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rjmahan

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About rjmahan

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  1. Yes - though time / date has been moved now to 25th March.
  2. Hi, I have arranged a meetup for a number of us who invest on the stockmarket in individual stocks. This is suitable for experienced / reasonably knowledgeable investors. Please see the facebook group or send me a PM if it is of interest. https://www.facebook.com/groups/499077480575534/?ref=group_header Location is near the station. Thanks, Rob
  3. I have parking available near Eccleshall Road, Pomona Street - £16 per week - PM me for details.
  4. I have some very good spaces for camper vans available. PM for details
  5. Hi if you have experience investing on the stock market and would like to talk about investments Why not come along to my meetup on 31st Jan at 6PM? Please PM me for further details. Best wishes, Rob
  6. Surely no S.21 as it is assured not shorthold assured ?
  7. But if you buy at a 50% discount does it matter ?
  8. I bought one. For 37k (inc fees) I get £3848 a year. Soon to rise to hopefully just over 4k (rent assessor permitting). I have to maintain the building. and pay tax on the £3848. If/ when tenant moves out / dies I get a house worth hopefully £50-60k, though pay CGT on the gain. Tenant will never move out - they would pay more in a council house - plus have lived there 30+ years so why move now ? The assured tenant pays a market rent but will have to maintain the decoration etc themselves so it isnt that attractive.... It is very much intended as a long term investment. If I hold it 15 years they pay for the house (after tax and likely bills). I then of course still have the house. This assumes no rent rises.... I wanted it for the income - to go towards replacing my job.
  9. These are not ASTs. They are tenancies dating from the 1970s or before. I can't easily evict, I am not responsible for the internal condition of the property other than making sure it is watertight, safe and plumbing works. One of mine pays a reduced rent that I can only increase at inflation. The upside of this is you get higher yields and possibly a property you buy at 30k might be worth 60 when the tenant passes away or moves.
  10. True - I see your point about tax changes under Labour - equally longer leases could make these long leases relatively more attractive. I know for a fact investors in this area have made very good returns. Although I am from far away I live in Sheffield. Lots of absent landlords in this area... Out of interest property is here - sold for £35k and not to me. http://www.rightmove.co.uk/property-for-sale/property-71162138.html
  11. Thanks for your reply Hippo, You make some very good points. 14% yield is gross - but the difference between gross and net for me is ambiguous. I might shortly be leaving work - so my only 'income' will be at or around tax free allowance. As I own my own place and have very little mortgage debt and a modest lifestyle with other money coming in from a couple of other btls / capital gains from the markets I hope this can be enough for me. I checked the roof as best I could when I was there and it looked fine. Tenant says there are no problems - but no guarantees. You are right to raise it though. I am not comfortable letting out a place with no central heating - I am happy actually to put it in, there are grants available and it makes the place much more sellable. Not sure if the guy that lives there will let me - and due to his tenancy he has every right to stop me. As to why the current landlord wants to offload - could be any number of reasons. I suspect properties will be offloaded as leveraged investors move ahead of a rise in rates / individuals try to avoid reduction of mortgage interest deductability. If the guy sells it for what I expect it to go for he will have made a 35-40% loss since just september 2016 - he really overpaid. I did imply long term tenant - he has been there since the 1950s / 60s. How much longer he is there is highly ambigous. On the locality - I disagree with you - places round Middlesbrough / Newcastle where I am from every other property is boarded up - it does affect the area / locality when you are bottom fishing like this... I dont want to have my money in a place which is going to be like this in 10 years time... Why do you prefer short hold tenants ? Surely those on long leases - giving you a higher yield (possibly even after expenses) are a better bet. When/if they move out you could also benefit from a capital uplift ? I am going to have a pop at the auction but I doubt I will win - my ideal value is now below guide price - basically I have found the value of the property as a shell and if I can pay that or thereabouts I will almost certainly make money. I will hold fire and wait for other properties in the area where hopefully both the property and tenant will be in better condition! Thanks for the help.
  12. I have done BTL on a flat in Middlesbrough since 2012 with few problems - only issue I had was a woman who filled the place with fish / terapins then complained about damp ! I served notice on her then she left.
  13. No surviving family so no inheritance issues, thanks.
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