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Found 294 results

  1. Hello! I've never used a property sourcing company i was wondering if someone could give me some info on how to find them, work with them and figure out what the usual fees involved are ? I am interested in sourcing property in Leeds and potentially Liverpool and Glasgow. Any help is much appreciated. Thanks!
  2. Hi All, I am new to property investing and looking for some general advice early on in my property journey. My sister and I have £1 million in cash to invest and would most likely look to do this through using a limited company as a SPV. We both have limited time available to dedicate to property investing - I work long hours in a full time job and my sister is looking to set up her own non-property business. Ultimate personal goal: Ensure financial freedom, so I have enough passive rental income to quit my day job and and set up my own (non-property) business. General strategy: Diverse portfolio to minimise risk - aiming for a mixture of capital growth and rental income properties. Initially invest in professional lets with no renovation required due to minimal free time. Eventually want the option of expanding to HMO & holiday rentals when (hopefully) we have more time to dedicate to our property portfolio/business. We are first time buyers who live in Yorkshire and therefore would like to invest locally where possible, with an example portfolio shown below. Location Price No. properties Total mortgage value Total cash deposit L:V Goal London £500,000 1 £375,000 £125,000 75% Long term capital growth Leeds £100,000 6 £390,000 £210,000 65% Rental income Manchester £100,000 6 £390,000 £210,000 65% Rental income York £200,000 3 £390,000 £210,000 65% Capital growth Our eventual goal is to achieve a net rental income of £10,000 pcm. ~~~ Obviously we are very early on with regards to developing our strategy. In the next 6 months the aim is to purchase our first 2 BTL properties in/around Leeds. We aim to refine the specifics over the next few months and i'm sure our strategy will evolve to include more 'exciting' investments (HMOs etc) as we gain experience. I was wondering whether: 1) The general feel of this portfolio makes sense to more experienced investors out there? 2) Are we being too ambitious or too cautious? 3) What are the major strategy decisions we should make now before starting our journey Any feedback would be greatly appreciated. Kind regards, Johnny W
  3. Hi Property Hub members Having recently joined Property Hub I wanted to take this opportunity to introduce myself. I live and work in London and have had a keen interest in property and property investments for several years now. So far much of my attention was on purchasing and refurbishing my own home in London. Now that this is done, I would like to take the next step and invest some of my savings and recurring job income into BTL property. In terms of strategy, I am looking for BTL investments with a yield above 5%. That rules out most of Southern England. So I am planning to invest into BTL properties in some of the larger cities in the North. For me the 2 main constraining factors are limited local knowledge and time: While I know the London property market well, that isn't the case for Liverpool, Manchester, Leeds, Sheffield, Sunderland and other places in Northern England. To bridge that gap I am planning work with local people and to establish good working relationships which are win-win for both sides. Time is my other constraint. I am working in a demanding office job in London which keeps me very busy Monday to Friday. That leaves me with around an hour each weekday to spend on property management and investments. On a typical weekend I can spend around 8 hours on it. Hence I am looking for property investments which are largely hands-off and don't require a lot of attention during regular working hours. I could travel to Northern England from time to time, especially for important things such as meeting local business partners to work with and for final viewings. But my plan is to limit the number of trips to 5-10 per year. Here's how I intend to gradually progress on this: First, I am looking to learn more by reading many of the very good postings here on the forum. I will also have a number of specific questions that I hope people in this forum will know the answers to. Then, the next step is to complete my first property investment. For this, I am looking for a project with low complexity and low execution risk to start with. I am happy to accept a lower yield for my first project if this helps to reducing complexity and risk. For example, this could be a room in a purpose-built student block or a single let which doesn't require any meaningful renovation work. In this process I am hoping to learn more and to establish contacts with business partners in the North. Finally, with the acquired knowledge, experience and established business contacts I would like take on more complex projects with the potential of higher yields (or capital appreciation) such as larger renovations or multi lets. Via this forum I hope to exchange thoughts with you and to meet potential business partners in Northern England, for example good and reliable property viewers, property sourcers, property management companies and renovation project managers, to build successful long term business relationships with them. Please don't hesitate to send me a PM if you are working in any of these areas, I'd be interested in hearing from you. Looking forward to discussing with you in this forum. Michael
  4. Hello My parents currently have a BTL property, value of £375-400k with no mortgage, yielding £15k gross per annum. They have pension income of approx. £40k on top of this. My wife and I have a plot of land at the side of our house, that could get PP quite easily for a 3 bed detached. Cost to build would be approx. £300k Could my parents get a mortgage on their BTL property for £300k for the build costs? The new build will be in the names of my wife and me. Possible? If so, which bank / broker should we use?
  5. Morning all Just wanted to ask for some advice off anyone who is a few steps in front of me or is where I want to be. I am a 20 year old electrician and have been studying about property investment/ development for about a year or two simply just reading books, articles, forums you tube videos etc... My best pal and I (who is also and electrician) have decided to partner up on our property investment journey as we both have very similar if not the same goals relating to where we want to be and also feel that we would work very well with each other. We both live in Caterham surrey and between us both have managed to save up around £25,000 and also can get loans if needed. We have been viewing properties in areas such as Crawley/ East Grinstead about a 20 minute drive from our homes. Our strategy is for the first three properties we buy we will sell two and hold one for rent in the hope that we would have made enough capital to afford a BTL investment. Our goals aren't for short term cashflow it is for long term wealth as we both know you cant get rich quick. We have agreed that we will live off our current wages and any money made from the property business will be reinvested back into it in the hope that over a 10/15 year period we would have large property portfolio and leave our jobs as sparkies and become full time property developers as it has always been our dream. I know I have only touched on our goals/ game plan briefly in this paragraph but have one written up going into the depth about where we will be in the future if anyone is interested. Hope you all have a good day and look forward to reading any replies as I think we would both benefit massively from it. Kind regards Will.
  6. Hi all, Just looking for a bit of advice regarding BTL investments. I am trying to calculate the amount of money i would leave in the deal until such time that I can refinance and try to pull some of my money back out. I am hoping to buy 3 or 4 properties soon but I feel that I would stuck after that as all my cash will then be tied up. Firstly.. Is it realistic to expect to pull all or most of your initial investment out of the deal? I am struggling to see how this could be achieved even with the properties that need refurbishment. I have found that the refinance only covers the original loan and part of the refurb costs. Is there an 'acceptable' percentage to leave in a deal? Secondly... Some people I have spoken to have said you can refinance after 6 months and 1 day, some people have advised against this? Is there any implications on my credit score if I refinance after only 6 months? What are the down sides regarding this? Any help or advice would be greatly appreciated, Steve C
  7. Hi all, My wife an I are new to the property investment game. I am just reaching out to see if anyone could share a basic calculation that they use to formulate an offer on a property that we would like to buy, refurb, refinance and then rent out. I am using figures that involve me buying in cash initially, then hopefully pulling my money out after the refurb, but the offers required seem too low and we haven't had much luck with our offers so far. I'm not sure if I should be focusing on buying with a mortgage so only putting 25% down then refinancing after 6 months?? Any help/advice would be much appreciated, Thank you in advance. Steve.
  8. Hello Hubbers, This is week three in my journey into property investment, I have always had an interest in property but that was more towards finding a perfect forever home. After doing some digging and thankfully coming across Rob & Rob's podcast and subsequently The Property Hub it has really lit the proverbial fire into what will become a successful venture in the future. I currently reside in Herefordshire, as the title suggests, with my family so that is ideally where I would like to start my investment portfolio and eventually search further a field after getting my feet wet. Buy-to-lets (2-4 bedroom houses) with a strategy to buy-refurb-refinance is the aim, cash flow is key. In 1-2 years I would like the portfolio to match 1/2 my currently salary and 4-5 yrs - match/beat my whole current salary and in 10 years (ideally sooner) have the financial security to quit my job, focus on property and make a really difference by developing houses/projects from the ground up in the community. I know that this is the start of a very exciting chapter and all the research I have been doing, although daunting, is very interesting (certainly is a lot to get your teeth into) - that being said I could certainly do with some help to really focus on the direction, plan/goals that I have started writing/planning. If there are any Hubbers in the area I love to have a chat and for those with the experience anywhere else Id really appreciate a helping hand and hopefully in the future I can pay it forward. Thanks to Rob B & Rob D for really cementing the drive to get into property development, you guys do great work, your a credit to your industry and above all present and deliver your content with such consideration and professionalism. Kind Regards Chris
  9. Hello All, I have been working my butt off for the last two years on flips in the South. I work a 9-5 and have carried out nearly all the work myself, so i have learnt A LOT. Luckily the flips have been really successful and I am now in the fortunate position where i am able to withdraw some of the profits from those flips to invest in BTL properties. The next step is completely new to me. I want to keep my 9-5 (for the time being) and find BTL properties up North with decent yields but i am more focused on long term growth. Two questions; should i be looking at areas that will benefit from the HS2 line? Realistically how many properties will 60k cash get me?! I don't want to waste all the valuable lessons i have learnt flipping properties, so I will still be flipping properties in the South to hopefully generate more income to purchase additional BTL properties up north. What do people think of this strategy? Love the podcasts and visiting the forums here! Thanks in advance! Elliott
  10. 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 writing a page of pro's and con's... Blighty was the clear winner at a score of 8/2. I work on a month on / off basis when the going is good, I'm a sparky by trade, useful and experienced in a site environment, plus my brother is a builder. I currently have no property to my name and will have 200k - 230k in cash savings by the time I get back to good old GB. My salary is meant to be just north of 120k but is currently chopped due to the obvious. Now... onto the strategy (in brief form) Short Term Goals (2.5yrs) Move back to the UK and purchase a modest private residence with the aim to refurbish, create equity + keep until I feel the need to upgrade Purchase x5 BTL properties (each 60-80k) using an SPV by means of directors loan(s) and BRR strategy Continue working away + reinvest all SPV profits Mid Term Goals (5yrs) Have purchased x10 BTL's using compounding rents / BRR / directors loan model Upgrade private residence, be building good equity and overpay mortgage if possible (life may get in the way here) Continue to enjoy my away job + reinvest all SPV profits Long Term Goals (10+yrs) Company owns 20+ BTL's with a mixed spread of high yield / capital growth focus Primary residence has low mortgage repayments / high equity Option to scale back my day job from being staff to contractor and pick my jobs as and when At this stage I hope to be able to re-evaluate my portfolio and either press on investing or take some equity through sales, pay off chunks of finance to move closer towards a monthly passive income of 5k. I will adjust along the way and the numbers are not set in stone... ie If some of the portfolio has gained some capital growth and the money may be better elsewhere, then I intend to be as fluid as I need to be, because at 45 - 50yrs old, yield will be priority. I have the rest of this year to fine tune this plan but that's the general strategy right now. I would really appreciate some general feedback, thoughts, experiences, criticism and anything you this is good for me to hear. Thanks for reading and good luck. Jon
  11. Good evening, I apologise for how long winded I feel this may be. I feel like I am all over the spot and would appreciate the type of professionals that I could use to achieve my goals (accountant with experience in property investing, tax adviser etc) and even better specific companies who would be recommended. Ok, so I am currently a director of a ltd company which includes me and my senior director based in the North West. We have had a good few years business and have managed to survive lockdown with a reasonable pot of money in the business account. We have decided to take a proportion of the profits which I would like to use to start building a property portfolio. I continue to hover around the upper tax threshold and I am reluctant to take this as a dividend payment where it can be avoided. As I need cash, my thoughts are I could take the money as a directors loan and pay it back to the company until such a time I could stagger smaller dividend payments over the following years to manage tax efficiency? Or set up the SPV Ltd company now, loan the money from my current business to the new one and let the money sit there for 3 months at which time go for a mortgage? Am I right in assuming that regardless of the options above the mortgage lenders will see the money as a loan if they identify its source? My current accountant is reactive instead of proactive and I am reluctant to involve them in my new business. This has proven costly for me the last financial year in respect of a business car lease which resulted in a benefit on my tax return which put me significantly over the upper tax limit (without sounding like I am moaning, if I was advised on this I would have certainly taken the personal lease option). My plan is to set up a separate SPV Ltd company with my wife (lower rate tax payer) with an aim to acquire properties on a buy to let/buy to holiday let strategy (with a possible benefit of acquiring them on the way down in the potential coming recession). Over the next 5 years the minimum I wish to acquire is a tenanted BTL (where I remove as much of my additional investment out) then purchase and a BTL holiday let which my partner would manage as a holiday or corporate let (so that she can stop working/work only part time). I wish to obtain the Vanilla BTL first of all to act as an additional buffer for void periods with the holiday let. A golden egg would be to acquire a HMO as I regularly work with landlords to ensure fire safety standards are met within their premises and seeing the state of some of them I feel I could provide higher quality accommodation to meet the demand in my area. Ultimately, I wish to seek sound advice and put the right strategy in place to achieve my goal whilst being compliant and not doing anything illegal. Hopefully, this post hasn't resulted in you deciding to have an early night and I thank you in advance for any response.
  12. Hi all, Have finally decided to go for property investing as a way to reach financial freedom. Considering recent tax changes and updated regulations in this space, I’m considering doing it all via an spv and planning to start it out with an HMO. I live in London but want to steer clear of it due to high prices. So I’m looking in the usual suspects, the likes of Man, Bir, Liv... I am looking to share my experience with you guys as I go, but would also appreciate to get yours as I’m pretty new to all of this and feel like I don’t even grasp 1/10 of this subject. Any advice anyone would provide right out the gate? Generally? Also, am I the only one who struggles with Rightmove and Zoopla inasmuch as they appear to have some amazing deals there but there’s always probably a catch? How to spot these things? What kind of things should we keep an eye out for. I have also struggled to find a good real estate agent for this. Thanks all, regards.
  13. Hi there - first time buyer here looking to begin a BTL portfolio (as a limited company) without buying a main residence first (plenty of detail as to why in the 'Newbie' section!). The main issue mortgage-wise appears to be access to the best rates as a FTB and first time landlord, as a SPV. Question: If I was to purchase a property with cash (via an SPV), let it out, then 'remortgage' (unencumbered remortgage?) after 6 months to release 60% the equity, would this effectively leave me in the same position as getting a 60% LTV mortgage at point of purchase, but open up more (and cheaper) mortgage options as we wouldn't be first time buyers or first time landlords after 6 months? Any thoughts here?
  14. Hi All, I'm looking for some advice if anyone can help me I currently own a BTL in Nottingham with 61% LTV. The deal I currently have is a 2.58% repayment mortgage until the 31-12-2023. To exit the current agreement I believe it’s between a £3000-£4000 exit fee given that I originally got the deal on a 5-year fixed. My goal however is to change to an interest only mortgage and I’m looking for some advice on whether this is first and foremost sensible and whether it makes sense financially to do so given what’s available in the market? Because of the corona virus, is there anyway I could have some bargaining power with my current lender and reduce the exit fee if I remortgage with them?If anyone knows any lenders or advisors or has personal experience that could help with this, I'd really appreciate your help. Stay safe everyone. Fabs
  15. Hey PH! After being made redundant in the current covid climate, I've taken the opportunity to learn everything I possibly can do about property investment. As things are progressing, I've started to pull thoughts together and I did want to come to the forum after I had a plan set in stone, however I'd like to build up the network base simultaneously with my education. With a career background in project management in marketing/advertising, I'm very comfortable when it comes to managing projects/portfolios; so I figured that stepping into property would be a smart choice for future gain. The goal will be to build a portfolio of rental properties which turnover £2K in gross profit each calendar month, which I believe can be achieved if I invest in 2-bedroom flats/maisonettes in Luton - an area I grew up around before moving to East London/Essex. Quite finger in the air for now, but I grind to make things happen, so I'll be doing a lot of research in the next 6 months (with a wedding coming up too, God willing). By the end of the year I'll have a very informed strategy, hopefully with the finances to back a critical direction. That being said, I do currently rent and haven't purchased a house yet. I question whether I can secure a BTL without using the help to buy but still be eligible for the help to buy when I eventually purchase my own residential home? Thanks community.
  16. 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!
  17. Hi guys, My partner and I live in London and we don't have a residential property yet, we are still renting out. We want to get into property investment and we are wondering if any of you has done it while still being a tenant. As far as we understand, one of the lender's requisites for a BTL mortgage is to own a residential property first; is this bound to be much of an issue if not the case? We see two options: Buy a residential property first (so expensive in London) and then start with BTL as a second step, challenge of this is that it may take much longer to save due to property pricing in the capital. Going directly to BTL while being a tenant (if it makes sense). Thanks so much in advance. Diego & Ana
  18. Hi, I'm keen to know if any of you flippers out there have had to revise your strategy in the short to medium term with all the uncertainty around coronavirus? I was thinking about venturing into flipping in July/August and felt I had a strategy that would allow me to reinvest profits over time into BTLs. I'm now not sure it's a good idea and wonder if it's better to research and focus on a different approach. Keen to know your thoughts and plans. Best wishes, Kris
  19. 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
  20. Hello all, I've been looking at buying in Manchester and have typically been looking for a house within 1 mile from the city centre. My thought is that a house within close proximity of the centre could be of high value in the long run once the centre starts to expand out. Most prime areas are very expensive for houses but Hulme is one of the few areas where prices are still very low. I'm not from Manchester and not that familiar with all the areas but from all the discussion around Manchester it has got me interested. I would be grateful for your thoughts on the area of Hulme and its prospects for growth. Or maybe you guys have insights to the reasons why it hasn't had the level of growth compared to other areas close to the centre.
  21. Hi Everyone, Im really hoping some of you could share some opinions and advice for my situation and maybe tell me what you would do in my shoes. I currenlty live in a house worth £325K with a mortage outstanding of £225K I have found another property i would like to buy as my main residence which is £360K both properties are located in the south of england in hampshire so not the hottest location for capital growth but a good solid rental demand. After much head scratching i have boiled it down to 2 options: Option 1 Remortage my current property on to a LTB @ 80% LTV (5 year fixed as 2 year not available at this LTV) i would release £35K and the property would rent for £1200 pcm and cash flow at £272PM Net of costs and income tax. I would then purchase the new property on a 90% LTV using the relased equity and my £35K savings to cover the extra SDLT and fees assostiated, leaving me with somewhere arround £5K in the bank but 2 assets and 2 big mortages in an uncertain times. Pros: Keep a good cash flowing house, less transations so lower fees (no sale cost), ive lived in the house so know the market area and the target tennant well, second asset straight away rather than waiting IE gets my investing sooner, 5% Net ROI on a 3 bed semi house based on my cash left in. Cons: will leave me tighter than im used to cash wise, not sure a 5 year fixed mortage is a good idea right now? would prefer 2 years, i am emotionally attached to the house so worried i might be looking at it with rose tinted specticles, Current market conditions high risk? would it be wiser to cash out with option 2 now and wait. Option 2 Sell my Residential, by the new house and bank £85K to then go on and purchase either 1 larger or 2 small BTL properties somewhere at a later date once the economy is slightly more certain, negative to this is lost potential income and growth in the time it will take me on the addition transactions. i suppose the question on option 2 is with the 85K left over could i get a better investment or investments that give me a higher net ROI than 5% and higher net cash flow than £272 PM. Pros: More cash avaiable after move for light refurb on new home and or seperate BTL purchases, Cash out in uncertain times, less risk? Cons: Lost oppurtunity?, more fees, more transactions, taking longer to start investment journey, is there a better investment? I apprecate its a messy question with a few different layers but if anyone can unpack it and give me some feedback and opinions i would really appreciate it. Kind Regards,
  22. Hi Hubbers First post- happy to be an official Hubber :-) Can anyone recommend any good independant BTL mortgage advisors in Scotland? Thanks Duncan
  23. My Father recently passed away and has left his 6 BTL properties to my Mum. Some of these are unencumbered and others have high interest rates. We would like to transfer these to mine and my Brother's company and pay my Mum a wage from the rent. With the obvious cost of CGT and Stamp Duty will we have to purchase the properties? If so can she 'gift' us the deposit without physically transferring us the money i.e. buying the property at a 25% discount? I'm on the waiting list for Property Hub Tax but if anyone has some useful advise I'd greatly appreciate it. Thanks Laurie
  24. Hi there! Just wanted to know whether we are missing something obvious!? Or if someone else is asking this same question? With BTL mortgage borrowing rates at 3.4% in a Limited Company, how is leveraging favourable inside a Ltd company? Compared to 1.4% rates on a personal BTL mortgage? Mortgage rates are significantly different (higher) for Ltd Companies so affects the ability to build a portfolio with basic leveraging? Any insight / thoughts / strategies / lender recommendations would be fabulous! Thank you
  25. 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
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