• The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success
  1. Join 40,000+ entrepreneurs
    who are kicking butt and
    winning their dream life.

    Unscripted™ Entrepreneurship:
    A Business That Pays More Than Money, It Pays Time.

    "Fastlane" is an entrepreneur discussion forum based on The Unscripted Entrepreneurial Framework (TUNEF) outlined in the two best-selling books by MJ DeMarco (The Millionaire Fastlane and UNSCRIPTED™). From multimillionaires to digital nomads, the forum features real entrepreneurs creating real businesses.

    Download (Unscripted) Download (Millionaire Fastlane)  Register
    Registering for the forum removes this block!

FORUM SEARCH

Get answers about starting a business from real entrepreneurs. Powered by Google.

Any RE investors in the UK? I need some advice...

Discussion in 'Real Estate Investing' started by Sanj Modha, Apr 11, 2018.

  1. Sanj Modha
    Offline

    Sanj Modha Gold Contributor Speedway Pass

    Messages:
    564
    Likes Received:
    1,719
    Joined:
    Feb 16, 2016
    Gender:
    Male
    Rep Bank:
    $11,563
    Hey FLF!

    @Andy Black suggested that I post here after a chat we had.

    Basically, I own a 3 bedroom, 2 bathroom townhouse in the UK and it's fully paid up (no mortgage). I'm thinking about releasing some equity to fund an investment property (or 2) but I have no idea how to do it or where to invest.

    I'm not sure about the tax status either since I no longer live in the UK and there's the looming threat of Brexit to factor in too.

    Does anyone have any tips, suggestions or can you point me in the right direction? I am a noob at this but I'm not a afraid to get my hands dirty.

    Thanks.

    Sanj.
     
    Nicoknowsbest, Tommo and Andy Black like this.
  2. Kingsta
    Offline

    Kingsta Contributor

    Messages:
    65
    Likes Received:
    99
    Joined:
    Dec 6, 2014
    Gender:
    Male
    Rep Bank:
    $537
    Hey Sanj,

    I may be able to help you out since I helped setup a distressed asset property company in London.

    The main thing it comes down to is how much do you want to invest? From that point I can give you an idea of where to look. If this is something you'd rather talk about in private feel free to message me.
     
    Sanj Modha likes this.
  3. Sanj Modha
    Offline

    Sanj Modha Gold Contributor Speedway Pass

    Messages:
    564
    Likes Received:
    1,719
    Joined:
    Feb 16, 2016
    Gender:
    Male
    Rep Bank:
    $11,563
    Thanks buddy. I've sent you a PM.
     
  4. Andy Black
    Offline

    Andy Black Any colour, as long as it's red. Staff Member Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

    Messages:
    6,028
    Likes Received:
    25,362
    Joined:
    May 20, 2014
    Gender:
    Male
    Location:
    Ireland
    Rep Bank:
    $144,973
    Hmmm. I’m out of the loop too as I’ve lived in Ireland for the past 15 years or so.

    Here’s what I’d do:

    Figure out what an average young couple’s combined salary might be.

    What would two teachers earn? Two nurses? Etc

    Let’s say 30k each? (I’ve no idea!!)

    What mortgage can a young couple afford when the combined income is 60k ?

    What deposit do they need?

    Add those together and that’s the max they can pay for a two bed terraced house.

    What would their monthly mortgage payment be?

    Now go onto RightMove.co.uk and look for two bed terraced properties for sale for that price and under.

    Where in the country are they?

    If lots turn up in, say, Liverpool then work out the areas that keep appearing, and look for rental prices of the same two bed terraces.

    Work out what an investor would pay for the property too. If they put down 20%, then what would their mortgage be? What would their interest payments be?

    What would an amateur landlord pay? (Someone who doesn’t account for letting agent fees, void months, wear and tear, even income tax!)

    Could there be bidding wars between house buyers and amateur landlords? What could the prices be driven up to?

    If you can buy below that value, and the rent covers the mortgage (plus extra for all those things I listed)... then you might buy somewhere that prices can rise higher “naturally”, without you doing any additional work (like buying cheaper due to distressed sellers, or fixing them up and adding value that way).
     
    Sanj Modha likes this.