An Investor Abroad

Time to get busy....

2016... What a crazy year. You could say my most successful, intresting and challenging.

The start of the year began with getting ready to move to London, followed by almost 6months of traveling and then finally arriving in London and literally feeling like the reset button had been pressed. Starting from zero PT clients I had to focus on bringing in regular $$.

On top of that, my property stuff, although very successful whlist overseas , again was a big reset with no contacts or network around me and no credit history. Just shows how quickly things can change and the importance of having passive cashflow coming in every month.

Progress has been made in both areas, and can only get better!
I feel 2017 has massive potential for me and I am excited to get there and get stuck in.

Happy New Year everyone!

It's been a while...

Since I've last posted - Don't worry , I haven't given up. Although the thought has crossed my mind.

I've found it's easier to get 100% finance on the bigger stuff going via a JV partner then it is to get a single house. By bigger stuff, I mean a 7 Apartment Block with a cost of 2mil GBP and value of 2.55mil... Even made a offer - which was a bit low.

AS for the passive cashflow that is still trucking along , just setting up companies and meeting with people. Although my property sources seem to have already gone on Christmas holiday.

PS now I want a Lambo...

Test drove this today...

Refocus on my goals.

Finance time.... Finally; bit expensive!

So I have found a few options.

My goal is single let to develop to HMO. So I'll be going after specific products. As I have limited options this is what I have so far.

Bridge Loan at 1.3% per month.
3% Application Fee, but 0% exit fee.
This would only work if I put in 25% of purchase price BUT they would then do 100% of the development cost.

But after the bridge, then what? Exit strategy would be to refinance and pay back the bridge loan...

Expensive yes - but if the numbers work. Then they work right?!

This week.... Feel like I'm getting closer..

The other property posted below didn't turn out to be all the - after speaking to a few other letting agents in the area- it seems not only are the rent numbers that were told to me were far too high , but also that the demand is not there - in fact there is an over supply.

I have however found more potential investors , and have applied for finance.

In hindsight I should have got the finance sorted first before looking at so many deals - I assumed that it if the deal was good then finance will come BUT i didn't count on all the read tape.

"Nothing is impossible. If you think it is, then you just don't want it enough."

SUCCESS!! My credit score has risen enough for me to get on a phone plan.... CREDIT CARD and other LENDING here I come!

An investors character...

I've noticed that there is alot of talking down of other investors in this country. Usually ones that have either come through competing mentorship companies or are in the same investment areas.

What does this do for the character of the person doing the talking? Are they being genuine or not?

And what about the person they are talking about? Do I no longer work with them or just trend carefully.

It's it definitely seems like people have screwed over others in this country around here. But you can't just go around not trusting anyone

Train Time... And Course time

I'm currently sitting on the train on the way to Doncaster. I'm heading up here to do a 3 day course.

Commerical to residential conversion course. This is where the money is. BUT you need money to be able to do such a thing. And obviously need to know how to do it.

During the week I managed to meet a few people, one does developments , doesn't have much time but has the funds . I have lots of time , so we are looking at working together on this project. obviously I will only get 20-25% of the end profit but I will be learning as I go ( and being taught as I go) . The plans for this project are being reviewed by an architect. Bit basic details are..

Old mill with basic planning for 20 apartments. Total investment will be £1.5m ( I've added on 10%) . Total value once complete £2.1-2.2m. BUT it will take 12-18 months to complete.

My issue is that my original goal is cashflow. Does this line up with it? And can I wait that long before being paid?

In other news, that other deal that I liked is going to be a little less realistic , doing due diligence that area seems very over supplied with that kind of investment.

But is that just an excuse not to take action?

What do you guys think?

After a weekend away in Amsterdam (which is awesome btw) Ive set some goals to reach by the end of the week.

This weekend I have a Commercial to Residential course to attend in Doncaster. This will be good as these types of projects are where the money is.

Also have a project Im trying to get Finance for - simple numbers are below. A few options to get this done are:

JV Finance 50/50 split with me doing the work and a money partner getting the finance.

OR I get the finance using a development and bridge loan then a commercial loan to take over - for this to happen I will need an Angel Investor to put in 25K (at 8-10%) .

If you know anyone interested - Let me know

All are in Pounds