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Silvio Orlando

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Everything posted by Silvio Orlando

  1. Could sound messy. How old is the building and how much have you spent so far in this deal?
  2. What are the yields like compared to both city areas you've researched?
  3. I was going to write exactly what Derek wrote! There are certain pockets of Liverpool where your budget will comfortable get you a terraced house with similar odds of getting the capital growth you'd hope for.
  4. I think you're giving one person's opinion to much weight. Bootle does have some nice pockets, whether the tenants are housing benefit or not. What do the local agents say, what are the rents in your street like - that's what matters!
  5. Hi Jai, I live, work and invest in Liverpool. Welcome to your journey! I guess as a starting point, why don't you post a link to one of the properties that you're viewing. Tell me a quick reason why this house stood out for you, and I'll reply with my humble opinion.
  6. Hi again Phill, Just to help you focus. There are a TON of investors out there, there is a short supply of good deals. So I'm advising you to ignore whether there are investors out there, and try and find a deal. If you find one, I'm happy to be contacted and I can tell you whether my investors would like it or not. So get off the forums, and go book several viewings for this weekend! PS I don't know your age or career, but if you're able to, get a job at an agency. Working in the industry will accelerate your learning.
  7. As it goes, my broker last week was telling me he's seeing 3-month come in. He might have just been saying that to get me to pay for the coffee though! But I like to believe him, will explore.
  8. The problem with 'would I live there' is that you'll be cutting out (random number) 70% of potential stock you could sell to investors. Most investors don't care if they could live at this house, they just care whether the numbers stack up and whether the investment is solid and won't cause headaches. I can't comment on Samuel Leeds courses. From what I've seen on Youtube, these courses are very good at firing people up and making you feel motivated... but then that motivation still needs to be there months later when you've visited your 20th property with none of your offers having been accepted yet. In terms of content, I don't know what these courses would teach you that you can't get for free from Property Hub and other similar websites
  9. Hi Phill, I'm based in Liverpool. In terms of finding investors, I'll tell you from experience that investors aren't a problem. They are everywhere! It's the stock, the property deals, that are in short supply. Do you know what constitutes a good deal? Are you able to visit a property, work out how much its defects would cost to fix, and at the end of that does it represent good value compared to the neighbours. That's the skill you need to learn, which can only be done really by doing as many viewings as you can!
  10. So what do you mean about wanting to help out?
  11. Just seen this spreadsheet David, very clear and useful - I'll be using it thanks!
  12. Hi Martin, How would you like to help out? As you're based in Berlin I imagine you just want to use the project as a way of learning about refurbishments?
  13. Yep! It's a two-way street, yes the wrong agent will get dollar symbols in their eyes once they see your account, and yes the wrong alleged investor will waste a good agent's time. Just a question of marrying up the good guys with each other!
  14. Not necessarily. It's very easy to weed out the nationals. Allagents publish a 'league table' for the local area, so you can quickly see from the the top 5 names which are local / national. Sidenote, PB's account got suspended from Allagents last month. PB's lawyers forced Allagents to remove all their one-star reviews, so Allagents have started a crowdfund to take them to court!
  15. Two ways. One, go on a website like Allagents rather than Trustpilot. Hate Trustpilot, some of the 5 star reviews are terrible. "Great viewing thanks! Regards, Barry" (submitted by reviewer Steve. Shocking! Secondly, when you look at the Sold section of Rightmove. Look at the same houses on the same street that have sold in the past 12-18 months. See how similar the houses are in terms of size and condition, and compare the prices. Does one agent deal in volume but get lower prices? Avoid them, they're interested in sales targets, not getting the vendor the best price!
  16. At that price, you're probably looking at Housing Benefit territory. For example here in Liverpool you can get a 2-bed terrace for under £50k and you'll get £450 per month. As long as you don't have a stigma against HB tenants (there's good and bad, exactly like private tenants), it should be a safe bet.
  17. Hi Adrian, Your best bet is really to research the most reputable agents in the area that you're looking in. Check online, see which agents are quite proactive about BTLs etc. Then you email them, and probably arrange a call with them too. Bear in mind agents get dozens of contacts like you, a lot of which don't keep the momentum going. Stick out from the crowd, once you've identified an agent you like and trust, send them your proof of funds. Nothing like a bank balance with lots of zeros to show the agent that you are serious and ready!!
  18. Congrats on doing so well so early, and thinking of long-term as well! People do say buy local, but it really depends on where you live. If you're in London, you'll be severely restricted. However they'll be areas where fate has linked you to. eg your parent's home town, where your girlfriend is, where you went to uni. Go to allagents.com - it's like a TripAdvisor for estate agents. See the highly rated one in that area. Personally I'd hone in on the independent agents rather than the big boys, because independent agents have usually set up their own businesses because they really care about property and our good at it. Call the agency, if it sounds like a young person it's the frontline desk. Explain your situation, and arrange for the boss to call you. Hopefully the reviews weren't shills and he/she are genuinely friendly and knowledgeable! They'll be happy to talk to you about which pockets in that area are good to invest in or not.
  19. Hi, what are the benefits of incorporating into a limited company with the first property?
  20. Hi Jack, That does sound like s low ROI especially for outside London! Could you give an example of which postcodes you're interested in?
  21. Sorry forgot to mention - as for tax, I'm still scratching my head and chewing the end of my pencil trying to figure out the impact it's going to have!....
  22. Hi Lolita, How's your research going? : ) Getting a HMO mortgage isn't traditionally easy if you're an 'inexperiend landlord. However Liverpool is actually a good option for you because you don't need a HMO license if for example you have a two-storey house with 4 housesharers. Some councils would classify this as a HMO, but not in Liverpool. Your credit history won't rule you out from a mortgage, it probably just won;t get you the cheapest deals. Similarly, there are some mortgages that won't require you to declare an income (as the mortgage will be paid comfortably paid by the rent). With £50k you could probably buy a house in South Liverpool for under £150k, fill it with 4 professionals, earn about £1400 per month, pay £700 for mortgage and bills, and the rest is for profit / contingency fund.
  23. Cool day job, good luck! Do share any challenges you've got or have overcome.
  24. Hey Wes, I'm in a similar position. So bearing in mind that I don't actyally own a HMO yet (!), here's my research summarised: - Google your local council + HMO, you'll be taking to their page. CHeck what qualifies as a HMO. As an example, in one council it's a HMO if there's 5 sharers over three floors. In another council, it'll be 5 sharers over 2 floors. - If council says you need a license, they'll tell you how much it is! An example, £500 valid for 5 years. - If you need a license, you'll be told of the regs. The main ones are fire alarm system, bedrooms doors to have fire doors and appropriate locks, etc etc - Almost always, people living in HMOs will want it furnished. Bed, wardrobe, chest (bedding they can supply their own). Kitchen, yep I would kit it out with appliances and cutlery etc. Tenants will always bring their own, but you might as well stock up for when they leave. - finding tenants. go to allagents.com, seek out the top rated guys in your area, call and see if they source tenants for housesharers. A lot don't. Those that do may charge a premiim as housesharers are higher maintenance. Failing that, if you want to do it yourself, spareroom.co.uk is your friend. - Tenancy. This is where I'm not 100% positive. You can use a standard AST I think, but there has to be clauses inserted somewhere to protect the tenant. eg if one of them does a runner, then the other tenants shouldn't really be liable for that, that wouldn't be fair. All I got for now!
  25. Hi Ross, if you're going to self-manage, does that mean you're going to find the tenants yourself? Have you prepared for that!
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