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Mark Rocks

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Everything posted by Mark Rocks

  1. Hi there @ianwill Welcome to the forum, and thanks so much for sharing your story! I think it'll work in your favour that you've worked in property adjacent roles for more than 20 years. Have you begun looking into areas in South Wales that you're considering investing in?
  2. Welcome to the forum @propertyaddict999! When you say 'go further', do you mean you'd like to get some more BTLs under your belt, or is there another strategy that you'd like to adopt?
  3. Hi there @kenc - great to have you on the forum! Rob's Complete Guide is a really great place to start I found (and yes, I know I'm a tad biased, but it's popular for a reason!). Whereabouts would you be moving to? And would the new area you move to be where you want to invest, do you think?
  4. Welcome to the forum @jimbo! And congrats on the success of your first project, sounds like you did a great job at fixing that property up! In terms of the location, do you and your friend have any experience up North? You're definitely correct that there's more affordability up here at the moment than compared to the South East. Also don't apologise, you're not rambling! This is the perfect place to get all your thoughts on investing out!
  5. Welcome to the forum @rayharte! If you don't mind me asking, whereabouts in your investment journey are you at the moment?
  6. The UK house prices have risen at the fastest rate since 2004 in March. Prices are ascending to new record levels, and are now a fifth higher than the start of the COVID19 pandemic, rising 14.3%. Now the average price of a UK house is £33,000 higher than the same period in 2021, at £265,312. "Detached homes have gone up nearly £68,000 in price since the start of pandemic, a 22% rise, as people working from home sought out bigger properties, while average flat prices have increased by £24,000, or 14%." Nationwide's Chief Economist Robert Gardner has warned that he's expecting the market to slow down in the coming months. https://www.theguardian.com/business/2022/mar/31/uk-house-prices-grow-at-fastest-rate-for-17-years
  7. Hi @katerichy Here at Property Hub, we've made it our mission to provide as much education on property investment as we can - and it's always free. We believe investment should be everyone, so we'll never be putting our courses behind a paywall! You'll find all of our free Property Hub University courses at this link: https://propertyhub.net/?ph_courses=university&s=&search_type=blog
  8. Great to e-meet you @rich86 And don't worry about commonly asked questions - no question is off limits on the Property Hub forum! I shared the link to the 2022 hotspots with you earlier, which I think is a great place to start in terms of desirable locations. As for houses versus flats, this one is a bit trickier to answer. Generally it depends on how much time you wish to spend managing your BTL property, but as you are planning on using a management agent, this won't matter so much! But an easier way to decide if you'd rather buy a flat or a house for your first investment would be asking yourself these questions; - What kind of tenant do you want? Young professionals tend to prefer flats, while young families are more interested in houses. - Do you want to invest in a city centre? If so, you'll have far more luck finding a suitable flat as the first property in your portfolio as they massively outweigh houses in city centre areas. Ultimately both options can be as successful as each other from an investment POV, you'll just need to narrow down which kind of experience you want to have for your first investment in order to decide on which one you wish to pursue!
  9. Hi there @rich86 Welcome to the forum! We're very glad to have you here As for locations that might be the best place to make your first investment, I think you should start by having a look at Rob & Rob's Property Hotspots for 2022. They compile these every year, and they'll take a LOT of things into consideration; how are house prices likely to perform in the area, how many fundamentals do they have, and which ones are likely to see their fortunes rise in the next 12 months and beyond. Here's the link to this year's Hotspots episode of The Property Podcast; https://propertyhub.net/podcast/best-places-to-invest-in-2022/ There's a fair mix of locations in their list this year, so depending on your long-term goals (and level of comfort investing far from your home), you should have plenty of options to begin doing some desk research!
  10. The majority of the country has seen house price growth outstrip wages, in what is being deemed by some to be a sign of an affordability crisis. According to the Office for National Statistics, 91% of England and Wales saw their house prices increase at a far faster pace than their earnings last year. Naturally this is a cause for concern for first time buyers. But it’s also yet another sign that the fears of the house market crashing and burning due to the pandemic were unfounded. If anything, the market has SOARED to levels very few people would have predicted. Back to the statistics, and a surprising aspect is that affordability actually improved in London! Well, we say surprising... if you followed Rob & Rob’s overview of London house prices decreasing last year, then that affordability increase wouldn’t be much of a shock. Still, all the signs are pointing to a market that’s continuing to heat up (if only we had a penny for every time we’ve said that) https://www.theguardian.com/money/2022/mar/23/house-price-growth-outstrips-wages-england-wales
  11. Hi there @tomer11110 I've not invested in St. Helens myself, so unfortunately I can't share any anecdotes about the area, but I was wondering if there was a reason that you're focussing on that area in particular?
  12. Hi @James S You've probably already seen this in your research, but it looks like there's some regeneration investment taking place in the Bridlington area at the moment... https://www.thisisthecoast.co.uk/news/local-news/bridlington-seafromt-improvements-near-completion/ Do you think this could have a positive impact on the overall viability of the area for you to invest in it?
  13. Welcome to the forum @oknott Great to have a certified property sourcer on the forum! I'd love to pick your brains a little, just to find out what things you look out for when sourcing property? Is it the area, the properties themselves, or are there other aspects of a potential deal you're more focussed on when sourcing?
  14. Welcome to the forum @mikebrown78! I know that you've mentioned that you've not started investing yet, but I'm wondering whether you know which strategy you'd be most interested in going with yet? Generally most of the Hubbers on the forum who are just getting started tend to go for a fairly standard buy-to-let as their entry-point into investing - because it's the one with the least frills, and therefore usually the easiest to carry out! Would you say that's the same for you?
  15. According to Zoopla, "the number of properties put up for sale were 5% higher in January than the five-year average." And while house prices grew 7.8% between the end of 2021 and the end of January 2022, this does show signs of easing. "But there are signs that the rate of growth is slowing, with property values edging ahead by just 0.9% in the past three months, the slowest growth since August 2020." Have you noticed an increase in supply on the housing market since the start of the year? https://www.zoopla.co.uk/discover/property-news/house-price-index-january-2022/
  16. According to Halifax, house prices are rising in the UK at the fastest rate since 2007. Defying economic expectations, prices are still increasing at an average of £370 per week two years post pandemic. The price of a typical home has risen by more than £38,000 since February 2020, and during the last 12 months alone £27,200 has been added to the value. “This is the biggest one-year cash rise recorded in over 39 years of index history,” a Halifax spokesperson said. This meant the average house price had hit “another new record high” of £278,123. Would this increase in house prices make you consider selling any of your properties, or do you think this increase will pay off for you as a landlord in the long-term? Read the full story here; https://www.theguardian.com/business/2022/mar/07/uk-house-prices-rise-at-fastest-rate-in-15-years-says-halifax
  17. Need any more evidence that we're in a boom phase? For the first time in UK history, the average house price has exceeded £260,000 - thanks mainly in part to the shortage of houses for sale. Robert Gardner, Nationwide’s chief economist, said housing market activity had remained robust in recent months, with mortgage approvals continuing to run above pre-pandemic levels at the start of the year. He said: “A combination of robust demand and limited stock of homes on the market has kept upward pressure on prices. “The continued buoyancy of the housing market is a little surprising, given the mounting pressure on household budgets from rising inflation, which reached a 30-year high of 5.5% in January, and since borrowing costs have started to move up from all-time lows in recent months. “The strength is particularly noteworthy since the squeeze on household incomes has led to a significant weakening of consumer confidence.” Read the rest of the article here, and let us know how this sharp increase in house prices is impacting you as an investor: https://www.theguardian.com/money/2022/mar/02/average-uk-house-price-exceeds-260000-pounds-first-time-nationwide
  18. Hi @adamsmith104064 Welcome to the forum! Do you have a particular interest in property investment?
  19. Hi @richardrossetti Nice to meet you, and thanks for sharing your story! You're definitely in the right place if you're educating yourself - do you have any idea what kind of investment strategy you'd like to adopt?
  20. Hi @will-farmer Nice to meet you and have you on the forum! Are you an investor yourself?
  21. Hi @chris316 Welcome to the forum! Just wondering if there's a particular reason that you'd want to sell your current properties? As Vineet says, I think it would probably be best to transfer those properties into a LTD company if that's the route you want to go down!
  22. Hi @peterjoo Would you mind sharing a bit more information on this property? Whereabouts is it located, and how much is the asking price, for instance?
  23. Smaller properties are apparently being snapped up, in a sign of huge changes in the market. And if you need any proof, look no further than this microflat which was sold in London for £90,000. For that handsome price, the owner gets a bed, with a cupboard, storage space and a microwave underneath. “The space between the bed and the wall is about wide enough to spread your arms in, and there’s a foldout table for eating or working on. A toilet and shower are in a separate wet room.” Do you think the heat of the market means we’ll see an increase in these microproperties? https://www.theguardian.com/uk-news/2022/feb/23/londons-smallest-microflat-sells-for-80-above-asking-price
  24. Hi there @mo786 Have you got any other investing contacts who've purchased properties in Birmingham? They should be able to give some recommendations!
  25. Thanks for sharing your story @trooper149! I think you've got an awful lot of ground covered here with your strategy of checking the entire building out before purchasing. Add in formal surveyors coming and having a look at the place, it's very unlikely that you'll encounter any nasty surprises in the property before you purchase!
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