Great vid Rob, as always! BiG sidenote though. Please take extra care when getting into flats. Most of them come with a ground rent to pay (beware of lenders' 2% criteria) as well as service charges (triple whammy present compliments of the landlord/freeholder). These two may flip your EOY cash flow into negative territory.
Just found your channel. I'm in healthcare and am all about the detail. I'm also a new investor and I can't have this mindset as it's overwhelming. Your point about mindset is what I'm struggling, good to hear your view on this, very helpful!
Great video. It's worth mentioning that there are some great landlord software products out there too which will also help save even more time and effort!
Excellent as always and great value for under 10 mins. Really sound advice and so useful for those wanting to have passive income. It can be overwhelming to think you have to do everything and very true that it's best to focus on your strengths / what you would rather be doing. Thank-you!
Thats a lot of Overheads on what is also a newish (more expensive) property as you suggest. Buying new and efficient can sometimes benefit the tennant only. i.e. A boiler is a boiler when it needs servicing etc etc. That all adds up to a much lower yield after management fees/maintenance/ tax (rarely gets a mention that one!) etc etc. Im getting nearly 5.4% gross interest in the bank at the mo with absolutely no work/stress but admittedly no real asset growth but aint things are a little stagnent with property now anyway?
Very interesting listening to this perspective. I am near the opposite end of the scale on many of these things. I have retired from employment at 33, so I enjoy fixing up older properties. I can't imagine paying over the odds for a property simply to reduce the work I have to do fixing it. My most recent purchase will likely cost somewhere around 45k after factoring in property purchace, legals and searches and a full renovation. I'm blessed to live near a town where bargains exist sometimes at this price point. Rental demand is high, so it should give us about 5k each year after factoring in all repairs, maintenance, service charges and ground rent (it's a flat). I hope one day I can build HMO builds, but for now we stick with flats. I genuinely enjoy fixing them with my own hands. Maybe that makes me odd
Great vid Rob, as always!
BiG sidenote though. Please take extra care when getting into flats. Most of them come with a ground rent to pay (beware of lenders' 2% criteria) as well as service charges (triple whammy present compliments of the landlord/freeholder). These two may flip your EOY cash flow into negative territory.
Just found your channel. I'm in healthcare and am all about the detail. I'm also a new investor and I can't have this mindset as it's overwhelming. Your point about mindset is what I'm struggling, good to hear your view on this, very helpful!
Mindset is a practice. Like building a muscle, you need to start and work at it consistently.
Great video. It's worth mentioning that there are some great landlord software products out there too which will also help save even more time and effort!
Excellent as always and great value for under 10 mins. Really sound advice and so useful for those wanting to have passive income. It can be overwhelming to think you have to do everything and very true that it's best to focus on your strengths / what you would rather be doing. Thank-you!
Great content Rob! Loving your videos. The balance is great. Your effort on these greatly appreciated. S
Thats a lot of Overheads on what is also a newish (more expensive) property as you suggest. Buying new and efficient can sometimes benefit the tennant only. i.e. A boiler is a boiler when it needs servicing etc etc. That all adds up to a much lower yield after management fees/maintenance/ tax (rarely gets a mention that one!) etc etc.
Im getting nearly 5.4% gross interest in the bank at the mo with absolutely no work/stress but admittedly no real asset growth but aint things are a little stagnent with property now anyway?
Thanks for the content really informative
Glad it was helpful!
@@PropertyHubUK every time also just connected with you on LinkedIn
Very interesting listening to this perspective.
I am near the opposite end of the scale on many of these things. I have retired from employment at 33, so I enjoy fixing up older properties. I can't imagine paying over the odds for a property simply to reduce the work I have to do fixing it. My most recent purchase will likely cost somewhere around 45k after factoring in property purchace, legals and searches and a full renovation. I'm blessed to live near a town where bargains exist sometimes at this price point. Rental demand is high, so it should give us about 5k each year after factoring in all repairs, maintenance, service charges and ground rent (it's a flat).
I hope one day I can build HMO builds, but for now we stick with flats. I genuinely enjoy fixing them with my own hands. Maybe that makes me odd