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  • Wanted & Recommendations

    Financial advisors

    I would tend to agree with Derek.

    HMO are a specialist form of BTL. However many HMO properties would make poor BTL's and vice versa. When looking at converting property you want to minimise expenditure and so the scale of conversion should be similarly limited - you don't want to knock it down and start again. Now I am sure some will disagree but I suspect that will be the exception not the rule.

    However I like the strategy. Start with lower risk BTL's and then move with some experience under your belt to higher yielding and higher risk HMO's.

    If you are looking to replace your income in 2 - 3 years then you must be looking at property well North of London/SE so that the yields are higher (or you will need to have very very deep pockets!). My advice is like any investment, understand the risks as well as you can. This means invest locally.

    The question I think you need to ask yourself (if you have not already) is how to you make the capital work best for you. The bigger the mortgage usually means a better % return (and more property) but the interest does depress profits (and hits tax!).

    As is usual I will finish by reminding you that with s24 the tax may be far worse that your current position and needs some planning to ensure you have the right long term solution.

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    Chartered Accountant, Tax Advisor and Mortgage broker

    (and BTL portfolio owner)

    stuart@johnsonsca.com

    02039077022


    So, I'd like to speak with a BTL / HMO specialist financial adviser for further guidance on how to make my money work the best, covering tax and refinancing etc, etc. 

    This is more niche than an Independent Financial Advisor who give more general advice on your finances, what you really need here are two specialists - a mortgage broker and a chartered accountant.

    Think of an IFA as a GP, and the other two as specialist surgeons.

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    IFA are limited

    I always say they make money for folk with money

    they have there place in taxation and building a nest egg

    but you have to have the money to start with and that’s where BTL comes in

    your right IFA is a GP

    and the landlord is there own specialist

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    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.