Beeny. Kirsty. That one who used to do the Lloyds adverts. The one with the piggy little face and squeaky voice you'd love to have in a little schoolgirl's skirt. That tough Lesbian lickylike one who used to tell people off for their untidy houses. Or Phil. Or the Late Kristian. If that's your bag.

Job 1. Stop talking like you've spent an afternoon with Ajay Ahuja and been brainwashed.

Some mortgage lenders will only let you have 3 (eg Godiva) and some will only let you have 10 (shared amongst their sub-companies, ie Lloyds Halifax etc). So you could have 3 with Godiva, then 10 with Lloyds then x with y etc etc. I think in general principle, you are not prevented from holding any number of properties but as your numbers go up I think the number of mortgage lenders available to you will go down.

I'm sure Sarnie or someone else will be along soon to confirm/deny as appropriate!

I very much doubt you'll be doing much flipping. The property sales market is horrible at the moment and theres no money to be made in renovations either. You need a 25% deposit for halfway decent BTL rates too. If you have the funds to buy 10 properties that way I suspect you will still have 10 properties in 2 years time.

If you can make the maths work you'd be better off investing for good rental yield and using the rental income to build up more funds. You wont get it from appreciation any time soon.

ha ha ha quality.

had a chuckle there.

One thing Tonker is not is a cock. You might not appreciate his posting style, especially if you are on the receiving end, but he is usually on or within sight of the mark.

1. The ship has sailed for making yourself a fortune out of this. You can make an income but forget about capital growth for the next 2 years minimum and i would suggest prepare for 5 years of stagnant prices.

2. Given the above you are only likely to increase your funds based on retained income from rent so it will take much longer than a year or two to save up for property No3. You can accelerate this by adding funds from other sources to the pot.

3. BTL mortgages are not the same as resi ones. The T&C's for a start are a lot more 'bitey'. Make sure you know what you are signing up for rather than think you know.

4. Don't bother littering your talk on this subject with words like "leverage", "flip", and "portfolio". It singles you out as someone who thinks that they know more than they do.

As a small aside I have a lot of clients with BTLs. One who has just over 170 houses and flats would tell you they own a couple of small rental properties to keep the wolf from the door. The only borrowing they have is purely as it is tax efficient. Another one owns 5 flats, mortgaged to the hilt, and when all are let it just about covers the monthly repayments, Service Charges and Ground Rents. They believe they have a Significant Investment Property Portfolio.

Yes. But I don't think I am wrong. Maybe you'd prefer it saccharine coated ?

Here`s throwing the cat among the pigeons!

Cossie you`ve been given the wrong advice!

You CAN flip in this market. I`ve been doing it for the past 6yrs.

If you think you can buy a BTL and build up a pot of funds to then flip properties, you`ll be waiting years!

A BTL cash-flowing say, £200mth gives £2400 pa, less voids, less repairs, you`ll be lucky to net £2k. Even after 10yrs you`ve not got a great amount.

Buy one at the right price, in the right area. Maybe spend a few k refurbing, maybe not. Either sell on the open market or put in auction. Aim for a min of £10k net profit on up to £80k props. Make sure there`s enough profit for the next man and you`ll sell it. Be greedy trying to get top dollar and you`ll have the prop sitting there 6-12mths later and you`ll end up reducing the price anyway.

DO YOUR Due Diligence thoroughly on the price, prop and area, before you buy. Make sure that there`ll be a profit there on your exit.

My last deal completed 25th June earning £37k profit after costs. Previous to that I had 2 complete a few weeks earlier.

It can be done and there`ll be a lot of people laughing telling you it can`t.

Let them laugh! ;-)

If you want to PM me I`ll help put you in the right direction.

But everyone can make a packet, obviously and everyone is an expert.

OP A development, even a do it upper will need a decent deposit now, not after a few have been 'flipped'. And don't forget once you've put your deposit down you need the funds to get the work done, and hold the property until it's sold.

Refurbishing to put through auction doesn't sound so clever to me.

mental figures there. I bought a 3 bed terrace last month for £20k cash. Spent £10k doing it up, am getting £425/month

Rinse and repeat.