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Found 6 results

  1. 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
  2. Hi John here, I'm looking for a bit of advice regarding property in general to see if its something which would make financial sense. I've looked at it in the past however with lack of funds it hasn't been viable. Recently I have come into some inheritance due to a family member passing away and instead of spending it, I would like to invest it into something that will continue to grow. Little about me - 24 Years old, Salary 20-25k, Lump Sum £125k. What I'm Looking for - - Should I invest in a house or flat?, I understand that houses are usually less and incur no service / ground rent charges? however flats seem more desirable. - For my first investment, what should I look at buying? any Tips/Tricks? - Is a Buy-to-Let mortgage a better idea or should I buy it outright? - Should I go for fully Managed or rent only with an estate agent (any estate agent recommendations in the north west would be great) Thanks for you time.
  3. Hi all, I was having a lively discussion with some fellow investors and wanted to hear what people on this forum think. Whether you're a seller or a landlord, how do you choose which agent to market your property? I've had 3 projects with 3 different agents and I can't say I've nailed down a system yet. First, I went with the cheapest, thinking it was good business sense. But of course, you get what you pay for, which I learned the hard way. Then I went for the agent who originally sold me the property - thinking they know the property and how much work I put in renovating it. And lastly I went with a personal recommendation from a friend who had a good experience. All 3 eventually sold, which means I can't complain too much, but I want to develop some kind of rule/decision process to make this easier. What does everyone else do?
  4. Hi hubbers, I would love your advice. Quick background - I own one BTL and own an apartment where I live. I'm ready to buy a small home with a garden and intend to put my apt up for rent. After an extensive property search I have found a beautiful small detached period property in a nice area. Full of charm etc. The property was owned by an elderly lady who took great care of it but it does need modernisation. I hope to knock through the living room, dining room and kitchen into one and put patio doors in. It is a 2bd plus one box room btw. The property is on the market for £175K. A semidetached of same layout on the same street which has been modernised already, is on at £155K. My architect predicts a 30-40K pricetag for the modernisation. Given the modernisation required I had put on an offer of £125K which in hindsight was low but was refused and the bid was not registered. I waited 1 wk before putting on a new bid of £135K. Again the offer was rejected and again the offer wasn't registered. I'm very frustrated. Has anyone any advice on a POA going forward. The seller is pricing the property as if it is fully refurbed. I feel I am putting in a respectable bid. They will not give me any idea where they are prepared to meet me at. Do I put my offer in writing and explain why I came to my decision? Does the email be forwarded to seller. Are they obliged to register my offer? I'm sure some of you guys have been in a similar position, I wonder how you navigated through it? Thanks in advance. Eoin
  5. Hi. I am just in the final stages of buying a 3 bed semi-detached with a vast single storey extension to the rear, opening up a large kitchen and through into a conservatory/sun room. The sellers cannot provide any certificates or anything relating to the approval of planning permission. However they do have a letter from the local council saying the work that has been done is in line with building regulations. Does this alone prove that planning permission was approved? We are buying the property with cash initially, however in 4-5 years we will be needing to take out a mortgage on the property and we are just concerned that down the line there may be a problem with getting a mortgage approved. The seller has provided pictures of the work being done, lintels being installed etc, and we don't really have any concerns at all with the quality of the work as it looks great and has been up just over 10 years already. It is purely the legal side of things that we don't want to come unstuck. Also the threat of the council or somebody turning around and saying we need to rip the extension out etc. Any help and advice would be much appreciated. Thanks. Marra
  6. Suppose a beneficial owner of a property - not the sole beneficiary, wants to use his share of the capital invested in the house to buy another property. If the sale is in the hands of an executor, then how can this be organised. The beneficiary cannot buy a house until the executor sells the other property. Renting seems a poor option because of the 6-12 month tenancy agreement. What would be the solution?
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