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  • Buy-to-Let

    I'm in the process of buying my 6th BTL ...

    started in 2012, had a run, stopped a couple of years ago after getting to 5 to build up cash doing buy-refurb-sell, 3rd one going on the market on friday next week, time to go again on btl, looking at getting 3 over the next 2 years.

    i dont worry about legislation, i dont worry about tax, i dont worry about brexit, right now the numbers stack up

    im buying for £73k

    refurb prior to renting £2k

    fees and stamp duty £3k

    rent will be £500 pcm

    interest only mortgage payments will be £127 pcm

    for anyone wanting advice its simple, just do it, what the worst that can happen Wink

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    Congratulations Broose.  Whereabouts in the UK are your properties located?

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    im north east based v, my properties are ts6 ts10 ts11, with global warming in around 200 years the ts postcode will be the new french riviera and ill be rich Wink

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    Sound like youve got a plan! 

    Its easy to not worry about the risks you mentioned when your achieving high yields as the risk decreases.
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    indeed andrew, however im pretty risk adverse, i just see the simplicity in it

    i spent a lot of my working life contracting in construction, and learnt that if when tendering for work you consider everything you win nothing, sometimes youve just gotta take it on and see how it goes

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    I am also the just do it guy (backed with good safe figures) 

    I would enjoy hearing from someone who built a large portfolio on low yields based on the just do it philosophy as I feel it’s more like gambling than investing.

    Of course their are always risks but I feel they are more acceptable with higher margins.
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    having a large portfolio frightens the life out of me, ill stop before breaching double figures for my sanity

    ill go and pursue my interests and hobbies, digging holes, putting things in them, taking ceilings down, putting ceilings up, hunting water sources, and so on

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    ``having a large portfolio frightens the life out of me  ill stop before breaching double figures for my sanity``

    no you wont because you will grow with your portfolio . 

    10 is nice and round so a good number to aim for but then your mind wont stop

    entrepreneurs dont just shut down . they say they will of course - but secretly they dont

    this is how it will go

    12 - well you buy a dozen eggs so a dozen properties is good

    13 - no one stops at 13 because thats unlucky

    14 - boring and non descript so time to buy one more

    15 - any multiple of 5 has a nice ring to it

    16 - you can do stuff at 16 you cant do at 15

    18 - you can do stuff at 18 you cant do at 16 

    20 - multiple of 5 and 10 so double joy 

    21-  an important coming of age date - time to celebrate

    but even then you will come up with another excuse to buy again

    The gardening can wait a little while longer .

    The meadow look is quite fashionable  these days anyway



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    Jonathan Clarke. http://www.buytoletmk.com

    But at what figure does the income requirement get satisfied before moving onto the vanity stage?

    I know it's an unpopular statement, but I think getting what you need with as few as possible is the way forward for the individual and society. Look at everyone's favourite spokesman for the PRS, Fergus Wilson, basically controlled an area and could serve 100 S21's in a day to get his point across.

    I don't think it does us any favours.

    Building like DL and others are doing, that's a different story. No-one can complain about that. But hoarding an area as the Wilsons managed to do, not good!

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    I know it's an unpopular statement, but I think getting what you need with as few as possible is the way forward for the individual and society

    It may be unpopular, but its not said often enough! I have one rental property which is sufficient for my needs. I do plan, however, just one more investment for life's little luxuries and as a backup income/retirement fund.

    Unsurprisingly, I am not pressurised by constantly changing legislation and regulations or political and social opinion.

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    A good teacher must know the rules; a good pupil, the exceptions.

    Martin H. Fischer


    Vanity is a very  individual thing

    its a visual thing often - make up, flash cars, flash clothes

    fergus had his 1000 before social media ever got hold of him I`m guessing

    so walking down the street no one knew who he was so no evidence  of vanity

    Unless he felt the need to tell everyone he met who he was and how many he had

    He was driven to achieve yes and nothing wrong with that

    Macdonald`s try the same thing to make more money .

    Just business not vanity I reckon and we all got to eat

    Does Fergus come across well though  - not in my view -  but that`s just him

    should 1 person have that much control in this business - probably not

    should there be a law stopping him from issuing 1000 sec 21`s in a small area on the same day

    Yes probably

    Monopolies commission rules  do not  apply i guess to the PRS

    Not sure  i understand the less is more argument

    We are housing providers . We prevent homelessness

    Handled sensitively we are a positive force for good as a social service provider

    The council and housing associations and Barrett Homes are housing providers too

    Are they just vain or driven

    And many in the PRS do a better job than the council .

    The council can  hide behind the anonymity of the committee

    We as individuals can be shot down with ease if we transgress

    Its an image problem the PRS  have I agree but not because we are vain I suggest

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    Jonathan Clarke. http://www.buytoletmk.com