9:04 AM, 30th August 2018, About 3 years ago 2
As a BTL investor I have turned recent attention to refurbishment and development. The aim has been to generate more cash to buy more BTL. I have just finished a 2 storey extension to my main residence and reaped the financial benefits of this.
During my search, I have recently viewed a Victorian semi detached property with land to the side accommodating a gateway to the rear garden and a double garage – approximately 6.5m wide in total. This got me thinking – would there be enough room to build a new property? Would I be allowed to turn the purchased Victorian semi (and the neighbours existing) into a row of terraces or would this not be required with 6.5m anyway?
There is no other immediate planning restrictions that spring to mind as the side elevation is next to a car park and there is ample rear garden space. There would be enough room for one car on each driveway.
Any advice would be greatly appreciated before I submit my offer.
Also current situation is thus:
full time employed with 5 BTL properties in sole name and 1 home residence.
1 x btl property in ltd company
What would be the best strategy for the semi?
Buy semi in sole name and move in whilst build new in sole name/LTD?
Then move into new build and sell semi?
There would be potential to stay living where I am although I may struggle with finance to fund the build.
I’m single and flexible in terms of where I live. The houses in question are on my road anyway so happy to move!
Any advice would be greatly appreciated!
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.
Advice and implementation provided by a practising Barrister-At-Law with £10,000,000 of Professional Indemnity InsuranceBook Now
Next ArticleTenant in, no agreement and agent not sending rent?
|“Account”||means an account required to access and/or use certain areas and features of Our Site;|
|“Cookie”||means a small text file placed on your computer or device by Our Site when you visit certain parts of Our Site and/or when you use certain features of Our Site. Details of the Cookies used by Our Site are set out in section 13, below;|
|“Cookie Law”||means the relevant parts of the Privacy and Electronic Communications (EC Directive) Regulations 2003;|
|“personal data”||means any and all data that relates to an identifiable person who can be directly or indirectly identified from that data. In this case, it means personal data that you give to Us via Our Site. This definition shall, where applicable, incorporate the definitions provided in the EU Regulation 2016/679 – the General Data Protection Regulation (“GDPR”); and|
|“We/Us/Our”||Means Property118 Ltd , a limited company registered in England under company number 10295964, whose registered address is 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB.|
|Name of Cookie||Purpose||Strictly Necessary|
|JSESSIONID||Used only to collect performance data, with any identifiable data obfuscated||No|
|__cfduid||This cookie is strictly necessary for Cloudflare's security features and cannot be turned off.||Yes|
|Name of Cookie||First / Third Party||Provider||Purpose|
|__utma, __utmb, __utmc, __utmt, __utmz||First||Helps to understand how their visitors engage with our website|
|_fbp||First||Helps to understand how their visitors engage with our website|