Always go in with a cheeky offer and look for a property that needs a bit of work, no central heating or no gas supply are good ones if you do the refurb and add lots of money you can sell and make a profit or rent it out ,,and revalue and refinance it and buy another one, I really enjoy doing the work, I spent years working for other people I now work for me and it really works
How would you invest £50K if you don't own your place? I'm thinking of buying a small flat and wanted to buy a buy-to-let but I'd hate to waste 5% mortgage offer on a flat and the buy-to-let wouldn't be too expensive. Would it be better to invest the entire £50K in a more expensive flat in central Birmingham and live there, hoping it appreciates in value?
Ok so I’m looking at property, have 3 property’s I rent out and another 2 that we live in. These are about to be passed over to me and I’m looking at the best way to formulate the process. Do I move to a limited company as currently they are in partners personal names.
You likely won’t pay tax or it will be minimal (if buying within a company at least) as you only pay tax on the profits and you’ll end up making a loss most years due to buying costs, mortgage payments etc.
@@paulinalewinska9816 haha yes, i'm a first time buyer who is self-employed and looking to get into property as a side income to my current job. This video did feel like it wasn't completely applicable to my situation truth be told.
@@bev6466 that's right, he's obviously one of those wannabe investors who has watched every video that's on this channel twice but has yet to dip his toes in. I mean, if it was 'easyyyy' to get a personal mortgage at 5% LTV for a rental property, then why would BTL mortgages exist in the first place?
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I also feel like your videos are London and second+ buyer-centric. With £50,000 and current loan schemes you CAN buy more than one property.
great video
Always go in with a cheeky offer and look for a property that needs a bit of work, no central heating or no gas supply are good ones if you do the refurb and add lots of money you can sell and make a profit or rent it out ,,and revalue and refinance it and buy another one, I really enjoy doing the work, I spent years working for other people I now work for me and it really works
How would you invest £50K if you don't own your place? I'm thinking of buying a small flat and wanted to buy a buy-to-let but I'd hate to waste 5% mortgage offer on a flat and the buy-to-let wouldn't be too expensive. Would it be better to invest the entire £50K in a more expensive flat in central Birmingham and live there, hoping it appreciates in value?
DEFINITELY BUY TO LET !!! NO MATTER WHERE
You might not be allowed a BTL mortgage without owning your own home
buy a house on a 5% mortgage and rent it out without telling the bank
i think you'd have more money from the buy to let both in short and long term unless it's in a shit location idk
@@joshuarodriguez5986 aren’t you a fist time buyer 😂😂
Ok so I’m looking at property, have 3 property’s I rent out and another 2 that we live in. These are about to be passed over to me and I’m looking at the best way to formulate the process. Do I move to a limited company as currently they are in partners personal names.
Tax?
You likely won’t pay tax or it will be minimal (if buying within a company at least) as you only pay tax on the profits and you’ll end up making a loss most years due to buying costs, mortgage payments etc.
I just saved up £50,000 after 3/4 years. Hearing £50,000 was a great amount to have.... now it's not enough lol
Yes it is enough. Are you crazy? There are people making it work with £20,000
are you a first time buyer? if so, ignore these guys they just yap for the rich
@@paulinalewinska9816 haha yes, i'm a first time buyer who is self-employed and looking to get into property as a side income to my current job. This video did feel like it wasn't completely applicable to my situation truth be told.
This channel is for property investors who plan to rent out the property , not people buying their own home.
@@bev6466 aware of that Bev, thanks
Tax...what about me?
Arrangement fee.. er hello!
Affordability test.. greetings!
When remortgaging every two years, do you need to ensure your rental income is sufficient to cover the higher monthly mortgage payments?
Yes you do the rent has to cover the mortgage think it’s 125%
@@piersfisher4606 125% for second tier lenders on higher rates, for best rates it needs an ICR of 145%
If you’d buy a property in Poland few years ago with £50k you’d have £120k now
Well I’m on the national bloody hunter register for a reason they won’t tell me.
I hate that your videos ignore first time buyers. As a first-time buyer you could buy AT LEAST two properties using the 5% mortgage!!!!!
Why 2? Aren’t you first time buyer just once?
@@tavi7 buy one house using 5% mortgage, the second using 25% easyyyy
Isn't this channel about BTL'S?
He is talking about buy to let. You Generally need a 25% deposit for all buy to let mortgages even first time buyers.
@@bev6466 that's right, he's obviously one of those wannabe investors who has watched every video that's on this channel twice but has yet to dip his toes in. I mean, if it was 'easyyyy' to get a personal mortgage at 5% LTV for a rental property, then why would BTL mortgages exist in the first place?
Burrr