Mark Epps

Registered with Property118.com
Tuesday 17th March 2015


Latest Comments

Total Number of Property118 Comments: 3

Mark Epps

11:16 AM, 17th March 2015
About 5 years ago

Glasgow/Leeds/Manchester or save for a year to buy in London?

Reply to the comment left by "rav singh" at "17/03/2015 - 10:11":

Why does everyone assume that you will get better capital growth in London? There's been a boom, yes, but this might just mean you've missed the boat. You can't buy in the expectation of general capital growth, only in the expectation of good rental yield.

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Mark Epps

8:45 AM, 17th March 2015
About 5 years ago

Buying with tenant but want vacant possession

Presumably the fact that there is a tenant in situ who doesn't want to go is reflected in the purchase price? If he wasn't there then the vendor would be able to ask more. So you're taking on a risk for a certain reward.

I think this is how that vile Nicolas van Hoogstraten fellow made his money, no? Buying houses with awkward sitting tenants cheap then sending in the boys to dislodge them and selling on at open market value.

Whether or not the sale can complete - this would depend on the type of mortgage you are buying with. A resi mortgage would require vacant possession for exchange of contracts, whereas a BTL would not.

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Mark Epps

8:33 AM, 17th March 2015
About 5 years ago

Glasgow/Leeds/Manchester or save for a year to buy in London?

Hi Vlad + wider public, fellow newbie here.

I have a portfolio of five properties, bought by selling a house in London two years ago and spreading the cash across a bigger and higher yielding portfolio in Colchester and Manchester.

I think that people look too much at recent price rises in certain regions when they should really be looking at the long term rental future. My attitude is not to try to anticipate future capital movements because none of us really know or can know which regions will go up or down. Build cashflow. The best way to do this is to invest where the yields are best.

I had bought three houses in Colchester before I decided to spread the risk and go north. I've now got two in Manchester and my only regret is not basing my entire portfolio up there. The yields are so much better.

I guess we all have our own models and this is mine.

Best wishes,

Mark... Read More