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  1. I hope someone can help me with some advice. I've had an offer accepted on a house, on the Mersey Bank estate in Chorlton. It's around the Caldervale Road side. I like the house it meets my needs, neighbouring houses look like they have been taken care of. I love that I can walk down to the river in a couple of minutes. But the more I walk about the rest of the area the more I feel it's pretty rough. I don't know if it's just deprivation but ok or if it is actually rough. I know historically it's had its issues but can't tell where things have been better. My mortgage offer is based on five year fixed so I would have to wait it out if I didn't like it - not sure whether to pull out of the sale or not - baring in mind I'm currently in a difficult living situation and this is the first house I have managed to get an offer accepted on after 11 months of hunting. And I'm dangerously close to my forties and I'm first time buyer so running the risk of not being able to borrow beyond retirement age. I've spent ages looking around Stretford, Firswood, Withington sparingly so with Chorlton and Didsbury and now that I'm close to sealing a deal my experience walking around the area doesn't feel as great. Any advice to help me decide would be much appreciated!
  2. Dear all, I bought a 2 bed new build, conversion in 2016 and the build has not finished. The developer is Stephen Beech (Beech Design and Build/Beech Holdings) and the development is One Cross Street in Salford just outside Manchester city centre. The developer clearly ran into financial difficulties, one issue was that he had to rebuild the timber frame of the building, something they hadn't anticipated and took up a lot of cash. One of the contractors went bust during the build and 3 years later we still have no end in sight, the developer is completely refusing to honour the contract, under which I would have been receiving significant income on my deposit and guaranteed rent, totalling about £20K to date. The developer has been promising to issue a new contract with different terms because he doesn't like the old terms. There seems to be no legal basis for this and my solicitor (Allchurch property) and the agent through which I bought the property (Surrenden Invest) are keeping too quiet about it and not being very useful. I've been advised that litigation is best avoided and could be a nightmare, but how long do I wait without hearing anything before taking legal action? The last thing I heard was before Christmas when I was told we should expect a new contract imminently, now over two months and it's gone quiet again. I'm amazed that when I search through this database no-one else has been on here to discuss One Cross Street, Beech Holdings, Stephen Beech or Surrenden Invest. Please contact me if you invested in this! Any legal advice or support or questions much appreciated. Best wishes, Michael
  3. Hi! I'm a new investor. I've finally managed to get a deposit together and looking at buying something around the £150k mark. Our goals are as a long term investment so capital growth is at least as important as rental income. We live in the South East so if we stay local our only option at that price would be a small flat or apartment or maisonette. Most advice I've gotten suggests investing somewhere within a 45min drive so that leaves us a few options- Chelmsford, Witham or maybe Colchester. The problem I have is that my eye keeps getting drawn up north, specifically to Manchester as I have a good friend there who has offered to view some properties on my behalf. The yields and potential for growth seem pretty exciting around Manchester but I've never set foot there so I'm not sure it's for me. It also appears that there are a lot of properties for rent up there at the moment so I'm worried finding a Tennant quickly might be an issue. As such I'm basically dividing my research time in 2 between two different areas. Should I just pick one and go for it? Any tips or advice gratefully received! Thanks Hermann
  4. 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.
  5. Hi, I'm currently in the process of setting up up my rent2rent business, specifically HMO management. I have recently come across a few deals in manchester. All are 6 bedroom 3 story properties. After doing the dudilligance, I calculated that they all generate a cash flow of atleast £3000 and a profit of no less than £600. Unfortunately I do not have significant funds to pay for the set up costs. As a result am looking for a joint venture partner. Please get in touch if you are interested
  6. Hi All, My name is Bradley I'm 22 years old from Manchester and I've been a keen fan of PH for a good year and a half now, I first came across PH when I purchased 2 of there books on amazon whilst talking to myself on a train home from London about my vision with property and where I would like to go with it. PH podcasts were my favourite whilst travelling with work and I feel like I benefited a lot from this, I'm a joiner by trade going on to do construction site management and I have worked away from home ever since I started as an apprentice running commercial fit out projects, Ive always had a vision and goal of having a property portfolio as I find construction and property developments very interesting. As soon as I started working I decided to start saving for my first house and proudly bought my first house in Manchester at 21 and completely refurbed it. Just before the pandemic I decided to leave the company I worked for and set up on my own offering joinery services and house refurbs (essentially back on the tools) to free up my time working away for weeks on end to pursue my dream in property. Thats where I'm up to now, I love learning from experienced people and feel PH forums and networking will help me with this, also maybe boost some work on a personal level in and around Manchester. I'm currently setting goals to get that next property and go on from there Thanks, nice to meet you all!!!!
  7. Hi Guys I’m Neil originally from Middleton, North Manchester and now live in Wilmslow. I’m looking to set up a ltd company with a friend shortly and looking to invest in flipping houses before working towards a buy to let portfolio. I’m looking for any recommendations for networking groups/events in the Greater Manchester area in order to build relationships with tradesmen, investors and lenders alike. if anyone has any suggestions or can point me in the right direction it would be much appreciated. Many Thanks
  8. Hi everyone, hope you're all well. Seeing as though the lockdown has started to ease and more viewings, surveys are starting to pick up pace I thought I'd post a few links to the former mill conversion properties that will be coming onto the market over the coming years. These apartments will help change the face of Stockport as a place to live and work, there has already been massive investment in the last couple of years with new infrastructure, leisure and living space and with lots more planned this is great place to look at for your long term investment plans https://www.google.com/amp/s/www.manchestereveningnews.co.uk/news/property/meadow-mill-development-for-sale-13779064.amp https://www.google.co.uk/amp/s/www.manchestereveningnews.co.uk/news/greater-manchester-news/historic-stockport-mill-undergo-60m-18281312.amp https://www.placenorthwest.co.uk/news/investar-reveals-65m-central-stockport-development/ I live and invest in Stockport & Tameside, if anyone needs any help in these areas I'm always happy to chat Thanks lee Lee@polarisproperty.uk www.polarisproperty.uk
  9. Hi Anyone who purchased properties in Deansgate Square South Tower, Manchester, who wishes to join the newly formed Residents Association please contact us. We are having a Zoom meeting soon, important topics to be discussed, and it would be great to have you on board. We are committed to maintaining high standards for Deansgate, as well as keeping an eye on service charges Email southtowerresidents@gmail.com to join. Membership is free!
  10. Hi, Just completed on a purchase in East Manchester. Looking for contractors in tendering for the works. Works include basement and loft conversion along with complete internal refurb. Anyone interested or could recommend a good builder/contractor that would be interested in tendering it would be much appreciated. Thanks John
  11. Wow! So many buyers from Hong Kong buy property in Manchester. I have been deal sourcing / investing in Manchester for years and I have never seen so much interest from Hong Kong. Nick - Smarter Property smarterproperty.net Are other people seeing a lot of new interest in Manchester?
  12. Hello, I'm Richard and new to this! For the past 5 years I've been living in South Korea. My family and I have relocated to Sheffield (for my wife's work) and we've just bout a family home! I was hoping for some advice, as I steam through previous podcast episodes, read the backdated magazines I've subscribed to and educate myself, I thought I may as well go the whole hog and post on a forum! I'm please to say, I'm now in a pace where I have crystallised my goal and strategy. It is long term, secure my future, hopefully enjoy a bit of extra cash in my pocket each month along the way - I hope to do this by purchasing properties, flip them and then rent them. I'm looking at more desirable areas in the midlands and the north. The present conundrum and to get me off the mark. I own, outright a 2 bed flat in a desirable Manchester suburb, the flat below has 'come up for sale' (I've asked the owner and he's willing to sell), the asking price is £170k, I'm not sure how good a deal this is, but it seems in line with the current market. I'm a little concerned of the strength of Manchester's market and think I'm a little behind the curve and late to the party. This flat currently rents for £695 gross per month. I think, with an investment of £10k it could be renovated and re-let at £850 gross per month, at least. I would be able to finance this with my own savings and a buy to let interest only mortgage. This would bring, after flipping, a yield of around 6% and a ROI of just under 9%. So, apologises in advance for this outpouring of questions: Does this sound like a good move? Is it wise to buy in the same block (this would be 2/4 flats)? What are the pros and cons of this? Anything I need to consider, like seeking permission of the other owners? Am I too late for Manchester? With it being a desirable, how should this affect my decision? Would I be better off looking elsewhere (in an area less well known to me than this suburb?) It is worth noting, I'll be looking to remortgaged my current flat later this year (hopefully) to buy two more properties - should I start with this 'safe bet' (is it a safe bet, is there such a thing?) in Manchester and then go further a field - Sheffield when I know the area better or Nottingham? Or should I go for those areas now as they may see good growth in 6 months / they'll be cheaper now? Many thanks in advance, I really appreciate any and all comments!
  13. HI, I am looking to invest into BTLs in Manchester and would like recommendations for sourcing agents. Would greatly appreciate if you have reliable and trust-worthy sourcing agents (who are rooted and grew up in Manchester, spent all their live there) to recommend. Pm is welcome. Thanks 555
  14. Hello everyone My name is Mike and im based in Liverpool looking to connect with investors and deal sourcers. Im on the road to getting fully compliant and wanting to source properties for investors who want to invest in the North West for a reduced sourcing fee as im just starting out, and a testimonial which would be very beneficial to me. Eventually I want to invest in property myself when i have a bit more capital behind me and gain some more experience. I have created deal packs/brochures on houses with property comparables, rental demand, sold house history, ROI, Net yield, Gross Yield etc to try and give good information for the investor so if anybody would like to have a look and give me some feedback it would be greatly appreciated. I would love to chat to some like minded people who are interested in the North West area so if this is you please get in contact and even if this is not you and you just have some advice for me again please give me a message it would be great to have a chat. Kind Regards Mike
  15. 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
  16. Hello all, I've been looking at buying in Manchester and have typically been looking for a house within 1 mile from the city centre. My thought is that a house within close proximity of the centre could be of high value in the long run once the centre starts to expand out. Most prime areas are very expensive for houses but Hulme is one of the few areas where prices are still very low. I'm not from Manchester and not that familiar with all the areas but from all the discussion around Manchester it has got me interested. I would be grateful for your thoughts on the area of Hulme and its prospects for growth. Or maybe you guys have insights to the reasons why it hasn't had the level of growth compared to other areas close to the centre.
  17. Hi Everyone, I was very interested in an auction property in Salford. I got the legal pack from the agent and arranged for a solicitor to go through it. The next day the solicitor told me that everything was fine with the property except for their being a rent charge on the property. I had no idea what he was talking about. He explained that the rent charge was a remnant of an agreement between Landowners and property developers from hundreds of years ago. Just like we have ground rent on leasehold property, a rent charge was a charge that the land owner put on any property that was built on their land. Apparently, this is still in use mainly in Manchester and Bristol. I was worried that the rent charge would be a hefty sum that would eat into the amount I could charge any tenant and so diminish any profits I could make on the property. However, the some was only £4........... Per Year!! Happy that my the property was still financially viable, in my head I was excited and ready to make an offer. However,!! there was more. The solicitor continued to say that although a small amount of money, I needed to be careful. There is a scam going on with these Rent charges! Yes, a £4 rent charge! The scam is because it is such a small sum of money and paid every year rather than monthly, people forget to pay. Property owners that forget to pay the Rent Charge can find that the Rent Owner ( the person or company that owns the Rent Charge) is allowed to add a lease to their property in payment of their debt. Yes, even if this is just £4! Now, the scam is that to get the Lease off your freehold property, you have to pay whatever amount of money the rent owner suggests. I have not bought this property yet. I wrote this post mainly to find out if the information that I have is correct or if the people that I have spoken to have exaggerated the consequences. Would be interested if anyone here has any experience or advice as to whether I should buy the property or not. I have found out that the property has had a lease put onto it. Removing the rent charge permanently is very easy and not too costly. But you have to know who the Rent Owner is. Even though I have tried to find out who this is, I have reached dead ends. Thanks in advance for your help Chim
  18. Hi All, I could do with some advice on how to get started on my property investment journey. I am 21 years old, still living at home in North Manchester with my parents and trying to figure out the best way to purchase my first house and a BTL property. I don't have a huge budget to work with so I am trying the make the money I have go further. I don't want to use the money I do have to just buy my first house and then all my wage's go towards paying the mortgage off and not be able to save a penny for my first BTL. The idea I currently have is to purchase a 2/3 bed semi detached house in North Manchester(my local area) which needs a little TLC. The plan would be to renovate the house, move in and rent out the other rooms while I live there. Completing the renovation should increase the property value and allow me to pull some of my initial deposit back out, to then be used towards the deposit of my first BTL. The rental income from the other rooms would also allow me to save the money I would normally spend on the mortgage, this would also go to saving for my BTL property I know this plan isn't perfect and has a lot of variables, this is why I'm asking the Property Hub community for their advice? Any advice would be appreciated. Thanks Ewan
  19. Hi All My name is Jonathan and i'm a first time buyer. Although i've been living in London for almost 9 years, london i thought that it was about time that i'll set out some plans to get a property for investment up north. it seems that i'm getting a bit of the 'analysis paralysis" syndrome as the more i read the less im sure about an area. for example, opening zoopla / rightmove on both rental to check the supply, quality and prices against the asking prices in Manchester for example it's hard not to notice that in many areas such as M14 there are an incredible amounts of properties that are available where probably most of them are empty for a while (or is this just my assumption ? ) On the other hand in the new development sector it seems that a lot of those developers have really tight rules regarding their own lenders, the amount of the down payments high overhead expenses and much more ....which seems a bit limiting what are you experiences in regards to a first time investment properties (location, prices, suggestions etc..)
  20. Hi all. We are finally at the "money is about to be made available to start up our company" phase, so I am looking for recommendations for a good (preferably great) property specialist accountant near me. Ideally, this would be around the Leigh area of Greater Manchester, but anywhere with 10-15 miles, so Wigan, Warrington, Manchester are all in there. I am pretty certain on the Limited Company route, as I already pay higher-rate tax, but have a LOT of questions about how to set it up for the best protection/lowest tax-liability, director's loans (both making them and repayment options), future-proofing both for my wife and my pension, plus our kids (I know Rob B mentioned something a while ago about setting his company up with his children owning 99% but he and his wife have a 1% controlling share, or something like that). Any recommendations will be gratefully received. Also, how much should I expect to pay for an initial consultation, as ideally, I would like to go to 3 accountants, to give me the best chance of finding the perfect fit for us? Thanks Craig
  21. 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
  22. Hello, I'm in my first buy to let situation, after a loss on my first property I learnt a lot from here. I am now looking to get a house before I leave the country this year, so I wanted to know if there are suggestions of where to look. From the 2017 podcast ASK97, does this still stand? I have seen Wigan, and Stockport, baring in mind the transport nearby. But this is my first, so risk is a consideration. Where do you suggest I should be looking at this time and since I am from the south, can anyone tell me of upcoming transport that I should be aware of as my research isn't conclusive. If it helps to know, I don't have a lot to invest with currently 20K and I need to have some for my move abroad too, I can look into those capital options myself. I appreciate the help and will look forward to your opinions.
  23. Hi Everyone, I'm currently investigating what are the possibilities to invest in property. I'm not owning any property yet, I have limited resources for the initial deposit and I'm based in London. I hesitate between two options for my first property investment: - Buying my own property outside of London with a quick commute (ie Chelmsford or Milton Keynes). The positive point is that I would only need a 5% deposit and I can use the first home buyer scheme. However, I'm concerned that the property I could buy won't increase in value and building in equity will only be based on my monthly repayment. - Investing in buy-to-let in the North (Liverpool or Manchester). The forecasts are planning a great increase in property value however I'm afraid that I will struggle to bring 20% deposit (I'm currently looking into getting a personal loan to not stretch too much of my finance, which is going to make it even more difficult). My investment goal is building wealth in the long term, I'm currently full-time employed and I'm not searching to get high profit from my investments for now (even though profit is still appreciated ) What are your recommendations? Please let me know your thoughts, Many thanks for whoever read this topic Anne-Claire
  24. Hi guys I have just leaped into my first investment with a standard BTL property in Salford, Manchester. Was wondering if anyone on here has any knowledge of the area and any thoughts on the deal. I managed to get the deal slightly below market value. I have attached the right move link below. Any feedback is welcome. http://www.rightmove.co.uk/s6p/61096188 Cheers Mason
  25. To any deal sourcers working in Staffordshire (also Manchester). I'm getting geared up with my father to buy 8 to 10 properties to start within Staffordshire, looking for value add below market value and also cash flowing turnkey, willing to pay sources and companies if the numbers still work after the fees. Will be buying out right the first 8-10. Let me know if you work in these areas, also if you are an agent working in this side of property get in touch. also interested in Cheshire and Manchester. PM me for email and contact, Add me on your email feed etc.
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