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Where Do I Start From

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I am new here and will need some guidance from the experienced ones.

I am on the verge of quitting my job due to certain issues at work and do not intend to work for anyone again but rather be my own boss.

I have a saving of about 150k to 200k (this amount might increase if I am able to sell certain properties I have abroad) and I am considering investing this into properties. If I go the property route I will be more interested in cash flow rather than capital growth.

I have been working as an expat in Africa for the past 6 years and do not own a house in the UK. A family member owns a business in the UK and he has my name on his payroll because I do his accounting stuff for him as I am a Chartered Accountant. Currently he pays me 1.5k a month but from next month I want him to increase to 2.5k which will enable me qualify for higher mortgage. My partner too is about starting a role and will be on a salary of 30k pa. 

I have a very good credit score which will assist in my mortgage application.

My goal is to earn 24k a year on BTL and a minimum of 40k a year on flips in the my first year and improve on this numbers as the years go by.

I would like to know from members how I can achieve these targets focusing on areas I should look at, whether I should buy the BTLs cash and refinance or mortgage, how I can build a trade team, the pitfalls I should watch out etc.

Thanks in advance.

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I think your goal is ambitious and probably unrealistic - particularly in light of the coronavirus outbreak.

You may find having been working outside the country impacts on your ability to get a mortgage and your lack of experience as a LL may also have a negative impact. (This becomes easier once you have been a LL for a while)

My advice would be to start slowly and build up your portfolio and income over a few years. BTL is not a get rich quick scheme and flipping may be very tough in the current climate.

Good luck

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