Where to get advice on property development and buy to let our house?

sortofok

I think our guest mr SH has gone seeking knowledge on another thread

What say you balders?

mr.broderick

Possibly..Doozer's gone quiet..

sortofok

She has met her match my friend.

Does her silence concern you?

Do you think she's worked it out?

how about mr SH?

leesharp

Hi again,
it seems that some of you have been missing me:-) Ive been having a few days down at the sea with my family.
And yes my name is Lee Sharp.any more questions feel free to ask.Regarding the singing pig web site,yes there are alot of Del boys there,but like i said before still worth a look,like most web sites really.Present one excluded ofcourse which i feel is the best around
Lee Sharp........................

leesharp

Sotofok,
why do you want to know so much about me? I dont want to know anything about you:-) Do you want me to tell you more about myself? How much i earn etc etc :-)

Lee Sharp

mr.broderick

Hi Lee unfortunately or fortunately for some we have lost sortofok. still..rumours are he may return one day...

brasso

mkbswimstar wrote: »

Hi, We are looking to move to a new cheaper area and long term plan is to build up a portfolio of let properties riding the potential crashes and in 30 years sit pretty.
We are moving to a cheaper area and giving up our only income but partner wants to so some properties up as well as let some as we need to make a living whilst there.
We have house worth £220k and mtg of £90k, with little savings.
We have done a property up last year and made about 15k, so we were pleased with that as it was only part time.
Where do we get advice on starting up this kind of business and how to finance this kind of idea?
We were originally gonna sell our house and use equity for deposit on 1st property and living expenses for a year, but i think we are mad to sell our house.
What do you guys think?

Honest answer?

There is a very strong possibility that you'll lose everything. You've probably left it too late to get into this game now.

Are you talking about doing up houses and selling on? Or keeping them and renting out? If the latter, then you'll have to have funds to subsidise the mortgage as the rental yield is very unlikely to cover it. Plus you have to factor in voids, repairs and bad tenants etc.

If I were you I'd wait at least 12 months and see what happens to prices. Personally I don't expect a sudden crash but I'm certain that the days of very high HPI are coming to an end. Despite what people think, it was mainly rampant HPI that made property development profitable.

If you want a nest egg, then why bother with all that hassle of building and decorating and dealing with tenants, and instead MEW some of your equity and invest it across a range of equities, bonds and funds. If you keep your hands off it for 30 years, you'll have a great chance of retiring to a massive sum.

clutton_2

singingpig is one of the best property forums in the uk - and you can learn anything on there which you might pay for at these expensive seminars. like all forums there are good and bad posters - there very few bad ones on singingpig.