greg ashall

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About greg ashall

  • Rank
    Established member
  • Birthday 02/21/1994

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Profile Information

  • Location
  • Areas I invest in
    North West
  • About me
    Age 24:
    My property strategy is to continue buying solid cashflowing properties which I can add value to.
    I self manage my properties and when possible help other investors who are looking to invest in my area.

  • Property investment interests
    BRR deals that cashflow
  • My skills
    Finding BRR deals in my local area of St Helens
  • My goals
    To have property portfolio that allows me to choose how I spend my time without worrying about my finances.
    Being in a strong position financially will allow me to be help others.
  • Interests outside property
    Travel as much as possible and rarely go to the same place twice.

Recent Profile Visitors

694 profile views
  1. How the economic machine works - Must Watch

    No problem Jordan! Following your journal with interest, nice to see a few of us younger people trying to build a portfolio and setting big goals. Good luck Greg
  2. Hi all, Rob has mentioned this a few times on the podcast and I agree it's well worth a watch! One thing I really took away from watching this was how secure does a portfolio need to be to stay afloat and the importance of not exposing yourself to much. I see a lot of people getting excited and talking about capital appreciation as one of the important things when they are searching the market but aside that being speculative if you don't have the cash flow to ride the wave then you might have picked a brilliant investment but couldn't stick around long enough to hold onto it. I have heard it echoed a few times that no one ever goes bust when they have cash and as long as you can stick around long enough you can ride out the tough times. In property, it seems those who can stick around are the most successful and by having a portfolio that is aimed at yield/appreciation you set yourself up best to be around the next cycle. Enjoy! Greg
  3. Hello from Chester

    Hi Shaun, Welcome to the hub. Have you set a timescale on quickly you want to achieve your goal? Good that you know what you know want you want from property. Have you thought about how you want to have your time managed when you achieve your goal? What type of investments gets you there and how hands off are they? Good luck Greg
  4. Sort of Newbie and happy to help!

    Hi Sheryl, Welcome to the Hub! Starting to see a few more local faces appear on the forum now which is nice, I'm from St Helens just down the road. You couldn't really ask for a better background of skills when it comes to starting property investment so I'm sure you can hit the ground running and make the most of your existing skillset. What's your motivation to start your own journey and most importantly what is your measurement of success? Greg
  5. MrMoore, I look in St Helens/Widnes/Warrington, bare in mind that I buy at 57k but these houses are worth about 80k done up and as FTB lose there heads if it requires more than some paint it makes it easier for me to get true BMV after a light refurb. I will add that that if you don't know the area then some of your fears will be reality, I have a few goldmines that I will keep buying in as I know the area and I have good tenants lined up to live there before completion such is the demand. 1). I agree that uplift is minimal but bare in mind that appreciation is speculative and the success of your portfolio is based on something you have no control over then can you ride the storm? Worth noting that with rising interest rates when your margin is squeezed can you guarantee that rents can keep increasing? That being said I think it's about balance. 2) The way I look at it is you can get problem tenants anywhere, and yeah I get statistics dictate that the chances you get an unreliable tenant are higher but this is were you spend a bit more time doing due DD and if the fundamentals are there then so are the people you want. I know my area perfect so I know whats got the good reputation and the demographics it attracts. Also worth adding on the deal I put the figures on, if the tenant pays only 3 months of they year my costs are covered - can you say that about the shiny high end properties? 3) The houses need a bit of love but never more than 5k - however once you have done your refurb then you should get a few years with only light maintenance if any. With my tenants I spend money on making it a nicer more desirable home for them which results in a higher valuation when I extract cash so actually by spending money it could be considered a good thing on that basis? Not to mention if you give someone a goood home and look after them the chances of them looking after your home increase. I understand your sceptism though as you see these 40k shoesboxes with incedible yields and even bigger headaches so you have to be careful. Greg
  6. My net yield would take into account the purchase price + renovation costs. I would view the 16% as an ROI not yield as that is my spend vs returns therefore a return on investment. Every seems to have their own adjustments but in my opinion yield is against the value of the investment and ROI is your return against your set up costs. Greg
  7. Hi all, I am based in the North West and tend to focus on very specific streets to add to my portfolio as it has all the fundamentals i'm looking for, it has has a pretty good owner-occupier ratio and is a catchment area for the best local schools. So i'm able to buy at a good price but also appeal to good tenants, I appreciate this doesn't spread my investments around which will likely affect long term capital appreciation however I tend to buy properties that just need that little bit to much work to put off FTB which really helps the asking price. From buying low and adding value then I have made my own capital appreciation and not reliant on factors i can't control. Below is an example of my last purchase £14.25k Deposit (57k Purchase) £5k Renovation £1k Legals/Survey £1.7k Stamp Duty ----- £21.95k Monthly financials £450 Rent £83 Mortgage £15 Insurance £45 Maintenace pot ---- +£304 Net Yield - 5.94% I plan on re-financing this deal at the end of the 2 year fix which would result in £17.25k release which alone would result in a annual 39.29% ROI - If you want to add the rental profit then at the end of year it's all money out + profit. I think ultimately It's down to what your strategy is and research reseach research, my goals are to build up solid cashflowing investments that attract good tenants and are stable. I'm not fixed on a specific tenant profile as i don't want to narrow my options, as long as they can provide a reference and have the finances to support then i'll go with my gut feeling on them. If your very specific on who/what you want they you will likely find it either doesn't exist or you can't make it work. Thought I'd put this out there to offer some perspective P.S I agree with Stephane about Yield vs BMV - Yield you can control, appeciation you can't. Greg
  8. Age 22 - Beginner - KEEN!

    Hi Simon, I'm a similar age to yourself and the way I started was getting my own home to live in and rent out the spare rooms. I used every penny possible on adding true value and when possible making overpayments to get me towards the 75% LTV. From here I have snowballed any profit with my savings and this has allowed me to buy quicker each time, worth adding that following BRR has been a massive help as I was able to extract your money. Do what you can to increase your income and be frugal with your outgoings, only a couple a years ago I was in the same position as yourself. Keep going as the first couple are the hardest. Greg
  9. Has your area recovered to 2007/08 levels?

    My mystical powers sensed the podcast Darren Hopefully they are as timely during the property cycle! Well things look good as we are doing buisness in areas that others are fearful, so fingers crossed mate. I think how well we time our transactions will be HUGE in the next 5-10 years and will determine our success, what will help us is setting up on a cash is king model so when things get a little rough we can ride it out. Greg
  10. Student Housing

    - How easy they can get to their studies? - Is it local to other students? - Bills included? - Can you get to other attractions easily? (Student bars/cafes - Supermarkets) - Furnished (Double Bed- Social area) I haven't mentioned price because students lead with their heart not their head so generally they will go for the nice and shiny however this is area dependent. Hope this helps.
  11. Hi, Most areas of the country have now recovered back to their levels just before the crash with some areas kicking on to all time highs. I invest in St Helens and 75% of it is still below it's peak levels 11 years ago with many quite a way off. I'd be interested to hear others opinions who find themselves in a similar boat to myself and what they believe the future might bring in terms of growth for them. All of my properties have been bought significantly below the 2007/08 levels, the most recent investment was a 57k purchase on which the previous sale price was in 2003 for 59.75k. - Next door to this house during 2007 sold for 85k - About 15m away there was a sale for 92k - A few doors away from the 92k was the streets highest purchase for 104,950 Based on historical averages and growth these properties should start moving in the next few years but I find it interesting that there is no natural growth occurred at all. I appreciate that the market was far too hot and beyond any logic however the street is quite desirable and has brilliant school/transport links and a perfect starter home. I feel like growth has to happen soon and would be interested to hear peoples views and if you have any investments in areas similar. P.S I don't invest for capital appreciation that's a bonus all my investments are aimed at strong cashflow Thanks Greg
  12. Career in Property Sourcing

    Hi Fez, I personally can't comment on building up a portfolio via property sourcing as I went down a different route however my advice would be to get to know your local area really really well. If you can get to know your area really well and know all the good streets and what you should buy and what you shouldn't that is value and with that you can look to generate an income. You can then look to get involved with these properties by selling them on to other investors or even manage them? If you find something at a great price and the figures add up then an investor will want to get on board in some capacity. If you are offering something that stacks up and will make someone money then you shouldn't have much of a problem passing it on. By making yourself investable you will can get into property without using your own funds and beter still, if you have all this knowledge when you are in a position to buy then you should hit the ground running and save a lot of money by avoiding pitfalls. I'm getting sick of agreeing with Darren however he does make a good point of why do people sell the courses if they are doing so well? My advice is to master you're own area and learn everything you can about it and then that's where you make your money. Further to this rub shoulders with people who have done it before and can show you how to replicate it to become successful, you will probably find that at most many will just ask you to cover their time if it's intensive. Maybe suggest 30 minutes once a month and go from there? Hope this helps Greg
  13. Landlord Ratings?

    For students Sam this might work to a degree (See what I did there ) however landlords will ask for a guarantor for students so would they be interested in a student review service? My opinion no. I do think your idea has legs however I think taking it into a different direction personally, how about a service in which paying your rent on time helps your credit file or obtaining credit? I'll expect my share later Sam Greg
  14. Landlord Ratings?

    Have you had tenants before Sam?