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Thank you for your question. The new changes make it crucial that you buy buy to lets with superb yield. Then all costs plus any tax impact is covered. If you earn less than the 40% threshold with the properties added in then the impact is zero anyway. If the changes take you into being a 40% tax payer and you are not going to be Ltd company then you have to have superb yield. Too many investors buy properties that do not have that yield built in.
You want asset growth and cash flow in any investment. We have a tax pack (a set of 12 videos that cover the tax changes). We normally sell it for £97 but if you would like a copy of it for free email email@example.com and mention that I offered it and it should explain this in far more detail to understand how the releases of equity are far more than the extra tax you may need to pay.
Sorry for one last post but just to reply to the question where George asked who else would be recommended to buy properties in the North of England.
With over ten years trading and having helped over 1000 purchases take place we are really confident that we will deliver the best returns over time. As Vanessa openly said Property Tribes have a relationship with Assetz and so she recommended looking at what they offer.
To help anyone reading this thread and trying to work out where is the best place to go.I would personally always recommend to buy 3-4 bedroom houses rather than flats or apartments. After years in the industry the houses have always out performed flats or apartments. Issues you can get with flats are:
1. Transiency. someone in a one bed meets someone in a two bed and falls in love and wants to move somewhere else together. Someone in a two bed has a second child and wants a three bed. So you get far less transiency in a 3-4 bedroom house. An average tenant change is £1500 by the time you pay letting agent ,tidy up, void period. Our average tenancies are over five years.
2. Service charges - you have to pay for the communal area and for someone to manage it. IN my early years personally I bought flats and the service charge is as much on a 2 bed flat normally as the same budget for inside and outside a 3-4 bedroom family let property. Then you have your internal maintenance to pay on top for the flat/apartment
3. Danger of too many landlords - if too much of a block is sold to landlords, the communal area is not so well looked after as its all tenants (and none of them have to pay the service charge) and more critically your rental demand can drop dramatically. 20 new build flats hitting the market at the same time.
These are my personal shares. My business could make a lot of money telling investor that flats/apartments are great buys. I get offered a portfolio of flats every week at discount that I could sell on and make money from. But I wont provide any client with any property I would not be happy to add to my own portfolio. And I would not add flats.
Whoever you are thinking of working with - check their rules, check the buying strategy. Check what they reject and what they buy for their clients.
And then choose according to what fits best and makes most sense to you.Lastly ask to speak to current clients (not just their two best friends but ask for a long list of happy clients to choose from), visit their offices and check their team speak the same language and are congruent with what any marketing or sales team is telling you.
Please let me be clear that I am not knocking any other company that has been mentioned on the threads as I don't know enough about them to tell you one way or the other. We know the number of clients who come to us having tried others versus the other way around. I have always said that for some people - learning and doing it themselves is the best way to go. For many others having it done for them so they can focus on what they consider more important is the best way and then choosing the right partner becomes the important step..
Investment with knowledge. Invest with confidence. Create financial freedom
See my comments here.