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What would you do with £40K?

buy refurb refinance Jun 10, 2021

THE QUESTION

As a first time property developer and with just 40k to invest, what would you do? Use the 40k as a deposit on a house or use the money to buy a much smaller, cheaper property outright? I see that there are some properties in certain parts of the UK that appear to sell at auction for circa £30k although I'm guessing these are incredibly cheap for a reason! Which option would...

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5 tips for the new property investor

ninja learning May 25, 2021

When you’re starting out in property investment there are lots of things that may influence you.

  • You may have friends or family who are already in property, so you’ve got some experience to call upon.
  • You may be surrounded by people who see property as a risky thing to do and will keep trying to stop you.
  • You might just have heard about people making a killing in property and got...
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How to fund a development

development finance May 10, 2021

THE QUESTION

Having been offered a plot of land suitable for building four houses, what’s the best way to fund another development?

THE ANSWER

Funding new build developments is simple, you use a development finance lender to lend you 100% of the build cost and then you get creative on how you finance the purchase.

If you have a chunk of cash yourself for the deposit then the development...

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Have you got the Millionaire Mind-set?

ninja learning Apr 24, 2021

One of the essentials of building a successful property career is having the right mind-set.  Lots of people like the idea of property as a means of generating residual income, but every property meeting has at least as many people who are ‘getting into property’ as those who are already in possession of at least one property or have already started the buying and selling...

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How equity is calculated to raise finance

buy to let Apr 09, 2021

THE QUESTION

I have a BTL property that is worth £325k and has a mortgage of £227k. I was recently trying to raise finance to purchase another property and wanted to see if I could release some equity from this BTL to raise the equity.  

My lender asked me how much rent I charge (£1150 pcm) and said I wasn’t able to get any equity.  I asked how much the rent...

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5 top strategies to purchase a property at auction

ninja learning Mar 25, 2021

If you’ve watched Homes under the Hammer, it can be tempting to set off for the auction room determined to snap up an absolute bargain.  However, real life is not much like you see it on TV!

To avoid ending up with a white elephant here are my top strategies for sourcing your property investments at auction.

1: Do your research first

Not just the day before, but well in advance....

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Finance for a Buy-to-Let deposit

buy to let Mar 10, 2021

THE QUESTION

Can you use a business bank loan as mortgage deposit on a BTL purchase?

THE ANSWER

It’s a simple question that invokes a less than simple answer. The key issue is transparency between borrower and lender. If you engage in any type of misrepresentation of the true source of the deposit and you will stray into the area of mortgage fraud. This can be defined as follows:

...

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Due diligence isn’t an option

due diligence Feb 25, 2021

Buying a property requires you to make informed decisions - that means you need data to work with.  And here lies the challenge for most investors.  They get excited about refurbs, increasing the value and finding tenants, but doing the research prior to purchase can be hard graft.

In a perfect world you should know:

  • The market value - what other similar properties in that road or...
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How to fast track your BTL portfolio

buy to let Feb 10, 2021

 THE QUESTION

My husband and I own our own property and now we would like to purchase a buy to let property in the area we live.  We would like to purchase more properties in future, maybe between 5-10. 

Is there a way to fund your next property using the first one you’ve purchased or is it best to wait until you have the deposit for a second? 

THE ANSWER

You face the...

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BRR!

buy refurb refinance Jan 25, 2021

BRR!

That’s not a comment on the weather - it’s the acronym for Buy, Refurbish, Refinance.  It’s the hot topic in property.  

The concept is to buy a property that needs doing up at a relatively low price, refurbish it - probably a new kitchen and bathroom and maybe a coat of paint throughout - and then refinance at the uplifted value.

The challenge for most...

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