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  • Buy-to-Let

    BTL Up north - what would people recommend

    Hi Oscar

    Firstly great attitude wanting to get involved in property straight out of uni, the sooner you start the sooner you achieve your goals!

    A few points for considerations;

    • How have you got to the 20% ROI? is that just yield or also growth? As a first time investor that is looking to grow an asset base, I'd encourage you to start simple and focus on growth rather than income. This is because it's very difficult to build income through income, in fact, the only way is to invest more cash so that's a slow way of building a portfolio. Wheras if your investment grows in value, you'll be able to remortgage, release equity and go again sooner.
    • If you buy through a limited company with your father and your father has property already and sufficient income, you could get a mortgage relatively easily and then tae over his shares in the future, this would also likely improve your ability for a mortgage and the mortgage amount.
    • Is your budget 40-70k purchase price or cash invested? If cash invested then I'd steer you more toward bigger central areas of cities like Manchester, Birmingham & Liverpool. But if total purchase price, you may be priced and out have to go to some cheaper areas.

    As you are just getting started, here is some educational resources that might help, I'd recommend our video resources where we have over 100 hours of educational video;

    https://nova.financial/nova-tv

    and my recently published book which is now an International Amazon #1 best-seller. It's called The Property Pension Plan, Financial Freedom Through Buy to Let Investing, it may be of interest and you can get it here for FREE;

    https://www.thepropertypensionplan.com/free-book

    I hope this is helpful and I'm happy to answer any further questions.

    Nova Financial Group is my business and we assist clients with the following;

    • Goal Setting
    • Strategy
    • Implementation (sourcing inc research and due diligence)
    • Finance
    • Management
    • Portfolio Building

    I can be contacted directly on pm@nova.financial or call our office on 0203 8000 600. You can learn more about us here; https://www.nova.financial

    I look forward to hearing from you.

    Kind Regards,

    Paul Mahoney

    Founder & Managing Director

    Nova Financial Group

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    Thank you for your response, I will shoot you over a PM tomorrow

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    I would start with a house for yourself and rent rooms if possible because

    - better mortgage terms
    - govt subsidy etc and deposit incentives may be available
    - rent from rooms will be tax free for the first 8k, which will be at least double rent -tax at that investment.

    ML
    -
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    that would mean I would need a 3 bedroom house and they are impossible to get in London. Plus it will take me longer to build the capital to do so, plus I need a bigger income etc etc

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    I'm in the same position as you. I want to get on the property ladder as an investor but not for the purpose of income. I'm aiming for growth. For income, I'm looking to secure the best possible pay in a job and then set up a business or two at the same time. It will be a graft but I'm well up for it! I reckon making money from a business is the quickest way to make more money compared to investing in properties.

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