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Found 22 results

  1. Hi all I have a question which has really been bugging me as everyone seem's to talk about investing in different areas of the country because (quite rightly) they are hotspots and suit peoples strategies a lot better than where they live. I have just completed my first refurb and refinance and I am keeping it to rent out as the capital appreciation potential is high and it gives me a nice amount of cashflow along with a healthy sum to pull out in the refinance. I am now looking at other areas around the country (mainly the hotspots around Manchester and Liverpool due to great infrastructures, decent yields and capital growth potential.) I am wanting to know the potential risks of investing a long way from where I live, how you find a suitable agent to manage the property for you and any other things I should consider. There are properties within an hour of my own property which would give me a decent yield but no capital growth potential and the purchase prices are a lot higher than the places up North where I am looking. I am reluctant to just commit time to heading up there (as I live in Norwich) and viewing lots of properties over a weekend when I don't feel fully confident on what the risks are and what it is I should be doing as the areas are completely new to me I am quite happy to take a calculated risk but a punt on something just because all the figures look good isn't something I want to do Thank you in advance Euan
  2. Hi, Does any one have any recommendations for a solicitor to work on a ltd company buy-to-let purchase in Liverpool? Any help or advice would be much appreciated, this is my first one! Thanks, Kate
  3. Hello everyone, I'm Bob, and i'm from Leeds currently working as a Prosthetist (artificial limbs). I'm 33 and for the last 6 months I have been researching property investment as a way to one day reduce my hours at work or even leave work all together as well and building assets for the future. I'm gutted that it has taken me 33 years to learn about the concepts of storing wealth and investing, but i am now doing everything can to achieve my goals. After recently buying my first home with all my savings, i am having to start from scratch to build up a deposit for my first buy to let. I think it will take me between 1 and 2 years, so in the meantime I am trying to listen to every episode of The Property Podcast, watching Youtube videos and reading everything i can on the area. So far i've read 'Rich Dad Poor Dad', 'The Richest Man in Babylon' and 'How to Win Friends and Influence People'. I plan to read Rob's books next. I have done my Property Dreamline and my property goals are: 2 years - Buy first property. One that could be used as a standard Buy To Let or Serviced Accommodation. Aim to buy BMV or add value and then recycle the deposit. 5 years - Net income from property of £1500. 10 years - Net income of £5000. (I should say I have a partner who i will be investing with) I wanted to post this not only as a way to introduce myself, but so I can be accountable, and I also wondered what people thought of my plan? Is it reasonable? Thanks to all in advance and especially to Rob and Rob for a great, down to earth Podcast. Bob
  4. Hey All, If I was to buy a building that was comprised of three units (Flats), and intended to live in one of the three and rent the other two out, what mortgage type would I need? I cant find clear guidance or the technicalities. Thanks
  5. Trying to gather information on the Great Yarmouth rental market. I can easily find information about the average rental prices in different areas but I am wondering how long it typically takes to rent out properties there? Does anyone have any insight?
  6. Hey, fellow Hubbers! Looking at some property in Sheffield and came across a development called The Fitzgerald by developers called Romiga East Ltd. The numbers seem to stack up really well and as this is phase 2 of the apartments, I have direct comparables for both rent and purchase prices which is great. It would be off plan with completion around October 2019. The only question I have really is about the developers, I have not heard of them, I have of course done all the normal googling and cannot find anything bad about them. Just wondering if anyone has worked with them or purchased from them before? https://beta.companieshouse.gov.uk/company/08522483 https://thefitzgeraldsheffield.com/ Looking forward to what you think? Many thanks Alex
  7. Hello all, I'm looking for some advice, I'm 25 and I've currently got a portfolio of 3 properties. My strategy this year was to carry on buying, but after having a meeting with my accountant he said perhaps it's worth me slowing down to see what changes brexit could bring. Everyone seems to have slowed down and I personally think this is a great time to try and take advantage of a slower market. Anyway, below is my current portfolio, if you need any further info please drop me a message - Property 1 Purchased for £214,750 Outstanding mortgage £140,000 Current value £250-£260 Net PCM - £525 Property 2 Purchased for £92,500 Outstanding mortgage £75,500 (Have refinanced) Current value £100,00 Net PCM - £226 Property 3 Purchased for £92,500 Outstanding mortgage £69,375 Current value £100,000 Net PCM - £330 My plan was to remortgage property 1 and pull some equity out to buy a further 1 or 2 investment properties. I've worked really hard to build this portfolio and I don't want to ruin it all by putting a foot wrong somewhere. I could potentially pull 50k out of property 1 and add it to my savings, to have a total of £100k ready to put towards new investments. Do you think I'm over leveraged? Do you think my strategy has holes in it? I would love to hear other investors opinions. I'm not in a massively high paying job, I earn over £25k but under £40k. I still live with my parents (believe it or not!) so my outgoings are fairly minimal, giving me a good chance to save as much as I can. There are 4 main strategies I see as options - 1 - Buy 3/4 £60-£80k at 75% LTV properties up north, Manchester, Sheffield, Liverpool etc, this should cashflow around £1000-£1200 PCM. I would also expect to see some good capital growth here 2 - Buy 1 HMO property for £250-£300k at 75% LTV, this should also cashflow a similar amount 3 - Pull out a smaller amount of equity from property 1 and fix it on a 5 year deal. Add this money to my savings and put down a 35% deposit on a property, this should make about £675-£750 PCM. Purchase the new property on a 5 year fix and then aggressively pay the property down by £7500PA for 5 years to reduce my overall debt 4 - Fix Property 1 on a 5 year deal, sit tight and do nothing. This is the answer I fear the most, although I want to play things safe and not put a foot wrong, I also understand that to develop myself financially I need to take a certain amount of risk to increase my earnings. I'm currently on option 3, as it increases my cashflow and also mitigates risk as much as possible. Which one would you choose and why? I welcome any advice and opinions from other investors. Thanks for reading. James
  8. Hello all, I would be interested to see which route you would go down and why? Please see scenario below - By May of next year, I will (hopefully) be in the fortunate position of having about £100-£120k cash, I plan to use this to buy property. Now here comes the tricky part.... I've been fixated on using this money to buy one big HMO property costing around £300-£325k and producing roughly net £1000-£14000 PCM, however the more I think about it, the more I wonder - should I use the money to fund 4 vanilla buy to lets or even a refurb? Option 1 - Buy a large HMO for £300k-ish Net £1200 PCMish I'm aware HMO properties scare many landlords away, but my Father has a substantial HMO portfolio and has shown me how to manage them successfully should I need to do so. Option 2 - Buy 3-4 single lets, 85k-100k each If I chose this strategy it would give me a chance to save up an additional £20k over the time it takes to purchase them Net £1000 - £1200 PCMish I'm thinking this could be a more beneficial approach as it increases chances of capital growth Option 3 - BRR Method (Buy, Refurb, Refinance) Look for a rundown building and bring it back to life This method should allow me to grow my finances by a considerable amount, providing the project goes to plan. Being based down in the South East and having limited finances, this could prove tricky. Could look at doing BRR further afield though.. I'm looking to increase monthly cash flow as much and as quickly as possible, giving me more options in my professional life. I'm 24 at the moment so having problems like this, well lets face it, it could be worse.. Any feedback would be much appreciated, I would love to hear about what you would choose in this scenario! Kind regards, James
  9. Hi, Both myself and my friend are looking to make our first property/ BTL investment. What are the lending requirements that lenders look for when there are 2 buyers instead of one. And are there any additional things we need to be aware of? Thanks Keung
  10. Hi Everyone, I'd really appreciate it if anyone could give me some input on my current dilemma. I purchased a 2 bed apartment with parking in Manchester City Centre in June 2015. The property is now worth around 360-380k and there is 280k outstanding on the mortgage. I have recently purchased a house elsewhere which I am going to live in full time. My initial plan was to rent the city centre apartment out for between 1400-1600 per month as per estate agent values. However, after taking out the mortgage costs, the extremely expensive service charge of £400 per month, insurance etc, void periods, it will definitely operate at a loss. I believe the property market in Manchester still has a lot of growth in it, so it feels strange selling something which I've got for a good price. However, I don't feel I have any other choice but to sell it? As i would get some of the increased stamp duty back that I paid on the other house, and i wouldn't pay CGT on the sale of the apartment. Is my best bet to sell the apartment, then maybe use the equity to purchase a rental house in Manchester where there isn't a service charge to eat into profits? Obviously, I still would be getting a mortgage on the purchase of a rental house. Id be so grateful for any advice as I'm really uncertain what the correct course of action is. Thank you everyone, Sean
  11. Beginning of last year I have converted our integral garage into an ensuite bedroom, which many of our neighbors done the same in our area, I have asked a couple of them, they said we do not require planning permission as it is permitted development and 80% of the garage is attached inside the property. But what I didn’t realise then is I would need building regulation approval or check, which I didn’t know nor did my builder mentioned at the time. So I do not have the building control permission and am not sure if I should do retrospective BR, as it seems there is no guarantee it will be approved and the time and hassle it could take. I am now planning to re-mortgage this house and release some cash to fund other investment property. But what I am not sure, If the new lender will consider the converted garage room as an extra room or not, and can the indemnity insurance would resolve/cover this BR/planning permission issue? Any advice would be greatly appreciated. Many thanks in advance Kam
  12. Hi, I had looked to same amazing properties in Manchester that I would love to invest (this is my first investment in the U.K.) but I was thinking of living there for some time before I start renting. Problem is the company selling are just looking for investor and since I’m new in the U.K. property business I was wonder if you think it’s possibel to live in this kind of properties and if this investment companies are reliable ( the developments are not built yet and they ask 25%initial deposit and the rest after completion of the development) Let me know your thoughts Thank you
  13. Hi everyone, this is my first post and I have not yet got any properties etc, I am just planning to save some money up to someday start my career off as a landlord. I really want to save up £20,000 within the next two to three years (I've worked it out and can do it.) And then I would like to purchase a cheap but sturdy flat to rent out at £70,000. I've heard that there are mortgages where you're not required to live in the property, called 'buy to let' however in the UK, I can't find ANYTHING! Does anybody have any general advice for me or know a company of which I can get a buy-to-let mortgage to achieve my goals? I just feel it would enable me to obtain the flat faster and I know of someone who is currently doing buy-to-let and after paying the agreed monthly repayment sum, has some £ spare. However I have no contact for this person to ask them, they're not close with me, just a relatives friend. Thank you.
  14. Afternoon all, I am new to this site and wanted to introduce myself. I am a self employed "whole of market" mortgage broker. Specialise in residential and BTL mortgages. I have nearly 10 years experience in the finance sector and nearly 4 years experience in the Mortgage Industry.
  15. Hi guys, I am about to complete on my second Buy-To-Let property. However due to complications with my credit score I had to buy the property in cash with the plan to then later refinance, setting up a BTL mortgage, through my LTD Company which I opened a few months ago. As this is the first time I have bought a property in cash and will be the first BTL through my LTD Company (because the first was before the tax changes) I am looking for advice/re-asurance on how to complete the purchase correctly? At the moment the funds for the property purchase are split 50/50 between a personal bank account and my LTD company account. When the funds are required I was going to make two payments from each account to complete the deal. Is there a way in which I must purchase the property now to avoid costs later on when putting the property through my LTD Company? I.E. all the funds in my LTD company account with one transaction to show its owned by my LTD Company? Or am I ok to proceed as is? I am aware/concerned that switching properties you already own to your LTD Company at a later date could effectively mean buying the property off yourself at the new renovated price and incurring Stamp Duty, Fee's, Etc.... I want to make it clear from the start, if possible, that the property is already owned by my LTD Company. Any help would be great and hugely appreciated! Thanks
  16. Hi Hubsters, Recently stumbled upon Rob & Robs pod cast as I am keen to make my way in the world of property investment. I don't think I have an issue financing the odd buy to let or flip project but I am in need of sound, genuine advice as to where to start and what my first moves should be. Lets say, I have the funds in place to buy at my disposal... I want to find a property 20-30% under market value, so I look at auction sites /repossessions etc... what happens next? I see one in an area with all the right fundamentals. Do I pay for the property to be surveyed? get builders in to look and price all the work up and then go along to the auction with a maximum bid in mind to try and buy that property? What fees surround these transactions? Apologies if this sounds so so basic and uninteresting but I am struggling to get my head around the order in which these steps take place. I am aware it's always going to be a risk but want to ensure I do my due diligence to limit the number of risks I take. Also, As I am looking to venture into the world of flipping properties and buy to lets, does any one have an opinion as to how Brexit will affect house prices/market and if so, when? From a common sense viewpoint, S24 aside, B2L seems less risky as the renting market will never really drop and if you own the property you will keep it through the housing price drop? Where as if you purchase a house with the idea of flipping it in mind, and all of a sudden the market drops. which with Brexit round the corner is surly a possibility? Any feedback or conversation to issue some sound advice would be muchos appreciated, also if you guys know which number podcast any of my points may be relevant to, please let me know. Jon.
  17. Hello all, having read two of Rob Dix's books, I've decided to review my goals and work toward property. I currently have have one buy to let flat. Im looking to move in to more buy to let. 'I plan to save to reach 30% in each property for a deposit. 'I have limited skills other than hard graft. Hope to get in touch with others.
  18. Hello From Northern Ireland. My name is David and I'm keen to begin investing in property. I currently own my own house and have completed a renovation on it. I'm now keen to put those skills to use on an investment with a view to growing my portfolio to the point where I could quit the 9-5 job if I really want to. I've spent a year clearing debt and can now begin to save up for a deposit. Alternatively I'm interested in finding creative ways to finance my first investment without using my own money and hence speed up my introduction to the exciting world of property investing.
  19. Hello! Background to me My name is Conor. I am 24 years old and was born/raised and still currently live in Warrington in the North West England (a fairly sizeable town smack bang in the middle of Liverpool and Manchester). By day I am a Chartered Accountant - by night I am a gym/self-development/dog-loving individual. My interest in property / my 'why' I've always been interested in business. As accounting/number crunching/general business advice is my profession - such as explaining and helping people administer their income/expenses/profits as well as look at business decisions in depth to see whether these commercially make sense - the business of property is no different in this respect. My interest in property however has become more apparent over the last 6 months, when I qualified as a CA and had surplus cash with which to invest once my salary increased. I have never been a fan of pensions, given the necessary inputs to see a decent return come retirement age (of which you have little control over), plus the fact that once you're dead, your pension dies with you (grim, but true!). Property to me seems like a solid foundation into which I can invest my cash (wisely) without using 'get rich quick schemes' and can, over the longer term, become organically wealthy. This could one day lead to retiring early, with sufficient 'passive' income allowing for financial freedom (Lamborghini's and flashy LA mansions aren't really my thing). I tend not to throw myself in at the deep-end straight away without having researched thoroughly. I believe a little knowledge can often be more dangerous than no knowledge, as it's easy to run some numbers and get ahead of yourself. I do however believe my sense of realism mixed with a 'glass-half-full' attitude could do well in property. What areas you invest in (or want to invest in) I purchased my own new build home in Warrington in March 2016. I wasn't too well versed in the world of property at the time, and potentially could have haggled a bit further on the price, however I still feel happy with my purchase. From this experience I feel as though I went from newbie to somebody who kind of understands how the process works/the steps in place etc. I also learned that both solicitors and lenders can take considerably more time than you thought necessary! I am initially looking to invest in and around my hometown of Warrington, as well as Widnes and Runcorn (also commuter towns around 10-15 mins away from Warrington) as it is convenient and I also believe there to be some great growth potential, not only as a result of the 'Northern Powerhouse', but as a result of the continued investment I see in and around my local area. I would then look to branch out over the North West (due to similar reasons above), and potentially into the North East (due to higher yields/lower start-up capital needed). I cannot however see myself investing in London, certainly not for the shorter term. What your plans are for the future Initially I need to get started in the world of BTL and 'take the plunge'. In terms of research, I've pretty much caught up on the Property Podcast episodes, have read around 10 property books (including all of Rob D's, which were brilliant might I add), and am actively looking on forums/courses where I can. I've also recently starting browsing Rightmove, which feels as though I'm getting closer - there's only so much 'theory' I can learn before I start applying it to real world examples. Doing all of the above has ignited the passion even further... I have a modest savings balance built up, however have a wedding over the horizon in Aug '18 which will probably cost me around £10k (if I'm lucky!) so a BMV/refurb/refinance looks to be the way to go. Given my savings is a little short of where I'd like to be (around the £25k-£30k mark), it's been a kind-of waiting game for the past few months whilst I educate and build up the funds. I'm also conscious that I don't want to get to the 'magical' £25-£30k limit, dump it all into a property, and something unforeseen happen, which leaves me with the majority of the money in the property, and having to further gear up to pay for a wedding! I appreciate this is worst case scenario, however it's not a situation I'd like to find myself in. It's for this reason why I've started looking at a JV, with either former colleagues, and family members, yet nobody seems to have quite the appetite. I will get there one way or another though, may it be by my own individual savings, or with a JV partner who is on the same page as myself. Any skills or knowledge you've got that other members might benefit from I'm a fairly well skilled 'logical maths/numbers' person, which obviously helps in my profession. As part of the commercial side of my profession, I get involved in building 'models' whereby assumptions can be manipulated to see what the end result will give. I really enjoy looking at the numbers behind decisions, and seeing how variables can have an impact. I have, as a result, built my own spreadsheet/deal checker, which I believe is fairly comprehensive, and I have attached to this post (I'm all for adding value!). Effectively, all yellow boxes are to be typed over. All other cells should work automatically. I'm also fairly good at communicating with people and explaining complex topics in layman's terms. Lastly, I have a fairly good knowledge of local geography, and after educating myself extensively over the past 6 months, I feel fairly well educated on the theoretical side of property investment. I suppose the final step is to take the plunge, as nothing beats experience! Thanks for reading. Conor PROPERTY FILE - MODEL.xlsx
  20. Hi Everyone, I am looking to invest in northern cities such as Liverpool, Leeds, Manchester and Newcastle. Although I understand that most people work in yields (and I do to for the most part), I am looking to buy a property which makes circa £500 profit after expenses per month. I would love some help from those already knowledgeable in the North to reach that goal. I already invest in the South and have a few properties in London and in Bath. I am a chartered surveyor by trade and specialise in both residential and commercial lease advisory. I am also always approached by other investors wanting to sell their property, so if you are looking for anything in London then please let me know. I also run a maintenance and building company with my business partner who operates inside the M25 - so any building, renovation, handyman services ect please get in contact as I can help out with that! Natasha
  21. Hello I currently rent through an agency, but I feel like I'm paying them to forward me emails... What is the process of leaving an estate agent if the property is tenanted? Also, any benefits of using an estate agent? Thanks