Jump to content

Hello from Brighton fellow property lovers! Nice to meet you all :)


Recommended Posts

Hello fellow property lovers!  I hope you are doing well.

A bit about me. I live in East Sussex. I have been involved in the property field since 2008. I bought my first property in the UK back in 2013. Since then, my wife and I managed to sell one and buy 2 other properties across the same area. We always did some cosmetic works ourselves as most of landlords I suppose, used equity to invest in other properties etc etc.

I left the IT/AV company I worked for over 13 years last year and I am now considering working as a property searcher and turn my passion into a profession and (hopefully!) make some money out of it. So, spotting a great possibility, checking the area, pricing negotiation etc should not be a problem for me as I have been doing this for a while around my area. I guess the questions that I have are related to points such as: how long this may take to take off; how to find investors outside my circle of friends and colleagues etc.

I am fully aware that I need to have some paperwork done before starting to operate and this will cost me, roughly, £2k. Do you guys think I should start working for another company before going into this journey to see if this is for me or not? I guess this could be a good way of testing the waters.  Another point: I don’t drive so I am thinking about focusing on properties in my city and surrounding areas reachable by train/ bus.

Please share your thoughts.

Thanks

Link to post

Hi Vinny, 

The main question would be, how long can you and your family survive on your savings (and any income (wife's salary/rental income) for?
Have you calculated all your outgoings per month?

Could you work another job into your passion, maybe look into working for a local estate agent to increase your property and local knowledge?

Starting another job will no doubt help financially but could end up causing more stress (learning new company policies, ways of working, clients etc) and then distract you from the end goal.

I would definitely get networking in the local area, doing research and seeing if there is enough interest/business for what you want to do. And focus on getting the required paperwork to avoid any holdups in bringing in money when it is available.

Probably missed lots of other things and I'm sure you've considered all of the above, but something to start the conversation.

Thanks,
Ben

Link to post

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...