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kingdowieonthewall Sussex, ex-Cronx. 03 Mar 15 6.21am
Quote Lyons550 at 02 Mar 2015 3.15pm Anyone on here with a property portfolio, or in the property development game? I'm about to start myself and wondered if there was anyopne on here with experience in both fields (i.e that have more than one properties with tennants, or that buys, rennovates and moves on). If so, what are the top 3 tips you'd give to anyone about to enter the fray....whilst i'd appreciate comments from anyone it'd be more meanigful if it simply wasnt someone who's been watching Homes Under The Hammer moere than once but someone who is actually doing this. Ta look at west Croydon. A lot of still cheap older properties. As a decorating contractor, i do a lot of this sort of work. People are buying in Croydon, a lot in west Croydon. Kids,tired of being bothered by your pesky parents? Then leave home, get a job & pay your own bills, while you still know everything.
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kingdowieonthewall

Sussex, ex-Cronx. 03 Mar 15 6.21am

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Quote Lyons550 at 02 Mar 2015 3.15pm

Anyone on here with a property portfolio, or in the property development game?

I'm about to start myself and wondered if there was anyopne on here with experience in both fields (i.e that have more than one properties with tennants, or that buys, rennovates and moves on).

If so, what are the top 3 tips you'd give to anyone about to enter the fray....whilst i'd appreciate comments from anyone it'd be more meanigful if it simply wasnt someone who's been watching Homes Under The Hammer moere than once but someone who is actually doing this.

look at west Croydon.
A lot of still cheap older properties.
As a decorating contractor, i do a lot of this sort of work.
People are buying in Croydon, a lot in west Croydon.

Kids,tired of being bothered by your pesky parents?
Then leave home, get a job & pay your own bills, while you still know everything.

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suttonEagle2010 Shirley 03 Mar 15 8.35am
Quote kingdowieonthewall at 03 Mar 2015 6.21am Quote Lyons550 at 02 Mar 2015 3.15pm Anyone on here with a property portfolio, or in the property development game? I'm about to start myself and wondered if there was anyopne on here with experience in both fields (i.e that have more than one properties with tennants, or that buys, rennovates and moves on). If so, what are the top 3 tips you'd give to anyone about to enter the fray....whilst i'd appreciate comments from anyone it'd be more meanigful if it simply wasnt someone who's been watching Homes Under The Hammer moere than once but someone who is actually doing this. Ta look at west Croydon. A lot of still cheap older properties. As a decorating contractor, i do a lot of this sort of work. People are buying in Croydon, a lot in west Croydon. House prices in and around croydon are going to go crazy over the next few years, especially when they finally start work on the new Westfield centre. Also Peckham Rye is on the rader of most developers now. It's been a poo hole for many years but it's starting to turn. This is where we have the flat we are about to sell. Always go to the local high street, when you start to see a couple of trendy cafes and bakery's opening, that's always a good indicator of what's starting to happen in that area.
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suttonEagle2010

Shirley 03 Mar 15 8.35am

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Quote kingdowieonthewall at 03 Mar 2015 6.21am

Quote Lyons550 at 02 Mar 2015 3.15pm

Anyone on here with a property portfolio, or in the property development game?

I'm about to start myself and wondered if there was anyopne on here with experience in both fields (i.e that have more than one properties with tennants, or that buys, rennovates and moves on).

look at west Croydon.
A lot of still cheap older properties.
As a decorating contractor, i do a lot of this sort of work.
People are buying in Croydon, a lot in west Croydon.

House prices in and around croydon are going to go crazy over the next few years, especially when they finally start work on the new Westfield centre. Also Peckham Rye is on the rader of most developers now. It's been a poo hole for many years but it's starting to turn. This is where we have the flat we are about to sell.

Always go to the local high street, when you start to see a couple of trendy cafes and bakery's opening, that's always a good indicator of what's starting to happen in that area.

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Hoof Hearted 03 Mar 15 9.44am
Buy your properties in Southall with large gardens, so that you can erect sheds/outbuildings to house illegal immigrants, who will pay cash and ask no awkward questions about safety certificates etc.
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Hoof Hearted 03 Mar 15 9.44am

Buy your properties in Southall with large gardens, so that you can erect sheds/outbuildings to house illegal immigrants, who will pay cash and ask no awkward questions about safety certificates etc.

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Hoof Hearted 03 Mar 15 9.58am
Quote 7mins at 03 Mar 2015 1.15am I buy run down property, live in it while I do it up, then sell. Did 3 last yr whilst holding down a full time job. Pros... my best yr I earned about 160k Worst yr 92k Cons... I have worked my nuts off, my back is f***ed. 2 relationships have failed and a few friends have disappeared due to me working 7 days a week for 47-50 weeks of the yr. You seem to have enough time for 5 a side footy and with a bad back?
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Hoof Hearted 03 Mar 15 9.58am

Quote 7mins at 03 Mar 2015 1.15am

I buy run down property, live in it while I do it up, then sell.
Did 3 last yr whilst holding down a full time job.
Pros... my best yr I earned about 160k Worst yr 92k

Cons... I have worked my nuts off, my back is f***ed. 2 relationships have failed and a few friends have disappeared due to me working 7 days a week for 47-50 weeks of the yr.

You seem to have enough time for 5 a side footy and with a bad back?

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Lyons550 Shirley 03 Mar 15 11.17am
Thanks for the responses guys some interesting pointers Just one more question? Have those of you that have done it set up a shell company within which you keep all the finances separate? The Voice of Reason In An Otherwise Mediocre World
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Lyons550

Shirley 03 Mar 15 11.17am

Thanks for the responses guys some interesting pointers

Just one more question? Have those of you that have done it set up a shell company within which you keep all the finances separate?

The Voice of Reason In An Otherwise Mediocre World

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7mins In the bush 03 Mar 15 11.24am
Quote Hoof Hearted at 03 Mar 2015 9.58am Quote 7mins at 03 Mar 2015 1.15am I buy run down property, live in it while I do it up, then sell. Did 3 last yr whilst holding down a full time job. Pros... my best yr I earned about 160k Worst yr 92k Cons... I have worked my nuts off, my back is f***ed. 2 relationships have failed and a few friends have disappeared due to me working 7 days a week for 47-50 weeks of the yr. You seem to have enough time for 5 a side footy and with a bad back? Yes, and tennis. Anyone who has suffered a bad back will tell you, it's inactivity that causes the pain.
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7mins

In the bush 03 Mar 15 11.24am

Quote Hoof Hearted at 03 Mar 2015 9.58am

Quote 7mins at 03 Mar 2015 1.15am

I buy run down property, live in it while I do it up, then sell.
Did 3 last yr whilst holding down a full time job.
Pros... my best yr I earned about 160k Worst yr 92k

Cons... I have worked my nuts off, my back is f***ed. 2 relationships have failed and a few friends have disappeared due to me working 7 days a week for 47-50 weeks of the yr.

You seem to have enough time for 5 a side footy and with a bad back?

Yes, and tennis. Anyone who has suffered a bad back will tell you, it's inactivity that causes the pain.

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7mins In the bush 03 Mar 15 11.40am
Oh... And Naproxen
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7mins

In the bush 03 Mar 15 11.40am

Oh... And Naproxen

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Lyons550 Shirley 03 Mar 15 11.42am
Quote 7mins at 03 Mar 2015 1.15am I buy run down property, live in it while I do it up, then sell. Did 3 last yr whilst holding down a full time job. Pros... my best yr I earned about 160k Worst yr 92k Cons... I have worked my nuts off, my back is f***ed. 2 relationships have failed and a few friends have disappeared due to me working 7 days a week for 47-50 weeks of the yr. Do you buy at Auction or on the open Market 7mins? Do you also do all the work yourself? The Voice of Reason In An Otherwise Mediocre World
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Lyons550

Shirley 03 Mar 15 11.42am

Quote 7mins at 03 Mar 2015 1.15am

I buy run down property, live in it while I do it up, then sell.
Did 3 last yr whilst holding down a full time job.
Pros... my best yr I earned about 160k Worst yr 92k

Cons... I have worked my nuts off, my back is f***ed. 2 relationships have failed and a few friends have disappeared due to me working 7 days a week for 47-50 weeks of the yr.

Do you buy at Auction or on the open Market 7mins? Do you also do all the work yourself?

The Voice of Reason In An Otherwise Mediocre World

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TUX redhill 03 Mar 15 6.42pm
Quote 7mins at 03 Mar 2015 1.15am I buy run down property, live in it while I do it up, then sell. Did 3 last yr whilst holding down a full time job. Pros... my best yr I earned about 160k Worst yr 92k Cons... I have worked my nuts off, my back is f***ed. 2 relationships have failed and a few friends have disappeared due to me working 7 days a week for 47-50 weeks of the yr. All that tells me is money is your God tbh. Enjoy.
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TUX

redhill 03 Mar 15 6.42pm

Quote 7mins at 03 Mar 2015 1.15am

I buy run down property, live in it while I do it up, then sell.
Did 3 last yr whilst holding down a full time job.
Pros... my best yr I earned about 160k Worst yr 92k

Cons... I have worked my nuts off, my back is f***ed. 2 relationships have failed and a few friends have disappeared due to me working 7 days a week for 47-50 weeks of the yr.

All that tells me is money is your God tbh.
Enjoy.

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7mins In the bush 03 Mar 15 8.05pm
Quote TUX at 03 Mar 2015 6.42pm Quote 7mins at 03 Mar 2015 1.15am I buy run down property, live in it while I do it up, then sell. Did 3 last yr whilst holding down a full time job. Pros... my best yr I earned about 160k Worst yr 92k Cons... I have worked my nuts off, my back is f***ed. 2 relationships have failed and a few friends have disappeared due to me working 7 days a week for 47-50 weeks of the yr. All that tells me is money is your God tbh. Enjoy. Sadly you are probably right, I hate my full time job, and this is the only way I see out of it. Thanks for the feedback.
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7mins

In the bush 03 Mar 15 8.05pm

Quote TUX at 03 Mar 2015 6.42pm

Quote 7mins at 03 Mar 2015 1.15am

I buy run down property, live in it while I do it up, then sell.
Did 3 last yr whilst holding down a full time job.
Pros... my best yr I earned about 160k Worst yr 92k

Cons... I have worked my nuts off, my back is f***ed. 2 relationships have failed and a few friends have disappeared due to me working 7 days a week for 47-50 weeks of the yr.

All that tells me is money is your God tbh.
Enjoy.

Sadly you are probably right, I hate my full time job, and this is the only way I see out of it.
Thanks for the feedback.

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7mins In the bush 03 Mar 15 8.06pm
Quote Lyons550 at 03 Mar 2015 11.42am Quote 7mins at 03 Mar 2015 1.15am I buy run down property, live in it while I do it up, then sell. Did 3 last yr whilst holding down a full time job. Pros... my best yr I earned about 160k Worst yr 92k Cons... I have worked my nuts off, my back is f***ed. 2 relationships have failed and a few friends have disappeared due to me working 7 days a week for 47-50 weeks of the yr. Do you buy at Auction or on the open Market 7mins? Do you also do all the work yourself? Never brought at auction, although I plan to. I (or my family) do 90% of the work. Boilers and some of the more complicated electricity work, we usually get someone in... I never work to a time frame so I can usually wait until someone is free if I need someone in. I get my mortgages with HSBC, I think they've cottoned on that this is a secondary income, I'm not sure if they can let the tax office know... I'm not even sure if I should be paying tax... All the properties I have done, I've lived at, so I think that means I don't get CGT. My friend has overpaid on his mortgage, and HSBC have been more than accommodating... They have even let him have a interest only mortgage on a residential property with no "Repayment Vehicle", I've been told this is rare. So if you have a few extra quid, overpay on your mortgage.
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7mins

In the bush 03 Mar 15 8.06pm

Quote Lyons550 at 03 Mar 2015 11.42am

Quote 7mins at 03 Mar 2015 1.15am

I buy run down property, live in it while I do it up, then sell.
Did 3 last yr whilst holding down a full time job.
Pros... my best yr I earned about 160k Worst yr 92k

Cons... I have worked my nuts off, my back is f***ed. 2 relationships have failed and a few friends have disappeared due to me working 7 days a week for 47-50 weeks of the yr.

Do you buy at Auction or on the open Market 7mins? Do you also do all the work yourself?

Never brought at auction, although I plan to. I (or my family) do 90% of the work. Boilers and some of the more complicated electricity work, we usually get someone in... I never work to a time frame so I can usually wait until someone is free if I need someone in. I get my mortgages with HSBC, I think they've cottoned on that this is a secondary income, I'm not sure if they can let the tax office know... I'm not even sure if I should be paying tax... All the properties I have done, I've lived at, so I think that means I don't get CGT.
My friend has overpaid on his mortgage, and HSBC have been more than accommodating... They have even let him have a interest only mortgage on a residential property with no "Repayment Vehicle", I've been told this is rare. So if you have a few extra quid, overpay on your mortgage.

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johnfirewall 03 Mar 15 9.26pm
Got no builder mates or any that need work that badly. A mate at the moment has a family friend repeatedly going AWOL while doing up his gaff, due to being a bit mental and thus taking an eternity. Could not deal with that as I'd have to live in the place at the same time. Otherwise I'd be all over it.
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johnfirewall

03 Mar 15 9.26pm

Got no builder mates or any that need work that badly. A mate at the moment has a family friend repeatedly going AWOL while doing up his gaff, due to being a bit mental and thus taking an eternity. Could not deal with that as I'd have to live in the place at the same time.

Otherwise I'd be all over it.

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