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Found 272 results

  1. amnonk

    HMO vs. BTL

    Hi, I'm new here and this is my first topic. I'm trying to make up my mind which way to go. The HMO way or the single lets way. I'm an expat so I won't be able to manage the property on my own. Since I will have to rely on an agent I think that investing in HMOs might be a safer bet. the reasons are: Rental yields are much higher. Less rental voids since you have multiple tenants. There is less exposure to arrears. The only cons I can find are that it might be more difficult to find an agent who specializes in HMOs. And that there is more wear and tear. I'd love to hear what your thoughts. Thanks
  2. Hi everybody! My husband and I are looking to get a BTL in Scotland (we have some contacts there). We're not homeowners and are wondering what's the best to do, buying through a joint personal mortgage or through a limited company. Our mortgage broker said that possibilities are very limited for us buying through a ltd, plus interest rate will be higher. Our idea is to build a small portfolio. Would it make sense to start with one property on a joint personal mortgage and see how things go? It looks that is more expensive to start with a limited company. I guess the problem would be that later we would have to sell this property to our limited company if we change mind in the future. Any advice from your side? Any recommendation for an accountant in London for a 1off consultation? What's a fair price for this kind of consultation? Thanks in advance to everybody! Teresa
  3. Hi All, I listened to today's podcast and thought it was interesting to hear Rob say that he believes there will be a crash or correction to the property market in the next 18months! This does not follow the 18 yr property cycle theory. What are people's thoughts on this??? Should we hold back on investing further at the end of the year? Interesting...
  4. Hi - I'm Jack, although lots of people know me as Brum - whatever you prefer is best! I have been to a meet up in Manchester and thought that this would help plug the void between contact at events - and enable me to access a number of other people who could help me in my property journey. I found my way here through the podcasts, which I have listened to religiously for a good while now, and made my way through the back catalogue in my long drives up and down the country... this is the first forum I have been a part of so I dont know the manners, so apologies if I make mistakes, just let me know and I'm happy to play by the rules. What you've done in property so far Helped a few renovation projects for friends and family Owned my own house for a number of years and let a room out What areas you invest in (or want to invest in) Looking in the north around established hubs Manchester/Liverpool/Sheffield/Hull/Leeds/York A mix of simple BTL's on houses or Apartments - potentially also looking at LHA to begin with to help with cashflow What your plans are for the future I'm in it as a retirement investment strategy alongside a few other investments Ideally I want to get my cashflow to a level matching my expenses, continue to work and then develop into capital growth markets over 15/20 years I am interested in flipping and also plan on doing some of this if the property is suitable Any skills or knowledge you've got that other members might benefit from I have been in commercial insurance as a senior manager/executive for a number of years and I'm an expert in insurance across a number of industry sectors I am from the Midlands and have good local knowledge of the area - in particular Walsall Wood/Sutton Coldfield/Litchfield I have lived in Manchester for 5 years and have good knowledge of Northeast Manchester near the Etihad/Failsworth/Moston/Ancoats I have a number of reliable tradespeople in my network I phave a netwrok with access to mobile cranes/skips and other machinary in Lancashire Hope to get the chance to catch up with more people soon Best, Brum
  5. Hey guys, just thinking it would be great to connect with you all on instagram. Its a much bigger platform now with great content posted constantly from some very experienced investors Anyway my username is unsurprisingly: Leenorthrop Connect and I will follow
  6. Hi, I’m looking to gift one of my personally owned BTL properties to my wife in order to benefit from her lower tax bracket. I’ve read that property can be gifted by either (1) legal ownership change or (2) beneficial interest change – the main difference between the two that beneficial ownership gives an economic interest in the property (i.e. share in: rent proceeds/ sale proceeds/ tax benefits) but no legal ownership & control. Has anyone gone through this process? Any advice on how difficult/straightforward it is? Cheers
  7. Hi All, I'll be heading up to visit Liverpool at the end of the month to get a feel for the place and view some properties. Im looking to get my first BTL here and I'd enjoy the chance to meet a local and talk about the city, its pros and cons, and what opportunities to look for over a coffee/ lunch. If anyone is around, please get in touch! Best regards, Alex
  8. My sister and I are in the process of purchasing our 1st property through our Ltd co, a 2 bed flat in Liverpool city centre close to the Liverpool Waters area. The deposit was paid on this, off plan, last year and it is due to complete in 6 weeks. We used a mortgage broker who was highly recommended on this site who submitted a mortgage application which was declined. We have been advised that any further applications are also likey to be declined and he has recommended that we withdraw from the purchase of this property. The main reasons cited were that it is an investor area wich would limit the re-saleability of the property and that there are a high number of developments in the area with many more planned. The developer is also offering a 7% net rent return scheme which the broker advised is further reducing the lenders available to us. Having done our research on what we thought was a good investment, we were shocked to hear this. Has this happened to any of you before? What are our options now? Is this scaremongering from an overly cautious (but experienced) mortgage broker or do we heed his advise? Many thanks if you have read to the end. We would really appreciate your views and advice.
  9. Hey everyone. I'm new to the forum but have heard great things from other folk. So I have a residential property where I currently stay and I have a company with 2 BTL flats. I now need to move out of my current residential, buy another one, but keep my existing residential for my parents. I'm trying to understand who should purchase my second residential property, as I plan to stay in it for a few years then convert it to a BTL, when we move to another bigger place in the future. We have the dreaded 4% extra stamp duty up here in Scotland which really sucks. My plan was for me to to buy the new second residential in me and my wife's name but we are both high rate tax payers and when we switch it to a BTL in a few years, we will get taxed heavily on the income. If I sell it to my company in a few years time, the company will be hit with the 4% I think. So do you recommend that I buy the new residential in my Ltd company, if I plan to rent it out in the near future anyway? And if this is the case, do I need to rent it off my company? My accountant is not the best and actually recommended I ask on this forum for any tips lol! Thanks in advance for anyone taking the time to reply
  10. My mother owns her own home outright which is worth about 110K. We are looking to invest in BTL together and have 60K capital between us; how do we go about releasing the equity in my mother's home so we can use the capital to cash-purchase a BTL property? Any advice greatly appreciated!
  11. Hi All, In the middle of remortgaging my BTL and the broker came back to me staying he could get me 33K Additional borrowing with the Life time variable rate or 40K+ with a 5 Year fixed. (FYI 40K additional would still leave me around 30% LTV). Why would banks be willing to lend more on the 5 year fixed vs the Variable rate and what are the drawbacks from this vs each other. Thanks Eamon
  12. LendInvest is launching a range of buy-to-let loans aimed at professional landlords and investors. The specialist lender, which to now has focused on bridging and development loans, says these new BTL mortgages will be “competitively priced” and include two-, three- and five-year fixes. Rates start at 3.69 per cent for a two-year fix at 60 per cent LTV. The firm will offer loans of between £50,000 and £5m, up to a maximum LTV of 80 per cent. “Offering BTL loans is a critical strategic step that not only serves to addresses a funding shortage, but takes us close to our long-term ambition of becoming a leading whole-of-market mortgage lender.” Just looked on their website and “There is no limit on the number of properties held or mortgaged by a portfolio landlord with other lenders. Properties owned abroad will not be included within the portfolio calculations.” Great news for portfolio landlords who would like more options. Wanted a detailed quote based on your circumstances: Neil@assuredfunding.co.uk
  13. Hello All, I am currently purchasing my first BTL so whilst this process is going on I thought I would look in other areas of the country to invest in. I was wondering if anyone on here has had any experience in purchasing a BTL in Sheffield. I have done a little bit of research myself and possibly the post code S2 fits my criteria. If anyone could give me more info on this area or Sheffield in general it would be much appreciated. I am looking for a 2-3 bed house for about 100-110k. Kind regards, Jay
  14. Hi everyone, Would appreciate your expert advice please. I need to remortgage two properties. One which is held in my personal name and another which is held in my limited company. A factor in mortgage rates is if they have an upfront fee and how much it is. I'm looking to understand if mortgage upfront fees are tax deductible as an expense for: 1) BTL mortgages held in personal name 2) Limited company BTL mortgages Can anyone help with this? Additionally, would be great if you could also point me to the government literature / webpage which details the policy surrounding this. Thanks a million! Darren
  15. My first post on here.... I'm looking for High Yield BTL's 8%+ I live in Leicester, which has low Yields, even in the cheaper area's of the city (Narborough Road etc) Nottingham has been my next step after listening to the Podcasts but I cannot seem to find any High Yield Property Has anyone got any suggestions? I would like to self-manage, but I am open to having my property managed if the numbers stack up. Also I am open to buying property in other locations but would like them within 1-2 hours of Leicester Appreciate your feedback PS. I do have experience over the years of managing property... upto 30 properties at a time including HMO's before a licence was needed
  16. Hi all, Very new to the world of property investment and even newer to Property Hub. What areas around Liverpool and the Greater Manchester areas would you recommend for strong yielding BTL houses or flats. Full Market Value of the properties would be anywhere between £80,000 - £110,000 (flexible either direction), would be looking to buy the properties BMV and refurb accordingly. Capital Growth potential on the properties would be ideal but not of utmost importance from the outset. I realise it is a big net I'm casting here but any advice/comments would be greatly appreciated from you guys and gals. Kind regards, Ian
  17. Hi all, Firstly my apologies for not posting anywhere near as much as I should! It is renewal time for my BTL, and I am torn between fixing in between 2 and 5 years. The two options provided by my mortgage broker makes the 2 year (2.19%) cheaper by £376 over the first 2 years, however I am swinging toward the 5 year (2.44%) for the peace of mind over the next 5 years whilst we deal with an potential fall or from the B word, whatever that may be... Appreciate everyone’s circumstances are different, but would love to hear what sort of length terms people have been, are, and are planning on going for on their recent deals Many thanks
  18. Hi All, New to Property Hub and Prop Investing in general, just posted an intro within the relevant forum if you'd like to say hi! There's a burning question which has been on my mind since I dipped my toe into property investment (and probably should have sought an answer to before taking the plunge).... The 'Breakeven Point' - How long should it take? Recently i've purchased my first BTL (£68k 2 bed). So as not to bore you, I won't give exact financial specifics, but to summarise: £2k Stamp £5.5k fees (includes sourcing fee) £5k refurb Total initial outlay therefore = £12.5k Assuming zero capital growth and assuming I receive the rental income I expect to receive, and deducting expenses (including a 10% allowance for repairs, Thanks Rob) i'll net circa £240 per month. This means it'll take 52 months to hit breakeven. Nearly 5 years!? Overall this just seems unviable. It seems too long to be waiting to reap the rewards of a significant financial investment that frankly could be put to work elsewhere (ie Stock market) and also, once I do hit month 53, the market may well be in decline (ie recession) and I wont even have chance to enjoy the passive income, or at least not as much as I might have hoped. I'm hoping that somebody may be able to reassure me and tell me that I am looking at this completely wrongly, ie not as an investor should? Maybe 'Breakeven' isn't something that is even considered in property investing, as I did struggle to find a forum that addressed it. Or is this just the nature of the beast, and patience is key in this game? Any honest and frank responses absolutely welcomed! Thanks Dan
  19. Hi all, New to the community and first post on this site. I am a UK dual citizen living and working in Australia. I was hoping to get some advice regarding my ability to secure a BTL mortgage with only Australian income? Thanks in advance!
  20. Hi guys, This is my first post in the forum! A bit about me and my situation to begin. I'm 24 and live in Chelmsford, Essex. I bought my own flat BMV in May 2018 and have just completed a full refurb on it to add value. I am hoping to finance to the new value and pull out equity to invest in April 2020 when my mortgage product runs out. I have also saved £17k cash that I am looking to put towards a BTL investment now. I am investing mainly for cash flow for the time being. I'm a fitness instructor and teach around 20 exercise classes a week as well as seeing sports massage clients, teaching swim lessons and managing a gym in central London. My job is very physically demanding and I want to have a revenue stream from property that I could fall back if I were to get injured and be unable to teach. I have been concentrating my search in Liverpool as it has seen a lot of growth and development in recent years but is still cheap enough that I can afford a starter two bed terrace or apartment, around £60k. I am going up on Monday to visit but am looking for some insider knowledge before my trip as all my own research is producing contradicting views on how rough some areas are! I have booked to view some properties in Bootle, Wavertree and Wallasey but have heard mixed reviews about all three areas (which I suppose is understandable as they are clearly the cheaper areas of the city). Do any of you currently invest or live in these three areas? Have you experienced any problems with tenants or struggled to let out properties in these areas? Are there any other postcodes I should be looking in to with my £60k budget? Any advice would be massively appreciated
  21. Hi folks, I am new to the Forum although have had a keen obsession in all things property related for many years now! I've finally decided to do something about it & am in the early stages of research - listening to the podcasts & reading up on all things relevant. I live in Edinburgh & my initial plan was to refurbish properties & sell on - flipping - the new term I have recently learnt! I had planned to start off in Edinburgh as I know it extremely well, buying at around £150,000, refurbish & then sell on & repeat. I had planned to try & raise the money myself through a combination of equity in already in our home, selling a property we already let in Edinburgh (bought by my husband in the winners curse period 2007 & valued at less than he paid for) & various other sources. However, having listened to the 2 Rob's I am now rethinking my strategy (leverage, inflation, opportunities etc) & feel perhaps I should go down the lettings route initially, starting off with one property (around £150,000) on a BTL & then another one in 6 months time once I've learnt a bit more & hopefully a 3rd after that. Perhaps moving onto flipping after that. I will be focusing on the Edinburgh area but will also consider East Lothian, Fife & Stirling. I'm looking for some advice on the following: Do you property investors out there think I've missed the boat for flipping in/ around Edinburgh area? (I have listened to the intriguing 18 year cycle podcast)! Does anyone know of a resource that summarises all of the key financial considerations I need to factor in for purchasing, letting, selling properties (i.e. stamp duty, estate agency fees, Solicitors fees, management fees, tax charges etc)? I have a lot of these noted already but want to ensure I don't miss any in my calculations & also to help me decide on my strategy. I am keen to set myself up for success - so any other information you think may help me decide/ determine my strategy would be much appreciated! Thanks :-)
  22. Hey Guys, I am new to Property hub as I have just started looking in the UK market due to the Australian market being incredibly unpredictable, difficult to gain a positive cash flow and potentially heading towards a correction. I would be looking at some small buy to lets to start in the Northern belt of the uk, Manchester, Leeds and Liverpool area. Great to meet you all. Thanks, Luke
  23. Hi all Apologies if this has been covered previously, I have searched for it but could find anything specific. I have two questions, as follows: 1) I am resident in Guernsey - still part of the UK - does anyone know if this would be a problem for me in trying to obtain financing for a Ltd Co from a UK provider? 2) Do I need to be a homeowner in order to obtain a BTL mortgage through a Ltd Co? My partner and I are saving for a deposit on a BTL and would like to purchase this before we think about buying our own place (we have our reasons, many of them) but I want to know if this will prove to be an issue for lenders? Does anyone have any experience of this type of scenario? Thanks in advance!
  24. 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 suggest as a more realistic strategy to build a portfolio? A mix of BRR and flips? The BRR Simulation (this is based on figures from an actual property visited, costed, estate agents approached and comparables found) I have starting capital of £100k I buy Property A (a two bed terrace) for £120k. I use a 70% mortgage of £84K, and I put in £36k Purchase, renovation and holding costs for 6 months are a further £36K Hence, my total investment is £72k I have £28k left in the bank The house is remortaged after 6 months redevelopment for £190k The 70% mortgage releases £133k ·After paying back the first mortgage there is £49k equity released I own one property and have £77k capital left in the bank I use the money to complete Property B, which is identical, buying for £120k, again investing £72k I have £5k left in the bank The house is remortaged after 6 months redevelopment for £190k The 70% mortgage releases £133k After paying back the first mortgage there is £49k released I now have two properties, but only £54k capital remaining in the bank, which is insufficient to buy Property C BTS Conversely, if I were to use a Buy to Sell strategy, this 'model' property would make £23k after sales costs and corporation tax on my business, so things are viable. However, my goal was to build a portfolio as quickly as possible, not to flip, as this is intended to be my pension. What would you advise in terms of strategy? Flip for a while to build more capital, then revert to BRR, or to alternate between the two? Many thanks!
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