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Mark Rocks

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Everything posted by Mark Rocks

  1. Hi @pauljones - welcome to the forum! It really depends on your goals, and also what kind of tenants you'd be aiming for. However, we've done deep-dives into both locations in the Property Hub Magazine, and pulled out some specific locations which you could take a closer look at; Newcastle Best for city workers - Wilford, Mapperley Best for students - Lenton, City Centre Best for capital appreciation - Hyson Green Liverpool Best for capital investment - Sefton Park, Baltic Triangle Best for yields - Kensington, Fairfield Best for high-end
  2. You're welcome @peteo - let me know once you've gone through the online course and we can see which strategy will work best for you
  3. Hi @shaun woolnough - really sorry to hear about your situation, that sounds incredibly stressful. Have you spoken to your solicitor about this? And have you had any issues with the Estate Agent before?
  4. Hi there @eddyc1878 So there's a few options for you here. To answer your question, if you and the tenant agree to the three year AST, then you can change it even though the 12 months aren't over. You'll just need to make sure the tenant is fully in agreement, then chat to your agent and they'll draw up a new one. Of course, in the event that your tenant wants to stay but doesn't want to commit to 3 years (as that's a long commitment for many), you could ask that they get pet insurance in the event of any damage to the property? Or you could draw up a new 12 month AST, which incorpor
  5. Hi @ayns It's a bit of a double-edged sword isn't it? It's good that you were on the money in investing in your specific area as the growth has come to fruition, but now it's pricing you out of adding even more properties to your portfolio thanks to that growth. With that in mind, I think branching a bit further afield with your investments sounds like a smarter idea. Particular Doncaster, which was a Property Hub hotspot in 2020. You've probably done plenty of research already but we've got an investment guide for Doncaster that you can have a look at as well. How would you fe
  6. Hi @matt_roberts Congratulations on starting your business with your wife! I'd always check out this site when it comes to what should be in your tenancy agreement; https://www.gov.uk/private-renting-tenancy-agreements/what-should-be-in-a-tenancy-agreement In terms of raising the rent, have you been in contact with the Housing Association about this? Also is there a tenant already living there?
  7. Hi @peteo - welcome to the forum! Can i ask, are you hoping to turn the current house into a BTL? Or would you be staying in your current house and investing in another property for your first BTL? It's definitely not too early for you to start thinking of getting into BTLs, but as a first step I'd do a little research into whether BTLs are the best strategy for you and your family. It's most certainly the most popular investment strategy, but there's plenty of others that may align better with your longterm goals! We've got this free course which details the various strategies
  8. Hi guys @marvinv - @oumdaldn This is quite a popular question on the forum this last month! Basically your decision should be impacted by what your ultimate goal is with your property investments. If it's quicker capital gains that you want, then the rental gains from the flats are obviously going to be a better choice for you. But if it's long term capital growth, then the house might serve you and your goals better in the long run. Which is more important to you? Personally i would always lean more towards the 'two flats' option, simply because in the hypothetical event of fi
  9. Hi @nav85uk Welcome to the forum, and congrats on the birth of your first child! That's very exciting, and definitely a good time to start planning for your future when it comes to property. This question on whether it's better to use your savings to buy one property or split in among more is a common one, but as I'm sure you can imagine, there's no one-size fits all answer. It all boils down to; a) what are your long term goals? b) which investment strategy will work best for you? The goals will inform which investment strategy you should go for. Am I right in thinkin
  10. Welcome to the forum @miri - we've actually got a sub-thread for Hubbers who are interested in investing in the North East; https://propertyhub.net/forum/forum/55-north-east/ Are you planning on making your own investments in the city, or do you have specific questions about the city you want to ask?
  11. Hi @jonny Other Hubbers have frequently cited using Zoopla and Rightmove in order to find out the average market value of different areas. Finding properties that are as similiar to the one you're considering purchasing (same number of bedrooms, roughly the same size etc), and within a 5 mile radius of the property, then sorting them by most recently sold (as any that sold more than 6 months ago won't reflect the current market value), should give you a good average market value to work against. The first section of our guide to desktop research describes the best way of valuing
  12. Hi @slavica - welcome to the forum! Both of these scenarios sound like they'd have the same positive impact on you, as you'd be letting both of these properties out. The question is why would you be buying the property for your son? Is it to get him on the property ladder now, or would you hope for him to move into the house once he graduates?
  13. Hi there @stevec33 Thanks so much for sharing your story so far! And congrats on saving up the £200k to invest - definitely makes more sense to begin investing now so those savings can make you more money than if it was just sitting in your account. You mention not having too much time to devote to investment right now - and that's not a problem, especially if you're already aware of your limitations, time-wise. We've actually got a free course that covers the best ways to invest when you've got less time; https://propertyhub.net/course/how-to-invest-in-property-when-you-have-no
  14. We've got loads of different boards on the forum where you can pop your questions and get some expert advice, but it's always good to start on the Introduce Yourself board If you're ready to invest, but don't have that much time, it could be worth your while to consider working with an investment company? These companies can source suitable properties, manage the investment and can even manage the property for you as well. We've written all about the pros and cons of working with them here; https://propertyhub.net/property-investment-companies/
  15. That all sounds very achievable @gabrield - as you say though, it takes time and some patience, and a lot of learning, which luckily we provide for free here at Property Hub! I'd recommend taking our 'Which Property Strategy is Right for You?' course at this early stage. It gives you a good bit of info about the various avenues you can go down when investing, and which ones work best depending on the time and resources you have; https://propertyhub.net/course/which-property-strategy-is-right-for-you/ Personally, I think using your £55k to buy your first BTL to get yourself started wi
  16. Hi @foster I'd personally not heard much about it before, but from a bit of desk research, I understand it's where the property seller finances the purchase directly with the buyer. As the seller, you can win in this scenario via the interest on the repayments, but you're also assuming the risk should the buyer default on the repayments. This site breaks down what's involved in owner financing, and the pros and cons; https://www.investopedia.com/terms/o/owner-financing.asp#:~:text=Owner financing is a transaction,costs of a bank intermediary. So my questions at this stage would
  17. Hi @andyc54 I think that if you're just hoping to extend the leasehold (as opposed to buying the freehold) , you won't need to agree it with the rest if those in the other flats. This is as long as it's a standard leasehold you're hoping to extend, and not the commonhold! Have you spoken to your solicitor about it? They'll probably be able to let you know whether this will take a lot of time to work out - but personally, i think extending the leasehold is rarely a bad idea.
  18. According to the UK House Price Index, Northern regions continue to provide some of the highest price rises and rental yields in the country. The North West was shown to be the region with the highest annual price growth; average prices in the region rose by 11.9% to £184,351 in the year to February, up from 10.5% in the month before. In contrast, London saw the lowest annual price growth, with average price growth growing 4.6%. https://www.ftadviser.com/mortgages/2021/04/28/northern-regions-remain-strong-for-buy-to-let-investment/ I don't think these results are necessaril
  19. One of the most interesting property trends that arose from the COVID-19 pandemic, was the seeming migration of tenants from inner city apartments to more rural areas. Or at least one of the most talked about property trends in the press, anyway. But is investing in city centres a thing of the past? Or will it always pay off to put your hard-earned money in more urban areas? That's the topic of this week's Property Podcast, as the Robs talk us through what they see happening with metropolitan living; https://propertyhub.net/podcast/investing-in-city-centres/ Give it a listen and
  20. Welcome to the forum @stevec33! You're definitely in the right place Seems like you're hoping to create another income stream from the money that you've already saved up, and property investment is one of the best ways to do this. You're off to a good start, having started listening to the podcast and reading books on the topic. From what you've learned so far, are you drawn to a particular investment strategy? HMOs, straight Buy-to-let, flips... there's positives to every strategy, it really just depends on your goals and how much time you're willing to invest (pardon the pun)
  21. No problem @matt150189! I think that route sounds like a good shout. I understand what Julia has said about investing close to home, but if you're not going to have a problem driving up North to see/vet the properties, I think you could see great success by venturing further afield. There's loads of North West / North East cities in our Buy-to-Let hotspots for 2021. These are the places in the UK where Rob & Rob see great things happening in terms of ROI and continued growth over the next few years, so it would be a good idea to check that out if you're not tied to a specific are
  22. Hello @gabrield Welcome to the forum - and congrats on saving up the £55k! So, before we talk which kind of strategy you should go for, I'd like to know how hands on you'd like to be with your investment? Do you want to have some passive income, or do you have an interest in property and would be keen to stay involved in the properties? It just makes it easier to suggest certain strategies depending on the level of involvement you're after Thanks Mark
  23. Have you mentioned to them that this isn't something you've ever had to do before?
  24. Hi @lray - who is it that's asked you to add this to the contract?
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