted around stu
  12. Hi all! First off, l hope everyone had a great Christmas and NYE. I wanted to get a bit more information about R2R, as far as I can see it's deemed a bit of a taboo subject. Through the various threads I've read about it, people seem to view it as a get rich quick scheme but I wanted to see if it's more than that in reality. If you don't know what rent2rent is I found this article that sums the basics ups perfectly - Rent 2 Rent – find a large property that could be rented on a room by room basis and rent the property from the existing landlord
  13. Hi Dave, I too have been in the situation quite a few times now, so I really understand your want to speed up the process! Previously I have used the saved money and put it into stocks and shares, ideally bluechip ones that you know are pretty secure. I've also used ISA's before but the returns aren't fantastic if I'm honest. The Santander 123 account is arguably the best bank account with good incentives and cash back rewards, here's the link - http://www.santander.co.uk/uk/current-accounts/123-current-account I came across this company a while
  14. Hi Steve, Sounds like you've got an exciting opportunity on your hands, great to have a property so close to the station. I'm currently living in Hurstpierpoint and have done for the last 15 years, I have been investing in local areas such as HH, I know the market well and would be interested in this. Could you send me the details please? Kind regards, James
  15. Hi All, I have a question regarding a recent opportunity I've spotted. There's a commercial spot for sale by auction close to where I live, it has absolutely huge potential for development and has had lapsed planning permission for 6 x 2 beds and 1 x 1 bed with basement parking granted. It sits 3 minutes walk from the local train station which has a direct line into London Bridge in 55 minutes, so as you can imagine it would be very popular. It currently has a business occupy the building at a rent of £14k per annum and they need 3 months notice before it's deemed vacan
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