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I am not sure what I enjoy more- reading your property questions or answering them. Sundays are definitely one of my favourite days and these video series are part of the reason. I feel connected with you. Can your first home be a HMO or a buy to let? Find the answer to this and other property-related questions in this week's Q&A Sunday.
⏱️ TIMESTAMPS:
00:01:02 I’m currently 18 and working a part-time job. What different places you recommend I ask for work experience to build up my property knowledge
00:02:40 When negotiating a LOA, as I understand anything that is negotiated has to be put in a heads of terms. My question is when and where would you get this done and would the heads of terms template have to be written up by a solicitor?
00:03:46 Is rent to rent a non-passive strategy, would you recommend a management company to turn it passive? Is rent to rent only possible in the city you live in/nearby (so you can do tenant viewings etc.)?
00:05:47 I don't have enough money to put a deposit down on a house and I'm finding it hard to raise finance. Would you advise me to save up, wait and use my own money or try something else?
00:07:38 I’ve just turned 20. However, bought my first property at the age of 19. I plan to expand my property portfolio as much as I can throughout my 20s. Just a couple of questions when it comes to purchasing my next house, do you you think it’s better to get a fixed rate mortgage or a variable mortgage at this time?
00:08:40 Is a mortgage advisor the best option when it comes to finding the best mortgage deal from the bank, or do you try to find the best loan yourself?
00:09:24 Do you think it’s better to buy a house whilst there’s no stamp duty or shall I wait for the crash that will come after March 2021?
00:11:45 I’m buying my first home and want to rent 1 room out. I am aware I can get back £7,500 a year tax-free but what if I rent two rooms out? Which steps would I need to take? Or Can my first home be a HMO or buy to let?
00:12:45 Can you do a lease option agreement and then get a mortgage afterwards on the same house?
00:14:07 I'm 17 and looking to start a deal sourcing business in the next year or two, and I'm finding it difficult to practice on finding the ROI value of a property. Is this possible without calling up an agent and going to view the property?
00:15:22 20K savings - unemployed with the intention to focus on property investing. Is there a way to do a BRR to begin with or are R2Rs the way to go in this case?
00:15:50 I’m going to university next year and I was thinking about buying a 4 bed flat when I go for about
£250,000. That way I can charge my other 3 roommates rent and use it to pay off the mortgage. Do you think this is a good idea? Or should I just invest in a normal house?
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