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Hi everyone...

 

I am Liz. 

 

While I have been an accidental landlord for the last 6 years and a (major) 'doer upper' of every property I've ever bought to live in, I haven't ever really invested in property with a view to it providing my income (though I have wanted to and thought about it since I purchased my first flat in 2000!)

 

I figure given that I've spent the last 10 years managing business' for other people and project managing store openings for retailers around the country - I should use those skills to benefit myself ??!! 

 

So, now is the time. Unfortunately my recent foray into buying a flat via auction has not gotten off to a great start with many problems arising around the lease etc - so I have had a crash course in bridging finance, lease and freehold legalities etc etc… so you live and learn!

 

I have 2 strands to my ultimate plan.

1. Enough BTL properties to provide my sole monthly income. (along the way flipping some to generate capital more quickly that waiting for a rise in the market)

2. To have at least 1 HMO with a view to using this for social housing (ideally for those folk trying to get back on their feet again etc)

 

Glad to have found you guys and looking forward to the journey!

 

Liz

 

 

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Hi John, Denton in manchester and reddish in stockport at the moment. very good yields in these areas and prices are slowly rising, getting harder to find and secure good deals but they are here.

Where do you invest ?

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Ah Burnley very cheap, I worked there a few years ago at thr hospital and had thought about it but it's a bit too far away from me (stockport). do you rent to Lha tennants? 

I know gorton very well and Wigan a little less so but leigh is cheap at the mo

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Hi Lee

 

The plan is Bristol, I lived there and was a student there (many years ago!) to begin with. Am tempted by the 'North' particularly Manchester, Liverpool given the lower house prices / yield etc but not too sure on the geography. Thought I would start with the area I know better...

 

Liz

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Lee I'd welcome your thoughts on Gorton? There seems a fair disparity between north and south Reddish, with the Gorton end proving better value. I've been wary of moving into Gorton but there are some decent properties there and some reasonable spots.

 

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On ‎02‎/‎01‎/‎2017 at 6:13 PM, liz hall said:

Hi Lee

 

The plan is Bristol, I lived there and was a student there (many years ago!) to begin with. Am tempted by the 'North' particularly Manchester, Liverpool given the lower house prices / yield etc but not too sure on the geography. Thought I would start with the area I know better...

 

Liz

Hi Liz,

If you're from Bristol, I would recommend South Wales. I am working on my third flip in the area. Lots of terraced houses from the old mining communities which need renovation and usually go for about 55k-70k for a 2 or 3-bed.

So far I have managed an 11% ROI per project.

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I have considered South Wales. My family are actually from the area. Wherarbouts would you recommend, I see there is new investment going into the Merthyr area. What about BTL in this area is there much of a market?

 

Liz

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2 hours ago, liz hall said:

I have considered South Wales. My family are actually from the area. Wherarbouts would you recommend, I see there is new investment going into the Merthyr area. What about BTL in this area is there much of a market?

 

Liz

 

Yeah I would suggest the Merthyr area, basically the A470 corridor north of Cardiff is very popular and will benefit from new investment into transportation networks and infrastructure which should make it more commutable to Cardiff. 

 

I've been buying/renovating in the Pontypridd area, and that seems to have a healthy market. I haven't had a property sit on the market for more than 2 months.

 

I am not really involved in BTL, but it seems like an annual return of 9%-11% is fairly standard around that area.

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