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james souter

Wanted Worthing Property Investors

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Hello All,

I have always been fascinated with the built environment and my 14 years as a Structural Engineer has not damped my enthusiasm. 

I became an accidental landlord with my wife some years ago when we left Stoke-Newington in London. The lease on our 3 bed maisonette flat had dropped below 70 years and unknowingly at the time would mean that we would not be able to sell the property. So we decided to turn the property into a BTL, remortgage and with the money raised we bought a wreck down on the coast in sunny Worthing to refurbish.

We are now ready for our next challenge and we have set our sights on starting a Limited company to grow a property portfolio in West Sussex and possibly further a field. I have spent the last 4 months reading and learning as much as I can about single let property investing and will continue to do so.

What I am really after now are like minded people that I can bounce ideas off and talk about the local property market. If anyone is interested then I will buy the beers!

Thanks everyone.

James

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Okay, seriously, 

Whilst I am not in Worthing, I do know the area and currently have 2 properties there in my LTD, and also interest in another property (All three are flats). 

I am a West Sussex boy - so whilst you can take a boy out of West Sussex, you cant take the West Sussex out of the boy. I left the area over 10 years ago, and although I know it has changed a lot of that time (I try to visit a couple of times a year), I am happy to share and discuss ideas and to talk about property

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Nothing schedule until late August. 

I'm actually based overseas and trips to the UK are only a couple of times a year. This coming trip I'm planning to review my property in Portsmouth, so heading along the coast to Worthing is quite possible. I owe several people there many beers. 

So what are you working on at the moment? 

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I have a 3-bed refurb that I am negotiating on at the moment. When I visited the property I noticed some Japanese knotweed growing which was interesting. I think it has scared all the other investors away so there might be a deal to be had. I have dealt with it before at a property. It can play havoc with mortgages so I am considering buying for cash and then once it has been dealt with and the refurb has finished, re-mortgaging. I am still gathering information so would appreciate any thoughts....

I am also looking at a 3-bed town house in Tarring Village, no work is necessary, just need to get the price right.

 

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Sorry, I do not have any experience of Japanese knotweed.

You having experience with this would give you an advantage over the other investors and also buyers. Definitely worth using this to drive a good deal for you, making sure you factor in the cost to rectify.

Where's about in Worthing is this place ?

 

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