Jump to content

Search the Community

Showing results for tags 'leamington spa'.

  • Search By Tags

    Type tags separated by commas.
  • Search By Author

Content Type


  • Property Hub
    • Housekeeping
    • Property in the news
    • Introduce yourself
    • General property discussion
    • I need advice!
    • Progress journals
    • Property Podcast discussion
    • Property Hub University
    • Chit-Chat
  • The Property Hub Summit


There are no results to display.

Find results in...

Find results that contain...

Date Created

  • Start


Last Updated

  • Start


Filter by number of...


  • Start



Website URL



Areas I invest in

About me

Property investment interests

My skills

My goals

Interests outside property

Found 3 results

  1. HI, I would greatly appreciate some advice on this property that I have made an offer on and got accepted. It is within the Royal Leamington Spa area and not too far from amenities (15 mins from station, 15 mins to main town centre, near attractive parks etc.). It's not the greatest yield but this is takes into consideration some growth factor and aimed at professional tenants. The option for students based in Warwick and Coventry, and the hospital is there as well. Interestingly the property was priced at 250, but reduced to 220 within the same month for a quick sell. We had a look and the condition is very good, not expensive work required really and I believe it is priced well. The kitchen and bathroom could do with some small cosmetic touch ups, some carpet replacements etc. to help attract tenants. My research shows rent has declined by 5% since 2-17. I've been told via a few local agents I can expect from 825 to 900 pcm. I am being conservative and using 800 pcm in my calculations: Property price £220,000.00 BTL mortgage LTV 75% Interest rates 2.5% Investment term (years) 25 Monthly rental income £800.00 Buying solicitor costs £1,500.00 Mortgage arrangement fee £1,644.00 Annual maintenance £800.00 Annual service fee 0.00 Initial work required £8,000.00 Management 10% Total Capital Required £72,744.00 Mortgage Required £165,000.00 Gross Rental yield 4.36% Net rental income /yr £2,734.98 £227.92 ROCE / yr 3.76% Rent/mort payments 2.327272727 Expenses / term £161,625.49 Rental income /term £230,000.00 Annualized pre-tax 5.18% Annualized post-tax (individual) 3.51% Annualized post-tax (ltd) 4.47% Purchase stamp duty 6,600.00 mortgage deposit 55,000.00 total cost (inc all fees) 72,744.00 Rental Income Ideal income /yr 9,600.00 800.00 Vacant deduction 400.00 2 weeks Actual rental income/yr 9,200.00 Expenses I expect: BTL mortgage interest/yr 4,125.00 343.75 maintenance /yr 800.00 gas certificates /yr 80.00 landlord insurance /yr 170.00 elec certificate /yr 80.00 management fee /yr 960.00 finders fees /yr 250.00 total expenses / yr 6,465.02 The problem I have is if I stress test this at 5% mortgage, then the whole thing becomes a liability unless I compromise and manage the property myself (only 40 mins away). Also, being a terraced there could be expensive repairs I am a contractor so hoping to use a ltd company mortgage.. At the same time the city is attractive to professionals, students and growth potential (appreciate that is speculative). So what do you think? Is there not enough room for error and I am scraping the barrel here?
  2. Hello, Thank you for reading myself and wife's joint BTL journey. The vast knowledge and resource that is available here is amazing. I purchased "The complete Guide To Property Investment" by Rob Dix. Which has led me here! Unfortunately I discovered this information in September 2020, few years after starting our BTL adventure. Our Journey started in 2018 where we purchased our first BTL in Coventry. Why Coventry? Well, Coventry is home is Cov university which is known for there engineering education and also home to Jaguar Land Rover engineering centres. Coventry is also experiencing growth with lots of new buildings and projects. Buying our first BTL, we was scared and excited. However with due diligence, research and speaking to the right people, we proceeded with the purchase with confidence. Because I am a bit of a nerd when it comes to Excel and spread sheets. I knew all my expenses, potential rental income, net yield & ROI before we continued with the purchase I identified. Almost 2 years on and we have achieved a ROI of 10.07% Over one year later after buying our first BTL, Jan 2020, Myself and my wife was in a position to purchase our 2nd BTL investment. This BTL has also been a success achieving a ROI of 12.21% Here we are in August 2020 in the process of acquiring our 3rd BTL investment. We have decided to purchase this property under our LTD company with the plans to buy a fourth BTL later on this year for tax benefit purposes. Unlike the first two investments which are under our personal names. The long term goal is to retire slightly earlier and have a wealthy income to support us, and eventually pass the properties down to our children. We want to expand our portfolio to other areas of the country and would be keen to hear what area's people are looking at. And how they manage properties so far away you? Thanks for reading, Regards, Craig.
  3. Hello, We are currently looking to buy an investment property in our local area of Leamington Spa where capital growth has been robust in the long term and our residential property has seen capital growth of upwards of 20% over the last 2 years. My feeling is that we are currently experiencing a small boom in the local area as there has an influx of both renters and home buyers due to expansion by local employers and the area is generally very popular in residential terms. The performance of our own property puts me off the area as I fell prices are inflated at the moment and property’s move very fast, but the long term capital growth potential is attractive and are other obvious beneficial features of investing locally. In investment terms I think we are looking at a 2 bed flat for around £150,000 renting from £700 - £850pcm and services charges and ground rent would be up to £1100 pa I have based my maths on: PURCHASE PRICE: £150,000 DEPOSIT @25%: £37,500 PURCAHSE COSTS: £3000 TOTAL INVESTMENT: =£39,500 ANNUAL RENT: £9600pa GROSS YIELD: 6.4% MORTGUAGE: 5% REPAIRS: 10% SERVICE CHARGE: £1100 INSURANCE: £300 ANNUAL PROFIT: £1615.00 NET YIELD: 1.1% ROI: 4.0% DEAL ROBUST UNTIL 6.5% Mortgage Rate I guess what I am after is a reality check from some of the more experienced investors on property tribes, would you consider a deal like this in an area with great fundamentals or should we begin to focus our attention elsewhere. Any feedback would be greatly appreciated.
  • Create New...