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Hello, New Investors - looking forward to getting started!


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Hi,

 

About to start our property investment journey.  Michelle (my wife) and I quit our jobs a year ago following a personal set back and decided to travel the world, something we wanted to do for a long time.  It really allowed us to take a pause out of the rat race, take a deep breath and stop and think about where we were in our life.  And lo and behold we realised that we had been focussing too much on the traditional criteria of success and not focussing on ourselves enough.  We also realised that we had financial freedom within our grasp if we made some radical but common sense steps (such as downsizing our current/old house and releasing the equity, minimising our spending, investing in cash positive assets etc.  Yes you can see we read Rich Dad/Poor Dad whilst we were away!!).

 

And so as part of our approach to reach this financial freedom we are beginning to invest in property.  Our goals are simply put, not to have to work in 3 years time but please don't underestimate the amount of thinking and deeper emotional and financial planning we have put behind that goal!

 

So, we're currently lining up our finance, establishing and documenting our annual, monthly and daily goals and looking to pull together our 'super team' in preparation. 

 

Our strategy is for a safe and steady income focussed portfolio within the professional lets arena. 

 

We have a monthly / annual net income objective of £5,000 per month / £30,000 per annum to achieve in 3 years. We are lucky enough to have an investment pot of £400,000 to get us up and running in order to achieve this and also luckily one of us can focus on this full time hence the ambitious timeline. 

 

Our strategy and realisation of our outcome is based on an expectation of achieving a minimum net yield of 2% (before tax) on each property. Playing it safe we will be focussing on adding good quality 3 bedroom family / professional properties into our portfolio. 

 

Based on the enormous wealth of experience within this forum I would love to know if our strategy and ambition is achievable in your experience and whether we are being realistic, particularly in our expectation of a minimum 2% net yield. Any other ideas, feedback or suggestions would also be enormously appreciated!

 

Thanks in advance and we really look forward to hearing from you,

 

Greg & Michelle

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Hi John,

 

Thats the stage we are at right now.  I have been analysing close to us based on knowledge of the area rather than a desire to invest here (cotswolds, south midlands).  I see it as practising with the numbers in a safe area.

 

The obvious places to focus on seem to be in the North based on the data I am reading (and hearing from the podcasts etc) so I will be turning my search soon to Leeds, Manchester, Stockport, Bolton, Newcastle & York.

 

Cheers

 

Greg 

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