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About Sween

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    Solihull, Birmingham
  1. Is it too late?

    Hi Mark Thank you very much - Eccles looks good, with a bit of negotiation down from list prices it looks like 10% Gross Yields could be achievable. I've already sent a few emails on some specific properties. M6 & M7 look like they have very attractive yields - are these areas I should be avoiding? Thanks again for your help! Jack
  2. Is it too late?

    Hi Silvio I have been mainly looking around the suburbs of South West B'ham - Harborne B17, Quinton B32, Selly Oak B29, Kings Norton B38 etc. Great fundamentals and I believe the 'Birmingham Big City Plan' will prove lucrative over the long term. I then started to look across more northern cities - Machester (mainly Salford area), Leeds City Centre etc. but am coming up against similar numbers. I am more than happy to invest pretty much anywhere in the UK as I will run the portfolio through a management agent. Any guidance would be much appreciated Thanks Jack
  3. Hi all I have been waiting 2/3 years to buy my first BTL, saving all the cash I can and learning as much as possible along the way (I have a progress journal on the forum if anyone's interested!). I am finally in position to purchase a sub £100k property which feels/felt great.... until I started to view properties and run the numbers! Before I started to research seriously I had a 10% ROI target in my head - half decent area, potential for some capital growth, good fundamentals... Everything I have seen so far (mainly flats / maisonettes), either in person or through right move just doesn't stack up financially. Most things I am seeing are returning a Gross Yield of 7-8%, which after all costs only deliver an ROI of 3-4% - and that's before Ltd costs and tax. I have looked locally across the West Mids (SW B'ham in particular), and on Rightmove/Zoopla in Manchester / Leeds / Leicester etc. to name a few but cannot find anything that seems to stack up. I will continue to search and hopefully find an area/property that meets my criteria, but I have to ask myself are my initial expectations just too high in the current climate? Are all the recent government changes + the 'boom' of BTL diminishing potential returns? I really want to invest in property, I've had my heart set on it for years, but I can't help but feel my money could work harder elsewhere at the moment. I would really appreciate people's thoughts on this - hopefully I'm just doing something drastically wrong Thanks Jack
  4. LTD Accountants / Advice

    Thanks for all your help, I have booked meetings with 2 local firms next week to discuss further Jack
  5. LTD Accountants / Advice

    Hi Thanks for your advice! Do you know what I should be paying for a small property Ltd roughly? Thanks
  6. Stamp Duty on Second Homes

    Sorry to ambush your post but with the new Stanp Duty legislation coming into effect 1st April, does anyone know if a property purchase has to complete before the end of March to be exempt, or do you merely just have to be in the process of purchase? Thanks
  7. Hi everyone After a year of so of saving I am finally ready to buy my first property, which is mega exciting! I will be investing through a Ltd, which means I need to get it set up pretty quickly as I plan on going to offer on properties ASAP, but more importantly with the right firm. I have done a bit of research and found the following BTL specialists: Morris & Co Rouse partners Eden Currie (local to me in Solihull) Does anyone have any experience with these firms? Would you recommend? Is there anyone else I should be talking to? Also can someone give me a bit of advice on the process of buying through an Ltd? I have bought a property before (the house I live in!) but wondered if anything is different with an LTD? Guessing you still need proof of funds (within the Ltd), mortgage in principle etc. Thanks in advance :-) Jack
  8. Hi Does anyone have a recommendation for an account or accountancy firm in the Solihull / Birmingham area? I am planning on buying my first property early next year in an Ltd, and want to get going with putting the foundations in place. Struggling to find anything through Google / local press etc. that specifies experience with property. Thanks Jack
  9. Hi Sam Just wanted to thank you for flagging this. I hadn't considered some of these infrequent costs into my numbers so will be going back to the spreadsheets now! Jack
  10. Hi all I have created a few really simple spreadsheets to show the financial differences between investing privately or through a ltd company. There are 3 tabs: Single Property Comparison Portfolio Comparison Selling Comparison Grey cells are editable - everything else should self populate. They are extremely simple sheets and I'm sure wont encompass all tax 'loopholes' / deductions , but if you're like me and need to see the numbers to fully understand the differences then hopefully they will help There could very well be a few mistakes in there (please let me know if you spot any!) - it's been a long day! Any questions please don't hesitate to ask. Thanks Property Tax Comparison Tool.xlsx
  11. Am I right in assuming the £11k CGT-free allowance would still remain in tact, making the vast majority of higher rate tax paying investors with only 1 property unaffected (up North anyway)? This is of course until we decide to scale up our portfolios! I must say it was great to hear Rob open up with his opinion of the changes on the Podcast, as I couldn't agree more! There is no way I would have voted as I did if I knew these changes were planned. Jack
  12. Long Time Listener from Birmingham

    Hi Richard Thank you very much for your response. For some reason I cannot access the link (saying Page not Found) but I would be very interested in reading it if you could send it to me in another format? My email is jack_d_sweeney@hotmail.co.uk I completely agree on the speculative point; I am very conscious that every investment needs to stack up financially from a net yield perspective. I hope to build a sizeable portfolio long-term, so raising funds through rental income will be very important for funding estate expansion. Any information you are happy to share would be greatly welcomed, either via email or even meeting for a coffee sometime. Thanks
  13. Hi everyone I have been listening to the PP since the very beginning, although I must admit I have had to play catch up over the last few months due to work commitments. Absolutely love the show, perfect for the daily commute! I am 23 years old and brought my first house in Solihull in May this year (to live in with my partner). I actually very nearly made the decision to purchase 1 or 2 BTL's with the money I had saved, but felt it was probably time I flew the nest! However my hunger to get into the world of property investment is stronger than ever, and I have 1 very clear goal... to buy my first BTL property in 2015. I am fairly set on buying in or around Birmingham, with the plans to renovate the East Side in line with the HS2 hopefully this will be a strong catalyst for Capital Growth. My work life is pretty hectic, so again initial plans are to buy somewhere requiring little work and putting it through a letting agency. I am very much geared towards a long term strategy; as long as my cashflow is positive after all costs and provisions (safety net!) I will be happy with moderate yields. Any initial advice based on the above, or experience in the Birmingham/Solihull area would be greatly appreciated. I look forward to learning as much as possible from all the experienced investors on this forum, and hope to meet some of you in person in the future. Thanks Jack