All Forum Posts by: Jennifer S.

Ok starting to get a bit of motion on a possible Zoom. Looking to target
Feb (my school has Feb break a week earlier than most US schools so
looking at end of Feb). Seems like I'm hearing a bit more from people in
the US with UK properties. Therefore I'm going to tailor towards US
time zone. Giving a heads up that I will be setting up a Zoom last week
of Feb (e.g. 27th onwards). Looking forward!

Ok starting to get a bit of motion on a possible Zoom. Looking to target Feb (my school has Feb break a week earlier than most US schools so looking at end of Feb). Seems like I'm hearing a bit more from people in the US with UK properties. Therefore I'm going to tailor towards US time zone. Giving a heads up that I will be setting up a Zoom last week of Feb (e.g. 27th onwards). Looking forward!

That sounds good. How do people want to proceed? Zoom? Chatting on here?

https://www.biggerpockets.com/...

I tried to add you onto the page "London Property Investors" where there is a small group possibly getting going again. I couldn't seem to tag you so I posted the link here. Happy to combine these efforts

Cool. London or outside London?

Sounds good. Were people thinking a forum / chat here, a Zoom, an in person meet up? (I know in person may not be that easy for Tiffany).

Here are things I'm currently researching:

-AirBnB rules in London generally as well as specific block of flat AirBnB rules

-Do blocks of flats have the same complex dynamics like condo associations in the US (e.g. harder to get mortgages if a certain percent of the building is rented out as opposed to owner occupied)

-Are flats above shops really such bad investments?

-How hard is it in practice to get permission from the freeholder to do an extension to a flat

-Auction documents reviewing/legal advice

(I already know the part of London I'm targeting and have worked out the US/UK tax impact of buy to let)

I appreciate biggerpockets doesn't have too many UK/London members but thought I'd give it a try to post here.

-Looking to find a lawyer / advisor to help me review auction docs.

-Also could use some references to mortgage brokers for buy to let.

-And finally, tips on engaging with architects to get creative problem solving done

In 2020 I hired an architect with good online reviews but it wasn't a great experience for me.

As an example, this architect was adament that I would NEVER get approval for a roof terrace. Meanwhile the other day I was walking down the street and saw a lovely roof terrace that someone got permission for and constructed! And, on Zoopla I saw a stunning flat with my dream roof terrace. So they also somehow got permission to: add space on the top of a Victorian flat and have a roof terrace where the entry to it was accessed by amazing glass sliding doors. I think I will look up these 2 properties on the Council's planning portal and try to contact the relevant architects.

I also saw just yesterday a cool office pod at the end of a pretty small garden at the back of a normal Victorian terrace. Seems like fairly straightforward approval for these if they don't need plumbing. Let's share ideas here...

(Side note, I know the UK is kind of melting down financially at the moment and just had a 38 day Chancellor of the Exchequer, but I'm hoping we are nearing bottom and hence a good time to start investing again)

Hi, I'm happy to connect, let me know. I'm based in London. Just heard from an acquaintance who is retired based off of buy to let rentals in the North, who said the property meet ups here are in the UK are no good in his opinion. It's a shame because I've been to some great ones in the US in the past. So let's definitely electronically meet up at least. With interest rates, currencies and property prices moving so quickly right now, I'm starting to look again at the London market which I haven't done in a few years.

Hi Tiffany, interesting project. I haven't borrowed in the UK in a while so I'm asking a contact if he recommends any mortgage brokers. What is your buy thesis on this property? I'm seeing substantial price reductions on some types of properties/some areas in London, albeit from a high base. On the other hand I have a contact trying to go from 2 to 3 bedrooms in her area of London and sees nothing remotely adequate on the market. So a bit confusing at the moment. Happy to discuss UK market, let me know. Tax is hyper specific to an individuals circumstance but happy to share what I have learned over the years.

Those ADU figures look great. Could you share how many square feet your studio turned out to be? Still 425 sq ft? $1800 for that size is a great number. I'm considering ADU opportunities in Maine perhaps and was happy to see a success story somewhat nearby. (I know that Burlington commands higher rents than other places in New England). How long did the conversion take and was the paperwork / construction onerous? Many thanks and congrats again!