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Well its about time I said hello.
My name is Alex, I'm 25 from Folkestone, Kent. I've been a member since February and heavily browsing since the end of last year.I own a place with my partner and have some cash from profit of my first flat. I bought my current house with my partner last month and I planned to go into BTL with the profit of selling my last property. Unfortunately I didn't walk away with as much as I planned (due to a hefty lease extension bill) so I have adjusted my strategy. I now plan to undertake Rent 2 Rent for a little while, My thoughts on changing to this strategy is that it will help with short term cash flow to build up the deposit for BTL and it will also give me time to see what the market does over the next couple of years.
I have a full time job as a manager for an Asbestos consultancy company on a nuclear Powerstation, so after seeing very positive reviews on Mark Barrett at Riverview I made contact and have set up a company in preparation for my strategy.
So I'll be posting a few questions going forward and keeping an eager eye on the forum. Its a great platform for people like myself to learn. I look forward to our conversations and hopefully meeting some of you.
All the best,
Welcome. I look forward to reading your posts and development.
It has as asbestos consultancy because there is a fair amount of asbestos on it!
Just adding my welcome. Thanks for the introduction and glad you are enjoying the PT experience. I will confess I am not a fan of Rent to Rent. A properly set up R2R house will likely run in negative cash flow for the first year, not to mention new HMO legislation will impact negatively.R2R is one of those things that sounds great in theory, but the reality can often turn out to be rather different. The margins are pretty slim imho and one void room and you will likely be in negative cashflow. R2R is a great money spinner for the trainers who promote it, but I hear very few authentic success stories.I hope you do not mind this feedback? It is given in the spirit of assisting your way forwards.
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**
I welcome and value your feedback. In your opinion, would R2SA be any better? Demand and DD willing of course.
With regards to courses, I feel at a bit of a stumbling block and that further education is my next action. Are there any you can recommend?
you seem to be completely missing Vanessa’s point....
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"YOU WILL NEVER BE A LANDLORD"
That's the spirit paul.
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LL need to learn about RGI and the eviction process before even thinking of investing!
What a welcome. You sound like a lovely chap.
No money wasted. No courses done either and if people are suggesting its not worth it then great, I'll take that and learn from it. Everyone has to start somewhere and asking questions is only going to help with the learning.