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Adam Young

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  1. Hi all, I’m looking to take the plunge with my first BTL and have a dilemma so wondered what people thought. I’ve got about £25-30k to invest and thought I’d settled on Nottingham where I’d look for a mortgage on something around £80k which rents for around £600 but then started to look further North, Hartlepool to be precise. You can get a terrace house there for about £30-35k which rents for £350-380 so effectively you can get 2 properties for less than the price of 1 in Nottingham and the 2 of them would net more in rent than the 1 in Nottingham. I know that capital growth would be negligible compared to Nottingham but if i’m just starting out isn’t cash-flow critical ? Assuming houses do actually rent in Hartlepool and I’m not left with 2 empty properties my thoughts are to go with the 2 cheap ones and take advantage of higher cash flow and then let this build up for a deposit in somewhere with better growth potential next time. I’d appreciate people’s thoughts on this approach and what pitfalls I might have overlooked. Thanks in advance. Adam.
  2. Thanks for the reply and the information @dino v
  3. Hi all, I'm looking to take the plunge with a first BTL soon so want to get myself set up first. Does anyone have any recommendations for a good Accountant and / or Tax advisor in the Surrey (Guildford) area ? I need advice on Ltd Co set up, best way to arrange my fianances etc. Thanks and regards, Adam.
  4. Hi all, Apologies for what might be a vague question but I'm hoping that someone with more experience of refurbishments might be able to help. I'm a newbie looking to buy a first BTL and hoping to get something that needs a light refurb so I can add value and then refinance and pull out some of the deposit and refurb costs. The challenge for me is I have no idea what an average kitchen and bathroom refurb would cost so don't know what numbers to use when running the numbers. Does anyone have any advice on what to budget for likely costs in their experience ? The typical houses I''m looking at are 2 bed terrace houses so not massive floor space (last one I looked at had a kitchen 5m x 2m and a basic bathroom). Any advice gratefully received. Thanks and regards, Adam
  5. Thanks for the reply Eggbilly, there's some useful info in there and I'll look into what you've mentioned in more detail.
  6. Hi all, I'm a 46yr old IT manager who's wondering if there's more to life than working 9-5 so am thinking about getting into property with a long term view of being able to improve cash-flow, supplement a pension in later life and hopefully provide the means to help my daughter get a foot on the property ladder when the time comes. I'm torn between residential buy to let properties or commercial properties (shop / cafe etc) where I'd own the premises but lease the space to someone else to run their business from and I'd collect a rent. I think I'm aware of the different pro's and con's of the BTL side but don't have a clue about the commercial property side. Part of me thinks it'll be easier to manage rather than residential tennants but then as a newbie what do I know. Any advice on commercial properties or pointers on where to start researching this in more detail would be gratefully recieved. Thanks and regards, Adam.
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