Hi Jamie, this is a really useful video. I have a quick question regarding how you export the lists into a spreadsheet documents so that you can phone each agent? How do you export the information or what software do you use?
Completed resi property transactions in England: June '21: 191k June '22: 88k Buyers been getting shy since the cost of living crisis + higher interest rates.
@@JamieYork my solicitor was absolutely useless... so was the vendors... Both kept blaming each other for the delays. I wondered how anyone could make a living flipping houses when it took so long to complete. Sounds like I need a new solicitor next time!
Hi Jamie， once we found a suitable house unit (with extended completion so seemingly having potential issues with buyer) should we contact the seller directly or still need to go through the same agent listed on RightMove, as the current agent may not be so keen to have other parties (buyers included) to intercept their ongoing deal? Or would they be happy to consider our proposals?
Hey Jamie! Quick question I drive past this one property all the time, the for sale sign has been there for a very long time but can’t find the property on any site. Any ideas why? Thanks.
Good video however its a shame that lendlord Doesn't go as far to figure out what capacity you're buying in as section 24 could wipe out the entire 7 percent cash on cash return and if you were drawing a mortgage for your LTD it would be a higher interest rate thus eliminating any profit in the short term.
@@JamieYork in what way are they easy to get out of? It would be buying in a company in the first place right? So the interest rate will be much higher and extra running costs such as an accountant I do enjoy your videos however I think it would be important that a typical buy-to-let landlord looking at this wanting to start out with 30k deposit depending on his income level could be wiped out by section 24. Essentially its not a scalable bussniess model you could probably get away with 2 property's if you're a lower tax payer before it starts to actually loose you money. There are people who are loosing thousands a month due to being caught in section 24 with 30 percent deposits who cant afford to switch them to a company structure it's quite depressing to say the least! 😑 I think the government are saying no more small time landlords becoming tycoons easily I think it would be good that you make a video which shows the realistic side of everything taking into account someone on an average uk income and buying a property on a personal name or ltd taking into account section 24 and all other costs 🙂
@@JamieYork yes I think it will be good that you make a video about that definitely. It's the first I've heard and my accountant knows nothing about an exemption so that would be interesting. Obviously section 24 doesn't apply to commercial property or ltds that's all that seems to be known at the moment. I think it will also be good that you include what the sweet spot would be and the practicality of this concept which doesn't work anymore anything past the lower tax threshold. For example a breakdown John on £30k a year who buys 2 property's on his personal name taking into account how much better of he would be but then how dire the situation would be should he get a pay rise pushing him over 50k a year you'll find it just wont be viable if you break the numbers down using a 25% deposit. Then compare him to a LTD model but take into account the extra costs like the interest etc. You could also compare Paul who is on £50k a year already and break down the profit over some years after tax section 24 etc etc. I think it will be good and you'll probably be the first person who actually explains how dire the situation is and why LL's are looking for exit particularly those who are highly geared with debt and it's not just that rent freezes could be a stone throw away in england and generally it's no where near as fun as it used to be being a LL but that's obviously another story Looking forward to your video which calculates realistically what's left after section 24 🙂
Don't worry you wouldn't want to live in ls9 😉...... would rather pay 250k for a mid terrace in a nice area if its your home, as a landlord however these cheaper areas always offer stronger rental returns.
Depends on your outlook at it... In our experience, people who have been waiting 9 months to complete are not happy, so when we can complete in 4 weeks. We are actually helping them solve the problem! But I can see why you might think that!
If your solving a problem for a fed up vendor I don’t see what the issue is? The vender is under no obligation to accept the offer. The vendor could potentially loose a house due to the original buyer messing him around. Don’t see an ethics issue here
Hi Jamie, this is a really useful video. I have a quick question regarding how you export the lists into a spreadsheet documents so that you can phone each agent? How do you export the information or what software do you use?
Your vid's are always super helpful and easy to follow... great help! 👌
Glad you like them!
Hello Jamie, great video, massive fan of your work!
Just a quick one: can you give us some tips on how to use Lendlords for FLIPS.
Thanks coach!
Roger that!
I would definitely appreciate a video on using Lendlord for this subject to!
Absolutely helpful. Thanks Jamie
My pleasure!
thanks Jamie for the excellent info, best wishes
Glad it was helpful!
Completed resi property transactions in England:
June '21: 191k
June '22: 88k
Buyers been getting shy since the cost of living crisis + higher interest rates.
Not quite a that point. The market was the hottest on years. I wonder what caused it back then
@@JamieYork BoE interest rate of 0.1% + stamp duty cut caused it. loll
Very grateful for the value you provide
Thanks man!
this was very helpful, thanks Jamie
You're welcome!
your videos are very useful been watching for a while, maybe you can do a tutorial on using lendlord sometime?
Sure thing!
Is it possible to complete within a month? Conveyancing took 6 months when I bought last time... No fault of mine or the seller...
Yeah, we once completed in 48 hours! But I wouldn't advise it
@@JamieYork my solicitor was absolutely useless... so was the vendors... Both kept blaming each other for the delays. I wondered how anyone could make a living flipping houses when it took so long to complete. Sounds like I need a new solicitor next time!
When you think you can learn no more, great tip thank you.
Glad it was helpful!
Hi Jamie， once we found a suitable house unit (with extended completion so seemingly having potential issues with buyer) should we contact the seller directly or still need to go through the same agent listed on RightMove, as the current agent may not be so keen to have other parties (buyers included) to intercept their ongoing deal? Or would they be happy to consider our proposals?
Great video Jamie, thanks 🙏
Thanks!
Hey Jamie! Quick question I drive past this one property all the time, the for sale sign has been there for a very long time but can’t find the property on any site.
Any ideas why?
Thanks.
You called the agent who has the for sale board?
@@Andy5c I haven’t my friend was just curious if this sort of thing was a common occurrence
It's not common No usually if there is a board it's online but as I said if your interested in the property take action...... pick up the phone.
Knock on there door and ask if you can help!
Good video however its a shame that lendlord Doesn't go as far to figure out what capacity you're buying in as section 24 could wipe out the entire 7 percent cash on cash return and if you were drawing a mortgage for your LTD it would be a higher interest rate thus eliminating any profit in the short term.
I can feed that back… the issue is that everyone’s tax situation is the same AND taxes like section 24 are so easy to get out of!
@@JamieYork in what way are they easy to get out of? It would be buying in a company in the first place right? So the interest rate will be much higher and extra running costs such as an accountant
I do enjoy your videos however I think it would be important that a typical buy-to-let landlord looking at this wanting to start out with 30k deposit depending on his income level could be wiped out by section 24. Essentially its not a scalable bussniess model you could probably get away with 2 property's if you're a lower tax payer before it starts to actually loose you money.
There are people who are loosing thousands a month due to being caught in section 24 with 30 percent deposits who cant afford to switch them to a company structure it's quite depressing to say the least! 😑 I think the government are saying no more small time landlords becoming tycoons easily I think it would be good that you make a video which shows the realistic side of everything taking into account someone on an average uk income and buying a property on a personal name or ltd taking into account section 24 and all other costs 🙂
Some social housing. Interact for example make the section 24 exempt even in personal name… want me to do a video on it?
@@JamieYork yes I think it will be good that you make a video about that definitely. It's the first I've heard and my accountant knows nothing about an exemption so that would be interesting.
Obviously section 24 doesn't apply to commercial property or ltds that's all that seems to be known at the moment.
I think it will also be good that you include what the sweet spot would be and the practicality of this concept which doesn't work anymore anything past the lower tax threshold. For example a breakdown
John on £30k a year who buys 2 property's on his personal name taking into account how much better of he would be but then how dire the situation would be should he get a pay rise pushing him over 50k a year you'll find it just wont be viable if you break the numbers down using a 25% deposit.
Then compare him to a LTD model but take into account the extra costs like the interest etc.
You could also compare Paul who is on £50k a year already and break down the profit over some years after tax section 24 etc etc.
I think it will be good and you'll probably be the first person who actually explains how dire the situation is and why LL's are looking for exit particularly those who are highly geared with debt and it's not just that rent freezes could be a stone throw away in england and generally it's no where near as fun as it used to be being a LL but that's obviously another story
Looking forward to your video which calculates realistically what's left after section 24 🙂
Great video, thanks!
Glad you liked it!
What do you need to complete on a property purchase quickly?
Cash usually
Biggest bottleneck is solicitors.
Very nice!
Thanks!
I had to remortgage 3 properties during the thick of lockdown! Absolute nightmare
Ouch!
Where I live 250k is a standard 2 bed mid terrace 🤯😳
Don't worry you wouldn't want to live in ls9 😉...... would rather pay 250k for a mid terrace in a nice area if its your home, as a landlord however these cheaper areas always offer stronger rental returns.
@@Andy5c you could be right, just have to save a bit more to get that first buy to let. Thanks for the reply 👍
Sounds like good Capital Growth!
thank you - would you have the link for the Landlord web please?
In the description :)
S
:)
telling your audience to gazump people? classy.
I can understand that thinking, it's simply adding value to someone who has an issue which isn't getting solved.
That's a crappy thing to do. No ethics.
Depends on your outlook at it... In our experience, people who have been waiting 9 months to complete are not happy, so when we can complete in 4 weeks. We are actually helping them solve the problem! But I can see why you might think that!
If your solving a problem for a fed up vendor I don’t see what the issue is? The vender is under no obligation to accept the offer. The vendor could potentially loose a house due to the original buyer messing him around. Don’t see an ethics issue here
Absolutely helpful. Thanks Jamie
My pleasure!