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  • In the Spotlight

    "Remote properties have been problematic" says landlord Angela Bryant

    I caught up with Angela Bryant, landlord and author, at the Property Investor Show recently.

    Angela has achieved her goal of 100 properties and one of the lessons learned is that investing closer to home is the way to go:






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    Very humble and down to earth interview by Angela.

    Well done on 100th Buy to Let purchase.
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    Saddat Abid
    Copywriter
    Property Saviour

    Thanks Saddat, I really appreciate your comment, it's very kind of you.

    It's hard not to be humble being me and the feeling only grows with age.

    A few years ago someone somehow persuaded me to give talks at property events. When people came up to me afterwards, they often said things like:
    "You've inspired me, because you seem so ordinary!"

    I suppose that's something:-)

    Thanks,

    Angela Smile
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    Author of The Complete Guide to Property Strategies and The Complete Guide to Property Investing Success
    Learn more at http://www.completepropertysuccess.co.uk

    I also post property updates on my Facebook Page

    "It is the small decisions you and I make every day that shape our destiny" Anthony Robbins

    Nice one Angela.
    No singing or shouting
    You just get on with it quietly and efficiently
    Buy one then another then another and so on...

    I like the way V asks you
    `Are you going to stop at 100`
    You answer
    ` Erm more or less yes`

    Ha ha .You don`t sound too sure :-)
    .
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    Jonathan Clarke. http://www.buytoletmk.com

    Thanks Jonathan, you're always kind to me Smile

    To be honest, I was a bit reluctant to mention it but I am buying a property in Cambridge as that's where my daughter lives. That's all I plan for now, is to buy strategically where each of my kids wants to settle, so one day I could possibly pay off the mortgages and pass the properties on to them if they need or want me to (which is another story as my daughter says "no!!")

    There's also some grey area (concerning how many properties we have) around business with my brother, which I tend to overlook as he deals with it:-)

    My brother & I just got planning permission yesterday, for two retail units on the ground floor of a big old pub, where we already have PP to create 10 residential flats - work starts soon! It's very exciting when I think about it...

    Thanks,

    Angela
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    Author of The Complete Guide to Property Strategies and The Complete Guide to Property Investing Success
    Learn more at http://www.completepropertysuccess.co.uk

    I also post property updates on my Facebook Page

    "It is the small decisions you and I make every day that shape our destiny" Anthony Robbins

    Well done Angela.

    You are a bit of a dark horse!! As JC says, you just get on and do it without a song and a dance and plastering your projects all over Facebook.

    Thank you for being down to earth, pragmatic, and sensible. We need more people like you to give a realistic view of successful property investing. Don't go changing!
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    Thanks Vanessa Blush
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    Author of The Complete Guide to Property Strategies and The Complete Guide to Property Investing Success
    Learn more at http://www.completepropertysuccess.co.uk

    I also post property updates on my Facebook Page

    "It is the small decisions you and I make every day that shape our destiny" Anthony Robbins

    Congratulations Angela! As a property professional, investing closer to home can be easier to begin with, especially if you have to visit the property several times a year. By investing closer to home, you can correctly maintain the property more efficiently than a remote property. Remote properties on the other hand shouldn't just be ignored as they can be a beneficial growth to your business even though they are 100 miles away.
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    Thanks VTUK,

    At least 80% of our non-locals do fine 80% of the time - the 80/20 principle applies I suppose! Probably the same ratios as for our local properties...

    As we do works ourselves locally and Dave is quite skilled at general handyman jobs as well as being firm with tenants, the main difference in cashflow between local and non-local properties arises when things go wrong - as locally we sort it ourselves but non-locally rely on others.

    The stark reality hits when I do our accounts at the end of the tax year, as I've just recently done. We've had some pretty bad local situations with poorly treated properties left in a right mess and similarly for one or two non-locals. However, when I look at the expenses column, even I'm amazed (still) at how little money it took to sort things locally on the whole, whereas non-locally it's a different story...

    I thought the non-locals were doing well until I came to one that got trashed, and the loss wiped out the positive cashflow from several others, as it was so expensive to pay others to sort it. I knew for a fact that many of those expenses would have been tiny to non-existent had the property been local.

    However, I should point out that most property investors I meet are not able to do such physical grind themselves, so this potential benefit of buying locally for most is not really a consideration...

    Of course, there is still the factor that you're more likely to have a good handle on the local market and can more easily keep an eye on works, but these elements are not insurmountable when buying non-locally.

    Another aspect which I believe needs addressing, is that it tends to be people in the south who are tempted (as I was) to buy up north, by lower entry prices and higher (so-called) yields, but capital appreciation in the south has certainly won out massively so far... Does anyone really expect that to change?

    I'm trying to sell a property in the Wirral that I bought in 2010 for £68k.. so far, the estate agent has shown some investors round who've offered £45k, £48k and £50k... Ouch!

    Locally, we're planning to sell one (Dave wants to as it's "too far" being in Reigate!) that will sell easily for £100k more than we paid - that was bought in 2008 for £150k. (By the way, it's MX so that will be interesting!)

    Cheers,

    Angela
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    Author of The Complete Guide to Property Strategies and The Complete Guide to Property Investing Success
    Learn more at http://www.completepropertysuccess.co.uk

    I also post property updates on my Facebook Page

    "It is the small decisions you and I make every day that shape our destiny" Anthony Robbins


    This has made me nervous now after reading this. My property in the south has been so simple to manage - only been 3 times in 6 years and never had a problem. Have just ventured into two BTL's about 4 hrs drive from me - I am in the south.

    Spoke to some good agents (based on reviews) and offering good management rates etc so hoping I do not have any issues. I may do a video call to screen clients agency recommends to me after viewing their paperwork - wonder if anyone has done that?

    For me yields of 9-11% in some north regions have been the attraction plus cheap prices under or around £100k. Short term 5-10 years or so I think capital growth and yields are excellent potential up there and some will do very well regardless of all this government red tape affecting BTL market.

    However, 10-20 years holding good properties in London and south will still beat everything - just my 2 cents.

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    This post was a very interesting read as nearly 4 years on little has changed.

    The 80/20 thought is interesting, and being hands-on when it comes to basic maintenance I think it helps a lot as you know the limits of the repair/upgrade needing doing vs. trusting someone to fix it properly/do the right thing.

    Unfortunately I feel too many distance investors are now driven by purchase price and supposed 'yield' which clouds their judgement. Leaves more properties in the SE for the local investors though!

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