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Hello from the Midlands!


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Hi everyone,

Just though id write a quick introduction as I hope to be an active part of the community in the future.

My wife and I relocated from the south east to the midlands (Rugby to be precise) for work reasons about 6years ago. 
This move made us “accidental landlords” as we were able to keep out property in the SE. We didnt really think much of it and just thought it must be a positive for the future... until now.

A few months ago we decided to take action and have been stuck in the books trying to give ourselves the best shot at not completely mucking up!

We are in the process of releasing equity to purchase our first single let through a PLC.  We hope to recycle some of this cash to fund future projects.
We have been looking at Coventry and Nottingham but are a little unsure.
 

Any advice, tips, documents are all very welcome

At present I have very little expertise to offer on property.. i will be documenting our progress on instagram so feel free to follow us @pilot2property

however I am a currently a line 737 pilot and was previously a flight instructor.

so if anyone has any questions about learning to fly, are currently training and need assistance or ate interested in any other aspect of aviation i would be happy to try to help.

Cheers! 

James

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Welcome!

Nottingham is a good place for rentals, but there are good places and bad so do your homework. You should also be aware that we have Selective Licensing in the city and an Article 4 directive requiring planning permission for HMOs (if you are going that route).

You might also want to join DASH which will give you access to training and a discount on your SL Fee if you buy in Nottingham.

My one tip for buying a rental - make sure you can achieve an EPC C - legislation is going to make this necessary sooner or later (currently possible in 2025) so don't but a Victorian / Edwardian terrace with no hope of achieving this without major expense. Buy something newer, with better insulation standards and save yourselves the hassle!

Good luck :)

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Hi James,

My partner and I are on a similar journey, we set up a Ltd Co and have just completed our first property purchase which is now rented.

It's a small world, im also a 737 pilot and guess you are flying the Neptune as well? I'm far from an expert but feel free to message me anytime, we are also looking for our next purchase.

Cheers

Chris

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On 2/19/2021 at 1:52 PM, julia urquhart said:

Welcome!

Nottingham is a good place for rentals, but there are good places and bad so do your homework. You should also be aware that we have Selective Licensing in the city and an Article 4 directive requiring planning permission for HMOs (if you are going that route).

You might also want to join DASH which will give you access to training and a discount on your SL Fee if you buy in Nottingham.

My one tip for buying a rental - make sure you can achieve an EPC C - legislation is going to make this necessary sooner or later (currently possible in 2025) so don't but a Victorian / Edwardian terrace with no hope of achieving this without major expense. Buy something newer, with better insulation standards and save yourselves the hassle!

Good luck :)

Hi Julia,

Thanks for your reply! 

We were aware of the licensing but have now looked into joining DASH so thank you.

Our plan is to 'build in' sustainability and energy efficiency to our properties whereever the budgets allow. We will look into EPCs for exactly what we need for C+ and make sure we can achieve this on all our purchases.

We have been researching for a few months and visited Nottingham a few time on the best locations, Do you have any suggestions or opinions of places to go for/ avoid? 

Have a great weekend

 

 

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Hi James,

Areas of Nottingham really depend on what market you are going for and your budget. But here's a little run down from my perspective:

  Beeston: great little place on the outskirts. Tram gives brilliant access and it'd own shopping area. Great for post grads & families. Pricey though now.

  Anything in the city centre: great for young professionals  

  St Annes: No

  Mapperley: Easy access to the city, cheaper area

  Carlton / Gedling : great for families, bit more expensive

  West Bridgeford : very popular but very pricey (local saying is its all fur coat & no knickers!)

  Lenton / Dunkirk : students

  Netherfield : cheap but flood risk 

  Radford : studenty & grotty

  The Meadows : pretty grotty

  Sneinton : bit down market but cheap and close to town

  Bakersfield : slightly nicer than Sneinton

My rentals in the city are in NG3 6LZ & NG3 5FD & I live in Carlton. Also had a property in Beeston that did very nicely but sold it last year as its the wrong side of town for me really.

Hope that helps & good luck :)

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On 2/26/2021 at 12:08 AM, coinmok45 said:

Hello and Welcome 🤗

Hi!

On 2/25/2021 at 2:10 PM, julia urquhart said:

Hi James,

Areas of Nottingham really depend on what market you are going for and your budget. But here's a little run down from my perspective:

  Beeston: great little place on the outskirts. Tram gives brilliant access and it'd own shopping area. Great for post grads & families. Pricey though now.

  Anything in the city centre: great for young professionals  

  St Annes: No

  Mapperley: Easy access to the city, cheaper area

  Carlton / Gedling : great for families, bit more expensive

  West Bridgeford : very popular but very pricey (local saying is its all fur coat & no knickers!)

  Lenton / Dunkirk : students

  Netherfield : cheap but flood risk 

  Radford : studenty & grotty

  The Meadows : pretty grotty

  Sneinton : bit down market but cheap and close to town

  Bakersfield : slightly nicer than Sneinton

My rentals in the city are in NG3 6LZ & NG3 5FD & I live in Carlton. Also had a property in Beeston that did very nicely but sold it last year as its the wrong side of town for me really.

Hope that helps & good luck :)

Very very helpful thank you!

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