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Found 17 results

  1. Dear all I'm new on this so I will try to explain my query as clear as possible. I would like to buy and renovate properties, maybe starting with small spaces as a studio or similar, and then to sell them again for profits. I'm thinking to do it trough my Ltd so I can invest the money directly from my ltd account (I'm the director - no employees) I got some basics questions on the above.: A- is to buy and sell properties trough my ltd legal? Even if my ltd has been settled as a consultants company. I'm a project manager working on constructions B- are the money used to buy and renovate the properties considered as expenses so they could be deducted from the turnover. C- as above, the money that the ltd will get from selling will be considered as a normal money earned by my Ltd D- Do you think would be better set up a new ltd dedicated for the activity of buy to let/sell properties? E - Any particular suggestion? I'm good to find the properties I know how to work on that and the potencial they might could have...what I missing is all the legal process, taxes etc etc Many thanks to all will spend a bit of time to answer Ciao Simone
  2. Hello All, I am considering getting a bridging loan for a flip project. I am interested to hear from people who have used bridging finance for flips. Who was your lender and what was offered in the product? A broker has mentioned a product that offers finance on properties £100k+ at 0.8% a month with a 1% fee, 70% loan to value, 100% refurb cost up to a year I think. I am also wondering if anyone has heard of Think Property Finance and has used them to get short term property finance? They have a similar product but with a 75% loan to value. It would be great to find a suitable lender that can be approached direct as broker fees can add up. Thanks, Jo
  3. Evening all, I am currently saving for my first flip property. My 5 year plan is to have saved £40,000 within 2 years, with my current savings being around £17,000. I also want to have flipped 4/5 properties in the remaining 3 years of my 5 year plan. My question comes in the terms of finding properties with small margins for profit. How do i go about find the properties where money can be made with not a huge amount of renovation costs. As i am finding at the minute, my renovation costs are really driving up my initial capital outlay, which i need to reduce as much as possible to get started as soon as possible. Any tips on finding those small margin properties and how to deal with them would really be appreciated. Thanks Dan
  4. Spotted this deal online, 2 bed for sale in Brinnington Manchester. Looking around I see area is not the best, however it is being sold for £95,000 which I can imagine I could bring down if I was a cash buyer and as its been on market for nearly 2 months. So presuming I bought at 95k, I was thinking of doing a refurb and flipping for 125k? I'm thinking 125k as looking on zoopla, I can see a property few doors down (in decent condition) sold for 124k few months ago. F Furthermore I first found its time on market and the fact its price has been decreased concerning, but the fact I can see an identical property in good condition just down the road makes it seem solid to me. Would love feedback from anyone here, what do you think of this 'deal'? Propertys referenced: https://www.zoopla.co.uk/for-sale/details/45476738?search_identifier=3f25391946b847db7d199f7ec343a497#fijXifF2W5WBKK8i.97 (TO BUY) Nearby Property that sold for 124, http://www.rightmove.co.uk/house-prices/SK5/Sandileigh-Avenue.html
  5. Hi everyone, I would be interested in any advice or tips, or just opinions on spending 40K budget on buy to sell property. The budget is solely for the auction purchase, not including the refurb. Very small budget, so obviously limiting in options and locations. Mainly I am interested in tips on best locations. I am obviously looking north as the property prices are low and I would be able to get something there. I have been looking at Newcastle area, North and South Shields, Leeds area and also Glasgow in Scotland. I will be all in soon, in coming months and it will be my first project, so I would be happy to hear from experienced property guys about what they think would be the best areas to go for. Appreciate any replies. Thanks!
  6. Hi everyone, Thought I'd introduce myself, Antony from London here. Currently own two properties which have both been renovated and rented out quite successfully. Owned one for six years and the other for the last 2.5. Ive got a few questions if anyone out there has any thoughts etc then please feel free to chip in as I'd love to learn from those more experienced/successful at this. So, current estimated value of properties is around about £1,100,000. Looking to sell them to free up cash as new stress tests are killing opportunity to remortgage. Once sold I shall be left with around 300k cash after all expenses and underlying debts paid. Ive identified a new area of focus for developments which I believe will make significant gains over the next 3-5 years with a view to buying to sell once renovation complete with a fallback of rental should suitable offers not arrive. Is it better to do this on an individual basis or incorporate a limited company and go from there? I want to write a business plan etc for the company should I go down this route and want to set realistic targets etc so is it worth seeking out professional advice in relation to this and company formation? How easy will financing be through the company mechanism? I've also read about the six month mortgage rule - will this affect prospective buyers if I have a mortgage? Currently all finances has come via banks but would be open to other routes if anyone can recommend ways to source etc or point in the right direction. Thanks so much in advance.
  7. Hi, has anyone worked with an individual or company who sources properties that need renovation (i.e. to flip) in any of the following areas?: - Northamptonshire - Cambridgeshire - Bedfordshire I'm struggling to find a sourcer who works with people looking to flip properties rather than BTL. Thanks in advance, Abby
  8. Hi Everyone! I'm interested to learn which metrics you consider most important when assessing potential areas for BTS renovation projects? I'm especially intrigued to hear what resources or factors you use to measure buyer demand, beyond the normal fundamentals! Cheers, Will
  9. Hi - i'm new to the property game. I'm looking for properties (flats initially) to refurb and sell on... i think it's called flipping !?! Can't afford anything close to London unless I'm extremely lucky Looking at areas like the NW, Nottinghamshire and the Midlands.. I'm a cash buyer with a fair budget to make a modest start hopefully with a decent profit. I have a really good builder but he's based in London where I am so to keep costs down I will have to find reputable builders in the areas that I buy in... Basically any advice and info will be gratefully received
  10. I would be very interested in talking to anyone who has experience of flipping properties around the Guildford area (10 mile radius). As per Rob’s suggestion, I’m happy to buy lunch for anyone with experience who would be happy to talk about their successes! Thanks, Charlotte
  11. Hi Everyone! I'm interested to learn which metrics you consider most important when assessing potential areas for BTS renovation projects? I'm especially intrigued to hear what resources or factors you measure, which go beyond the normal fundamentals! Cheers, Will
  12. Hi all, Does anybody have any recommendations for short-term light refurb mortgage lenders please? I'd be looking to get finance on refurbishing a run down property to sell. It'd be a light refurb as I wouldn't be extending or adding rooms etc. I'm building up my experience in this area (I've just done another light refurb on a house which I've recently sold) so that I can work my way up to heavier refurbs. I've come across Shawbrook - does anyone have experience of lending from them or any other similar lenders? Many thanks
  13. Good day fellow Hubbers! I was speaking so passionately about my property dreams to friends, and before we knew it we were talking numbers and decided to do a joint venture and Flip a property together. They have some cash to invest, I will project manage. Now, the whole concept is clear. We have a plan, we are ready to start looking for that lucky property. Or so we thought, my JV partners presented me with a few questions (and subquestions) which I am passing on to the forum for some help: 1) Business Structure - how do we set up this venture? Our partnership would be me, and my two friends (a married couple). We are all lower rate tax-payers. Do we a) Buy the property in all 3 of our names? Do the refurb. Sell for profit and divide profit as agreed? -This would add to our normal day-job income and taxed accordingly. It might push us into a higher tax bracket though b ) The couple buys the property in their name (this is their security), I put a restriction in the title deed which prevents them from selling the property before we are done with the refurb (my security). c) Should we start a Limited Company? We are all directors, profit can be extracted as dividends. I plan on keeping the company to do the same type of project with other potential investors in the future and my couple friends leave the company as directors? d) A mix of all of the above - I start a Limited Company, couple buys the property in their own name. Company does the refurb and gets remunerated by the couple after property gets sold. I have read in multiple articles that its best to do Buy-to-Sell projects under the umbrella on a Limited Company. Essentially I want to know why this is better? And how you go about it with a JV partner. 2) Stamp Duty - We are all first time buyers. (Oh, we just can't get enough of SDLT) After a few threads that I read on the forum, my understanding was that any First Time Buyer are exempted from paying SDLT, regardless if the property is your own residence, a buy-to-let investment or a property your planning to sell. After the last meetup I spoke to a few people about this and they confirmed the opposite - you are only exempted if its your first property, that you intend to stay in. Which one is true? a) Are you exempted from SDLT on your first property, regardless of the intention? b ) Are Limited Companies also exempted from SDLT for its first purchase (I am guessing, no?) 3) Help to Buy ISA - can you have this for the intention of saving for your own home, but also trade with properties in the meantime? 4) Capital Gains Tax - If we buy a property with the sole intention of trading, can we claim Capital Gains Tax exemption on the profit? - Does it work the same way with a Limited Company, or is there no CGT exemption for Ltd Companies? Any feedback / advice on any or all of the above would be much appreciated. These are the notes from our meeting and the questions that arose from it, apologies if its long-winded. Thank you for taking the time to read.
  14. Hi everyone My name's Jonathan and I'm a full-time property developer working across Greater Manchester. I've been buying, renovating and selling properties since 2011. I source properties through contacts at local estate agents and at auctions. I project manage each development and work with a regular pool of trusted trades. I want to scale-up my business so I'm considering working with private investors or with joint venture partners, but I'm not in a hurry to enter a business relationship without doing comprehensive due diligence (as I'm sure you're not). If you're interested in exploring the potential to invest or to JV, please do let me know. Thanks and best wishes Jonathan
  15. I am going to break up a previous post in bite-size questions. We are JV partners that want to embark on our first Buy-to-Sell project. We just need some clarity regarding the Stamp Duty: After a few threads that I read on the forum, my understanding was that any First Time Buyer are exempted from paying SDLT, regardless if the property is your own residence, a buy-to-let investment or a property your planning to sell. After the last meetup I spoke to a few people about this and they confirmed the opposite - you are only exempted if its your first property, that you intend to stay in. Which one is true? a) Are you exempted from SDLT on your first property, regardless of the intention? b ) Are Limited Companies also exempted from SDLT for its first purchase (I am guessing, no?)
  16. Hi All, I currently have two buy to let properties and I am now looking at new investment options going forward so I have been researching the property trading strategy with the aim to buy, renovate and sell on. I am trying to determine all the associated expenses and tax to decide if this is a viable option for me at the moment. I would really appreciate if someone with experience in this area could confirm a few points: - I have looked at bridging finance, are there any other finance options which are better suited to this strategy? - What is the realistic timescale for trading of one property? Have you had experience of selling a property in less than 6 months? - If your income is currently in the higher tax bracket, my understanding is that when trading any profit would be taxed at 40%? Which type of tax relief can be used with this type of investment? Any advice would be much appreciated. Thanks
  17. Hi Hubbers I am currently researching Buy to Sell deals, specifically renovating 'tired' houses that could make good rental properties / HMO's. How can I calculate an estimated selling price that a bank would consider reasonable (mortgagable), based on average rental income in an area? Is it as simple as reversing the 125% rule? Say a property can generate a monthly income of £500 Annual Rental Income = £6000 75% LTV Mortgage Amount = (£6000/0.125) £48000 Selling Price = (£48000/0.75) £64000 This is pure Excel-spreadsheet stuff, to analyse the viability of a Buy-to-Sell project. I would love to hear your thought and comments.
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