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I've just joined the forum as my business partner and I start our property investment journey together. Living in Leeds and looking to source properties for rent to rent, specialising in all year round serviced accommodation for young professionals and NHS workers. Any advice would be very welcome and greatly appreciated. Thanks all LR
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Hi Would be grateful if anyone could recommend some good quality specialists for refurb work to be carried out. After the names of builders, roofers, plumbers, electricians and general handymen/women. Thanks in advance. -
Hi, i'm a first time BTL investor. I would really appreciate views on whether this is a good investment. 1 bed flat £150k in Saxton Lane, Leeds LS9. It's off plan development to be completed Q3 2022. Rental yield 6.5%. I'm interested to know if Leeds as a whole is worth while and particularly this area of LS9 which is a 17 min walk to the station. Plan is to keep the property for 5 to 10 years. I've heard growth in Leeds is expected to be 3.2% p.a is this correct?
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Hello fellow investors, I am new to BTL (but have done 6 months of very solid research and am ready to invest!). I am interested mainly in Capital Growth (with positive cashflow of course...). Interested in simple BTL as I do not have time for HMO or short lets. I am planning on investing (via Ltd) in Sheffield and/or Leeds area but am based in London. I am also personally buying property in Poland (for yield and also for tax reasons) Currently I work in London and my work brings me to Sheffield quite often and I know that city. In the future I want to build Capital Growth focused simple BTL portfolio of between 5 and 10 houses in the UK and 2-3 properties in Poland (I have a dual citizenship and know both markets well) I am strong with analysis, numbers, money raising and research. Happy to speak to anyone who is also looking at Sheffield / Leeds investment to exchange ideas or even work together. kind regards, Michal H.
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Hello I'm James, If you are like me you'll have binged The Property Hub, bought yourself as many books to read on the subject, and spent hours researching investment strategies and properties because you live life wildly and that's how you get your kicks. I'm 26 and new to property investment, it'd be great to chat to anyone in a similar place, and build a network of like minded people. I may be able to offer some guidance on where to look for good research on local economic fundamentals. About me, I studied economics at university, and have worked in economic development roles at a Local Authority and County level, before becoming a Business and Economics secondary teacher. I dabble in stocks as a hobby only. My personal goal is to develop a property investment portfolio that generates enough income to give myself and my partner the choice of when and for how long we want to work. As of today I'm looking to buy my first BTL property, I have £40,000 and am looking for a mortgage broker, let me know if you've used one that you would recommend. I'm choosing between Manchester or Leeds, but if the podcast has taught me anything it's to not get too hung up on where to invest. I'll be targetting 1 to 2 bed properties circa the £100,000-£115,000 value to begin with. These will be let out with young professionals in mind. Here's to 2021 and aiming high. 2020 can get in the bin already.
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Hi all, Listened to the podcasts/ Rob D's audio books for over a year to prepare for investing. What triggered this was being faced with the decision to keep or sell a property that was my main home, once I bought a new place with my partner. With reading all about Section 24... I decided to sell, set up a limited company and get started! It started as educating myself to make sure I was making the right decision, but has developed in to something much more... where I have a 10 year plan to build enough passive income to replace my current income. I am currently refurbishing my own residential property with the support and guidance of more experienced family members (trying to learn as much as possible) and conveyancing on the sale of my old house. Investment wise I plan to work mostly near home in Leeds/Surrounding areas and primarily buy... refurbish... let... refinance, but also do some flipping to raise more capital. As far as skills/knowledge goes, I guess I am going to be learning more than I am helping at the start... but you've got to start somewhere I guess! Thanks for reading, Richard -
Hi, Nice to meet you all. It's my first post on this forum. I planning to do my buy to let in the north. I was thinking that Leeds might be a great location to start (house prices are still decent compared to larger cities such Manchester) and it feels that the city is growing and attracting more businesses. I have seen this place on right move (https://www.rightmove.co.uk/properties/73474821#/). The price looks incredibly low and the yield pretty interesting (11.5%) - to be double checked though. I was just curious to have your opinion on the below questions: 1) Is it usual to achieve ~10% yield in one bed flats in Leeds or is there something I should be sceptical about? 2) Do you believe that the city is in an upward trend and that we could expect to see a decent demand in the rental market over the coming years? Many thanks for your help!! JB
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Hi, I am a BTL investor looking to purchase some 2/3 bed houses in Leeds. I'm currently living down in London and am well aware with the important of knowing the particular area of where i am purchasing. To this end, im looking for a local managing agent to work with who is knowledgeable and reasonable, does anyone have any experiences or recommendations? Thanks
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Hi I'm Chris and living in France, As an ex-pat, my old home in Cardiff has been let for about 20 years to students. However the local council recently changed the rules reclasiified by 3 bedroomed terrace house as an HMO and made it hard for ex-pats to get certified for HMO's and so I have been renting to an income support family for the past 2-3 years. My nephew has just started studying at Leeds University, so I've decided to sell in Cardiff and buy in Leeds. The council there seems friendlier with regard to the HMO licensing situation. Would appreciate any advice on students lets in Leeds, and setting up a let remotely from abroad. Thanks Chris
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Hiya, I am London based and started a while ago to focus on Leeds as my investment area. I have bought my first BTL in York about a yar ago and now looking to do student HMO's in Leeds around Headingley. It is article 4 yes, and while one does pay a bit of a premium for that you also get piece of mind of not having to worry about future competition (new HMOs pop up left right and centre these days) and a very low amount voids. So I don’t think it’s all bad. Also from deals i am finding, the number still stack up quite well (i.e. 15% ROI in a ltd with full mgmt.) Anyway, I started talking to a few investors focussing on that particular strategy and just posting this to connect to some more people that i could exchange knowledge and experiences with. But also interested to hear what you have to say about investing in an Article 4 area. I am very open to have a chat over phone or coffee, am just really keen to learn more and also share my knowledge. Feel free to contact me here or via e-mail: l.m.steinbrecher@gmail.com Thanks, Lars -
Hi, just joined the forum! Been listening to the podcast for a year or so! Accidental landlord of one flat In Essex. Just got £30k of cash out of the existing property and considering low maintenance flat in Liverpool (or Sheffield or Leeds). Heading up north later this week to have first look at areas in city centre armed with Rightmove and Zoopla. Would be good to chat to some agents I guess but I am on step 1 of this so nowhere near ready to commit. Obvs loads of agents in liverpool, haven’t a clue if they are good bad or indifferent. Any advice/ recommendations welcome... looking at circa £100k city centre to buy and rent out (and indeed same for Sheffield. I’m from Leeds so know it a little better). Think liverpool hits the spot financially for growth and income, Sheffield less so Leeds might be 10/20% too expensive to get decent modern flat. Looking forward to chatting. Matt
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Hi Property Hub members Having recently joined Property Hub I wanted to take this opportunity to introduce myself. I live and work in London and have had a keen interest in property and property investments for several years now. So far much of my attention was on purchasing and refurbishing my own home in London. Now that this is done, I would like to take the next step and invest some of my savings and recurring job income into BTL property. In terms of strategy, I am looking for BTL investments with a yield above 5%. That rules out most of Southern England. So I am planning to invest into BTL properties in some of the larger cities in the North. For me the 2 main constraining factors are limited local knowledge and time: While I know the London property market well, that isn't the case for Liverpool, Manchester, Leeds, Sheffield, Sunderland and other places in Northern England. To bridge that gap I am planning work with local people and to establish good working relationships which are win-win for both sides. Time is my other constraint. I am working in a demanding office job in London which keeps me very busy Monday to Friday. That leaves me with around an hour each weekday to spend on property management and investments. On a typical weekend I can spend around 8 hours on it. Hence I am looking for property investments which are largely hands-off and don't require a lot of attention during regular working hours. I could travel to Northern England from time to time, especially for important things such as meeting local business partners to work with and for final viewings. But my plan is to limit the number of trips to 5-10 per year. Here's how I intend to gradually progress on this: First, I am looking to learn more by reading many of the very good postings here on the forum. I will also have a number of specific questions that I hope people in this forum will know the answers to. Then, the next step is to complete my first property investment. For this, I am looking for a project with low complexity and low execution risk to start with. I am happy to accept a lower yield for my first project if this helps to reducing complexity and risk. For example, this could be a room in a purpose-built student block or a single let which doesn't require any meaningful renovation work. In this process I am hoping to learn more and to establish contacts with business partners in the North. Finally, with the acquired knowledge, experience and established business contacts I would like take on more complex projects with the potential of higher yields (or capital appreciation) such as larger renovations or multi lets. Via this forum I hope to exchange thoughts with you and to meet potential business partners in Northern England, for example good and reliable property viewers, property sourcers, property management companies and renovation project managers, to build successful long term business relationships with them. Please don't hesitate to send me a PM if you are working in any of these areas, I'd be interested in hearing from you. Looking forward to discussing with you in this forum. Michael- 6 replies
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Hello! I've never used a property sourcing company i was wondering if someone could give me some info on how to find them, work with them and figure out what the usual fees involved are ? I am interested in sourcing property in Leeds and potentially Liverpool and Glasgow. Any help is much appreciated. Thanks! -
Hi I am looking to add to our portfolio. I am particularly interested in a new or fairly new build apartment as close to the city centre as £160-£170k will buy me. I know the area reasonably well. If anybody has any knowledge of anything coming up or even on the market now I would be really grateful. Regards, Andy
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Hi All, I'm looking to start my BTL portfolio and am taking a trip up to Leeds this weekend to look at potentially buying a place there. Currently I'm looking for yield and so have decided that a student/ young professional HMO may be a good option for me. I used to go to uni there so I know the Leeds university areas well (i.e. Woodhouse, Hyde Park etc.) but I don't know much about the other areas. I'm looking to find out: - Which areas are recommended? - Would you avoid houses that don't currently have a HMO license? If it doesn't currently have one is it not likely to get one? (within Article 4 area) - Do you know of any good HMO mortgage brokers? Any advice would be much appreciated! Thanks, Olena
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Afternoon All! Hi, I'm Ben 18 years old and looking to purchase my first single let BTL in the coming months. I've always had an interest and followed house prices in my home city of Wakefield as my father used to be a landlord in London years ago and had always thought of doing so up North. As a result, there were always property brochures around the house when I was growing up despite my father deciding not to invest in the end. We live just south of Wakefield and are looking to invest in the North and North east of this city as we know it well. There is lots of rental demand here as many professionals commute to both Leeds, Sheffield and Manchester and the area is close to both the M1 and M62. There's also good train links with the East Coast Mainline running through Wakefield too. There are many shops and amenities near by also. If anyone has particular knowledge of the area: Outwood, Wrenthorpe, Alverthorpe and Osset are the main areas I am considering at the moment. The idea is to purchase a property in need of updating as a 50/50 JV with my father, complete the refurbishment and then remortgage 6-months post completion to realise the property's new value with which I can buy out my father. My next steps are finding a mortgage broker to advise on the intricacies of the lending and form a Power Team of local tradespeople, a few of which I know already. I'll also try and make my way to the Leeds meet up in February also! Many thanks if you've taken the time to read this, and if there's any way you think you may be able to advise please let me know! Cheers Ben
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Hi there, I am purchasing two flats in Leeds and need a recommended company to do the surveys. Any recos? Thanks a lot Nick
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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
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Hi Everyone, I have made the decision to travel up to Leeds next weekend to carry out some viewings on property up to about £110,000. Only have 1 day and i want to make the most of the trip to get a feel and understanding of what and where is good new for a B2L and i don't want to waste any time doing it. can anyone advise me on some particular B2L hotspots in Leeds that i should make sure i go and see? I am split between going for a 1 or 2 bed apartment or a 2 bed terraced house that needs some TLC. any advise would be really welcome.
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Hi All, Sorry for the long post. I'm totally new to this and was hoping to gain advice from you all, so any wisdom imparted would be sincerely appreciated. I'm interested in beginning my property investment journey after gaining much confidence from the contents on this wonderful site. I'm from Birmingham but live and work in London. Initially, I was looking for a high yielding B2L property in somewhere like Sheffield or Nottingham, to potentially net between £500 - £1,000 per month cashflow to generate some passive income. As a newbie, I want a hands off approach, interested in modern properties that are immediately ready to rent out; but have recently learned my cousin works on upgrading properties so thats a bonus for some flexibility in regards to potential house flipping. My strategy has now potentially changed as my Mom (currently living in a 3 bed council house in Bham) needs to be rehoused, due to her current area and neighbours being far from the best to say the very least! So in saying this, I now intend to purchase a mortgage for a place for her to stay in Bham (2-3 bed house or 2 bed apartment in city centre) that will see good capital growth in the long run as the plan is for her to live there for the next 10, 20, 30 years plus. So this would be a long term investment. I have around 30K to invest at the moment, and ideally would like for the monthly repayments to be low because she'll be living there alone (would H2B be pertinent here?). I don't intent to make profit off Mom or for her to have to share, but at the same time, I don't want to have to go into my own pocket to top up what she cannot afford as I am already renting in London. I did a mortgage in principle with my bank the other day and they said I could borrow in the region of 280K. My credit is pants at the moment so I'm using the next 9-12 months to increase my chances of getting a 5% mortgage next year although I would really want to buy something in 2019. So I suppose my questions are: Is what I'm pondering ambitious or outside the realm of success with the 30K capital and poor credit rating I have? Outside of transport links, being close to city centre, good schools, shops/supermarkets/parks/having a drive and garden etc, what other key criteria do successful property investors look for, that bring confidence that capital growth is very likely to come down the line? After looking at Rightmove and speaking to local estate agents and viewing properties that fit your criteria for example - what are the differentiators or main drivers that prompt an investor to push the green button and buy? Should I maintain my original plan, and find a 1-2 bed B2L property in a high yielding/high growth area like, Leeds, Liverpool, Nottingham, Manchester, Sheffield and essentially keep saving while banking the £500 - £1,000 per month cashflow - because in a couple of years I'd soon generate another 30K to get her the property in Brum - and in that time I would have gained some equity/growth in the B2L property. I do plan to build a property portfolio so when you have a strategy for acquiring multiple properties; for tax reasons, is it better to purchase them under a limited company rather than as an individual? When people say, test your numbers thoroughly, what exactly does this mean? How can you test that your strategy for a B2L monthly cashflow goal is truly feasible? Would the H2B scheme benefit me in for my circumstances? Many thanks -
Hi All, I am looking to purchase a 4 bed HMO / Student Property in Sheffield or Leeds. I would like to purchase within the next two months, however I am worried that the 2nd – 4th year students would have already found their property for the academic year. Would you suggest purchasing and then renting out to young professionals (sourcing on spareroom etc.) on a short term let basis until June / July 2020 and then move the students in. Thanks, -
I’m looking to buy a BTL property in Leeds but I don’t know the city very well, does anyone have any recommendations of good areas and areas to avoid? I’m looking for a nice 2/3 bed house that can attract young professionals. Thanks in advance for any advice.
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Hi all – first post in and hoping I can use this platform to tap into some great minds. I have been listening to Rob(s) podcast for a while now and have been doing a lot to try and educate myself on the ins and outs of property investing for beginners. I feel like I have a learnt so much over the past year, but I have the biggest frustration of not being in a financial position ready to start my venture. I have recently purchased a house (joint mortgage with my partner) so have limited equity available to release from that. I earn a decent enough salary that I am able to put away around £8-£10k / year. That does however still leave me a few (3 minimum I would have thought) years away from having enough capital to get started. I live in West Yorkshire so I know the Leeds market inside out, I am looking to get a foothold in this rising market – most likely a renovation that I would then look to create a positive cash flow through renting out. In order to get me there quicker, I would be interested in gathering peoples thoughts on this approach? Is there something else I may be better looking at, perhaps that would require a lower amount of capital to get started with? Or looking at the problem from the other direction, a lender that is prepared to lend above the usual 75%? Any and all thoughts would be greatly appreciated. Andrew.
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Hi all, New to the forum and trawling through all the great content. Myself and my wife are looking for buy to let properties (mainly in the areas recommended by Rob and Rob on the podcast). Leeds stands out a bit for me, I've spent a couple of nights in Leeds and like the city centre a lot so am quite keen on the area for a buy to let. We're mainly looking for new or nearly new apartments that will require (hopefully) minimal effort in terms of management. I've noticed the LS9 postcode is relatively cheap and it seems there is a lot of regeneration going on neary by with the South bank regeneration and Climate Innovation district. Biggest concern with the area is maybe it's a little too far out (approx 25 min walk to the station according to Google Maps) and possibly a bit sparse of nearby amenties until the above regeneration projects are further down the line - who knows how long that could take?? I've seen other posts mentioning that captial growth could be slow but the yield could be high in this area but we are probably more concerned with captial growth at this stage. I'm wary that the area may be a bit run down so any advice on the LS9/Cross Green area in general would be appreciated. We plan to take a trip up shortly but with limited time available would like to focus on properties in the right areas. Any advice much appreciated! Cheers Sam -
Hi, I am a new investor doing my background work for my first BRR and am looking for some advise on areas to consider and/or introductions to trustworthy property sources in the area. kind regards
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