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andrew ridley

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About andrew ridley

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  1. Hi Luke, So you're finding a lot of people moving out from London? Are these mostly people retiring? I've done some renovation work before, and think I will definitely do it again, but probably as a means to make my money go further while building a BTL portfolio. Good luck with the flagstones! Andy
  2. Hi Jules, Welcome to the Hub! It sounds like you've done a variety of things in property already so I'm sure you'll have lots to contribute. What's your next move do you think? Regards Andy
  3. Thanks Donald, feel free to tap me up for refurb advice (for what it's worth!) and good luck with the project!
  4. Hi Brian, We recommend a mortgage broker who specialises in finance for overseas clients. I'm not sure about the etiquette for sharing details like that on the Hub but if you drop me a line at andrew@rmpproperty then I can put you guys in contact. Kind Regards, Andy
  5. Hi All, I know a couple of good mortgage brokers that we recommend to clients at RMP. We have no financial relationship with them - we just know that they get things done well, and quickly. I'm not sure what the etiquette is regarding putting details onto the Hub but feel free to drop me an email at andrew@rmpproperty.com and I can send you their details. Regards, Andy
  6. Hi James, Welcome to the Hub! Good luck with the search. There's plenty of people here on the Hub who will be able to offer advice. Is your heart set on investing in Norfolk? Kind Regards, Andy
  7. Hi Dawood, Welcome to the Hub! Good luck with the education, we've all got to start somewhere! Cheers, Andy
  8. Hi Chris, Thanks for the feedback - much appreciated. It sounds like you're keeping yourself busy too! I haven't done another renovation project since. My focus has shifted more towards property investment over renovation / flips. There's a few reasons for this. Firstly, I now have a full time job working at RMP and therefore have a lot less time to dedicate to a big project. Secondly I live in London, where it is now completely impossible to buy any property at anything close to a reasonable price and thirdly - and most importantly, I have realised that what I really want is to build up a reliable source of income and not be reliant on the proceeds from big projects to live. Maybe in 5 to 10 years when I have enough income coming in from an investment portfolio I will go back to doing renovation projects without being in the position where my entire financial security is resting on the speed and success of the next project. When I do, I recon I'll be looking to use a project manager or main contractor to oversee the work. I agree with you totally though, getting the wrong person in here could be catastrophic - but getting the right person could make the whole project run so much smoother. Personally, I'd rather spend the time doing stuff like sourcing, analysing the deal and running the figures, design, etc - and let someone actually deliver the project. There's still plenty of work to be done doing all this stuff, and this is where the value can be added in my view. The project manager then just has to deliver what's been designed on time and on budget. I would probably speak to 5-10 project managers / main contractors before picking the one to work with - which would take a fair bit of time - but that's just me! Good luck with it all! Cheers Andy
  9. Thanks for the feedback Lee. I think that actually what we did during that project was give ourselves an education on property renovation. If RoI and RoE were the only factors, then it would not have made sense to do so much of the work ourselves - but we wanted to learn too, and learn we certainly did! Going forward, I am now armed with a body of knowledge which should contribute to better decision making and hopefully more profitable outcomes than I could otherwise have achieved. That's the hope anyway! Cheers, Andy
  10. Hi Paul, Welcome to the Hub. I work with Rob at RMP and I'd be happy to chat about your property journey so far and your intentions going forward. The best number to get me on is 0207 193 8965 or you could drop me an email at andrew@rmpproperty.com Speak to you soon! Kind Regards
  11. Hi Garth, I agree with Rob's points. The gross yield may be over 10% but what is the net yield, and more importantly - what is the return on your capital invested. I wouldn't be surprised if, when all costs are taken into account with a realistic rental income, the figures don't look so good. It also looks like the building is overlooking an industrial park and is near what looks like it could be a sewage works. I could imagine the rental demand being poor here. Also what are the capital growth prospects for the flat? I guess the bottom line for me is that if this were an excellent investment opportunity, in an area of strong rental demand with good prospects for capital growth then - in London - it would have been snapped up. Definitely worth investigating further though as I may be wrong. Only some more thorough analysis will tell. Cheers Andy
  12. Both - many thanks for your responses. Kylie, Glad to hear you were able to find a way around this in your case! Tim, You make a lot of good points, I agree that a combination of too few surveyors with too little local knowledge may be contributing to the problem. I also think there is a good chance that RICS surveyors are being influenced by lenders, and possibly RICS themselves to be 'conservative' in their valuations. Neither mortgage lenders or RICS want to be seen to be contributing to another bubble. Regards Andy
  13. Hello Hub, On this week's Property News Radio Rob and I discussed an article from the Telegraph called 'Rise in surveyors derailing house purchases' The piece looks at an interesting trend emerging amongst surveyors. It seems that there has been an increase in the numbers of down valuations on mortgage surveys and seems to provide further indication that the housing market across many parts of the UK is starting to rise at a faster rate. Has anyone experienced this first hand? The Property News Radio eposide can be found here: http://rmpproperty.com/2014/03/pnr031-big-news-budget/ The Article by the Telegraph can be found here: http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/10711812/Rise-in-surveyors-derailing-house-purchases.html Cheers Andy
  14. Thanks Kylie! Although are you sure you were listening to the right podcast!?
  15. Hello Abi! Welcome to the Hub. I'm sure you'll get a lot from interacting with everyone on here. It can be daunting when you're first starting out but with some support from the Hub I'm sure you'll be fine. Have you started the search for a property yet? Regards Andy