Jump to content

Search the Community

Showing results for tags 'advice'.



More search options

  • Search By Tags

    Type tags separated by commas.
  • Search By Author

Content Type


Forums

  • Property Hub
    • Announcements
    • Property news
    • Introduce yourself
    • General property discussion
    • I need advice!
    • Progress journals
    • Property Podcast discussion
    • Property Hub University
    • Off-topic chit-chat
  • The Property Hub Summit

Calendars

There are no results to display.


Find results in...

Find results that contain...


Date Created

  • Start

    End


Last Updated

  • Start

    End


Filter by number of...

Joined

  • Start

    End


Group


Website URL


Skype


Location


Areas I invest in


About me


Property investment interests


My skills


My goals


Interests outside property

Found 138 results

  1. Hi all, I have just started out on my first business venture with a friend of 7 years, we have currently set up a limited company which will house our property portfolio and are in the middle of purchasing our first 2 properties one in Sheffield and the other in Doncaster. Our short term goals at the moment are to be able to focus on this as a full time career and leave our current jobs. We both have a fair bit of experience in construction so hoping this should help us on our way. Any tips would be appreciated and anyone investing in these areas please feel free to get in contact.
  2. Hi All,I'm just after a bit of advice really. My partner and I had reserved a new build prior to COVID using the HTB scheme and had a mortgage offer ready to go for exchange but the pandemic struck. The build was then stopped and completion window moved from initially Aug-Sep 20 to Jan-Feb 21. Unfortunately my partner has been furloughed and this mortgage offer has since expired. We therefore haven't exchanged and will be unable to do so without a mortgage offer. We are trying to arrange for another mortgage offer but despite being way under the possible affordability threshold of our mortgage (even taking into account my partner's furlough salary) our lender is insisting on a letter from their company to explicitly state that they will be returning to work after the furlough scheme ends in October. Apparently they are viewing the furlough scheme as a 'temporary employment' and therefore need evidence of that they will be bringing people back to work when the scheme finishes. The company is in events which has been very badly hit by the virus and have given very little indication as to whether they will bring back staff in October or start making redundancies. Apparently even if we were to reapply with another lender, they would also require this letter of confirmation. This is despite one salary able to cover the mortgage payments and even the possibility of putting down more than a 5% deposit. I am doubtful that my partner will be able to get this letter because the company doesn't appear to have made many decisions r.e. their staff and the furlough scheme as of yet and therefore without this we are currently unable to get a mortgage offer. Without this we are unable to exchange contracts. So the new build we have been waiting for over a year to be ready and which was delayed because of the virus, is now apparently in danger of falling through completely? Are there any lenders who are offering mortgages without requirement for this return to work letter?I wondered if anyone might be in a similar position and had any advice on how to proceed? Thanks for your help!
  3. Hi guys so have been on this forum since April but been working on doing my first project since Dec last year. Done some reading (thanks Rob And Rob ). Got my calculator sorted. Got a big chunk of cash saved up (big for me anyway). I am on a couple of property groups on Facebook and constantly bombarded with deals and sourcers. But cant find a decent sourcer or deal. But I feel a little stuck. Even though I only got my cash together in July. My situation is - have about £25k and want to do a flip or two to build up capital. Trying to find deals around S.Wales (I live here) and not looking to do a huge amount of refurb. Thinking to get a commercial mortgage as a first time buyer through a company we set up. Questions: Whats the benefit of putting it through a company? Have set it up as know we will need it for a few family HMOs (not mine). How do you source BMVs? Is there a place to find reliable sourcers? What advice would you give someone in my situation? Is trying to purchase a property for sub £100k and make 10-15k profit unreasonable? How long does it take to find a BMV? Is that like asking how long is a piece of string?
  4. Hey all, By way of introduction my name is Indy - recently stumbled across the property hub podcast and have been addicted since - listening throughout lockdown with most episodes repeating throughout the day. i recently was fortunate enough to purchase my first property that I currently live in . Starting at zero again and putting my goals and strategy onto paper I have come to a road bump - I need some advice / guidance if anyone could be so kind ; My aim is to save as hard as I can , possibly a grand a month for 2/3 years , in that time I would have built some equity to remortgage and here is the crux say I came into 50/60 k - I want to get into a buy to let strategy - however I’m aware that most mortgages are only 75% - which leaves me with a purchase price of 200k ish the south east England / west London - where I’m based - it’s really hard to find anything for 200k - so what would you do if you was me ? Would you wait to save a bigger deposit / find a new property to live in and remortgage the house I’m in now to a buy to let ? etc etc Does anyone know of any clever ideas / tricks ? Would be good to hear if anyone is in a similar situation . thanks indy
  5. So I currently own my own home where I have been living for 4.5 years which I was lucky enough to buy myself (saved by living with parents). My long term partner (not married) has just agreed to buy a new home for us to move into which will be an upgrade for us both and this will be in her name (until married). I now have the fortunate option of what to do with my property (Paid 178k now worth approx 210k - 2 bedroom on South coast). My first thoughts is to rent out my property but given my circumstances obviously the property is not within a limited company and I am just on the edge of the higher tax band 40% with my full time job. I guess I am trying to figure out the most cost effect / tax effective way to let out my property given these circumstances. Should I try to transfer to ltd company or just keep it private ? Be interested to hear your thoughts. Long term I would like to save up for another deposit on another property. I can’t release capital from my current property to do this as have to have 25% LTV for a buy to let mortgage (Just over 50K currently). Thanks in advance
  6. Good morning guys and girls I recently bought my council house with my mum through the right to buy scheme. Paid £199k house is worth 310k. I have 30k In saving which was originally for my first house until we decided to buy this one. I now want to buy a house cash (my mortgage is 1k a month so don’t want a btl mortgage aswell ideally) . My plan is to buy a 2 bed terraced in Grimsby for 34k and rent it out give it 6months then get a 100% remortgage and buy another and get 2 streams of rental income and have only 1 remortgage to pay (still paying residential obviously) . However talking to people they all said selling them sort of houses are fairly difficult. I’m looking for a second opinion or another strategy. I can’t take out no equity for 5 years (part of the deal with the council). Also I want to purchase these house in Grimsby through a LTD company . (Just turnt 24 this year ) would like to be financially free as soon as possible. Any and all advice welcome
  7. Hello, I would like to start building up my portfolio of rental properties in an SPV format. I am keen to start contacting mortgage advisers to look for the best limited company BTL mortgage rates. Does anyone recommend a good mortgage advisor with experience of helping a newbie get into the market ? Thanks Camilla
  8. Hello all! My partner and I are really keen to get started with building a property portfolio of Buy-to-Lets and HMOs. We have been doing a lot of research over the last 9 months and have begun saving some cash to get us started. I have around £6000 in a Lifetime ISA (and growing by the month) and we are trying to come up with our strategy for the next 5-10 years to create a property portfolio. Our aim is to be able to either quit our jobs, or be in a position where we can work/volunteer in an area that we are passionate about without having to worry about the salary. We do not have much knowledge or experience at this stage, we are just learning as much as we can from online resources like this amazing site. Our starting position isn't great and we know it's going to take a lot of time and hard work, but we're committed to making it happen. If anyone has any advice on a possibly strategy or tips on how to get started they would be hugely appreciated! Thank you Sarah
  9. Hi all, I'd be grateful for some guidance on investing in Liverpool (120k max budget) probably through a sourcing company. My story: I have 3 properties all in the southwest, am remortgaging to release equity and hope to have about 30k to invest. As you can imagine this won't stretch very far in the areas I'm familiar with (Bristol, Wiltshire) so now looking to broaden my horizons. I studied in Liverpool in the early 2000's, loved it and hope that I'm now in a position to invest. Complications: I'm in the military and have just returned from a couple of years overseas so am a little out of touch, for various reasons I'm also unable to devote much time to searching beyond getting on right move, so will likely need a sourcing company (or a lot of advice) to pick the right property. Ideally I'd like a fire and forget, already tenanted and managed property with a good yield (wouldn't we all!), I realise that not being able to devote much time to the endeavor I'm not going to get the deal of the century, just need a reasonably good one to keep my strategy moving in the right direction and not lose momentum. Preconceptions: Having had a scan of previous topics on the forum and a good rummage through rightmove and zoopla it seems there is plenty of opportunity. I don't think I'm likely to get in on any city centre locations, but Wavertree/Dingle/Kensington look promising. I'm not keen on the idea of student accommodation and not averse to, but have no experience of, benefits tenants Would like to aim for a 2/3 bed professional or family let. Questions: Where have people invested/recommend investing? Is it worth going for 2 super cheap properties in less desirable areas? Any advice on sourcing companies? Have been recommended Property Sourcing Liverpool, but not found much online in the way of testimonials etc and a bit nervous about throwing money down the drain for a poor service. Do I even need a sourcing company, or is the Liverpool market such that I could I do a thorough online sift and view a few properties in a day? Been in touch with RMP, but unfortunately can't get to London to make it work anytime soon. Aims - Would sacrifice some yield for potential capital gain over the long (ish) term, plan to hold all properties for the long run. Really appreciate any pointers and if I can help anyone with any advice on my neck of the woods, please let me know. Thanks Adam
  10. If a parent wanted to sell a property to their child for half of the value of the property, helping them to get onto the property ladder, would the equity in the house be enough to count as a deposit for the mortgage? For example, if the property is valued at £300k but the parent sells to the child for £150k, this leaves £150k positive equity in the house. Does this mean that the child would not need to put a cash deposit down? Thanks in advance for all advice!
  11. Hi, im looking to begin my journey into real estate and have plenty of cash saved up to begin. I was looking for some advice on how to invest it and what is the best way in 2020?
  12. Hi, I have Inherited a one bed property on a prime plot of land (valued at c.600k). There is potential to redevelop into a 5 bed property by either knocking down and starting from scratch or use the existing shell of the current property. What I'm not sure about is whether it would be better to make it into a 5 bed or 4 bed. I'd like to know how I can find out what the demand is for either and whether it's worth investing a bit more turning it into a 5 bed rather than 4. For context, the property next door was redeveloped a few years ago and is a 4 bed which has been valued at £1.2m Thanks
  13. Hi, Does any one have any recommendations for a solicitor to work on a ltd company buy-to-let purchase in Liverpool? Any help or advice would be much appreciated, this is my first one! Thanks, Kate
  14. I’ve done a few flips this year but as the buying and selling process takes so long, realistically I need to have more than 1 on the go at once. As I only have enough capital to put into 1. Is there a strategy / contract where we could agree a price with the seller for the property then pay after the refurb is complete and sold and also offer them a % of the profit on top? Someone mentioned about assisted purchase, deferred payment and development deals but didn’t elaborate on the detail.... thanks all
  15. Hi there, I am purchasing two flats in Leeds and need a recommended company to do the surveys. Any recos? Thanks a lot Nick
  16. Hello, I’m after some advise on my strategy. I have 2 options. I currently rent out one property and have done for 5 years. I am currently living in rented accommodation at the moment. What would be the best option without going into too much detail I have summarised the two options below: Option 1: > Continue renting out my rental property. > Continue living in rented accommodation. > Buy another investment rental property for around £100k (add money by renovating) and rent out. Option 2: > Continue renting out my rental property. > Buy a house to move into and live in for around £250k (add money by renovating). I would base the return percentage as being the same for both new properties within the options. Any advice on the above would help. Thanks
  17. Hi all, I am a keen investor in the south as this is where I live and Know. In the areas I invest I can pick up a 2 bed flat for around 135-140K with a service charge of around £110 A property like the above rents for around £700 - £750, and the demand is high. Mortgages I have on these are around £220PCM so the returns are not too bad. I have a number of these and am now investing through a ltd company, as I know many of you are. I am now looking to pursue capital growth as I am happy with my income. Can anyone recommend areas that may have more potential than the South in growth, and where the properties still cover their own expenses. Examples of any previous purchases and value increases would be great to hear about Many Thanks James
  18. Hi Everyone, I have made the decision to travel up to Leeds next weekend to carry out some viewings on property up to about £110,000. Only have 1 day and i want to make the most of the trip to get a feel and understanding of what and where is good new for a B2L and i don't want to waste any time doing it. can anyone advise me on some particular B2L hotspots in Leeds that i should make sure i go and see? I am split between going for a 1 or 2 bed apartment or a 2 bed terraced house that needs some TLC. any advise would be really welcome.
  19. All, I have found myself my first property and have started the process. I was just wondering what people's thoughts are pros and cons of a 2 year or 5 Year fixed mortgage. The interest is higher on the 5 year fixed. What are people's thoughts. Regards, Jay
  20. Hi guys! I'm new to property and I'm eager to get started. I recently attended Tom Heaney's free course this weekend and I want to know if anyone has done the same course or has paid for one of his further packages. I have only just stumbled upon property hub and I am really taking in their advice about watching our for scam courses. It is great to see the free content on this website. As I want to secure a deal within the next free months is it possible to do so without paying for extra help?
  21. Hi everyone, I've found myself in a bit of a predicament with an impending divorce and trying to figure the best way to navigate out of this situation. Any advice on the following details would be much appreciated. I have a property jointly owned with my ex. We have amicably decided she should get her share of equity that we've made plus any contribution to previous renos costs. This comes to approx. 60k. My issue is how best to raise the £60k. The easiest option would be to sell up and start again. However I've put a huge amount of work into renos and improvements over the last 18 months so would love to keep the place if possible. It's in a great area of town where values are rising and the rental market is strong so it should be a good investment. Current value £430k. Current resi mortgage £260k. Potential BTL interest only mortgage £320k. Monthly rental value approx. £1,400. I'm also a contractor with my own limited company. If hugely beneficial I could look into buying the place through the ltd Co. (Not sure about the mechanics of this at the moment though). Looking forward to any ideas what you'd do. Cheers
  22. Hey guys, I'm looking to do my first flip up in Leeds on a property between the £80k - £100k mark. I have approx £25k cash for deposit, fees and renovation but I'm just a bit unsure which route to go down re: financing. I want to try and get this flip down as quick as possible (within 2/3 months) so I'm not sure if this will affect how I finance the flip. Bearing the above in mind is there a clear route to go (mortgage or bridging loan)? Would really appreciate any advice anyone experienced can give on this! I know lenders don't like loaning to people flipping, but I've read you can work round this. I'm new to this and don't want to make any big mistakes! Thanks so much guys!
  23. Hi Hubbers, First post on here so please go easy on me I'm 27 (no major commitments) and have £30k to start building a portfolio of rental properties... I'm currently looking to buy my first BTL property around Leicester / Wolverhampton, so thought it would be great to hear everyone's opinion on sourcing good yield properties (+8%). I'm not too worried on what type of property / location, etc. as long as it's not HMOs (I want to keep risks relatively low and be hands-off where possible). Additionally, if anyone's got any particular experience with great property lawyers and lettings management' agencies that you'd be happy to share, I'd love to hear from you! I will keep you all updated with my ventures (providing I have no mental breakdowns ) Thanks all! Rafael
  24. Hi all, New to the forum and trawling through all the great content. Myself and my wife are looking for buy to let properties (mainly in the areas recommended by Rob and Rob on the podcast). Leeds stands out a bit for me, I've spent a couple of nights in Leeds and like the city centre a lot so am quite keen on the area for a buy to let. We're mainly looking for new or nearly new apartments that will require (hopefully) minimal effort in terms of management. I've noticed the LS9 postcode is relatively cheap and it seems there is a lot of regeneration going on neary by with the South bank regeneration and Climate Innovation district. Biggest concern with the area is maybe it's a little too far out (approx 25 min walk to the station according to Google Maps) and possibly a bit sparse of nearby amenties until the above regeneration projects are further down the line - who knows how long that could take?? I've seen other posts mentioning that captial growth could be slow but the yield could be high in this area but we are probably more concerned with captial growth at this stage. I'm wary that the area may be a bit run down so any advice on the LS9/Cross Green area in general would be appreciated. We plan to take a trip up shortly but with limited time available would like to focus on properties in the right areas. Any advice much appreciated! Cheers Sam
  25. Hi hubbers! Hoping that some of you may be able to give me some advice ideas about my next steps and strategy given my newbie status and the current lead up to Brexit. Current status Own house Full-time employment No debts - other than mortgage on house 100K cash in savings and cash input from parents on a pay back scheme to be decided.... Ultimate goals Within 5 years have a passive income of £1.5K while working full-time Within 10 years have a passive income of £3K leading to full-time property developing career Current strategy Buy and flip a house before April 1 2019 (purchase 60-70K, refurb 10-20K, sell 110-120K) Buy and flip a second house before April 2020 (as above) Both of these would be done out of Ltd company, registered as my main residence to avoid income tax With profits place these in a Ltd company and start to build a BTL portfolio using the BBR strategy Keep building BTL portfolio until the 1.5K goal is reached then grow cash pot/pay a large chunk of loan back through flip or new build and then continue to reach 3K goal. Question/Help 1. Do you guys feel that this is the best strategy given the current unknowns about Brexit? I took part in TPH survey and listened to the responses and I agree with the majority that not much will happen and to continue with my current plan. That said, if property prices were to dive over the next few years then my strategy clearly does not work 2. I was thinking that an alternative strategy would be to use the 100K for deposits on 4 houses and refurb using bridging finance then refinance and let these. The money out I would then use to pay loans, before seeing how the finances and outlook is and then and make my next move, new build/HMO/flip. But again if prices were to drop my refinancing could be limited 3. What strategies or cover are you putting in for Brexit at present? As always I really appreciate all your help and advice. Mike
×