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Found 3 results

  1. Hello So my name is Jay Miles and I'm doing it. I'm doing the property thing. I'm a personal trainer working in London and living in Essex. But I'm getting older and although I love my job I dont want to have to do it in 10 years time. I want to give more, be there for my family and work for charities helping animals and all the great life fulfilling things that make life a joy. I'm quite honestly though.... bricking it (excuse the pun). I've no idea how I'm gunning to start this, despite having read, listened and strategised myself to death. Currently always looking for other "tasks" to do in order to learn more, other than actually getting off my frightened back side and actually attempting the nuts and bolts of purchasing an opportunity. Partially for financial reasons as I do need more capital, but mostly because reading another book gives me another hit of the old 'well-at-least-I've-done-something-property-related-today' dopamine release without having to take a chance. If you Googled paralysis by analysis I wouldn't be surprised if you saw a funny meme with my face on it. So I'm writing this firstly because I've read (not surprisingly) that it's a great idea to build a network of like minded people from a business and information sharing standpoint, but mostly just in the hope that I can discover that I'm not the only one who starts like this. Please feel free to write me a motivational comment, share a story to strengthen my resolve or connect in anyway with advice and support. I'd be super grateful. Thank you All the best. Jaay
  2. Hi all, So myself and 2 other friends (All aged 23) are looking to put our funds together to buy a 3 bedroom property (£180k-£210k) next year, that is in need of interior renovation/modernisation - A relatively easy flip in terms of work to the house. Once flipped, we ideally would like to rent this property out and use a letting agent, possibly with full property management, and split the profit . However, my questions are all mortgage related queries: - How easy is it to swap from a residential Mortgage onto a BTL? Bearing in mind 2 of us are in the RAF so receive several exceptions to common mortgage restrictions. - Is it better idea to split a mortgage 3 ways or have one of us put the mortgage in his name? - Any other advice around this strategy? Thanks S
  3. Hello, just want to know if anyone has done or thoroughly researched this? Long story short, I've got a couple of friends /Family that are wanting to learn more about what I do in property. Mainly because they want to earn some money, but I'm wary that a full 50/50 venture could be difficult. What I'm proposing is that I simply give them interest on a loan they give me that I use towards a deposit for a property purchase. The property would be solely in my name, I would just simply keep them informed of everything I do with the property for the first couple of years so it almost gives them a trial run before jumping in on their own, takes away their risk of repairs/voids (that risk falls to me, but I'm OK with that) and eliminates their need for a tax return (as the earnings will sit within their personal savings allowance) Am I missing anything on this? Seems a very good deal for them, and sits within my risk profile and cashflow requirements.
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