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charles_b

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Profile Information

  • Location
    Montrose, Angus
  • Areas I invest in
    None as of yet. Looking to start this year or next
  • About me
    I am a full time working dad with a keen interest in obtaining some financial freedom and possibly accruing a small inheritance for my kids.
    I am a time served CNC machinist within the oil and gas industry. At present I don't have many contacts within the property world and I am very keen on networking and building long term working relationships.
  • Property investment interests
    At the moment I am keen to get into buy to let. As I don't have the skill set or contacts to take on serious renovation work at the moment.
  • My skills
    I am a very keen DIYer. I will tackle any job out there that doesn't legally require a professional to complete. My current job requires me to be very precise as I am working with high value accurate parts. This has bled into my daily life and I am somewhat a perfectionist.
  • My goals
    Initially I am aiming to replace the over time portion of my salary thus enabling me to reduce hours at work and focus more on family life.
    For the long term I would love to see enough capital growth to allow my wife and I to retire comfortably and provide the kids with a decent start in life.
  • Interests outside property
    My main interests at the moment are learning to play the guitar, learning to speak Spanish and I am a bit of a gym rat!!

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  1. Hi guys and gals, So just venturing into property investment looking to have our first house/flat before the summer all going well I am aware that the laws are different for every part of the UK and I'm curious are the taxation rules different aswell?? Also could any of you lovely people sign post me to relevant sources of information with regards to tax and in particular tax in Scotland. A quick Google and I am soon overwhelmed with all the information I really don't know where to start Thanks in advance
  2. @hatchy_ssc_hotmail_co_uk So after speaking with the mortgage advisor/broker last night this is exactly what he suggested we do. Take a further advance to release the equity as our current mortgage rate is so low a remortgage isn't viable. I am buzzing at the prospect of getting stuck in this year. The misses and I are both fully on board and going to write out, in paper, our goals. Thanks allot for your reply see you on the other side
  3. Hi guys, I might be wrong but I think the majority of property Hubs members hail from South of the border. As such I am just trying to reach out to anyone in Scotland as I am aware the process up here is different and would be keen to get to know people who have experienced the process up here. Thanks in advance for reading and I am in no means trying to shun a whole demographic just trying be more area specific 😁
  4. Thanks so much for the input guys I really appreciate it. I have a meeting tonight with a broker/adviser so hopefully things go well on that front. @Mark Rocks you mentioned that we are in a boom fase. So after just finishing the chapter on the property cycle I was just wondering at what stage we are currently on. I am based in the North East of Scotland and it's seems, especially Aberdeen, that house prices are rock bottom is this now the recovery fase up here I wonder??
  5. @david slater Thanks for the input mate. Sorry for the super late reply all my emails were going to my junk folder!! I appreciate what your saying and after reading the book i agree it seems there will always be some level of interaction needed. I've got a meeting with a mortgage broker/adviser tonight to talk about releasing Equity so hopefully get the ball rolling !!
  6. Hi @Mark Rocks, Thanks allot for taking the time to read and reply to me. I have a rough handle on the different strategies from the first book. I'm just now reading a more thorough explanation of them in the follow up book so will have a better idea when I've went through this. I'm planning on sitting down with my wife tomorrow night and going through the property hub university course about making a plan. I'm actually really excited about doing this. I myself am naturally quite cautious so on the face of it the very vanilla BTL seems appealing to me because of the relatively low risk factor. My partner on the other hand gets excited about the prospect of renovating so we will need to come to an agreement!! I feel like I would rather be very hands on for the first couple too really understand and appreciate all aspects of the process then find where my strengths lie and go from there.
  7. Hey folks, I'm after some advice. At the moment I don't have the capital to start investing. I also have a little debt that I am in the process of paying off. My thoughts for obtaining the starting capital is to release the equity from my home. My current mortgage deal ends in 30 months. So I was wondering would it be advisable to remortgage early and eat the fees in order to obtain the capital quicker?? At the moment I have a £3,000 cushion from past overpayments that would be more than enough to pay the fees. At the moment my house is worth circa £200,000 with my mortgage being £100,000 am I right in thinking you can release equity upto %80 of the value of the property. Using these calculations I estimate around £60,000 of starting capital. I understand this a personal choice that needs be made but would just like to hears others thoughts on this. Thanks in advance
  8. Hey guys Charlie B here. So a bit of back story. Like most people on here (I assume) I have been dreaming of creating a property portfolio since my late teens. In all honesty I thought I would have at least started by now (33) but hey ho. So where I am at. As of right now I have 2 year's before I can access the equity in my own private home without being charged a hefty amount. I plan on using this time to gain knowledge, up skill and hopefully build some good connections. I have read Rob D's property investment for beginners and am now reading the follow up book. I've came to realise to need for a solid plan instead of the vague idea I've always had in my head. Thanks to anyone and everyone who takes the time read and or comment on this post I really appreciate it. Any advice or direction would be greatly appreciated. Especially when it comes to laying out a solid plan on paper!! I've really no idea where to start!.
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