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Alexander Teckkam

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About Alexander Teckkam

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    Established member

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  • Location
  • Property investment interests
    Refurbishments, Renovations, single occupancy BTL, investments
  • My skills
    Single occupancy vanilla BTL investments
    DSS tenants
    HMO investing
    Commercial property
  • My goals
    I would like to have a passive income of £10,000 PCM by 2025 owning a portfolio of 10 properties with 100% cash and a income generating website.
  • Interests outside property
    Marathon running, mountaineering (climbed Kilimanjaro in 2014) tennis instructor level 1, skiing instructor level 1

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  1. Hi Asad, Plan looks good, I like how you have broken down the goal into smaller manageable chunks. Wish you the best of luck for your journey. Kindest regards, Alex
  2. What happens if the flip goes wrong, you would gain valuable experience and...... be bankrupt. It is folly to make a decision based on it always going right. Flipping houses leveraged is extremely risky especially if you do not have an emergency reserve of cash. Play it safe, you can thank me later.
  3. Hi Ash Forbes, I would recommend waiting until you get £25k. The reason why is because if you only save £15k you will have all your money tied up in that one property investment. What happens if you invest your £15k in the £65k property and you lose your job and the property remains empty, how will you pay the mortgage payments? It may take you another year to get your extra £10k but you are still progressing forwards and building your net worth. Keep strong! Alex
  4. Hi Laura, I would not recommend doing a HMO as your first foray into the property investment. I invest in Leeds area and as James has previously stated it is article 4 in the central areas. This means either you will have to buy an existing HMO or go outside article 4 areas which are not high demand HMO areas. From personal experience, HMOs are a nightmare. They have more stringent legislation think fire risk assessments, fire doors... etc, the mortgage fees are higher, not many letting agents are good with HMOS and DONT EVEN GET ME STARTED ON THE TENANTS. We h
  5. Hi Andy, I am willing to help if you need. Alex
  6. Hi Chris, I have to agree with Derek. Do your due diligence on Samuel Leeds. Lease Options are not good for people new to property and I would personally say you need a background in property before sourcing deals for other people. The best place to start is to buy a vanilla BTL property 2-3 bedroom in a good location. If you do not have the funds to do this, then I would recommend the following plan: Save £1k as a starter emergency fund by learning to budget and pay yourself first Pay off all consumer debt Save £10k emergency fund
  7. Hi John, YOU DO NOT NEED AN EXPENSIVE COURSE ABOUT PROPERTY. As a landlord with 9 properties, the only courses I have gone on are free. The most I have spent is £10 for a book on my property education all the rest of my knowledge has come from my accountant and mortgage broker, free podcasts, audiobooks and generally meeting up at property hub, PIN and progressive property meet ups. I would much rather see you spend that £1000 on a property and get some real hands on experience rather than spend it on a course by people trying to up sell you other courses.
  8. I have two DSS properties, the rest of my portfolio is working tenants. There are somethings that I wished I knew before I get the DSS Properties: 1) Mortgage companies charge higher interest on DSS properties we are talking 1% higher which is quite substantial 2) DSS are paid 4 weekly (not monthly) so you are not paid on the same day every month which is fine but a pain to keep track of 3) they tend to stay longer than working tenants because not many places accept DSS tenants so they do not have many options 4) You are paid 1 month in arrears rather than in advance of the
  9. Do you mean x factor? I'm joking What is a factor, I have never come across the word used in a property investing setting
  10. Higos insurance are my preferred insurers. They do portofolio insurance and are extremely cheap.
  11. I will be doing much the same thing very shortly. I have run it past my accountant and it has got a green light so it seems like a good idea to me.
  12. Some other things to consider are: 1) Has there been historical capital growth in the area of properties? 2) The other thing to consider is your confidence level and how much property investing experience you have. I would not recommend a 4 unit commercial mixed use residential property to a first time landlord however to someone who has landlord experience it could work out well. I always recommend taking small and steady steps towards your goals. Walking and then running. Good luck and look forward to hearing what you do
  13. HI It sounds like a great yield on a property and one to definitely look into and do some good due diligence on. Things I would look out for are: 1) Why is one of the shops empty, is it a sign of difficulty to find good tenants in the area or is it because it was poorly managed? 2) You said village, village shops tend to be more vulnerable to going bust as they have a small catchment area. Does the village have good fundamentals? Is it a suburb of a major city? 3) Analyse the current leases the other shops are on? How long are left? are there any terms in the lease that are
  14. Hi Dinesh. Well done for putting your foot on the road to mastery. So you want to "sell" your main residence to your limited company and rent it out and buy another main residence? If so then capital gains tax does not apply to main residences held personally and so should not be liable for capital gains tax (I would double check with an accountant. Any accountant with an interest in property would be able to tell you a definitive answer) You would however pay stamp duty tax on the property as you are "buying it" so be careful. The other thing to be careful
  15. Hi Junaid. Interesting question.. I do not have any qualms about lending money providing I get interest 10% and it is done properly through solicitors and they will have to foot the bill for that. Surprisingly I do not get much uptake on this.... . It is a great way to stop people pestering me. I think that given your position I would dissuade you from lending your money as you are close to having money for your first deposit. It is your money and you have a choice about what to do with it. Just say No. The reason is multiple: - you are close to having your first deposit for your hous
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