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Found 11 results

  1. Hi everyone, I’m Elliott. I’m a newbie to property investment but am 100% committed to building a passive income for me and my wife that will give us more time to do the things we love. I made the decision to return to education as a mature student and graduated from Portsmouth Uni last year with a degree in Property Development which gave me a great ‘textbook’ insight into property investment, so I am now trying to absorb as much ‘real life’ information from podcasts, books and the PropertyHub as possible. Living down in Southampton, my short term strategy is to initiate a Rent to Rent portfolio to help build a cash pot for my own investing. Long term my goal is to steadily build a portfolio of BTL and HMO properties to replace my salary as a Construction Manager. Appreciate this isn’t the most exciting introduction as I have no properties to my name, but I am keen, eager and love talking all things property. I’m new to the forum but if anyone has any advise or hints for starting out, particularly regarding Rent to Rent or investing in or around Southampton area, I would love to hear from you. Many thanks, Elliott.
  2. Hello All, About Me: I am a 30 year old looking at getting into BTL for long term growth, have read plenty of material, books, podcasts etc. Being a home owner myself, we bought below market value and have done a refurbishment and added equity to our primary residence although this isn't the particular route i want to go down I learned a lot in the process. I am an Engineer within the Merchant Navy industry and work 3 months on/off so have plenty of time to spend on building my strategy and portfolio. Main reason for post, was supposed to be at the Southampton meet up tonight but cant make it due to illness. That said, is there anyone around the same stage as myself in the Southampton area that might want to connect just to share tips and the odd boost of encouragement along the wya. Would like to hear from you. Keep up the posts guys, its invaluable to us newbies. Regards, David
  3. Hello I need help finding property in and around the Southampton area. If anyone knows any "property sourcing" companies in the area? Thanks in advance
  4. Hi, My girlfriend and I (Kirsti and Sam) have been to a sales seminar about making money from property and with a bit of research have decided not to go on their training course/sales pitch. We have however decided that we want to get into property investment for our future and to become financially free (hopefully), we have together done up a house already and have some equity in it and we enjoy the renovation side of things. Looking into some strategies we think starting off with a flip or 2 to build up our cash is the way we would like to go before getting our portfolio of properties really going, is there advice anyone could offer on the best way to get started or techniques for flipping or just general property investment as a whole. Forgot to mention we are in the Southampton area for work so ideally staying in that area would be best. We look forward to hearing from you Many thanks Kirsti and Sam
  5. Hello, Does anyone know a good mortgage broker in Southampton area? I work overseas and have no UK income besides 3 BTL rentals which produce about 20K per year. Thanks!
  6. Hello, Does anyone know a good mortgage broker in Southampton area? I work overseas and have no UK income besides 3 BTL rentals which produce about 20K per year. Thanks!
  7. Hi All, Me (25) and my wife (22) are thinking about buying a property. I currently Work in Chandlers Ford as A design Engineer and we live in Eastleigh. We are starting to look at properties this weekend but wanted your opinion on where to buy. Budget: 250k max probably more around 200k We have been thinking of trying to get a property close to Eastleigh Train Station. Chandlers Ford is also an option but is slightly more expensive. I don't think i'm as keen on buying in Portswood but I could be wrong. Basically I don't know the area well enough to know 100% where to buy. I mean I would like to to go up in value . Any insight you have would be invaluable so thank you in advance!
  8. Hello there! I have recently just left University and managed to buy my first property, a flat for 80k outright as i have received my inheritance early from my parents to help me on the property ladder and my own savings. Since then i have been reading about investing, i did try to buy a flat knowing that i'd not be living in it very long which would produce a good return when i left (or so i thought), i have a lodger in the other room so it does earn me a little bit of money. The flat was being let for 600pcm previously so i should be able to get that or a bit more when i do eventually move out... after costs i expect to receive 350pcm if i were to let it out. But since learning more i think i'll release as much equity as possible to purchase a BTL whilst maintaining a positive cash flow, or buy another property on a residential mortgage and let out spare rooms to lodgers - avoiding stamp duty and getting better mortgage rates and take advantage of the 7k or so you can get tax free from letting a room in your main property. I have a Job where i earn quite a lot of money so am planning on investing in assets with a good chunk of my income and hopefully will be in a position to be able to purchase properties at a rate of 1 or so a year. I'd love to hear what you think of my plan And at the moment I am trying to learn lots more about leeds and investing and hopefully will meet some people and contacts that would be useful in leeds and i am open to working in partnership and investing with a partner!
  9. Dear All, A newbie to the site, so hope to be able to add input and experience going forward, though alas for now I’m going to be a net taker [hopefully] of some worldly wisdom from people here. Overview: I’m not entirely new to BTL, having held a ½ share with a family member of a 5 bed HMO let to professionals in Southampton for the last 6 years. To date I’ve rarely had much to do with the place as the family member lives close and in addition to a wider portfolio he holds in the area, has self-managed this property alongside his others. We are now at the point of wanting to buy the other out, most likely by re-financing and I’m seriously considering taking the place on myself and self managing, with him as someone that could help out if needed, he has a network of handymen etc. that can be called upon for repairs etc. I live in London. Details: We bought the place for 215k and it has 165k interest only mortgage outstanding. Rental income is currently £2,200 PM All bills [council tax, gas, electric etc.] are included in rental for tenants, the monthly cost of these is £520PM Mortgage interest currently is £482 PM So this gives a net income of £1,198pm before tax We both invested 50k into the property initially, covering deposit on 75% LTV and then re-furb costs [this was pretty extensive, pretty much an entire gut out of the place]. So at the moment the ROI is about 14% before tax. To buy the other out, one of us would need to release 50k equity, via re-financing. We had the place valued around a year ago and agents said given the re-furb and offering it to the market as a tenanted BTL with a track record, it would be worth at least 275k. Though this would be less if you were going to sell to a homeowner vs. another investor, thus from a re-financing perspective there is equity there that can be taken out. Prices in the area have remained relatively flat, so this 275k valuation probably still holds and it maybe now worth a little more. As anyone on here investing in Southampton knows, whilst yields are very good, capital growth isn’t. If I were looking at taking it over I would most likely look to re-finance at 75% LTV, try and push the valuation if I can to 286k, meaning I could take out the 50k to repay the other party and not have to put anything else in myself, thus keeping my initial investment as was at 50k. With the new mortgage cost, this would end up returning around £840pm before tax, so circa 19% ROI on 50k invested. In light of the proposed changes in the budget last week, I would also propose transferring the property to my wife’s name, she currently doesn’t work, so this would minimise the tax due to utilising her currently not used personal allowance. I guess my questions are: § Am I missing anything fundamental here in considering taking this on in the above? § Does the overall proposed takeover strategy seem / feel right. Would people have different strategies, e.g re-finance on a higher LTV, 80/85%, which would produce a lower monthly net cash position but a greater ROI as you could take more of the initial 50k invested out? § Is it right to look at the 275k valuation when it’s skewed just towards investment purchasers, should a figure be taken as a median between a home owner purchaser and an investor? Cleary would be a lower figure, requiring one of us to stump up more cash to buy the other out? § Am I mad to consider taking this on and self managing remotely? Clearly adding in letting fee’s reduces the attractiveness of the deal? Appreciate that’s quite a lot of info and quite a lengthy first post, so apologies but any perspectives very welcome. Thanking you.
  10. Dear All, A newbie to the site, so hope to be able to add input and experience going forward, though alas for now I’m going to be a net taker [hopefully] of some worldly wisdom from people here. Overview: I’m not entirely new to BTL, having held a ½ share with a family member of a 5 bed HMO let to professionals in Southampton for the last 6 years. To date I’ve rarely had much to do with the place as the family member lives close and in addition to a wider portfolio he holds in the area, has self-managed this property alongside his others. We are now at the point of wanting to buy the other out, most likely by re-financing and I’m seriously considering taking the place on myself and self managing, with him as someone that could help out if needed, he has a network of handymen etc. that can be called upon for repairs etc. I live in London. Details: We bought the place for 215k and it has 165k interest only mortgage outstanding. Rental income is currently £2,200 PM All bills [council tax, gas, electric etc.] are included in rental for tenants, the monthly cost of these is £520PM Mortgage interest currently is £482 PM So this gives a net income of £1,198pm before tax We both invested 50k into the property initially, covering deposit on 75% LTV and then re-furb costs [this was pretty extensive, pretty much an entire gut out of the place]. So at the moment the ROI is about 14% before tax. To buy the other out, one of us would need to release 50k equity, via re-financing. We had the place valued around a year ago and agents said given the re-furb and offering it to the market as a tenanted BTL with a track record, it would be worth at least 275k. Though this would be less if you were going to sell to a homeowner vs. another investor, thus from a re-financing perspective there is equity there that can be taken out. Prices in the area have remained relatively flat, so this 275k valuation probably still holds and it maybe now worth a little more. As anyone on here investing in Southampton knows, whilst yields are very good, capital growth isn’t. If I were looking at taking it over I would most likely look to re-finance at 75% LTV, try and push the valuation if I can to 286k, meaning I could take out the 50k to repay the other party and not have to put anything else in myself, thus keeping my initial investment as was at 50k. With the new mortgage cost, this would end up returning around £840pm before tax, so circa 19% ROI on 50k invested. In light of the proposed changes in the budget last week, I would also propose transferring the property to my wife’s name, she currently doesn’t work, so this would minimise the tax due to utilising her currently not used personal allowance. I guess my questions are: § Am I missing anything fundamental here in considering taking this on in the above? § Does the overall proposed takeover strategy seem / feel right. Would people have different strategies, e.g re-finance on a higher LTV, 80/85%, which would produce a lower monthly net cash position but a greater ROI as you could take more of the initial 50k invested out? § Is it right to look at the 275k valuation when it’s skewed just towards investment purchasers, should a figure be taken as a median between a home owner purchaser and an investor? Cleary would be a lower figure, requiring one of us to stump up more cash to buy the other out? § Am I mad to consider taking this on and self managing remotely? Clearly adding in letting fee’s reduces the attractiveness of the deal? Appreciate that’s quite a lot of info and quite a lengthy first post, so apologies but any perspectives very welcome. Thanking you.
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