James Forbes

Registered with Property118.com
Friday 22nd January 2016


Latest Comments

Total Number of Property118 Comments: 7

James Forbes

17:18 PM, 8th July 2020
About 4 months ago

Summer Economic Update - Landlords Reaction

Could the SDLT holiday be of benefit to investors who want to transfer ownership of properties from their own name to a LTD company structure?... Read More

James Forbes

10:21 AM, 2nd April 2016
About 5 years ago

Stamp duty deadline missed due to vendor dragging feet

Reply to the comment left by "mark andrews" at "02/04/2016 - 08:08":

Hi Mark

I first viewed the property with the owner and agent present. The owner told me the tenant lived in the flat with her two children. I remarked how tidy the place was, as I could see no sign of children’s things. He said that they often stayed with her mother near by.
The kitchen fixtures are included in the sale so I looked inside the fridge with the owner’s permission to see what condition it is in.

I have been advised that the rent is due for review. Prior to renewal of the AST I would notify the tenant that I intend to increase the rent. However if I discovered for example that she is claiming benefits and subletting for a profit while living elsewhere then I would obviously have to consider the position. What would you do if that were the situation?

I have wanted to invest in property for many years and now I’m fortunate enough to have a reasonable deposit thanks to an inheritance. By coincidence I started my search in earnest on the very date of the autumn budget statement when the SDLT hike was announced.

Yes I have thought things through. I have thought of very little else for the last 6 months. I even joined this forum to gain further insight into the property business!
I read very interesting and insightful articles on Property188 site every day.

In his article http://www.property118.com/the-roots-of-my-property-investment-strategy/ Mark Alexander explains why he believes there is “never a bad time to buy”.

I think you may have jumped to conclusions about me but thanks for your comments I will certainly take them on board... Read More

James Forbes

19:47 PM, 1st April 2016
About 5 years ago

Stamp duty deadline missed due to vendor dragging feet

Reply to the comment left by "Steven Burman" at "01/04/2016 - 11:16":

Hi Steven.
Thanks for your comment and I agree with both you and Gurav
You will note in my reply to Mandy that the situation with the tenant might be a bit complicated.
I am ready to "walk away" I things don't add up.... Read More

James Forbes

19:32 PM, 1st April 2016
About 5 years ago

Stamp duty deadline missed due to vendor dragging feet

Reply to the comment left by "Mandy Thomson" at "01/04/2016 - 09:25":

Hi Mandy.
It's funny that you should mention the tenant as I now have my suspicions as to weather the woman on the tenancy agreement actually lives at the property. I have viewed the flat twice and was told by the vendor at the first viewing that the tenant lives there with two young children. However there is no evidence of kids in the place. No toys, clothes, toothbrushes, games console, drawings etc...nothing, in fact I'm 100% sure that no child lives there. The two bedrooms are occupied there is food in the fridge and the place is generally clean and tidy.

I think the current landlord is aware of the situation and that what ever the arrangement it has been going on for years! The current AST is to the end of June. My plan was to keep the current tenant and review the situation at the end of the AST. My research suggests that the current rent is at least 10% below market value so a rent increase is due.

This all explains why access has been difficult.

more "Alarm Bells"? but in my view it's a decent property at a good price!... Read More

James Forbes

19:05 PM, 31st March 2016
About 5 years ago

Stamp duty deadline missed due to vendor dragging feet

Reply to the comment left by "Sara Webb" at "31/03/2016 - 17:33":

Hi Sara
Thanks for your advice.
As you can imagine I have become a little obsessed with this deal and its disappointing to have missed the deadline.
You are right, there are many more properties out there and in uncertain times perhaps it is better to wait and see what happens... Who knows!... Read More