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  • Property-a-holics

    You’re scaring me!



    Good day all,

    I have been planning my property venture for the last year and I hope to be in position to invest in the next 6-12 months. But I must admit I'm getting cold feet. 

    I guess my question is would you if you were 20-something again - would you take the plunge into property or has the plug been well and truly pulled. 

    My initial strategy was BRR but I'm not seeing the value - I plan to adopt a flip strategy now with a view to building a pot to buy unleveraged or at least with minimal leverage. With your knowledge now would you invest in property at this time or would you look for other ventures? Would you even sit it out for a few year, are we mid-cycle wobble?

    I have a background in construction and property makes me buzz - I guess I just want to know can I still make it work. Initially, all this talk about selling up got me excited but then It occurred to me I want to target LL because I don't think FTB would even be interested in the properties I want to renovate.

    Thanks so much - this website is great even if it’s a little gloomy (no disrespect) presently.

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    Eleven, do you own your own house? If not, if you are to adopt a flipping approach using the houses as you PPOR (tax free) then I'd say yes go for it.

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    Experienced Landlord's are looking for properties to renovate (add value) and rent out, building in the equity and yield into the investment.
    So if  your target end market is the Landlords that go out looking for premium properties - new build, etc.. I'm not sure on the demand in the market of that endeavor.

    First Time Buyers like established homes with little work. Landlords I think in general look towards the diamonds in the rough.

    To answer your question though - as a 20-something I would get into being a landlord absolutely.
    What your talking about is getting into property trading though, not something I would do given have a day job. Its more of a hands-on area of property sector.

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    _________________________________________________________________________


    The above post is not financial advice, its often me rambling - passing time on a coffee break.
    If you are looking for the Best BTL Mortgage? Call the Specialist Team at Bespoke Finance.


    _________________________________________________________________________


    Thanks Adam.

    My initial thought was to Buy Refurbish Refinance with a view to snowballing my property portfolio. I'm concerned now with S.24 that's leveraging just isn't the way to go.

    I was hoping I could property trade as a way to offset the leverage - if that makes sense.

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    I don't own my own home - I rent privately.

    Due to circumstances, my daughter is severely disabled (my partner is her full time carer) so we couldn't afford to buy in the area we live currently or the size of the house.

    We really have no intention of moving for the foreseeable future, unless forced too.  

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    Forget any idea of being a LL.

    Your unfortunate domestic circumstances prevent you from any LL aspirations.

    You are the reason S24 was introduced.

    Apparently you were supposed to be prevented by LL from buying.

    If you aren't prepared to MOVE to a cheaper area to be able to buy your own home then a LL you will NEVER be.


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    thanks Paul not sure if this is pessimism or the frank reality, but I take on board what you say.  

    Weirdly I have never had any intention to own my own home. I do though, have every intention of making my money work for me - one way or another.

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    Hi Eleven and welcome.

    I don't think there is any gloom here - just realism!  There is opportunity in every circumstance, and property is no different.

    The game has changed dramatically, so those of us already involved have had to learn to adapt, but that is all part of being in business.

    These recent threads shares some thoughts ...

    Is BTL dead or am I just late to the party?

    Being positive about BTL long term

    Property - is there anything better?

    Long term landlord: forecast to be profitable 

    A final thought: The only time that any of us can take any action is NOW!  You can't go back in time and buy property and you can't go forward into the future and buy it.

    NOW is all any of us have to make a difference to our future.

    The only reason that someone can sit in the shade today is because someone planted a tree 40 years ago.

    10 things guaranteed in property investment

    Hope that helps for starters and good luck!

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    I didn't buy my first property until I was 30 and lost 25k on it. That put me off investing in property so I didn't start until I was 54. I should probably have start 10-15 years earlier, when it appears to have been at its easiest.

    I say  go for it but have an exit plan. I started by buying properties for cash and refurbishing them. My exit plan was to sell, relying on the refurbishment to at least cover my costs.


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    Thanks Peter. This is the way I think I am going - I am fortunate enough where I can realistically do this along with my full time job. I don't want to keep hold of anything for to long.

    I am just concerned at what price range do I go into the market at. Terraces in the areas I'm looking at range from 40-60k, there are bargains to be had but the profit margins are slimmer. Whereas 3 bed semis tend to go for 90k+ but if I can get BMV on this I stand to gain more in profit but with more money tied up. 

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    @Peter, probably you lost 25k on your first adventure because you weren't prepared enough for the push?

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