I have a flat that I currently rent out and it is on buy to let mortgage. I would now like to grow my portfolio and buy a couple of more properties to rent out. Questions is how do I finance this?

I have around £50,000 equity in the flat, am I right in thinking I use this equity to put down on a mortgage for the next property?

Just don’t understand how it works, as some people have portfolio of millions but surely their ’salary x 4′ does not equal anywhere near this? For example - If my bank is already lending me £50,000 on a mortgage and the flat is now workth £100,000 and I not want to borrow another £100,000 but that will go way above my ’salary x 4′ how can I get this mortgage? Am I totally missing something in the buy to let market and how to start? I have researched property websites and they don’t actually tend to tell you how to grow a portfolio in ‘idiots guide’ fashion in terms of the finance. I have asked the mortgage company but they have said we don’t give this type of advice. Any help would be much appreciated!

Rent Back

I have taken back a rented flat, which has been left in quite a state.
several jobs need doing, and not sure where to start!

kitchen generally very dirty, also several floor tiles broken/missing. wallpaper torn off.

hallway wallpaper stripped, ghastly paint job. also several tiles broken (after damaged carpet taken up).

main living room just a mess, carpet has food etc trodden in.

bathroom- bath needs resurfacing, and tile surround regrouting.
many thanks for all the ideas- impossible to pick ‘best’ one, so give yourself all a gold star each!

i will be living here for a while now- was renting out while travelling abroad..

raggedey carpets have gone, and kitchen looking a bit brighter already. wil probably need a few replacement tiles to nake surfaceeven, before putting some lino down all around.

Passive Income

My sister is the legal guardian of my mother and needs to sell her house so she can use the money to fund my mother’s expenses of living in a retirement home. She is using this real-estate agency: www.assist2sell.com to sell my mother’s house. Would you recommend using this type of agency which charges a flat-fee for selling houses? If they charge a flat-fee then they will not have the incentive to try to get the most money for the house because they get the same amount of money no matter what it is sold for to others? I think using a real-estate agency that gets a percent of the selling price would be the best way to go about it. They will try to get the most for the house because the more they sell it for then the more they make. The assist2sell incentive would be to sell it as quick as possible at a lower price so they can collect their money and be done with putting time and effort into selling it. They don’t care about getting a good price for the house. Which is the best way to go?

Quick House Sale

Ok, so I have about 30k in unsecured debt. (To make a long story short I was unable to get FAFSA help and used credit cards instaead to pay off school). I make about $2000/mo and I am in a DMP paying 610/mo. The card I left out has a 100/mo payment and the loan that would not accept the DMP is $220/mo. I am living at home paying $300/mo rent. I plan to move to Tampa FL in about 9 months, so i need to have some kind of savings to secure an apartment and pay moving fees. What is my best option to get a lower monthly payment and have some savings for my move. I am thinking Debt settlement, but then apartments may not approve me and I may not be able to get approved for student loans(i am getting my BSN). Thanks.
I am not trying to open a business. BSN=Bachelors of Science in Nursing. (sorry for any confusion)
I plan on looking for a program which will pay my nursing tuition in exchange for working for them for a few years (I love the Tampa area), and I have a second job as a promotional model (I work 2-3 gigs a mo making about $300/mo) and a third job as a cocktail waitress making about $200 each night I work (2-3 depending on school). I am trying to use that money to pay off the card and loan not in the DMP (which surprisingly caused my FICO score to go up once I joined)

Sell and Rent Back

i have to identify whether it is civil or criminal or both and which specific area of law involved adn discuss the key issues which are likely to be raised in court -

Amanda had bought and renovated a large house which was converted into student flats, because she was running short of money during the conversion, Amanda decided to buy some second-hand gas heaters which she serviced and installed herself, despite not being
qualified to do so. unfortunately, one of the heaters malfunctioned,
allowing poisonous fumes into on of the flats.One of the students, Boyd was killed.His girlfriend, Celia was made seriously ill and had to spend weeks in hospital.
(this going towards my gcse coursework grade, so any information you know will help)

Real Estate Professionals

I have wavy hair ( I am a latina), and I have to flat iron it every morning.
It’s time consuming and damaging, I’m looking for a quick, inexpensive fix. Regular straightening shampoos don’t work, and all the crap I use on my hair (pomade, silk therapy, the list goes on) doesn’t help either. I can’t afford that japanese hair reconditioning. I could afford those ones they sell over the counter. Do they work, and what are the results?

Quick Property Sale

Holy crap. Things got WAY out of control here in Florida. Wages stayed flat for years while the housing market skyrocketed here. The only folks buying homes (and there were alot) were folks that brought alot of money from up north after they sold their home in New York or wherever or speculators would invest heavily hoping to make a quick buck. Actually, I hope the people that the speculators that drove the price up really suffer financially. According to major newspapers here in Florida, this may even trigger a recession.
What I am really getting at here is that I hope for a market correction.

Sell and Rent Back

Hello,
I need to rent a flat in London with 2 other friends.
What are good and cheap areas where to live?
It doesn’t matter if it’s North or South london, we just need the area to be well connected to the center of London.
Please help us!!!!
Every suggestions will be welcomed!!!
Even if u know somebody who’s renting a flat!!!!
Thanks
xxx
Roberta

Rent Back

Myself and my Mum have lived in our house for 25 years. My parents started buying the house back in 1985 and in the early 1990’s during recession and the house coming into negative found themelves on a government iniative scheme which allowed my parents to sell the house to a housing association. This was all well and good and we have been tenents of the housing association for the previous 18 years always paying the rent on time with no issues, taking pride in our home… our home is our life!

This morning we have recieved a letter which tells us that our property needs reviewing and will be done so next week (very quick moving from an association which normally takes weeks to send out plumbers or electricians!!)… with that we were a little confused and worried so my mum has contacted the Housing Association who have in so many words told us they want to rehouse us.
Me and my Mum are devestated, this place has always (for 25 years) been our home and we never thought as ‘assured tenents’ this would ever happen to us or beable to happen to us.

We are just looking for some general advice…. how is it possible for this company to be able to do this after 25 years living in this place? also the likleyhood is as i am no longer a dependant they could re-house just my mum into a one bedroom flat… any information would be much appreciated.

Many Thanks

Rent Back Fast