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Found 5 results

  1. I've just joined the forum as my business partner and I start our property investment journey together. Living in Leeds and looking to source properties for rent to rent, specialising in all year round serviced accommodation for young professionals and NHS workers. Any advice would be very welcome and greatly appreciated. Thanks all LR
  2. Hi all, I am new to property investment, and currently weighing up strategies for the coming years for my new business. I am set on BTL's for now but may try to obtain a Holiday let as I am based in the Lake District and believe there will be an increased demand for domestic Holiday's post covid. About myself, I am a Director at a father-son fire safety business based predominantly in the North West but do subcontract for nationwide companies. I have been in the industry for several years and have achieved Associate status with the Institute of Fire Engineers with me also being on track to achieve the sought after Member status towards the end of the year. I audit businesses throughout the country, from a small shop or Holiday Let to substantial Residential Care villages or food production sites with a multitude of risk. Through my experience in the industry and my recent research on the potential competition online, I continually find premises which are not safe. What is safe for you and I in our own homes is not for the paying guest! I can think of numerous Holiday Let developments I have audited which have gone through design with Architects, planning and approval from the Local Authorities or AI which are not safe to be occupied by members of the public. The guidance on Holiday Lets especially is vague, and the local Fire Enforcing Authorities requirements differ from county to county. For example, where I am based the Fire Enforcing authorities have recently taken the stance that 'fire escape windows' are no longer suitable for paying guests as you cannot guarantee that the guests are fit and able-bodied. This has resulted in 100's, if not 1000's, of Holiday Lets in the Lake District, which have open staircase arrangements, being non-compliant. Throughout all business uses, I see tick box, generic fire risk assessments which are not worth the paper they are written on! I have approached several management agencies in respect of the Fire Safety for the properties they manage as they are the face of several 100's of premises. The more they manage, the more risk there is and the likelihood of something going wrong. I have responses back which vary from 'clients are expected to tick a box to say there is a fire risk assessment in place', 'we provide them with a template to carry out their own fire risk assessments' or 'we have someone within our company who reads through the risk assessments to confirm they are sufficient'... My response to that is 'how do you ascertain that the person assessing in the first place is competent to do so'? Unfortunately, I believe it is a ticking time bomb and only a matter of time before there is significant injury or death of several occupants in this form of premises. I urge anyone who is currently involved in Holiday Lets, serviced accommodation, HMO's or blocks of flats to consult with a competent person in respect of Fire Safety. I am new to the forum but have already been helped by several of you to set up my SPV Ltd company so of course, if you wish to discuss the services I can offer, then please drop me a message!
  3. Hello everyone, I'm Bob, and i'm from Leeds currently working as a Prosthetist (artificial limbs). I'm 33 and for the last 6 months I have been researching property investment as a way to one day reduce my hours at work or even leave work all together as well and building assets for the future. I'm gutted that it has taken me 33 years to learn about the concepts of storing wealth and investing, but i am now doing everything can to achieve my goals. After recently buying my first home with all my savings, i am having to start from scratch to build up a deposit for my first buy to let. I think it will take me between 1 and 2 years, so in the meantime I am trying to listen to every episode of The Property Podcast, watching Youtube videos and reading everything i can on the area. So far i've read 'Rich Dad Poor Dad', 'The Richest Man in Babylon' and 'How to Win Friends and Influence People'. I plan to read Rob's books next. I have done my Property Dreamline and my property goals are: 2 years - Buy first property. One that could be used as a standard Buy To Let or Serviced Accommodation. Aim to buy BMV or add value and then recycle the deposit. 5 years - Net income from property of £1500. 10 years - Net income of £5000. (I should say I have a partner who i will be investing with) I wanted to post this not only as a way to introduce myself, but so I can be accountable, and I also wondered what people thought of my plan? Is it reasonable? Thanks to all in advance and especially to Rob and Rob for a great, down to earth Podcast. Bob
  4. Hello I'm a business management Graduate with a good knowledge of locations in Brighton, Guildford, Farnborough and London. I do not own property yet and I'm a newbie in the arena. I've been reading up on property for 12 months and have some capital; now I am trying to figure out what my strategy is but i'm not yet sure what the best route/ best locations are for me. My current ideas A) Serviced accommodation in Brighton or elsewhere 2 -3 BTL properties in Manchester or Liverpool Buy 3 bed BMV in London (Looking at areas in zone 2-3 with new crossrail stations set to open) Live in and modernise swiftly Rent out the two other rooms Refinance the property & withdraw funds Repeat the process My goals: To reach a net cashflow from property of 4k per month within the next 1 - 5 years (Ideally ASAP) Grow my account Hoping to find some sound advice in the community and will reciprocate where/ when i can. Look forward to speaking along the way! James
  5. Hi Everyone, Does anyone in the Glasgow area have any recommendations for FHL managers/cleaners? Thinking small, independent companies/individuals/teams that care and will engage promptly. Feel like I am losing a fair bit of control with current provider and with the level of saturation in the market and political uncertainty, I need a fresh approach! Feel free to message me with recommendations/thoughts. Kind regards Kirsteen
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