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Everything posted by russellshire

  1. Hi @andrewtjl welcome to the forum. One good place to start is to look at other similar properties in the area and see what they're charging. Sometimes the service charge will be easy to find, but if it's harder to find you might need to pose as a potential renter with a letting agent. When finding similar properties make sure that they have similar amenities, lift, car park, gym etc as that'll be partially how the costs are justified.
  2. @steve_odai I remember once we all downloaded snapchat so we could send each other pictures of the dishes whenever they needed doing. Lasted about a week
  3. That does sound interesting, in ten years of shared houses we never had a good system.
  4. Out of interest @james_69 did you get any information that you couldn't have gotten from free sources such as the fantastic content produced by property hub (disclaimer: I am responsible for lots of the content produced by property hub and therefore incredibly biased). The reason I ask is, we will totally make that content and provide it for free. I know it sounds a bit idealistic, but we genuinely want to give everyone access to free information about property investing because we think it's a route to financial freedom and long-term wealth.
  5. Hi @jaynie, Welcome to the forum! Congratulations on the growing portfolio. For future acquisitions are you thinking BTL or holiday let? Obviously Rob & Rob are super keen on hands-off long-term BTL, but holiday lets can be fantastic for income, although they're quite work intensive! Whatever strategy you choose we've got lots of great free resources on our website: https://propertyhub.net/search-getting-started/
  6. This actually happened to me, except the time was six weeks rather than several months. We chose to wait for the tenant to move. This was for several reasons, 1) the time was relatively short and we had a place to stay 2) we were afraid they'd never move out, sitting tenants have a lot of rights and moving them on requires following Section 21 which we had no experience in 3) if we moved in we'd be paying rent and the mortgage while trying to collect rent from these tenants we had no knowledge of. Because it was only six weeks we waited to complete. If you have the option to wait then it's less complicated, although with prices rising there's a chance another buyer could swoop in with a higher offer. I guess it'd be helpful to hear from someone who did take on a sitting tenant too!
  7. @haf1963 the 90s was 20% drop but over a five year period. The difference this time is we don't (yet) have the conditions for forced sales to drive down prices. The recession in 2008 was intwined with property but a recession this year would be caused by inflation and pandemic recovery, which may or may not impact house prices. The article attempts to tackle the automatic assumption that recession = house price fall. I may not have succeeded though!
  8. Rob D has released another video on inflation based on the research from his new book. It's a different view that we're used to hearing on inflation and has huge implications for property investors.
  9. Rob & Rob touched on the difference between property prices and a recession during an Ask episode last week (https://propertyhub.net/podcast/ask337-recession-house-prices/) I thought it was a really interesting point and decided to expand on what they said and explore it further in an article: https://propertyhub.net/recession-will-property-prices-drop/ We'd love to hear what you think is in store for property prices if there's a recession.
  10. https://propertyhub.net/podcast/investment-principals-make-you-rich/ It’s a very interesting time for not only the property market but every market out there. If you joined us on the podcast last week or have managed to get your hands on Rob D’s new book you’ll know exactly where we are right now and what the financial environment of the future will look like, giving you that edge when you’re deciding what to invest in. But we’re about to make it even easier for you as Rob & Rob reveal the five investment principles that will make you wealthy. If you harness these principles not only will navigating the market become easier for you, but you’ll prosper as a result. What did you think of the episode? There are some principles that could be controversial or provoking because they feel risky - but is that because we can't stop thinking about finances like it used to be rather than how it is right now?
  11. Hi @nirajb, these were pre-pandemic events. They could come back but there's nothing in the calendar yet.
  12. Rob & Rob have discussed what they'd do differently if they started again, quite an interesting thought experiment looking back and seeing how their decisions did or did not meet their goals:
  13. From the Guardian: There were a few rumours about this happening, and here it is. Could be a huge boost to the boom phase of the property cycle allowing people's borrowing to keep up with rising prices. Of course taking away stress-tests on interest rate rises, just as interest rates are rising could lead to some risky borrowing! What do we think? Bold move to boost the market or removing an important safety net right when it's needed most?
  14. @CH_ Prices will undoubtably cool off, but for them to drop we'd need some forced sellers in the market. Interest rate rises could theoretically make some homes or investments inviable, but most people are fixed for the next few years.
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