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Found 21 results

  1. Hey, just looking for some advice/guidance....I have the opportunity to purchase a property at c. £110K cash (which I can do), its on the market for £150K, desktop valuation shows £149K, so definitely BMV. It is a 2yr old build surrounded by older properties, so at the top of the list in terms of value when compared to other local properties. There is no work/refurb needed, just a motivated seller - But, I dont want to leave all my cash tied up in the deal and therefore would look to mortgage the property at around the 6 month mark. My concerns:- How will I get t
  2. Hello & Happy New Year to you all! I am considering the Buy, Refurbish & Refinance strategy and in this scenario would be using a bridging loan for the purchase (along with my own savings for the refurb). Whilst I know predicting the market is nearly impossible, I would like to be able buy with some confidence that the local market would be in a good position in the short term so I could continue with my strategy and refinance, pay the bridging loan off and pull out some (or hopefully all) of my money. Are there any market indicators I should be looking for? Is there ev
  3. I'm looking at purchasing properties using the BRR model, but I will want to refinance them before the so called '6 month rule' of ownership. However, I would rather avoid buying the property using 100% cash through bridging finance if possible (due to the expensive nature of short-term finance). The podcast mentions Day 1 Remortgaging where you buy the property (typically BMV) and the surveyor agrees in principle what the house will be worth when refurbished to a high standard. Using numbers to illustrate: Purchase price: £90k Value once refurbished: £140k Refurb c
  4. Hi all, Hoping I can get a little help here on my first post. As I don’t have a great deal of capital for my first investment I am looking to do a BRR on a flat locally first. In people’s experience have you been able to add enough value for the refinancing? I am looking at £100k purchase price, £7-10k refurb (Bathroom, Kitchen, Carpets & Redecoration throughout). Aiming for a £130k valuation (running the numbers of a worst case scenario at £115-120k). Recently sold comparables at £127-132k and a couple of outliers at £145k. Obviously these are sold prices though not a surve
  5. Hi All, I've been using 14days in an isolation hotel to research, educate and prioritise my investment strategy, to ensure a secure and free future. This forum has been trailed, books read and umpteen brilliant Podcasts listened to, so thanks firstly to Rob + Rob for their inspirational effort and to everyone else involved on this forum! Background: I'm a single 34yr old expat, but although I live abroad it's not essential to my job, so I now intend to move back to the UK at the end of this tax year. Seemingly a hard decision to ponder, but when taking advice and simply w
  6. Hey all, I'm in the process of planning a new venture in property development. Over the past few months I've visited properties, built myself a comprehensive budgeting spreadsheet (that factors in all purchase, finance, holding and remortgaging costs), and gathered enough data to be able to run a simulation of my intended BRR strategy. The result has been discouraging! It would appear that given my starting capital of £100k, I'll run out of funds by my third purchase. Would an experienced developer sanity-check my simulation and confirm this? If this is indeed true, what would you su
  7. Hi, I’m starting my BTL journey and want to understand how everyone goes about assessing multiple BTL opportunities. Some people seem to work on a 7%+ gross yield basis, while others drill down into net ROI which gets pretty complex when comparing lots of properties. What’s the best approach? How do you assess your investments? Thanks folks
  8. Hey guys, After some opinions on the scenario below. I am currently purchasing a flat in my company that after a BRR I will leave 22.5k of my own money that will yield 20% if rented out. Total equity left in the property £44k. I also have another flat in my personal name that I could sell that has 38k equity ready to release. (Initial investment 41K) My current return on cash in that property returns 13%. I am looking to release funds to carry on building my portfolio / pot of cash. Which option or other strategy would you consider an
  9. Hey all, Can anyone clarify how Yield, Equity & ROI should be calculated when following a Buy, Refurbish, Refinance strategy? Most online resources only discuss these in terms of purchasing a property and letting it out / selling it, rather than refinancing it. I want to make sure my metrics are comparable with everyone else's! Theoretical BRR Scenario: I buy a property for £120k using a bridging loan and a deposit of £48k I spend 6 months renovating it, with the finance costs & renovation totaling £25k I then refinance onto a BTL mortgage with the property valued by
  10. Hi, I am a qualified Surveyor with over 20 years of experience and after setting up my own Chartered Surveying practice i have decided to embark upon a new journey into property investment. My main objective is to build a investment portfolio that will support me in later life, and which i can pass on to my children when my time is up. Giving them the freedom to choose how they live their lives. My plan is to do this by starting off with BRR & flips, as i currently have limited funds but 20 year of construction knowledge, with the intention of reinvesting the profits in ord
  11. Hi, I am a new investor doing my background work for my first BRR and am looking for some advise on areas to consider and/or introductions to trustworthy property sources in the area. kind regards
  12. Evening everyone, I'm Adam, I have always been floating around in the back ground reading forums, listening to podcasts but never wrote into the forum myself. (first time for everything I suppose). I see a lot of helpful people and answers all over the forums, I'm hoping now I have the courage to write a comment myself that this will give me the kick I need to just go for it. Right so hear goes. I have a annual salary of around £30k and I currently have one property which I am deciding to rent out after a light referb, due to moving in with my girlfriend in her pro
  13. Hi everybody, I thought I’d write this to introduce myself and also to provide me with a little bit of motivation, as I expect this community will be great at holding me accountable for my goals. I’m currently in the middle of a live-in refurbishment with my wife and 2yo daughter. We’ve been hit by some tough times over the past three years since we moved in, so nothing has really gone to plan. I’ve been doing most of the work myself-I’m a civil engineering project manager by day and a DIY dad by day-off/evening/occasional weekend. It’s been hard balancing work, dadding, husbanding a
  14. Hi guys, I feel I have found a great deal local to me. The property is currently listed at under 40k but I think it could sell for less. However, properties in the same area, even on the same street, are selling for 70k+. The property is slightly run down and so would need refurbishing, but would this boost the value to that 70k mark? My numbers at the minute are: 10k deposit 30k mortgage (or bridging loan) 10k renovation refinance at 70k 52.5k mortgage -30k first mortgage/ bridging loan -10k deposit -10k r
  15. I'm just getting into this property thing, having been an accidental landlord in London. We sold the house last year to release equity for various reasons and are looking at re-investing some in the Notts area. I am currently looking at a 2/3 bed townhouse in an area that I have long considered to be a growth area. It is currently going through a regeneration program (that links in with others such as 'the gateway to the City') and has seen investment from private p. development companies buying up plots of land for eco housing etc. The schools are improving, its located near the r
  16. So. I’ve finally managed to figure out what the right strategy is for me once my deposit is saved. May father did tell me that he was willing to borrow me £20,000 towards my first project but as much as i have a great relationship with him I feel borrowing money from him for a first project is not a good idea. I can currently save 1,500 a month so it’s a better idea to just wait 17 months for a healthy pot to start. My strategy is for my first property to get a BTL mortgage and buy a house with the BRR model in mind as it’s slightly less risky than getting bridging for my firs
  17. Hi all, Up until now I've been following a simple slow and steady investment strategy of buy properties in my local area and letting them out and every few years remortgaging to free up the equity to buy additional property. The problem is that I live in the South East and the yields are pretty poor (At least relative to many other areas in the UK), and having ready Rob Dix book (Complete Guide...) and listened to The Property Podcast I realised that we should be doing much better. What I'd really like to do now is use a Buy Renovate Remortgage (BRR) strategy so that we
  18. Hi all, I currently have 6 properties that I let (5 personally and 1 in a limited company), and I'd like to continue to build my portfolio. We inherited a couple of our properties when my mother died and to be honest the ROI isn't very good, so I'm wondering if we'd be better off selling these and buying elsewhere where the yields would be better. Obviously the down side to this is that we'd need to pay CGT on the sale and Stamp Duty on the purchase. So here are the actual numbers for one of the properties: Original Purchase Price (Actually the
  19. Hi Everyone I've spent the last 6 months renovating a very tired 2 bed terrace. You can see some before and after photos here on instagram. (click the smaller arrows within the photo to see 5 more images) Its currently on the market for £105k with me happy to accept £100k. Some rounded sums for you to see the position I am in: Bought for £48.5k All, fees, refurb, materials etc: £33k Total: £81.5k The market in North Wales seems very flat, or perhaps its my specific area, or perhaps I am asking to much. Maybe a combination. I am no longer
  20. Hi, Just looking for some guidance/re-assurance around the BRR (buy, refurb, re-finance) strategy with a specific deal I'm looking at, also keen to understand if this would be deemed a good deal or not. Purchase price = £115k Bridging loan = £80k (75% ltv) Finance fees = £6.5k Legals & SDLT = £4.5k Refurb cost = £10k (costs plus 20% contingency) Re-finance after 4 months @ £150k Pull out £32.5k with new mortgage 75% ltv Leaves £37.5k equity after paying back bridge loan So I've invested £56k of my own cash T
  21. Hi guys, Looking to hear from investors who adopt a buy - refurb - refinance BTL strategy. What are your expectations and experiences in terms of the % of money you can get back out of a deal? I'm looking at 1970's terraced, 2/3 bed, requires light refurbishment (£10k max - maybe a new bathroom or kitchen) and buying around 15% - 20% BMV. Refinance as early as possible (6 months but my broker believes we could do it earlier) and recycle deposit. You may not be able to judge my deal without more area info etc, but keen to hear what normal returns
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