Congrats! Love to see you growing your portfolio and being transparent. Keep the videos coming and let the haters hate as you reach your goals and they are still wishing to buy their first house!
Feel your pain with Paragon Mortgages....They basically refused to loan for a house I was interested in due to minor things like a dated kitchen and old plumbing leaks from the bathroom. Absurd, and they still kept a non-refundable set-up fee. Easy £1,000 for them 😡
I sometimes feel the only thing they don’t ask is my blood type, maybe that’ll be what catches me out next time. Thanks for watching and for dropping a comment 👍
Hi, Thanks for watching and for dropping a comment. You can agree that a vendor pays you an amount outside of the purchase so you don’t have to adjust the purchase price and go back to square one. I hope this helps
Hi Dan Great videos and informative I too. Am a landlord of only two properties but much interested in what you are doing. I have considered ones in Hull and Grimsby, much cheaper to buy returns good interest to hear your thoughts on that. Gary And yes, please forward me your book 👍🏼
Hi Gary, Thanks very much for watching and for dropping a comment 👍 Regarding Hull and Grimsby just be careful you don’t go too cheap as cheap properties are often in undesirable areas and undesirable areas will attract undesirable tenants. You also not get much appreciation in these two areas as the fundamentals are lacking. I have videos on cheap properties and where to buy on my channel. I hope this helps, thanks again for your support by watching
Can you please share your master spreadsheet? I'm on my 1st buy to let with a mortgage rate of 1.82% and looking for the 2nd but it's extremely difficult when rates are what they are today. Your spreadsheet would be very helpful.
Hi Simon, Thanks very much for watching and for taking the time to drop a comment. The database is my deal calculator that allows me to run the numbers in any property quickly and accurately. You can purchase the tool on my website www.new/property.co.U.K. Just head to the resources page
I appreciate the detail you go into but your ROI figures are terrible at 4.69%, if you get into a situation where the tenant stops paying or something unexpected happens like the boiler does fail then you're absolutely sunk. If all of your properties are so precarious then it could quite easily turn into a house of cards. The negotiation to get 6% off the purchase price in this market is also pretty crazy. 10% should be bare minimum & I would want closer to 20% in order for me to put any money down because you could end up in negative equity very very quickly. Getting into the nitty gritty of the boiler wasn't registered etc. seems like a waste of time, if your numbers weren't so tight then you wouldn't even be thinking about trying to save a couple of £s so late into the purchase. It's a useful video and it's great that you go into the detail, so there is definitely value in here. I just think for the effort you put into property and the upfront money you're having to invest, your return could and should be much higher.
But if hes bought well (I don’t know the area well enough to comment) and his portfolio compounds at a rate similar to inflation over the long term, say, 20 years he’ll have had a growing short term yield and long term leveraged capital growth because he’s fixed the debt at the point of entry. It’s all about the bigger long term wealth creation rather than the micro short term picture. All he’s effectively doing is ensuring that he achieves a positive cashflow and if you do this over 20 properties and build in realistic maintenance and contingencies into your figures then he’s going to win both short term and long term.
@@jonathanobyrne5539 Short term his asset could quickly turn into a liability and if this happens across more than 1 then he could quite easily lose them all. This happened in 2008 to a large number of landlords, once banks start repossessing then they're happy to take the lot. Cash flow is king in any business and those margins are way too tight. I don't know whether his mortgage deal was 2 years or 5 but he's betting that rates will go down and expecting 3% in the future. Rates probably will go down, but if they go up especially if he's on a discounted tracker (I'm not sure what he took in the end) then he would quickly be under water. What do you do then? Well sell the property!? That's great but he only negotiated a 6% discount and that will likely be all gone & then some with further house price drops & sales fees. This is why most investors are currently sat on their hands and few want to go anywhere near vanilla BTLs
Hi Mark, I have a sizeable portfolio generating a decent return that would cover the rent of this property in a worse case scenario, “absolutely sunk” is far too extreme of a term. Your suggestion of 20% BMV at the time of purchase and in most markets is unrealistic. As predicted rates have peaked and will now start to drop. This property will see a decent uplift in value over the next 15/20 years, the rent will increase pretty rapidly and interest rates will decrease over the next couple of years. I appreciate you watching and you leaving a comment, however, “absolutely sunk” and “house of cards” are far from accurate and too extreme. Where are you getting 20% BMV mark?
@new2property well absolutely sunk refers to getting in negative cash flow, house or cards was based on an assumption "if" the rest of your properties are done the same way. It's not meant as a slight but it's a concern with vanilla buy to let's in general. I'm currently looking at a commercial property which is about 30% BMV, the idea being to get planning and convert it into residential use. That will be a BRR and if the numbers work out then I'll pull all my money out giving an infinite ROI and great cash flow. These types of deals are rarer, more complicated and need decent upfront investment but they're far more profitable.
They can get on the property ladder, there are loads of properties on sale right now & very few people are buying. Too many people want the lifestyle of living in London, nights out, expensive phones & clothes and aren't prepared to make the sacrifices to save a deposit. If you want a cheap property then you need to be prepared to relocate, or buy something that's in a state and needs to be done up. If you don't want to hear about property investment then this isn't going to be the channel for you.
Why hate ? Appreciate his hard work why there’s opportunity in the market. Theres loads of money available out there to be earned . The average person thinks working 8 hours a day 5 days a week is enuff , get out there and find away
Congrats! Love to see you growing your portfolio and being transparent.
Keep the videos coming and let the haters hate as you reach your goals and they are still wishing to buy their first house!
Thank you so much for watching and for following my journey it’s appreciated. 👍
Hi Dan, hope you are well…? Another great video - look forward to the next instalments.
Thanks @jameswells6796 great to hear from you I hope you are well.
just researching B2L and L2B. Very informative videos. Ty
As usual Dan, really great content that will help me in my future endeavours
Hi Kevin,
Thanks for watching I’m glad that you are finding my videos useful
Excellent video and walk through
Glad you enjoyed it, thanks for watching and for dropping a comment
Well done. You are the best. Keep up
Massive value mate. Thank you.
You are very welcome, thanks for watching and for dropping a comment 👍
Amazing content love the raw honest stuff. ❤
Thank you so much for your comment, it’s really appreciated.
Feel your pain with Paragon Mortgages....They basically refused to loan for a house I was interested in due to minor things like a dated kitchen and old plumbing leaks from the bathroom.
Absurd, and they still kept a non-refundable set-up fee. Easy £1,000 for them 😡
I sometimes feel the only thing they don’t ask is my blood type, maybe that’ll be what catches me out next time.
Thanks for watching and for dropping a comment 👍
Love the detail! What is this credit note that u asked for instead of a reduction in price?
Hi,
Thanks for watching and for dropping a comment. You can agree that a vendor pays you an amount outside of the purchase so you don’t have to adjust the purchase price and go back to square one.
I hope this helps
Hi Dan Great videos and informative I too. Am a landlord of only two properties but much interested in what you are doing. I have considered ones in Hull and Grimsby, much cheaper to buy returns good interest to hear your thoughts on that.
Gary
And yes, please forward me your book 👍🏼
Hi Gary,
Thanks very much for watching and for dropping a comment 👍
Regarding Hull and Grimsby just be careful you don’t go too cheap as cheap properties are often in undesirable areas and undesirable areas will attract undesirable tenants. You also not get much appreciation in these two areas as the fundamentals are lacking.
I have videos on cheap properties and where to buy on my channel.
I hope this helps, thanks again for your support by watching
Can you please share your master spreadsheet? I'm on my 1st buy to let with a mortgage rate of 1.82% and looking for the 2nd but it's extremely difficult when rates are what they are today.
Your spreadsheet would be very helpful.
Hi,
You can purchase my deal calculator tool on my website www.new2property.co.uk
Thanks for watching and for dropping a comment.
FAB!
Thanks for watching and for dropping a comment
Hi Great videos, i just wanted to ask, @2:00 in the video, what data base is that with on the sums on?
Hi Simon,
Thanks very much for watching and for taking the time to drop a comment.
The database is my deal calculator that allows me to run the numbers in any property quickly and accurately. You can purchase the tool on my website www.new/property.co.U.K. Just head to the resources page
Did not you pay a huge product fee to secure the paragon mortgage?
Hi Dan, what type of software do you use to keep track of payments.. and mamageing other tasks?
Hi,
Take a look at this video: ua-cam.com/video/RD52SfoTM_4/v-deo.htmlsi=QFDQHQbCynu0x-fq this is how I manage my portfolio 👍
✅✅
Thanks for watching
I appreciate the detail you go into but your ROI figures are terrible at 4.69%, if you get into a situation where the tenant stops paying or something unexpected happens like the boiler does fail then you're absolutely sunk. If all of your properties are so precarious then it could quite easily turn into a house of cards.
The negotiation to get 6% off the purchase price in this market is also pretty crazy. 10% should be bare minimum & I would want closer to 20% in order for me to put any money down because you could end up in negative equity very very quickly. Getting into the nitty gritty of the boiler wasn't registered etc. seems like a waste of time, if your numbers weren't so tight then you wouldn't even be thinking about trying to save a couple of £s so late into the purchase.
It's a useful video and it's great that you go into the detail, so there is definitely value in here. I just think for the effort you put into property and the upfront money you're having to invest, your return could and should be much higher.
But if hes bought well (I don’t know the area well enough to comment) and his portfolio compounds at a rate similar to inflation over the long term, say, 20 years he’ll have had a growing short term yield and long term leveraged capital growth because he’s fixed the debt at the point of entry.
It’s all about the bigger long term wealth creation rather than the micro short term picture.
All he’s effectively doing is ensuring that he achieves a positive cashflow and if you do this over 20 properties and build in realistic maintenance and contingencies into your figures then he’s going to win both short term and long term.
@@jonathanobyrne5539 Short term his asset could quickly turn into a liability and if this happens across more than 1 then he could quite easily lose them all. This happened in 2008 to a large number of landlords, once banks start repossessing then they're happy to take the lot.
Cash flow is king in any business and those margins are way too tight. I don't know whether his mortgage deal was 2 years or 5 but he's betting that rates will go down and expecting 3% in the future. Rates probably will go down, but if they go up especially if he's on a discounted tracker (I'm not sure what he took in the end) then he would quickly be under water.
What do you do then? Well sell the property!? That's great but he only negotiated a 6% discount and that will likely be all gone & then some with further house price drops & sales fees. This is why most investors are currently sat on their hands and few want to go anywhere near vanilla BTLs
Hi Mark,
I have a sizeable portfolio generating a decent return that would cover the rent of this property in a worse case scenario, “absolutely sunk” is far too extreme of a term.
Your suggestion of 20% BMV at the time of purchase and in most markets is unrealistic. As predicted rates have peaked and will now start to drop. This property will see a decent uplift in value over the next 15/20 years, the rent will increase pretty rapidly and interest rates will decrease over the next couple of years.
I appreciate you watching and you leaving a comment, however, “absolutely sunk” and “house of cards” are far from accurate and too extreme.
Where are you getting 20% BMV mark?
Thanks very much Jonathan 👍
@new2property well absolutely sunk refers to getting in negative cash flow, house or cards was based on an assumption "if" the rest of your properties are done the same way. It's not meant as a slight but it's a concern with vanilla buy to let's in general.
I'm currently looking at a commercial property which is about 30% BMV, the idea being to get planning and convert it into residential use. That will be a BRR and if the numbers work out then I'll pull all my money out giving an infinite ROI and great cash flow. These types of deals are rarer, more complicated and need decent upfront investment but they're far more profitable.
What’s your job
Working as hard as possible, saving as much as I can and investing for my future 👍
@@new2property doesn’t answer question. I was hoping for a profession
So boring to listen to him wanging on about his portfolio when young people cannot get on the property ladder because of greedy people like him.
They can get on the property ladder, there are loads of properties on sale right now & very few people are buying. Too many people want the lifestyle of living in London, nights out, expensive phones & clothes and aren't prepared to make the sacrifices to save a deposit. If you want a cheap property then you need to be prepared to relocate, or buy something that's in a state and needs to be done up. If you don't want to hear about property investment then this isn't going to be the channel for you.
Instead of bitching, Work for it! just like he did. People like you moaning about hard working people are what's wrong with the country
Hi @cornel7086
Thank you for watching and for taking the time to drop your feedback 👍
Why hate ? Appreciate his hard work why there’s opportunity in the market. Theres loads of money available out there to be earned . The average person thinks working 8 hours a day 5 days a week is enuff , get out there and find away
His a businessman
That’s the problem with the uk, people love to hate