11:11 AM, 3rd December 2013, About 12 years ago 33
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Hello everyone.
I hope this finds you all well in the run up to the festive period.
My name is Andrew Hayworth. I’m new to the forum and wanted to introduce myself with a question for you all.
I am in the process of setting up a property investment vehicle, focusing on residential buy-to-lets, with initial capital c.£1m.
Target areas are Edinburgh, Aberdeen, Glasgow, Dundee and Inverness. I know these markets and have an existing contact network of tradesmen established in Edinburgh, Aberdeen and Dundee. I also have a large family network in Inverness who can advise on location, tradesmen and the state of play re the local market and new University opening in 2015.
I currently own 3 residential buy-to-lets in Edinburgh (where I live) so have a base working knowledge of property investment. However, I am looking to identify someone who can advise on the development of a robust investment strategy for a larger portfolio and to help mitigate risk where possible.
I would also be interested to hear from any Scottish members who would be willing to open a dialogue. I’m a young businessman (27) who has benefited greatly from mentoring throughout my career to date. Whilst I have worked in property previously (3 BTL’s and a couple of refurb + sales) I feel that building a relationship with someone more experienced would be invaluable over the coming 12-months.
I should note that I’m not looking to steal too much time. Just some feedback and advice from readers or lunch once a month (on me of course) and the occasional email for questions/sense checking.
Many thanks to everyone in advance.
Have a great Christmas when it comes.
Andrew
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Member Since December 2013 - Comments: 40 - Articles: 1
16:57 PM, 3rd December 2013, About 12 years ago
Reply to the comment left by “Peter ” at “03/12/2013 – 12:56“:
Hi Peter,
Many thanks for your response – greatly appreciated.
Many thanks also for your kind offer to meet one Friday in Dundee. Perhaps I could get in touch in the New Year to arrange?
The £1m capital is the investable cash before borrowings. Total investment pot would be c.£3m, however I will be taking advice on gearing strategy in relation to risk and return. Manageability will also be a key consideration in my strategy development. For now, outsourced management is being factored into my forecasts and calculations.
Re getting in touch directly, how do we go about this? Mark – perhaps you can advise? If posts are put out on Google perhaps exchanging email addresses or phone numbers over the forum is not the best idea?
Many thanks once again and all the best,
Andrew
Andrew H
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Member Since December 2013 - Comments: 40 - Articles: 1
16:58 PM, 3rd December 2013, About 12 years ago
Reply to the comment left by “Puzzler ” at “03/12/2013 – 15:52“:
Hi Puzzler,
Many thanks for highlighting – greatly appreciated.
Andrew
Scottish Association of Landlords
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Member Since June 2013 - Comments: 19 - Articles: 1
16:59 PM, 3rd December 2013, About 12 years ago
Hi Andrew
Please do join SAL, get involved – come to our meetings (all our new dates for 2014 will be announced in January) and events and I’m sure you’ll meet like minded people.
We would be happy to help, and we have a member enews which is well used for the type of request you have made above.
See all the info on our website http://www.scottishlandlords.com or email or phone us and we can send you full membership information.
Best wishes from all at SAL
Andrew H
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Member Since December 2013 - Comments: 40 - Articles: 1
17:10 PM, 3rd December 2013, About 12 years ago
Reply to the comment left by “Scottish Association of Landlords” at “03/12/2013 – 16:59“:
Hi there,
Many thanks. I’ll give you a call later in the week to request full membership info. Anyone I should ask for in particular?
All the best,
Andrew
Scottish Association of Landlords
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Member Since June 2013 - Comments: 19 - Articles: 1
17:37 PM, 3rd December 2013, About 12 years ago
Reply to the comment left by “Andrew Hayworth” at “03/12/2013 – 17:10“:
Hi Andrew
Anybody who answers the phone can help you – one of the membership team and it will be most likely Sarah or Maria, with the exception of tomorrow afternoon when we are going out for our Christmas lunch (early)!
Look forward to hearing from you and will be delighted to help in any way we can.
Mark Alexander - Founder of Property118
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Member Since January 2011 - Comments: 12120 - Articles: 1363
18:21 PM, 3rd December 2013, About 12 years ago
Reply to the comment left by “Scottish Association of Landlords” at “03/12/2013 – 17:37“:
That’s another favour you owe me 🙂
.
Andrew H
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Member Since December 2013 - Comments: 40 - Articles: 1
18:42 PM, 3rd December 2013, About 12 years ago
Reply to the comment left by “Scottish Association of Landlords” at “03/12/2013 – 17:37“:
Great.
Many thanks. Enjoy your Christmas lunch!
Best,
Andrew
Allan Chalmers
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Member Since December 2013 - Comments: 2
18:59 PM, 3rd December 2013, About 12 years ago
Hi Andrew
Lots of good advice above which all makes a great degree of sense.
I am a Scottish Commercial Finance Broker so do not propose to offer you advice on operating as a professional landlord but, it would also be advisable to take some time to consider how your finance structure is going to work.
Have you thought about whether you want to have interest only facilities or Cap & Interest repayments as this will determine how far your £1m will go in acquiring properties.
There are also options for portfolio loans when you have multiple assets, if you have a spread of locations then the lender would most likely look at an aggregation of the asset values rather than a single market valuation. This means that you might be able to borrow more across all assets.
Lots to think about but I am on hand for a chat if you want to bounce idea’s off.
Cheers
Allan
Mark Alexander - Founder of Property118
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Member Since January 2011 - Comments: 12120 - Articles: 1363
19:15 PM, 3rd December 2013, About 12 years ago
Reply to the comment left by “Andrew Hayworth” at “03/12/2013 – 16:58“:
Hi Andrew
If two members agree online for us to put them in touch with each other we will email them both with each others details. We obviously retain details of all members email addresses.
At some stage we hope to build a Private Messaging system into the website but this requires funds to build first 🙂
.
Ian Hamilton
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Member Since October 2013 - Comments: 37
19:26 PM, 3rd December 2013, About 12 years ago
Hi Andrew, checkout the Housecrowd .com. Property investment without the hassle!