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Peterborough and Stamford


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  • 2 weeks later...

Hello all,

 

I should be in Peterborough Friday 24th to finally get the keys on my latest BTL purchase, so happy to come meet up again

 

Chris

 

(PS: My username has changed to Barny2015 due to some kind of system conflict)

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Hi all,

 

Sorry about the family illness Barry, hope things improve soon.

 

With regards to tonight, I'm in the position where I have some late meetings and my wife is having to get the keys for the flat when available and therefore if I was to attend this evening, I will be making the trip from Cambridge to P'boro just for the catch-up, so if only a few of us then I may have to be a sour-puss and say about postponing until a future date.  

 

 

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I don't generally have a lot going on, on a school night so shouldn't be a problem any Monday to Thursday.  Perhaps a week night other than Friday would fit better with everyone else?   This 2nd meeting is proving troublesome to arrange - how about we schedule with the official Property Hub meet ups?

 

Chris - I hope the completion went through smoothly!

 

 

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Hi all,

 

April is a little awkward for me with Easter Holidays starting today for 2 weeks and then off on holiday towards the end of the month but can confirm availability if you guys come up with a date convenient for you all.

 

With regards to the completion....I got the keys on the day as planned and have now set myself the target of end of April to have every wall painted, all skirting boards replaced or freshened up, curtain rails above window are all rotten so need to be replaced, bathroom has bumpy, rough walls so needs to be sorted but most major work is in kitchen which needs complete gutting (which i was expecting) but additional work (which I wasn't expecting!) is the leak on the mains water pipe under the kitchen sink which has rotted the unit and surrounding floor and had actually flooded the kitchen floor when I accessed the property for the first time over the weekend!

 

So, all in all, lots of work to be done but most of it I'd planned for but main thing is, once all complete, the property will be completely different in appearance to how it was when I first accessed it so looking forward to see what I can achieve!

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Sounds like quite a project Chris!! Are you doing the work yourself?

 

I hope to be completing on two properties in the next month (although I am finding the process painfully slow, so who knows?!)  I am planning a complete refurb on one - so would love to hear how you get on, and any recommendations for trades people would be great.

 

I could do any evening the week beginning 1st of May, if that works for anyone?

 

Holly

 

 

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I've done minor electrical and plumbing work myself so I'll do everything myself except for the kitchen install.

 

I can do Friday 5th May, I'll hopefully still have a tan at that point! ;)

 

My brother in law runs his own business and he has a guy who does Kitchen installs so he is going to have a look at it for me.  We only measured up on Wednesday so still waiting on cost but will definitely check his availability for other work.

 

Good luck with both your purchases, my single purchase was painfully slow so can't imagine what 2 is like! Good luck! 

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Hi Guys, Family illness now back on the mend thankfully....)

 

Congratulations - x2 - Holly .....!! Well done, have you purchased locally...? 

 

Sorry to to hear about your mishaps Chris but I'm sure things will work out.  You have set yourself a goal now, a great motivator...:)

 

To be honest, best evenings for me would be Monday - Thursday so if you'd like to sing out with suitable dates I'm sure I could match - that said, if it still needs to be a Friday, then I could look to accommodate at a push.

 

Best of luck with your projects and if you ever want a hand for a couple of hours I'd be more than happy to help.

 

Barry

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Hi Barry - Good to hear the family illness is on mend!!

 

Both local, one in Orton Longueville and the other is a new build flat in Peterborough centre.  Exciting but I must admit also a little nerve-wracking - but what's the worst that could happen?!?!  :)

 

Chris/Peter - can you do a Monday - Thursday?

 

 

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Hi guys,

 

Barry/Chris - believe you both have flats in your portfolio....

 

Just reading through the lease for the new build flat I am buying and the ground rent is £250 until Dec 2040, then £500 until Dec 2065, £1000 until Dec 2090 followed by £4000 for the remainder of the term.

 

Is this normal/reasonable?  I've never bought a leasehold before, so any input would be greatly appreciated!!

 

Thanks

 

Holly

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Hi Holly,

 

As Barry says above, this is the usual with many leasehold properties now so nothing to worry about.

 

Saying that, the 2 I own in Peterborough don't follow this pattern due to the Management Company only making repairs as and when they're needed but do give a timetable of planned maintenance for the year ahead which they invoice us for and then if emergency maintenance is required then they will give notice but show all costs and individual breakdown per property so you always now what will be paid.

 

For my 2, one has never gone over £300 over the last 7 years and my most recent has never gone over £700 in the last 10 years so I've always planned ahead, budget wise, that the lower one will increase to £750 at some point in next 5 years and the higher to £1000 within next 5 years so I always ensure I have this sitting in the 'pot' to cover it rather than not planning ahead, paying it when it's needed, stretching myself, and then gradually chipping away at it each month with the profit.

 

Hope it's all progressing well for you for both the properties, exciting times! 

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