All Forum Posts by: Jack Arnold

@Jia Jun Tan

For more specific to the UK information you can check out

The property Hub

The property Investors podcast

Samuel Leeds

Progressive Property

Touchstone education

.

They all have really good info and helpful FB groups

Feel free to message me if you have any specific questions or need any help from someone based in the UK!

Jack

@Andrei Lupes

Hi Andrei,

If you are investing in the UK then check out a company called Progressive Property, they run free 3 day events that show you all the strategies that work well in the UK. They have a few books if you don't want to go to the live event but they are good for networking.

Other property educators in UK are:

Touchstone education

The Property Hub

Sourced (learn)

Samuel Leeds

Hope this is useful!

Thanks

Jack

Hi @Jia Jun Tan

I am based in UK, what type of investments are you looking to get involved In? Residential or commercial and what is your main goal right now?

Thanks

Jack

Hello everyone!

I was last on bigger pockets 4 years ago! It's hard to believe.

I am in the UK market as I am based here but would like to connect with like minded people all over the world!

Our strategies and laws may not be exactly the same but time saving systems, processes and dealing with people are universal!

Looking forward to getting to know you all!

Thanks

Jack

Thank you @Lumi Ispas  for your post I think I will have to consider this but taking on another loan for a down payment on a house to put this plan into action will be have to be deliberated. If I saved enough for the average down payment in the UK I will be able to clear my debt. 

I have looked into selling my car but the negative equity which has built up on it (and a previous bad car deal prior to this one) will make selling my car not much of an advantage so I will have to tackle this debt head on. Whether or not I do this by snowballing or taking on an investment to help me out with this is what the next decision will have to be! Thank you all for the advice!    

@Nicole Pettis @Tom Shepard 

Everything is pointing towards selling the car! 

Will be a sad day but it is very obvious it needs doing.

Thank you for the Advice I am finally clear on where I can go from here now!

@Steve Vaughan 

I think I will have to, the more and more I think about it the more it pains me ha-ha. 

I will look for something that will be reliable and not too much of an eye sore and get the ball rolling! 

@Patrick Britton 

That is true and something to think about, I am just worried that the time it will take me to pay my debt is all time wasted that could have been used investing. I see what you are saying risk wise though and will keep that in mind. I have a while before I have enough saved for a deal anyway and this discussion has given me a lot of food for thought!

@Kiel J. 

  Yes I have looked into it but it will take some time for me to do this, wholesaling doesn't interest me and I still need to build a network to be able to bird-dog and get hard money in my area. 

My plan was to get the deposit for a rehab and with a little saved get it flipped ASAP to get the ball rolling and knock a little off my debt.

@Brit Foshee 

Thanks Brit! the interest rate is 18.9% I am going to the bank soon to find out if I can get it transferred on a 35 month 0% interest credit card but I am unsure if they take on that much. If I was to do this I suppose It would be easier to invest as i could make a much smaller payment, save more and invest in a flip to take a chunk out. 

I am not currently a Home Owner which does help me and I did consider house hacking but Duplex's etc are not very common in my area and compared to my current cost any vacancy period I have would cost me a lot more

@Joe Cavazos 

Thanks for your comment, I think that if I do pay my debt it might take me so long I never get around to REI but i guess its just finding a way to do it right!

I think that i will see if i can get my debt switched to a 0% interest rate with a lower minimum payment and see if i can solve the issue that way! 

Thank you everyone for your advice and I will update everyone on how my situation goes!

Thank you all for your replies!

I am currently paying this debt back with about 4 years left on the plan, after my monthly payment I am saving around $460 which is the area where I am not sure. I am not sure if I should use this money to save and invest or to pay off my debt fully. 

As this debt is for a car loan I first considered getting rid of the car to make way for another one but in my experience the car i will have to buy will cause me more problems than the monthly payment! (Constant repairs etc) also my car is free on tax at the moment. I need to spend more time on it do decide if the switch of cars will be worth it.