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horne-properties

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  • Areas I invest in
    manchester

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  1. hi just to let you know it is definitely possible, I bought my Residential property at 18 mortgage free by 25 (2020) remortgaged £112,500 from my Property and still have a lot of equity in the property valued at £200k, I invested in 2 other btl properties which cf around £800pm. my advice would be to get a strategy before doing anything els then move forward from there.
  2. we looking to get as much education and build knowledge on commercial to resi projects as possible, can anybody recommend on this subject. thanks
  3. we are going through the same process now, we are in the final stages of remortgaging and was told last week we need to find a property to complete along with property details, new mortgage details, and rent prices from an estate agent. before funds will land. we viewed 4 properties Thursday and offered on them all some at list price some just under with tenants in situ but haven't heard anything back yet, due to the demand in my area I have seen prices go £15k more then listed so its going to be a challenge that's for sure
  4. hi David well both really 50/50 shareholder and director, I am just trying to find out if this would complicate anything with lending ?
  5. hi everyone I set up my Ltd Co in early 2020 currently have 1 btl, I want to add my younger sibling as 50/50 director my question is would lenders still be willing to lend because of his age and if so would rates be higher etc ? I would say he's got a very healthy bank account for someone of that age secure job/income, credit rating isn't to bad. just thought id ask for some advice on here before making any further decisions any help would be great full
  6. hi stuart if they didn't extend again do you think its a case of full mortgage application again? I was told if they was to give a further extension I might need new valuation ect like you say.
  7. hi everyone I am purchasing a btl, to get to the point the lender give 3months to complete we wasn't able to due to a delay on the vendors behalf. the lender granted a extension unto the valuation ends 1 month which is due to end next week, solicitors has requested for mortgage funds completion date was set but due to issues in the chain its now not going to happen we did ask for chain slit but vendor can't do so. I have ask Solicitors to ask for a second extension. has anyone ever been in a similar situation/any advice would be helpful thanks
  8. seems achievable, I am not 100% but as long as its got 2 Points of access and egress and over 7m2 should be fine. I would check with the freeholder first before starting any works if its leasehold. also would it be worth losing good tenants for the extra rent. best of luck with it though.
  9. thank you for all you advice everyone so the day I wrote this I actually had an offer accepted a few hours after haha, I am really happy with the property and deal
  10. hi people I have been looking at buying vanilla BTL's for the last 12 months in the Manchester area but really struggling to get a deal done. people are bidding £10k-£15k more than the asking price, houses have been selling in less than 24hrs crazy house prices are around £150k rent £750 so I would be leaving around £45k - £50k in the deal I won't go into to much details but my strategy is to buy and hold long term 2-4 houses over the next 12-18 months through my ltd co and learn new strategies as I go on I don't plan on leaving my job anytime soon or taking any money out the company I have viewed over 50 houses now and placed multiple offers very close or at the asking prices and still lost out these houses are usually only in need of basic up lift to make them lettable £2k-£5k my thoughts are I am becoming impatient, could I be lacking something somewhere ? as far as I am aware I am moving fast soon as there on right move I have even built good relationships with two agents who send me off Market stuff but even other investors are paying way over what I would even consider I am doing the figures and there leaving £55- 60k in the deal for 5% roi 5%yield £240 cashflow this doesn't meet my criteria on that subject if something is cashflows over £250 over 6% roi 6% yield I am happy to leave this type of cash in the deal I think I am becoming a motivated buyer guys haha, this cash is burning a hole in my pocket HELP! I have viewed another 4 houses this weekend and placed 2 offers at asking price but I have a feeling they want more then what they have advertised at any advice or criticism is more than welcome I am here to learn as I go on
  11. hi, I am a newbie from Manchester, also looking to invest in these areas, would be interesting to hear you journey. Liam
  12. hi, yeah I think its more learning as I go on and getting the experience I am 25 now so I have a fair bit of time to learn
  13. hi Julia thanks for your in put gives a lot more understanding, prioitise the first 2 then see how it goes
  14. hi everyone I just wanted other peoples opinions on this slow and steady approach to investing these funds, £225,000 to buy 5 properties that are around 6% yield they cash flow around £250pcm each property after all expenses , Mortgage ,maintenance, management ect, so £1,250pcm in total, I won't have full access to all funds till later in the year, my plan is to purchase 2btl's in 2021 with the funds available now, then having the rest of the funds purchase another 3btl's in 2022, then go on to purchasing 1 every year, I don't intend on taking any capital out for a long time. am I on the right track ? hope this makes sense
  15. hi Julia, the house's I have been to view have needed light refurbishment, new kitchen, bathroom general modernising through out, so I think the best strategy would be to brrr, as long as I am pulling a decent amount of money out of the deal I will be happy, I have also been looking at standard btl properties, I think I will use both these strategies. any advise would be much appreciated.
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