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  • New Members

    Hi from SE London - looking to grow portfolio

    Hi all

    Been following Tribes for about a year now and only signed up today (although have been a Property Hub member for a while). Great content and work from all the members, especially like the Tribes about dodgy sources and trainers, particularly the ones that get busted!

    About me: Born and bred in Sydney, Australia, decided to relocate with the wife back in 2008. As we both work in Financial Services, probably wasn't the best time to come, but given that we've survived through that period, we can pretty much take on anything now! Now settled as British citizens with a toddler, looking to continue to build our wealth with an aim to retire early (15-20 years when we're 50-55) and leave a legacy for our daughter.

    BTL History: We owned a flat in Sydney that we rented out when we moved over here. After renting for a few years here, we decided to purchase a 2-bed flat in East London near Canary Wharf. Took some equity from that and turned it to a BTL mortgage in addition to selling the Sydney flat (which had doubled in price) to purchase our current family home in SE London (near Greenwich) last year.

    Current goals: I am currently in the process of purchasing a 2nd BTL via a limited company (as higher tax rate) up in Crewe. Received the survey back today and although structurally sound and value in line with my offer, there were some potential issues with damp, so some further investigations will be required.

    Based on our objectives, will look to build more properties to buy and hold throughout the UK, with the funds to be kept and recycled within the limited company as we're fortunate enough not to require the income at this stage.

    Will also continue to invest in other assets outside property either via other savings or pensions (I'm a self-employed analyst), whilst trying to raise a toddler and travel/enjoy life.

    Other: Enjoy reading books (mostly property, entrepreneur or mindset topics - currently reading 'Black Box Thinking'Wink, playing with spreadsheets, travelling (especially back to Oz to visit family/friends), and sports.

    Look forward to contributing more where possible, although my BTL experience, especially in the UK, is quite limited!

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    Happy To Have a chat whenever you are ready PM me any time

    Barry

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    Thanks Barry! I'm still on probation here so can't PM other members until after my 10th post. Smile

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    Hi Derek,

    A warm welcome to the tribe and thank you for the introduction. Smile

    The purpose of this forum is open and transparent communication, so we always remind new members to host the conversation here as it benefits the entire community, rather than taking it to private messaging.  This is for the safety and security of all members.

    Well done for what you have achieved so far.

    With regards to solving damp and mould, I am not sure if you have seen this new, inexpensive way:

    Cheap solution for eradicating damp and mould 

    Based on your intro, these other resources may be of interest to you:

    Growing a property portfolio - resources

    The Property Tribes Essential Book and Reading List 

    ​Hope those assist the learning curve for starters?

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    Thanks Vanessa. You and Nick have a great, informative site. It's been very helpful and an eye opener. I also found my accountants, Rita 4 Rent, through here.

    I did do a search on "damp" and saw that, and many other, threads. So good to know it's not an unusual issue, especially in the UK. I've watched plenty of slum landlord shows to highlight what not to do.

    Thanks for the book recommendations thread. I was slowly running towards the end of my current list so look forward to adding a few more from that list which I haven't read yet.

    Keep up the great work, including the informative videos.

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