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  1. Hello, I was looking to get some, advice from anyone about the property business. I am very new to property and don't know much about it or where to start, however I do have a growing interest in it. Open to any advice or suggests that you may have. Many thanks
  2. Hi Absolutely new to this and want some advice before I decide on a strategy. My wife and I currently run a successful business partnership which puts us both close to the additional rate tax bracket. We are paying back a personal loan to buy out my old partner which will be paid in 4 years time. We have over 500K equity in our own home which the bank will let us borrow against. We own the business property in a SIPP fund (total SIPP value about 120K, no mortgage with rent paid by the business). The SIPP fund returns 4K a year after fund fees but the property has not appreciated in 10 years. We would like to retire when the old partners loan is paid off in 4 years time and we would need income of 50K pa. once retired. We may be able to sell the business in 4 years but it is not guaranteed (as we pretty much are the business). Currently we save roughly 25K a year after tax is paid. My initial thought is to start a new Ltd company for the properties and possibly make our children directors as well (future planning). I don't think there is any way of getting the money out of the SIPP (I took 25% 3 years ago as tax free cash). Should I re-mortgage our home (I can get a rate of 1.3% interest only but we would end up paying it) and use those funds to buy properties. Should I rely on the 25K a year savings as a deposit and take out a BTL mortgage at a much higher rate. Is there another way of doing this? Should the funds go into the company as a director's loan (so it can be repaid in the future if/when the properties appreciate). House prices in our region are typically 200K for a 3 bed semi and rent for 950 a month but happy to look at other areas. Our key aim is to get enough income to retire in 4 years and ideally (but not essentially) repay the personal loans in 10. Thanks for your thoughts - please be blunt. Tim, wannabe investor.
  3. Hi, I'm currently selling my property and during the process my solicitor has advised she needs to request management packs for the paperwork. Both the lease holder and property management company have requested payment of £366 and £540. Are there any capped amounts for these packs? I'd previously tried to sell in 2019 which fell through but had also been subjected to the £540 charge back then, only to be told this charge would only allow an up to date pack for 6 months. I just wanted to know if they're doing this correctly as paying over £900 for 2 PDFs is a joke!
  4. Hi everyone, I’m new to the forum and I’ve just hit my first stumbling block during Covid-19. I’m in the process of acquiring my first off-plan property and the property lawyers I’m using have just emailed me to say they are ceasing trading at the end of June. I paid the full fee for their services up front and they have completed the initial exchange of contract and deposit transactions. The rest of their services would have been used nearing completion which now obviously won’t be done. Has anyone been in this situation before and do you have any advice for me/things to watch out for so that I don’t run into any problems going forward? I know I will have to get another property lawyer to continue with the purchase and that they should be able to use the details from my file with the original lawyer. I’m wondering what money/refunds and I am entitled to as all the services I have paid for haven’t been completed. Thanks in advance Rob
  5. Hi All, Attention all residential buy-to-let property investors! I am currently completing dissertation on how residential buy-to-let property investors adapting to the recent tax changes to industry. If you are a residential buy-to-let investor, keen to hear from you on your thoughts and opinions in support of the dissertation. Please like and share survey to those of interest in your network so as many responses can be generated in support of my MSc Dissertation thesis. https://www.surveymonkey.co.uk/r/BRDKQK7 Kind regards, Simon MSc Building Surveying Post Graduate London South Bank University.
  6. Hi There, My name is Harry and I'm 23 and researching where to buy my first property. I've had some ideas of places that caught my eye (derby, Gosforth, Stafford as it's near me), however I visited Wakefield recently and it seemed like a very nice place. I've listed to the podcast for almost a year now and caught up on a lot fo the early stuff and listen every week. I know Leeds is a very popular place to invest at the moment and so I feel Wakefield would be a good place to invest and after doing some preliminary research it seems I'm on the right track. However, with not being very experienced as an investor and also not having been to Wakefield many times (so not knowing the area too well apart from the online research I've initially done) I was wondering if anyone could give me a breakdown of the good and bad areas of Wakefield so I know where to target my search. Any background/extra info on Wakefield and perusal experiences would be much appreciated and I'd be more than up for a chat to get the low down. I'd also like recommendations on good quality resources for when/if I decide Wakefield is for me, such as: - Letting Agents - Property Sourcing companies - Maintenance (plumbing, electricals, landscaping, interior design, building work) - Mortgage Advisor (local) And other things of this ilk. Any information and advice given is much appreciated and I look forward to hearing what people have to say about this area! Thanks, Harry
  7. I’m in need of some advice. I just bought a mid terrace house with shared access with next door through the passageway in the middle of both properties. The neighbours have recently moved in as well and are saying the back garden fence is not down the middle of where the shared access ends and so is in need of moving. I can see that it is a little strange that there isn’t 2 gates to enter our respective gardens but they now have to enter my garden before going down the passageway. However the previous owners I think came to an agreement as both made changes on their properties close to the shared access line and perhaps moving the fence had benefitted both parties. My question is if I bought the house as is AND my neighbours also bought the house as is then would their boundary dispute have legs? any advice is helpful thanks PM
  8. Hi, My name is Stuart and new to the forum. My first dealings with property began in 2007 when I bought my first property at the age of 23. With advice of a financial advisor to stay clear of this purchase, I went ahead anyway because I just wanted to get in and live a party lifestyle. Looking back, I was so naive, but now I can relate the concepts of where and why I failed to help make better decisions for the future in regards to property. I purchased a steel framed 3 bedroom end terrace for £93k which was ex council but had been decorated to a nice standard. The failures I now realise in that purchase was it happened at the winners curse, on a 95% mortgage with a stupidly high interest rate. Oh and did I mention steel frame? An absolute shambles. My only saving grace was the crash in 2008/09, that after my fix term, my payments went from £500 pm to £314 pm. This sounds great but because I was so quick to get into the property at the start, I just signed the paperwork and didn't worry about the term which was set at 40 years to begin with. Totally mis-sold as I walked into Halifax and back out with a ball and chain of a deal by Birmingham Midshires. Anyway for the last 6 years it has been renting for £500-£595 pm covering the mortgage payment on a consent to let since I work a way being in the forces. At present, I also own my 2 bed home, which has had value added through rendering, new roof, interior decoration etc. After listening to the podcasts and reading books I now want to rent this as a means of producing more income when I finish a 22 year career as an aircraft engineer. Not interested in buying the big house or luxury car, but want something to give me the financial freedom of doing what I enjoy more. My desire has faded from engineering even though I am halfway through an engineering degree as a means of back up. My real passion is now in property and understanding how the world economy and debt really works including debt cycles. I have also managed delayed gratification for the last year and started to save much more money. My goal is to invest in my home village in the area of Fife due to the expansion of new homes and commercial units going in, plus it gives me the chance to manage it all myself as in dealing with people directly. The plan is to work for the next 3 years and receive my full service pension and find the right strategy to go limited or retain the right amount of properties in my personal name to give the passive income needed. My background is aircraft engineering, private pilot flying and reading or listening to everything from the likes of Robert Kiyosaki, Grant Cardone, Napoleon Hill and off course Property Hub. Just can't get enough of continuing personal development and spreading the word to the people around me. Hopefully this is the start of something new, acting on the desire of getting into property full time and sharing information with like minded members. Cheers
  9. Hi all, We all hear on TV, on the radio, in the papers and on property podcast about buying at auction, but, where are all of these auctions taking place and how do we get hold of the catalogues? I have searched many times on the web and never seem to find anything more than a few small sales, and barely any have any decent online catalogues. The best I have found and always refer back to is Clive Emson http://www.cliveemson.co.uk/ , but I am keen to find others. So, if any other members know of other sites that have a good online catalogue or catalogues that are easy to get hold of then please comment and share below. Many thanks. David.
  10. HI there, I would like to come in contact with a reliable, efficient and trustworthy solicitor. Can you please share recommendations based on past and happy service(s) received. Thanks in advance
  11. Hello, On the HSBC Business Account (Purpose of Account) it mentions: 1) Holding funds to be invested in the UK 2) Holding funds to be invested abroad Are holding funds mean like this: Bonds, stocks, private equity, hedge funds, pension funds, options, portfolio, mutual funds, futures, real estate, savings, personal funds, assets, shares. Is it any funds? The business account is for a private imited company. Thank you
  12. Hi, Me and my partner had an offer accepted on a flat at the end of January all has been going smoothly until recently. For a month enquiries from the seller have not been answered and the COVID-19 pandemic situation is growing. My partner works freelance and has now had phone calls canceling all work booked in for the foreseeable future working in the climbing industry which have now started to close climbing gyms to contain the spread until further notice. Obviously this is a scary time for everyone not only health wise but also financially. I know nobody knows what the future hold but i am worried, about holding off on this purchase and my partner is wanting to still go forward. I just wanted to get anyone elses opinion on this current situation not just for the short term but for the long term would it make sense to not buy until 2021?
  13. Hi all, My name is Fergal and I'm new to the forum so thought I would introduce myself. I have been working in the construction industry for the past 14 years in various different roles within architectural practices, main contractors and developers, working mainly in London and Ireland. I'm currently based in Belfast where I recently purchased a property for myself and have also been looking for investment opportunities in the area, but have an interest in other areas throughout the UK and Ireland. I'm looking to improve my knowledge and experience and gather a few contacts along the way. My plans for the future are to build a portfolio, create passive income through property and replace my day job. My skills and knowledge include Architecture, design, technical, construction and project management mainly within the residential and commercial sectors. Please feel free to drop me a mail if you have any questions or want to know more. Many thanks Fergal
  14. Hi all, I have an arrangement with a family member whereby the property was purchased by my sister and essentially "verbally gifted" to me to help me onto the property ladder. We are currently in talks of several scenarios in order to extract the equity/cash from the property in order to help me to build my portfolio. One potential case would be to sell the property and cash in on the current value; apart from the initial capital gains tax, are there any other law/tax penalties we should aware about if she was to transfer a lump sum to me following the sale of the property to fund my property portfolio? Would the situation be further complicated if I was to consider starting a limited company to build my portfolio using the cash received from my sister? Any insight in terms of the most cost effective (and legal) way to do so will be much appreciated. I'm just concerned whether a gift of this magnitude is acceptable in terms of putting a deposit payment on future BTLs in my own name/limited company. Thanks. Kind regards, Rayman
  15. 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
  16. Hello I'm Ash and I am currently serving in the Royal Air Force. I also have a geeky hobby of building websites and managing my own which I am hoping as time goes on will become my full time job and investing in property. Since a young age I was told investing in property is the way to go. Pensions are getting smaller, we are working longer and harder for our money. This may be a boring introduction as I have no properties to my name, however I am here to soak up as much information as possible so I am fully prepared for when the time comes. Pleased to be here. Love Robs books. Read 2/3 so far. Will have them all read soon no doubt!
  17. Hi, I currently work through my LTD Co as a contractor and am looking to set up another LTD Co to start property investing. I require an accountant who has knowledge of how to run both. Does anyone in a similar position have any good accountancy recommendations and who are also tech saavy? Many thanks, G
  18. Hello Everyone, I am looking to grow my network and would like to get your thoughts on any other property network groups which you are members of, or any meetups that you recommend in the London area or virtually, of course the PH Forum is great and very informative but I would like to know any useful resources that have helped grow your network and found informative? Thanks in advance
  19. Hi Everyone! I've been following Rob & Rob's podcast for a while now, and thought I would take their advice and ask for some help through the forum! My partner and I currently own a 3 bed flat in Kenilworth, which we purchased for £210k in 2017. We currently have it on the market for £250k, but have not had any offers past £230k in 6 weeks... but are now wondering whether keeping the flat and purchasing another smaller property would be the smartest move. We have £60k in cash, so could afford to buy a small house in Warwickshire for £250k (max) and rent out the flat as a buy-to-let. We both currently work full time, and don't have a property company set-up at the moment, so very much newbies to property - but are keen to get started on the ladder for the long term. I'd welcome anyone's opinion on what we should do, or the questions we need to start asking ourselves to work out what our best route is! Thanks everyone,
  20. Hello Hubbers, I was wondering if anyone knew of some good property software extensions for Chrome and other browsers? Or any other software that adds additional functionality to browsers, anything to enhance the way of interacting and saving some time. I have found Property Log (suggested by Rob & Rob on episode 301 of the podcast), property bee for Firefox and Property Tracker for chrome. There is also Nimbus Maps, which I had the chance to witness from an investor friend, it seems very impressive however I don't current have the spare cash to splash. Any suggestions would be really appreciated. Cheers Chris
  21. Hello new on here! My name is Jack and I am Quantity Surveyor, I have worked for a private developer project managing there developments from acquiring the land to end sale but I am now looking to work independently with investors. This could be either hands off or hands on for the property investor and I am happy to work either directly for you to manage the project or even a joint venture if that is an option! If anyone is interested please do not hesitate to make contact with me.
  22. Morning 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.
  23. Does anyone here think COVID-19 genuinely changes the long-term appeal of owning and renting urban property in the UK? The rise of homeworking and closure of leisure could seriously cause massive shifts out of crowded expensive cities. Interested to hear people's thoughts on what to do in light of this, how is everyone dealing with this? Anyway, whether its "counter-urbanisation" or just general sentiment improvements, UK housebuilder shares are doing well!
  24. As a property investor (I'm not a landlord): For example, I found a BMV property, then apply for planning permission to convert into an HMO property depending how many bedrooms and use the bridging finance to refurb it, then use the property to rent it out to potential tenants if that makes sense. This is a buy to let. Someone mentioned that property management/ Rent2Rent is a trading business. Which of these codes are applicable? It is really confusing. SIC codes SIC code 68100 is for the buying and selling of own real estate; so, if you’re going to be flipping and trading, this would be the code for you. SIC code 68209 is for the letting and operating of own or leased real estate. In other words, for buying and holding property and renting it out. SIC code 68320 is for the management of real estate on a fee or contract basis. So, for example if you’re going to set up your own management company, then this would be the right classification for you. (As an aside, if you’re going to manage properties for other people or third parties, you should definitely do this in a separate company, and for tax efficiency purposes, you may also consider managing your own properties for yourself but through a separate company). SIC code 68310 is for real estate agencies. In other words, if you’re going to do deal packaging, i.e. if you’re going to source properties for other people.
  25. Hello there! I am Paul, 23 y.o. and living in London. This is my first post on the Hub although I have been following the 2 Robs for quite sometime. I have been to the London East meetup and had a great time (secured myself a Property Hub mug and a magazine too!) and also got my tickets for the Property Hub Live event which I am SUPER excited about. MY SITUATION: Currently I am in a phase where I have been learning about property as much as I can and trying to figure out what strategies are out there and what is available to me. I work a 9-5 job in Finance and which I enjoy. But I am a few months ago fell into the property rabbit-hole and became hooked ever since. MY GOALS: Longer term I am saving up towards a deposit for a BTL (perhaps up north?) Looking to find a place where my cash can go a bit further and this has pushed me to widen my search outside London. Short-term, I am also interested in finding out other strategies related to property such as DEAL SOURCING. Seems like a great business model and a good way to generate cash that can be then used for my personal portfolio. I would love to hear from people that are doing this with any degree of success! WHAT I WOULD LIKE TO LEARN: I would love to hear from people that are involved in Property, perhaps even locally here in the London area and find out what they do and how they got started. WHAT I CAN BRING: A great pair of ears (and a coffee) for anyone willing to share their experience and have a chat about property! This is a brief overview of myself, my goals and ambitions! Hope to hear from any of you down below!! Thanks, Paul
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