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About Ally

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    Established member

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  • About me
    I own one BTL. In 2021 I intend to start taking it much more seriously, and create a portfolio of BTL properties.
  • My goals
    I want to be able to replace my salary with income from BTL in 15 years.

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  1. Hi all, I wonder if anyone has any experience or any guidance on converting an accessible suite (the sort found in retirement homes; low toilets, doors on the bath to facilitate access etc.)? I'm looking to find out if it the costs to change it out to regular bathroom suite are likely to be significantly different from a normal bathroom refurb? And if there are any gotchas that might not be obvious to someone who hasn't done it before? Thanks very much for your help Ally
  2. Hi all, looking to invest in Portsmouth. Currently raising capital but nice to network nonetheless. Good luck to everyone here
  3. Hi there, In my personal opinion, your current arrangement seems to be the most fair. You pay the mortgage and you live there. I assume that you're living there during the refurb, in which case your partner isn't 'missing out' on rent as you wouldn't be renting it out whilst refurbing it. If they insist on essentially becoming your landlord, then I would explain to them that they would need to carry the cost of either getting permission to let on your residential mortgage, or the cost of transferring to a BTL. They should have landlord insurance, and you should have a tenancy agreeme
  4. I agree. I view my pension as a 'hedge'. I hope I won't have to rely on it solely, but if the absolute worst case scenario happens I will be able to. In the meantime I will continue to invest in property and my personal stock portfolio. I wish I'd started thinking about this all sooner, but don't we all. The best time to plant a tree was a year ago, the second best time is today!
  5. Hi all, First time on the forum, and a relative newbie to property investing. I am currently positioning myself to start my BTL business next year. I have enough money saved to buy a property in my area and do some work to bring it up to standard. My strategy is to buy somewhere that needs some work done (nothing too adventurous - new kitchen, cosmetic work etc.) then aim to refinance and extract as much of my money as possible in order to buy the next. I think this is a fairly standard route but I have come across a stumbling block I can't seem to find an answer to either in the boo
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