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Hello All, 

I am new to property - and this site so will take a brief moment to introduce myself; 

My brother and I live and work in London but plan to build a property portfolio up north. We are currently exploring Sheffield, possibly Rotherham, to start with because its our hometown - but are very open to other location recommendations? 

 

We have in region of £40-50k to invest, are both time poor and so will not be managing these properties ourselves. We are potentially looking at Private Sector Leasing to Local authority as an option to get the ball rolling with the intention to eventually do some multi-lets for higher yield. 

 

So, to my inaugural question!

We are the process of reading all the books and getting together the 'Power Team' - brokers, accountant, solicitor, agents, etc  I wondered if anyone could offer advice on where these ideally be located; London close to us - or up-norf closer to where we are looking to invest (and most likely lower fees)? Any recommendations for individuals also welcome.

 

Like most people new to this game I have lots of questions buzzing around my head, but wish to keep my topics simple rather than overload with multiple points..

 

Over to you all - any help, guidance, advice most, most welcome..!!

 

Thanks in advance,  Simon 

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  • 3 weeks later...

Which ever way you go, it will make life easier if you meet them face to face in the first instance. You can do all of the KYC (know your client) and ID&VA (identification and verification of address) stuff one time, then make it easier to do in future. 

 

I tend to use people who are good, irrespective of location. But I will meet with them in person first. So the biggest factor is making sure they are good at what you want them to do. Not necessarily what other people recommend them for. 

 

I wouldn't worry too much about having a remote solicitor or broker though. Agent, obvs get a local one if you can as they will be much more helpful if you're trying to do everything handsoff. 

Damien Fogg
MRICS CeMAP CeFA

Email: damien@theepinvestor.com

Web: www.theEPinvestor.com

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