Search the Community
Showing results for tags 'newby'.
Found 6 results
Hi guys, so happy i found this forum. Just hoping anyone can share or point me in the direction of resources to learn about the legalities of using a software platform to raise capital for property development. Being a software engineer, I always loved the idea of merging my interest in property with code and automation. Currently im doing some research into the space and about to go through my first purchase of a property, God willing, but really would appreciate any help with this.
Aspiring landlord North Notts
markthughes posted a topic in Introduce yourselfHi, I’m 58 and looking to get into property with my wife and daughter. I’ve read books/listen to pod casts and am doing the Property Hub training - the wealth of information is mind blowing. I have a pretty good amount in my pension and I have cash to invest so I’m looking at all options (flipping, BTL, HMOs). We’ve spoken to a tax advisor who suggests setting up a limited company. I read about possible returns (12-14% for HMOs) but I’m struggling to see how to achieve this with all of the costs (stamp duty, taxes etc). Our goal is to get a steady return on our investment to generate profit that my daughter can use to save for a house of her own and also to provide a supplement to my pension (when I decide to retire). We’re based in Nottinghamshire so looking for houses in Nottingham, Sheffield, Derby ideally. Mark
Buy now vs Wait for 'the big dip'
c_barbs posted a topic in Introduce yourselfHi, Im Chris, Im looking to quit my job within the next 4/5 years. Im currently in a position where I have cash available to put deposits down on potentially 2-4 properties initially. Im itching to get started and reach my goal as soon as possible, however I'm finding myself getting mixed messages about whats around the corner with regard to a crash or housing market dip. I want to get going asap but I'm also stuck thinking about holding off until the market begins to weaken and opening up for better deals, but also I don't want to get stuck waiting for the 'perfect moment' Also, I do have experience renting and managing a single property from a few years ago. Now that I'm looking to start this as a way to financial freedom and make it my job full time, would you advise doing 1-2 properties at a time and building slowly or would you speed things up buy buying 3-4 at a time? Im in this for the long investment with no initial views on flipping properties. Any advice would be really appreciated. Thanks, Chris.
Hi there, I am grateful for property investment education provided by Property Hub and members in this forum. This is my first post and please forgive my ignorance on property matters. I am new and I have been reading non stop for the last couple of days. I am writing this post to clarify my ideas and would be grateful if someone could reason with me. I live in Hampshire with £30.000 in savings, a joint income of just over £70,000 per annum and rent a housing association property. My plan is to invest into a BLT property with the aim to achieve annual profit to replace joint income and become a property investor. I also have the option to buy the property I am currently living in under the Right To Acquire scheme (RTA) which comes with lots of restrictions for the first five years and it is not a new property which means that I will not be able to get a mortgage under the Help to Buy scheme (correct me if I am wrong). I have number of questions and I would appreciate if someone could help clarify my thoughts and plan. 1. Would it be more profitable to invest in a BLT property and then buy my current home later? 2. What are my options for a mortgage for a BLT property? 3. Most of the posts have read talk about investment in the North West, how is Hampshire doing and which part of Hampshire has the potential for growth? 4. How to manage a property from a long distance if I was to invest in a BLT in the North West (Manchester, Stockport, Bolton etc..) Sorry, lots of questions. Thank you for your replies Al
£50k - where to begin ...
JimDono_18 posted a topic in Introduce yourselfHi all, My wife and I have been interested in the idea of property investment for a number of years, however have only really started to research it properly the last 12 months. Having attended seminars, read a lot of literature and researched online, we decided to go for it at the beginning of 2019! We had £20k in savings, so having consulted a mortgage broker decided to remortgage our house and release £30k, bringing the total to £50k. Mortgage repayments have gone up, however it’s more than affordable so we feel confident with our decision. We’ve then set up a ltd company which we’ll use for the purchases and have an accountant who will support our tax obligations. We’re now in a position to begin viewing potential properties in the Greater Manchester area (focusing more in the north, as the South is out of our price range). We’re also from Manchester so feel confident to complete our first purchase in this area. Our strategy is to purchase a property in the region of £100k (less if we can negotiate), put some money into it to modernise e.g. carpets, decorating etc. and then put on the market for rent. We plan to apply for a 25% interest only mortgage. As we’d continue to save with our current jobs, we’d look to repeat this again by the end of the year. By this time, we’d be able to remortgage the first BTL, release some equity and go again (with additional savings) and so on and so forth. Appreciate location and fundamentals are key with any purchase and these will be considered when making our purchases (as will ensuring cash flow is positive). To us, this feels like a good strategy to stick to, however appreciate there always risks. To the more seasoned investors, do you think this makes sense and are there any pitfalls that we should be thinking about before we make the big decision to purchase? Thanks for your help! Jim
Hello Property Hub fellow members, We are both French currently living in Singapore. We have been in several property workshops like rich dad/poor dad and started to educate ourselves in financial education this year. We probably still have a lot to learn but we would like to put a big step forward and buy our 1st property by end of this year (for BTL purpose), maybe 2 if we can. We have been in touch with tax accountants, mortgage brokers and been advised that a limited company will be the best vehicle to carry our investment in the UK as we are living oversea and are not UK citizens. The big wall for us is now to open this limited company and a bank account in the UK specially. If you read this post and have been in a similar situation in the past and would like to share some tips and maybe guide us, we will be happy to talk to you! Thanks for reading and looking forward to some positive vibes! Gregory & Mirindra