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.
Universal Property Services Ltd
I think it all depends on where you're looking to invest in the UK (or elsewhere!).
In the SE (read inside the M25) prices are usually above the 125% - 145% rent coverage threshold (especially the latter) so you may end up having to put more than 25% in.
Then add in savage Stamp Duty and you're comfortably into putting £100K+ into the deal before you even see a penny back on a £350k+ purchase price.
No wonder everyones looking for cheapies up north, but it's not for me.
> No wonder everyones looking for cheapies up north, but it's not for me
Well not everyone, as I'm still buying inside the M25. Bought 6 residential units and a commercial unit in the past 2 years, and still buying more
You're right, each deal requires around £100k investment, but I'm still getting 6% cashflow from each unit so better invested than in the banks!
That is nothing for a Volvo...!
A good friend of mine started buying at the age of 17, he is now 85 and still looking for a deal. He called by the other day where I was working on a site, he came along on his stick at half speed.we had a little natter and I told him that there might be an opening on a property near by, off he went to see what he could find out. Half a hour later he was back, no longer at half speed and with no stick in hand. The thought of another deal had just knocked years off of him - his words, " If you don't want it i'll have it" I guess is not planning on retiring..!
5 is working for me, they net me £20k per annum less insurance/gas check/repairs, this gives me a steady income so i can do flips with my business partner which i enjoy and can make some decent money on.
i have about £10k equity in each, not capital growth but what ive spent on refurbishments, capital growth is non-existent, it takes a boom for prices to noticeably rise, last residential i owned from 1998 to 2008 i bought for £60k and sold for £160k, current residential is worth the same as we paid for it in 2008 as a demonstration, another boom would make me a millionaire
i looked recently at the numbers on increasing from 5 to 10, took the 5 cheapest houses on rightmove that id be happy buying on price and location on 75% ltv and it came out that £76k deposits would return me a further £20k per annum.
I think you have to turn the question around
How much wealth do I want to create and then work back from there
If you want a positive cash flow of £250,000 a year and each property produces £3600 a year each property worth 100k and you will have 7 Million in the pot
you will need around 70 properties
The Gift of BTL you can create your own dream to fit your needs
I find the key to my drive is I wanted to create a large Business to pass down to the Future Dyslexics
and it gets me out of bed in the morning and I enjoy doing what I do
If I did not do Business I would be a very sad lady some times I think I am fighting the world but its worth the fight
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.
"How much wealth do I want to create and then work back from there"
Thanks for sharing. My question is: Is gifting someone something actually good for them?
£250,000 a year !
My target was £20,000, though I am getting £25,000