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Hi everyone at PT hope you are well,
I have been quietly watching from the shadows for a little and then joined but have only made a few small comments so far, but would like to thank all at PT for all the free info you guys give have picked up on a lot of things from reading all the tribes.
A little about me I am 35 living in London, been down here since 2011. Originally from Sunderland in the northeast, I currently own 2 properties, 1 in Sunderland which I bought in 2016. I'm also about to finish a full refurbishment of a property I bought in south shields around 6 months ago.
The Sunderland property I feel was a little bit of a mistake as it is a 1bed and has been rather hard to rent, but have a new tenant moving in 7th of June so that is great. Was my first flat and was a great learning exp makes very little money but the experience's I have learned from it make it worthwhile. If and when this new tenant moves out this flat will be getting converted into a 2 bed and have a refit new kitchen so will open it up to a much larger rental market.
The south shields property is a 2 bedroom ground floor Tyneside flat, it was in an ok state when I but would have rented as a bog standard rental but that is not how i do things. So have pretty much redone the hole house.
I feel like it is going to make a great home for someone to rent from me.
I also live off the premise that if I nor my parents would not live their why should I expect anyone to pay me to. so everything is done to a high quality and if and when things crop up they are fixed asap.
Hi MC, and congrats on moving forwards.Every day is a school day in property! Learning on the job can be risky, but there is no "win or lose" if you "win and learn"!In hindsight, what would you have done differently, do you think?Also , will you continue with flats, or perhaps try a house next time?
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
yup every day is a school day, If i was to redo it again I 100% would not have bought that first 1 bed flat and looked for a 2bed at a minimum, the reason for this was it was one of the few properties that was in my price range at the time Mistake number 2 rushing into a deal.
The second property is pretty perfect for me tho so learned a hell of a lot from the first one.
I set out with the aim to do a little more with each property i buy learn a little at a time so the first was a repaint through out carpets new bathroom that was it tbh did not really need a lot doing to it.For the future the area iam buying is is mostly tyneside flats so will be them for a few more, then will start to look into other means be it houses or HMOs my long term goal is doing developments land purchase and builds from the ground up long way off i think for the time being but Goals are their to challenge us .
Hi Im a fellow NE Landlord
look forward to seeing your posts
All the best
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.
Thanx you DL
I have a read a hell of a lot of you posts thank you for the intel
Is that a Guards Badge I see ??
If not a Royal Connection ?
That is correct DL good eye,
I am currently serving in the Coldstream Guards. Hence why iam down in london atm
I was in the Light Division (Rifles ) long ago in another life
Met some really nice Guards Officers Cadets at RMAS
We did PD in London all under the instruction of the Guards
so you where Durham light inf? before it changed?
nice to see another squaddie on the mist
DLI was before my time
I was Light Infantry
Property can be a good investment for servicemen so stick with it
Its good to have behind you when you finish your time
thats my hope, i know plenty of people who have got out after full service and have nothing to show for it other then a wife and kids... no savings nothing and that is not happening to me