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andrew grimes

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  1. Hi All, I have recently sold a couple of properties I renovated, one took me four months to complete and the other three, when I came to put them on the market I was advised by both the agent and solicitor that I wouldn't be able to complete on them until I had owned them for a minimum period of six months, I have tried to look into this but haven't been able to find a definitive answer as to if this is correct or not. From what I can gather it is not a legal requirement but merely a guideline to be followed. Has anyone experienced the same thing? What are the ways round it? I intend to carry on renovating and selling to finance further BTL's but obviously this could have a big impact. Any advice/information would be very much appreciated. Thanks.
  2. Hi Darren, I haven't experienced any major problems so far. I bought the properties off plan so everything was new when the first tenant moved in. I use a local agent to source new tenants when needed but manage the properties myself, this can be a bind when I have to drive a hundred or so miles to deal with problems/check out etc... It was a struggle to find good local trades initially but found that the agent was willing to recommend people, some good some bad but these are all now sorted. Obviously over time appliances etc... can go wrong and might need repair/replacement but that is about as bad as it has been for me and it will happen where ever the property is. I suppose If I had been a bit wiser I would have let the agent deal with the whole thing, so if you do need to look further afield that would be the advice I would give to you, It is probably worth taking a small percentage hit knowing that someone is local to deal with any issues. However if I can get the deal I need to make it work locally then that would be my preferred option.
  3. Hi I am new to The Property Hub after reading 100 Property Investment Tips (Great read and very informative). Wish I had known just half of the information in the book when I started out. I have three rentals at the moment and have had them for a number of years (Preston, Birmingham and Glasgow) the latter two of which I purchased through a company called Instant Access Properties Ltd (in my defence I was very green and naive at the time). I struggled with these two for a number of years and felt very let down as they did not deliver the growth or rental returns promised. I have stuck with them and now I get good yields from both (more down to low mortgage rates than anything else) but have yet to see any substantial growth in the time I have had them. This experience put me off for a number of years, but then I teamed up with a friend and have since completed three renovations and sold them on. This got my interest in property back and I am now looking to build upon the three that I currently have. My first goal is to find another two rentals as quickly as I can and progress from their. The main goal is to generate enough income so neither myself or my wife need to go to work for someone else. Looking forward to meeting/talking with like minded people.
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