Browse All Tribes or choose a Tribe below:
By signing up I agree to Property Tribes Terms and Conditions
Already a PT member? Log In
Sign Up With Facebook, Twitter, or Google
By signing up, I agree to Property Tribes Terms and Conditions
Already a PT member? Log In
Don't have an account? Sign Up
To reset your password just enter the email address you registered with and we'll send you a link to access a new password.
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
That made me laugh :-)
FOR INDEPENDENT MORTGAGE AND INSURANCE ADVICE
PROPERTY TRIBES FINANCIAL SERVICES
CONTACT US FOR LIFE INSURANCE QUOTES AND STRATEGIES. PORTFOLIO MORTGAGES (VARYING TERMS) COVERED
MULTI CREDIT REFERENCE AGENCY REPORT, IN ONE DOCUMENT HERE.
Has he got two or more properties though ... ?
Learn Change and Adapt ?????
All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.
You need equity or cash to join this game
without neither you cant do it in 2019
My guess from the blog he is new and has little funds and no equity or he would have asked how to extract funds to build a BTL business
I find when I buy new property now I spend more of my own cash then ever before
I will not leverage up highly in 2019 I learned my lesson not to do so in the last crash
I we have a fall in prices leverage works against you
None of us saw a crash none of us saw S24 and none of us thought we could ever be in the Political Pickle we are in today
I would have never dreamed of possible rent control or the possibility i could be forced to sell what I own to a Tenant at a low price
as a professional Landlord I heed a lot of what I see and have seen
This is the very reason I have changed my way of buying property going forward
My simple plan is to pop in 25% deposit pay all costs Borrow on a five year fixed and gain a yield of 8%
If none of my bench marks are achieved I dont buy
any landlord coming to the market needs more skin in the game to play BTL
I have been effected by such large changes in the past and I have learned to look on the black side of every thing before I move
Train Hard ie have the cash in hand and when the time comes ie Fight Easy thats a good yeild
Ok so let's pick this apart. Why?
What is going to happen if the project goes wrong? There are two answers - you stump up the shortfall somehow in which case you do have assets for security. Or if the answer is the lender loses out then you are not looking for a lender but an investor.
Lenders require two methods of repayment - one when the project goes as intended and one when it goes all wrong.
Chartered Accountant, Tax Advisor and Mortgage broker
(and BTL portfolio owner)