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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
Hi all, I am new to this forum but a big fan of the podcast and online courses. Thanks Rob & Rob, I've learnt so much from you already, really glad I came across your podcasts when I first started learning about investing. I wonder if you can help me. I live and work in London as a TV producer (not Homes Under the Hammer don't worry) but I am from Leeds and looking to invest there. Currently looking for a BMV single let in Leeds and am hoping you might know of a trusted deal sourcer who can help. I am looking to invest around £70 k - £80k for a 3-4 bedroom house that will rent for around £600 - £700 a month. Not really interested in doing any kind of refurb but I am happy to decorate if it's worth it for higher rent. This will be my first BTL property but all funds and lender are in place and good to go. I am of course happy to pay a sourcing fee. Once I have this property up and running I would like to start investing in HMOs and/or Serviced Accommodation. I would love to hear from anyone on here who might be able to help source this for me? Or possibly point me in the direction of someone who can. Many thanks Katie Horbury
Hi there, I'm new to property investment. I've been researching for a while and decided I will start with basic single lets, 2 -3 bed apartments or houses. I also think that I do not necessarily need to invest near to where I live, which is the West Midlands. Although I'm still looking into the area, and haven't ruled it out. I keep getting drawn back to Hull and interested in some local information about the area. As it's won the UK city of culture 2017 I'm hoping this might have the same effect as it did in Liverpool a few years ago with investment looking promising. The house prices seem reasonable and the rent, although obviously low for some parts of the city, do seem to yield OK for the cost of each property. I am however a little concerned about the demand versus supply in the area. Does anyone who already invests in Hull have any advice please? Areas to avoid or to aim for, type of property to target etc. Regards Martin
Ok - so just curious.... Is there anywhere in the country that comes close to being able to provide the following "Unicorn" BTL properties... 10% yield on a single let (so not HMO or Serviced Ac) No LHA No "Ghetto" areas Good demand for Tenants and also people want to live there. Doesn't matter if its a 1bed studio or a 4bed house. In my experience it seems that the yield ceiling for the above is closer to 7%. Anybody able to beat 7% in todays market in some corner of this green and pleasant land ?