How To Raise Funds For Buy To Let Property Deposits | What Others Won't Tell You | BTL The Truth
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- čas přidán 5. 07. 2024
- In this video, how to raise funds for buy to let property deposits I tell you what others won`t tell you, when investing in BTL the truth isn't always clear, however, in this video I tell you exactly how it is.
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In the new2property CZcams video series, you will be provided with buy to let advise and hints and tips for investors on all things related to property UK. If you are new to buy to let, an investor or landlord just getting into property and setting up a property buy to let business or just looking for some hints and tips for UK property investors this channel is for you. Its important to speak to UK estate agents and to get your estate agent questions nailed to ensure you are armed with the info you need. I offer some invaluable advise for property investors on how to invest in buy to let and break down the buy to let steps, you will also pick up some valuable landlord hints and tips. As a beginner property investor being coached by a buy to let expert and buy to let mentor will give you all you need to know on how to BTL. I am a one on one property coach who works with property investor UK and landlords guiding them through each and every step of the buy to let process. I help those new to property investing answer the questions why property invest and where to start buy to let and I also offer an online course How to Buy To Let buy to let which is a property investing for beginners guide.
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I inherited a £80000 terrace 4 years ago and turned it into 6 buy to let’s so far me and my wife still work 9-5
Love these videos
Save -invest -work hard = easy money 💰
Hi Gavmac3,
That's some going, great effort, thanks very much for watching and for your comment.
I'm curious, the refinancing on that could maybe lead to 2 btls in a cheap area. How did you get the other 4? Savings? Cheers and good job!
Or other 3 if you count the inherited one also :)
Thanks Dan, brill video… well done on so many properties. Always fab content and proper inspirational… cheers Tina 👍👍👍
Hey Tina,
Thanks very much for watching and for taking the time to comment, I`m glad you are finding my content inspirational.
It's a great, clear video, well done and I wish you plenty of success with your channel and business!
Thank you very much for watching and for your comment, I appreciate your kind and supportive words.
Really like this honest, no BS explanation. I'm on 6 BTLs and wondering how to buy now, or even if I should buy more. I have a high salary, but high outgoings also. Food for thought
Hi Sean,
I`m glad that you enjoyed the video, thanks very much for watching and for taking the time to drop a comment.
Buying now isn't easy due to the markets conditions, however it is getting slightly easier, but in my opinion (and its only my opinion) there is still value in purchasing at the minute. Let me know what you decide to do, Id be interested to hear.
I love it! Great thinking man! I read this book and many others. I drive lorries for a living and this job is amazing for me. I learn a lot from audiobooks while driving and have a nice income from which I can save a lot. I invest in private pension, LISA and ISA and cash reserve for opportunities.
Hi Codrut,
Thanks very much for watching and for your comment.
Its sounds like your job is ideal for saving and getting educated
Have a great weekend.
@@new2property
Much respect for taking your time and reading our comments.
Thank you a lot for documenting your journey and putting so much information for everyone to acces for free.
All the best !
Going to save hard for my first buy to let . Love the videos mate 👌
Hi Andrew,
Thanks very much for watching and for your comment, good luck on saving, you`ll get there it just takes discipline.
Great content as always !
Thank you Tristan, thanks for watching and for taking the time to comment.
I do admire your idea , but I am a little bit concerned, because if you are still striving for more money after acquiring 16 properties, then at what stage or at what number of properties will you be able to relax and live off your investment? I know it’s a personal question, but investment properties generating over 4k to 5k per month seems reasonable. Or I mine wrong?
16 will basic brrr around £100k ish will bring in £2750 a month with no voids. The real income is down to capital appreciation 10/20 years down the line.
Thanks @Adam Ellis, your not far off and you are absolutely right that the real value in BTL is the appreciation over time.
@victor Edwards A simple, bog standard vanilla BTL property generates on average £250 net income pcm. 16 x £250 = £4000, my set goal is higher than this.
I really liked what you said about saving every month and cutting down on unnecessary expenses.
Hi Shakil,
Thanks very much for watching and for your comment, I`m glad that you found my video interesting.
Have a great day
The "compound effect" is a great eye opening book 👌
Hi Jason,
Thanks very much for watching and for you comment.
Thanks Dan.
You are more than welcome
Thanks for watching and for dropping a comment.
Great content as always Dan! a question if you don't mind - I imagine with 16 buy to lets you are coming to the end of fixed terms quite often, are you looking to extract equity at these points based on capital appreciation alone? or only after the 2 year fixes once you've added value.
Thanks and have a great day!
Hi Joe,
Thanks very much for your comment and for following my channel, typically I refinance once after purchase, this allows me to recoup some of the initial deposit but still take a decent net profit from the property moving into the future.
@@new2property Hi Dan, At what stage are you doing the refinance after 2 years? or are you buying them with a bridging loan so you can refinance as soon as the refurb is done? - cheers
I'm saving for my first buy to let Almost there now, love to have a chat with you great stuff mate,,
Hi David,
Great job on saving, this is typically the hardest part.
You can book a call with me on my website, www.new2property.co.uk
Thanks very much for watching and for your comment.
Have a great day
Great video Dan
Thank you Bounce Around, thanks very much for watching and for taking the time to comment
Hi Dan, sorry for asking so much questions. I was also wondering whether for the Directors loan, is this a single agreement for all the loans or do you create a new Directors loan for every single loan separately for when funding the company the deposit amount. Thanks.
Hi,
The ‘agreement’ is simply moving funds from your personal account to your business account. The transaction is recorded on your ‘books’ or accounting software and noted on your annual accounts. You do this each time you transfer funds.
I hope this helps, thanks for watching and for dropping a comment.
@@new2property thank you :)
Sir, in my community you are what we call a GOAT 🐐, (Greatest Of All Time) , keep this up
243adoni I think this has to be my favorite comment on You Tube yet, this has just made my year, thank you.
I`m glad you enjoyed the video, thanks for watching and for your awesome comment.
We follow this method too. We have 6 buy to let's so far.
Hi Keeley,
Thanks very much for watching and for taking the time to drop a comment. Great effort on your portfolio I appreciate how tough it is to build a portfolio of that size.
Hey Dan, I got your book about 2 months ago and have nearly completed on my first property. I have a made a few mistakes but I took the leap!
Great content, many thank!
Bigsmonkey,
This is amazing to hear, I`m so glad that I have been able to help you, thank you so much for letting me know.
Good luck with your property.
I'm really glad someones been honest about how they get property, people seem to believe its easy and quick. So thanks. The BRRR method, don't you just end up with a bigger loan on the property you've refinanced? Surely making less profit? Cheers
Hi lets have a go,
Thanks very much for watching and for your comment,
You are right that when a property is refinanced the amount of the loan and subsequence cost does go up, however, if you can take all/most of the money out that you initially invested you can then buy another property, the first property although no longer a high earner will be increasing in value via capital appreciation over time, you move onto the next one and so the process continues. It's not a great way to make an income but you can compound properties that will help with long term wealth.
@@new2propertyReally appreciate you taking the time to reply. So it all boils down to having a good income or lump of cash to make it all viable, to fund the whole system. Once you've paid stamp duty on the property surely this is also another set back to actually getting your money back. Cheers again.
Hi There Dan,
I have just started watching a few of your videos.. And there interesting..
So A little about me.. I am 58 single never married I feel in savvy at saving..
But your possibly very right about expenditure..
I don't have a full time job through ill health so I am on Health benefits..
About the car scenario I have 2 convertibles one estate and on transit van.
All 3 cars are paid for my van is HP but getting near the end of 5 year plan..
So I do my hobby as a very part time courier. I also collect toy boxed cars.
These really are my only Assets..
I am not sure of your age but A STAB in the dark 38.
For many years I've been a fan of "homes under the hammer"...
I've never understood the buying processes of house purchase..(the financial side)
Even when I decided to buy my Parents house a simple 3 bedroom property In Coventry I made a huge mistake. I bought my mortgage for 12 years and how silly I was (or was I)..?
I already had my share of the property which was worth £33.750 I just had to pay my sister out.. the difference.. I sadly begged her to not sell but instead keep it as a rental asset for a older age.
Just as example, for a 5 year rental.. Our shared asset income would have been £34.500 based on £575 per month very cheap I know..
Very minor work needed doing to it like central heating.. Which would make valuation far greater. £750 per month (£45.000) once that work completed.. VARIABLE rental.
What I found at I virtually gave away my house at base price £77.000 it was able to achieve £600 per calendar month...My mortgage cost monthly was between £380 - £420 went up £40 in less than 8 months..
My health really screwed up my work part of life..
I am guessing your Leicestershire based..?
Great video and I will need to replay them to actually understand each part of each process..
Tj
Hi TJ,
Thanks very much for your informative comment and of course for watching my videos.
I wish I was 38, your close I`m 42 and Lincolnshire based so again not far off.
Can you do a renovation on a 2 year fixed mortgage to increase value? Don’t you need permission from the lender for the renovation
A lender will allow a quick turn around renovation but if you were to disclose that you planned to do a full back to brick overhall that was going to take a considerable amount of time most wouldn’t be willing to lend.
I hope this helps, thanks for watching and for dropping a comment.
@@new2property thanks Dan
Dan , When is part 2 of house 16x coming out , Keep going mate 👌
Hi JJ,
I`m done as of yesterday, I just need to edit the video and get it live, give me a couple of weeks and it`ll be with you.
Thanks very much for watching and for your comment.
Have a great day
Hi Dan. I know this is a tough to answer question, but the landlord of the house next door has offered me his property for £100k. It was bought in 2017 for £40k and apart from putting a new bathroom suite he's done nothing to it. I said there's no way it can have appreciated 150% in 4 years when the average appreciation of semi-detached properties in my area during that time was 39%. He rejected my counter offer and said it will be going to auction. Am I right in my gut feeling he was pulling a fast one?
Hi Marcus,
Thanks very much for your message and for watching my video.
You will need to workout the true market value of the property, this video will help you: czcams.com/video/c3aJsZKUo4g/video.html
Good luck and let me know if you do think its worth the 100k once you have worked out the value.
@@new2property Thank you for the reply mate. I did that very thing, and watched your video after I left my comment. I discovered that within 1/4 of a mile of the house I want to buy, two others were sold in the last year for £58k and £67k which were in similar if not better condition than this supposed £100k house.
Top video
Thanks mate, I hope your well.
When you loan it to the Ltd company from the investment account, how will you pay it back? From the rental profits in the Ltd?
That’s correct or from refinancing the property.
Thanks for watching 👍
@@new2property thanks a lot
I bet Dan never flew with few kids. They would break Dan's every ritual possible :))
Hi Avdarmaly,
Thanks very much for watching and for your comment. With kids it would be easier no? You could have them make the sandwiches before you travel :-)
Actually kids do pick up good habits from parents.
Why do you have your rental income going into a separate account rather than going into your business each month?
I would imagine it's bcause it goes into an 'instant access savings account" paying an intrest rate of around 0.7%. This makes sense, because less than £10,000 isn't worth putting into a company account, as it won't cover a deposit or pay for any major works or improvements. Personally, I think it would be better to transfer money to the company account every £35,000 or above, but it seems that Dan tends to buy low-priced properties (due to the area he has his portfolio in). For example, on a £200,000 property your stamp duty would be £7,500 + deposit £25,000 + legals £2,000 approx = £34,500. For (possibly the wider majority of) investors, any less than that wouldn't be "usable" and therefore would be better placed earning some interst in a savings account rather than sitting dormant in the company account. Hope this helps
Hey Francis,
Thanks very much for answering and you are spot on.
There is little point me transfering low funds into the business account simply as it wont be used until the pot reaches approx. £35k. In honesty I move at 10k just because it's an easy number to spot on my statement and typically when my personal account hits 10k there is usually enough in my business account to total 30/35k which means I can go again.
I hope this helps @bikes of Rye, thanks again Francis.
U just described my missis new iPhones designer bags etc etc 😂 showed her the vid she just looked at me
This comment made me chuckle, I dont think your the only one No.610_Tyrone
Love the fact you showed her and she just gave you the look, brilliant.
Thanks for watching and fr your comment.
The first 2 minutes.... Perfect advice!! The rest of the video is great aswell 😂
Hey David,
How are you, thanks very much for watching and for your comment.
10:25 most people smoke 20 a day 20 Is in a pack a pack is like £10
Kills your lungs and motivation
Hi Soy Boy Personal Finance
Thanks very much for watching and for dropping a comment.
Did he say 2,000 a month a side? OK now my question is what is your day jobs?
Hi Pierre-Edouard Ginape,
I have a large paper round :-)
I performance coach corporate professionals as my day job.
Thanks for watching and for taking the time to drop a comment.
MATE ---- i allway s have a packed lunch done myself !
cos i do not trust my missus not to poison me lol .
ps ---- saved me a bloody fortune also !
Hi Paul,
So I do have a pack up pal and here was me thinking I was the only one.
Thanks for watching and for your comment.
👍👍👍👍👍👍👍❤️
Thanks very much for watching and for your comment Nabaz
Hi Dan, would be interesting to know at what age you started buying property and how long it has taken to acquire all 16. Thanks
Hi Sam,
This video should answer your question: czcams.com/video/55G1LwImL5M/video.html
Thanks very much for watching and for your comment
@@new2property thanks Dan, I’ll give it a watch now.
@@samwalter17 you are very welcome
Resource vs recourse....
Hi N.S
Thanks very much for watching ad for your feedback its appreciated.
@@new2property that wasn't feedback; that was the teacher in me. The feedback is that your videos are great and you have great credibility. You are genuine.
Yes but it also means you haven't lived for 20yrs and may be considered as a tight wad.
Surely all is a balance, yes a few pounds here and there could be saved but also we must enjoy the journey as well as the destination is not assured.
That said delayed gratification is a good habit to have.
Balance live life
Hi Stuart,
Thank you very much for watching and for taking the time to comment.
You seem to have made the assumption that me being "considered a tight wad" by others such as yourself would have an effect and possibly influence my desire to stockpile investment funds, you would of course be wrong. How I am perceived has no relevance to my wealth building strategy, I agree that there should be a balance, however, my idea of balance obviously differs to yours and unlike you I wouldn't make the mistake of assume everyone is the same.
I can assure you I am enjoying my journey, personally an overpriced, processed sandwich on a plane just doesn't tick my "living the dream box".
Thanks again for watching and for your comment, I'll be sure to use the add revenue I have received from your time on my channel to "live life"
@@new2property thank you for the reply,
I did say "you may be considered a tight wad" not necessarily by myself and just pointing out whilst trying to scrimp and save, a balance is important.
I actually agree on many points but I would hate myself personally to over do the cutting of the expenditure and would rather focus on achieving extra income.
It's a balance in the same way as loosing weight in my opinion.
You can focus on diet or exercise but true rewards are in the correct balance.
I'm just pointing out your focus seems tipped towards the trimming of expenditure and less towards gathering income.
It wasn't meant as a criticism more an observation.
At my own age if I followed your advise I could be deceased before I attain the reward.
Circumstances of the individual perhaps moves the balance towards eachothers perspective.
Everyone's perspective is important and all information such as yours is good to make informed decisions or tweek there finances.
Best regards S