Search the Community
Showing results for tags 'longterm'.
Found 4 results
Aspiring Landlord From Leamington Spa
kilbyhousing posted a topic in Introduce yourselfHello, 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.
20 year old first time investor advice
Will Dodds posted a topic in Introduce yourselfMorning all Just wanted to ask for some advice off anyone who is a few steps in front of me or is where I want to be. I am a 20 year old electrician and have been studying about property investment/ development for about a year or two simply just reading books, articles, forums you tube videos etc... My best pal and I (who is also and electrician) have decided to partner up on our property investment journey as we both have very similar if not the same goals relating to where we want to be and also feel that we would work very well with each other. We both live in Caterham surrey and between us both have managed to save up around £25,000 and also can get loans if needed. We have been viewing properties in areas such as Crawley/ East Grinstead about a 20 minute drive from our homes. Our strategy is for the first three properties we buy we will sell two and hold one for rent in the hope that we would have made enough capital to afford a BTL investment. Our goals aren't for short term cashflow it is for long term wealth as we both know you cant get rich quick. We have agreed that we will live off our current wages and any money made from the property business will be reinvested back into it in the hope that over a 10/15 year period we would have large property portfolio and leave our jobs as sparkies and become full time property developers as it has always been our dream. I know I have only touched on our goals/ game plan briefly in this paragraph but have one written up going into the depth about where we will be in the future if anyone is interested. Hope you all have a good day and look forward to reading any replies as I think we would both benefit massively from it. Kind regards Will.
Strategy Advice for BTL + SPV rookie
joncorrigan posted a topic in General property discussionHi All, I've been using 14days in an isolation hotel to research, educate and prioritise my investment strategy, to ensure a secure and free future. This forum has been trailed, books read and umpteen brilliant Podcasts listened to, so thanks firstly to Rob + Rob for their inspirational effort and to everyone else involved on this forum! Background: I'm a single 34yr old expat, but although I live abroad it's not essential to my job, so I now intend to move back to the UK at the end of this tax year. Seemingly a hard decision to ponder, but when taking advice and simply writing a page of pro's and con's... Blighty was the clear winner at a score of 8/2. I work on a month on / off basis when the going is good, I'm a sparky by trade, useful and experienced in a site environment, plus my brother is a builder. I currently have no property to my name and will have 200k - 230k in cash savings by the time I get back to good old GB. My salary is meant to be just north of 120k but is currently chopped due to the obvious. Now... onto the strategy (in brief form) Short Term Goals (2.5yrs) Move back to the UK and purchase a modest private residence with the aim to refurbish, create equity + keep until I feel the need to upgrade Purchase x5 BTL properties (each 60-80k) using an SPV by means of directors loan(s) and BRR strategy Continue working away + reinvest all SPV profits Mid Term Goals (5yrs) Have purchased x10 BTL's using compounding rents / BRR / directors loan model Upgrade private residence, be building good equity and overpay mortgage if possible (life may get in the way here) Continue to enjoy my away job + reinvest all SPV profits Long Term Goals (10+yrs) Company owns 20+ BTL's with a mixed spread of high yield / capital growth focus Primary residence has low mortgage repayments / high equity Option to scale back my day job from being staff to contractor and pick my jobs as and when At this stage I hope to be able to re-evaluate my portfolio and either press on investing or take some equity through sales, pay off chunks of finance to move closer towards a monthly passive income of 5k. I will adjust along the way and the numbers are not set in stone... ie If some of the portfolio has gained some capital growth and the money may be better elsewhere, then I intend to be as fluid as I need to be, because at 45 - 50yrs old, yield will be priority. I have the rest of this year to fine tune this plan but that's the general strategy right now. I would really appreciate some general feedback, thoughts, experiences, criticism and anything you this is good for me to hear. Thanks for reading and good luck. Jon
Hi Hubbers, I'm Matt and taking first proper steps on the property 'journey'. I wanted to make a move back in 2013 but learning from the Rob's and Pete Matthew, I took a step back to build my finances and a safe base. That's now done and realigning my efforts. Based in Stourbridge West Midlands, I'm planning to create a BTL company, forcing appreciation through refurbs then refinancing. The goal is to create enough passive income to quit my job. Stretch target is 45, but at least by 50. I'm a professionally qualified Civil Engineer with construction, site management and design experience. I've recently joined a large private developer in the regional technical department to build my own knowledge and to transfer my existing skills into this sector. Looking forward to being involved.