All Forum Posts by: Cian Hanley

@Nathan G.

Thank you.

I actually am saving the tiny amounts of money i I have now, to get books focusing on being a landlord and managing rental property's. Then I want to get myself a book that teaches me about mortgages in particular and strategy's around them, such as BRRR I think it is? I have no idea how remortgaging works and I am at a stage where I am aware of how unaware I am haha.

So a few books will help. I’m actually reading the Highway Code right now, so eventually I’ll be reading all day. Thank you again for your input.

All the best!

@Dan Sheeks

I just read it. I am extremely appreciative of the blog. Around credit score, I heard the best time to get them is at 18, since I think you get lowered score for taking credit out? But after two years that goes away.

For my job(s) - I plan to first just get a little job whilst in college, after I turn 18, invest in a bike, continue that job and work for Uber Eats (which according to google is 8-12 an hour) so I’ll have a consistent job and a side hustle. Also if I find, these jobs are not draining me and I’m still on top of college, I’ll look at a night shift. So I could potentially have 3 sources of income.

House hacking has been the go-to strategy according to everyone I see. I’m really curious since I cannot find a comparison between House hacking - BTL student accommodation.

So if you or anyone could just clear up the good and bad of both, that would be amazing.

Thank you for the blog, looking out for the younger ones.

@Marlen Weber

Thank you so much! Hopefully it works out for me.

@Charles Carillo

Thanks for the reply!

I just did a look of FHA loans in England, I see benefits such as only needing a 3.5% deposit at best, low interest, ext. I also see I can rent the place out as long as I'm living there?

Is this something I can only do once?

I would preferably get a buy to let since renting through rooms (to a target audience of students) can offer 8% net rental yield. (That includes me paying their bills and WiFi)

I just figured that starting from a 4 bedroom house can reap much better reward, assuming I get 25 years of only interest, in them 25 years, I can build up my portfolio snowballing to a amount big enough to either pay off, or just give highly monthly payouts. If I can’t pay the house back, I’ll sell.

However obviously I’m looking for the best strategy to start. Being 16, I’m taking this extremely seriously since I know if I can manage this early on, I get that snowball effect much quicker:

So I suppose my questions are

1) how many FHA's could I get?

2) what is my actual strategy, what am I trying to accomplish.

3) comparing the buy to let to the FHA, what are the advantages in both areas.

Thanks for responding, highly appreciated.

@Alexander Vest

Would you not rather do them yourself? If you can invest in a canon 4000eos (£400) then that’s all you would really need. Maybe use a tiny bit of light works to brighten your photo up. I don’t own property yet but as a photographer, I can promise it’s not hard to take photos of the property and inside. Just have a good sunny day and it instantly makes it look good.

Also the upside to this is that if you plan to add more property, you never have to pay anyone to do it.

Just my two cents though, if you would prefer someone that has experience then that’s completely understandable.

Hope this helps!

I’m still very new to real estate. I was able to make my own spreadsheet which was able to show the estimated net cash flow. However, something I still haven’t fully understood is house hacking & how to get mortgages.

For example: how do you house hack if a buy to let normally doesn’t allow you to live in it, or the other way round a residential mortgage won’t allow you to rent it out.

I also don’t understand how to get more than one to three mortgages since TSB only allow you to take out three buy to let’s. Does that mean I can take out other banks mortgages?

Also also, I’ve been told interest only mortgages are so much better. I believe if I get an interest only mortgage, I can put money into extra property’s which results in more money per month. Obviously I’d have to put money aside so I can buy the house at the end of the mortgage, but the advantage of interest only means I can invest in other mortgages making saving easier??

Lastly, I plan to get student accommodation as my buy to let. Since I’ve seen a much bigger rental yield which is a lot easier to accomplish due to per bedroom. Is this a good idea? Is there a better strategy for my first investment?

Also any help in general. Finding information on internet is great. Apart from every website gives different info.

Thank you in advance!