Discussion
I have a nest egg which makes 80k comftorably fundable hence that's my budget, it could be one property or more .
The T&C of my company pension for future accruals will be changing soon and I feel like changing employers ,hence another asset seems like a good idea .
I have rented a property out years ago so I am aware of pitfalls As for area I'm open minded living down south means it will be a long drive , and I do intend to manage the property myself
The T&C of my company pension for future accruals will be changing soon and I feel like changing employers ,hence another asset seems like a good idea .
I have rented a property out years ago so I am aware of pitfalls As for area I'm open minded living down south means it will be a long drive , and I do intend to manage the property myself
jayx73 said:
I have rented a property out years ago so I am aware of pitfalls As for area I'm open minded living down south means it will be a long drive , and I do intend to manage the property myself
What happens if your tenant calls up about a central heating failure at 11pm on a Tuesday?Jobbo said:
Hoofy said:
What happens if your tenant calls up about a central heating failure at 11pm on a Tuesday?
If you live next door and can go round in person, is that beneficial if you're not a heating engineer?jonah35 said:
Get a freehold house not a flat.
Service charge and ground rent eats into a flats income too much.
A friend of mine buys in Huddersfield, gets them for c.£60-80k and rents out for c.£500pm.
Good uni, between leeds and manchester, on m62 and so on.
Agree with this.Service charge and ground rent eats into a flats income too much.
A friend of mine buys in Huddersfield, gets them for c.£60-80k and rents out for c.£500pm.
Good uni, between leeds and manchester, on m62 and so on.
Do you fancy doing restoration/renovation work at the beginning? If so, perhaps a terrace house in need of work?
jonah35 said:
Get a freehold house not a flat.
Service charge and ground rent eats into a flats income too much.
A friend of mine buys in Huddersfield, gets them for c.£60-80k and rents out for c.£500pm.
Good uni, between leeds and manchester, on m62 and so on.
Service charge and ground rent eats into a flats income too much.
A friend of mine buys in Huddersfield, gets them for c.£60-80k and rents out for c.£500pm.
Good uni, between leeds and manchester, on m62 and so on.
That's a very decent gross yield at 7.5% even with a 50% deposit wouldn't take long to build up a decent portfolio. What's the tipping point where it makes sense to go ltd company vs individual with new tax regime?
jonah35 said:
Get a freehold house not a flat.
Service charge and ground rent eats into a flats income too much.
A friend of mine buys in Huddersfield, gets them for c.£60-80k and rents out for c.£500pm.
Good uni, between leeds and manchester, on m62 and so on.
Can you link us some examples of properties in Huddersfield that can be bought for £60k and achieve a rental income of £500pcm?Service charge and ground rent eats into a flats income too much.
A friend of mine buys in Huddersfield, gets them for c.£60-80k and rents out for c.£500pm.
Good uni, between leeds and manchester, on m62 and so on.
http://www.rightmove.co.uk/property-for-sale/prope...
This could be had for c.£58k i bet. Not the best example but you can see if you haggle hard and buy at the right time its doable.
'Go halves' with a family member and its easy enough to build up a portfolio quickly.
Obviously local auctions he says are cheaper and the odd reposession property comes up once in a while and he gets a discount for cash of course and you get in with the local agents.
I know hes got some at auctio n like the above for c.£40k or so.
Perfectly acceptable!
This could be had for c.£58k i bet. Not the best example but you can see if you haggle hard and buy at the right time its doable.
'Go halves' with a family member and its easy enough to build up a portfolio quickly.
Obviously local auctions he says are cheaper and the odd reposession property comes up once in a while and he gets a discount for cash of course and you get in with the local agents.
I know hes got some at auctio n like the above for c.£40k or so.
Perfectly acceptable!
Hoofy said:
Jobbo said:
Hoofy said:
What happens if your tenant calls up about a central heating failure at 11pm on a Tuesday?
If you live next door and can go round in person, is that beneficial if you're not a heating engineer?jonah35 said:
Hoofy said:
Jobbo said:
Hoofy said:
What happens if your tenant calls up about a central heating failure at 11pm on a Tuesday?
If you live next door and can go round in person, is that beneficial if you're not a heating engineer?Hoofy said:
jonah35 said:
Well, your phone would be off so you would ignore it until 9am and then You would text the plumber to go and sort it and get the plumber to forward you the bill
I suppose you could do it like that. Gassing Station | Business | Top of Page | What's New | My Stuff