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Newbie alert!!


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Hi All

My name is Lynsey and I am a newbie to the forum. I have previously dabbled in property when I had a full time job (I had a tenanted flat for 2 years, which I obtained by remortgaging my home but have since sold this-thankfully before the prices dropped so I made a substantial profit). I have been wanting to take my interest into property further for a while and when I was offered voluntary redundancy at the end of 2018, I took it to stop procrastinating and do something! I work better under pressure !

I am very interested in sourcing deals and have done a substantial amount of research and plan to do some paid courses on this, but just want to get started! I have also managed to persuade a friend of mine to go into flipping houses together-he is a builder and plasterer by trade. Therefore I am looking to build what is primarily a sourcing BMV properties business that will benefit investors and us-any properties that are relevant for our company we will flip and sell or rent them. 

I am based in London but not looking to invest here at the moment because the market is so stagnant! So, I am looking at Essex / Suffolk (this is where my business partner is based and where I am originally from, so we know the areas), but I am also really interested in investing in the North (Manchester, Leeds, Nottingham and Birmingham in particular) having listened to Rob and Rob. I went to uni in Keele, Staffordshire, so have some knowledge, but it is very limited and thus makes me nervous to invest so early on in my plans. 

Any help/advice would be greatly received! Looking forward to becoming part of the community.

Thanks

Lynsey 

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Hi Lynsey,

Welcome to the forum! It’s great to hear that you want to continue investing!

All the areas you have mentioned are good investment opportunities. However, if you are unsure about investing so far North and the amount of knowledge you have, it may be better to stay fairly local and build up your knowledge from there. Also having properties closer to yourself means they are easier to travel to and you will know the area better (as you said you are originally from Essex/Suffolk). Once you have started out you can always choose to invest further North if you feel you want to.

Essex is a great area to invest in and there are definitely some BMV properties there that you could invest in.

I hope this helps you and that your property journey progresses!

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