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Hello all,

 

I am new to the forum and the property world. I am 28 years old and originally from Hong Kong. I currently live in London and have lived in Lincolnshire and the South West before. I have no experience in property investment yet but I am reading/watching/listening to all I can get my hands on to quickly gain the knowledge in how to start. This forum and website is a great place for free courses as I have seen quite a few others that cost an eye watering sum. I have also a few books to read in the coming weeks and months so that resources are plentiful to equip myself. 

I am a structural engineer and and am looking to diversify my income stream so that I can become financially independent sometime in the future (around 7-10 years time). I don't have a lot of cash to invest in now since I am at the beginning of my career so my plans are slightly tailored to build up the capital in the initial years (1-2 years) then invest in properties that bring in rental income. I am also looking for work with investors so that will help get things rolling.

 

My rough plans are as follows:

2020 - 1No. flip to get stuck in to get some hands on experience. I will have to do this as JV due to limited capital.

2021 - 1-2No. flips to further build on the momentum from the previous year to further expand my portfolio and experience. Also looking to get 1No. BTL to generate some monthly cashflow, will look to refinance to recoup the initial capital.  

2022 - 1No. flips and 2No. BTL to carry on generating monthly rental income.

2023 onwards will be too far ahead but the general plan is to get at least 2BTLs a year to build on the portfolio to slowly moving towards achieving financial independence. 

 

I am primarily looking at London for flips as this is the part of the country that I know best, also I appreciate you probably should be more hands on for flipping. For BTL I am looking at the hotspots where regeneration is poised to thrive in the next 5-10 years. Currently I have in mind the outskirt of south-bank of Leeds (already too late for the city centre I think) or Liverpool. But I am not too familiar with either places so much research is needed (on-going) to understand the demographic and the market. 

I am not going to pursue down the HMO route despite the higher yield but I think after this pandemic crisis the appetite and government policies will edge towards self contained units making HMO out of favour in the long term. (only personal view which may turn out to be completely wrong)

As mentioned above I am a structural engineer and I have experience in house extensions and refurbishments. If there is anything that I can help please let me know on here, I will try to answer as much as I can.

 

That's all from me and have a great weekend!

 

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