Its time to buy Posted March 23, 2008 Share Posted March 23, 2008 http://www.telegraph.co.uk/property/main.j....xml&page=1 The growth in value of our own homes and the relative ease of remortgaging that equity, as well as the cheap cost of borrowing money and the availability of buy-to-let mortgages, has made this possible. National figures are hard to come by, but Ludlow Thompson, a major London estate agency, says that 40 per cent of their 25,000 landlords are women, a figure that's rising by about five per cent a year. One woman who is not surprised by these numbers is Lisa Hulyer, who has set up a company, Property Smarts, [ www.propertysmarts.co.uk ] to train women on the ins and outs of property development and investment. Ms Hulyer believes women have a natural ability when it comes to property investment and development. Quote Link to comment Share on other sites More sharing options...
Its time to buy Posted March 23, 2008 Author Share Posted March 23, 2008 To raise the money, I talked to the manager at the Co-op Bank, and he advised me that the best way to go about it was to set up a company and take out a business loan against the equity I had in my house. My first project was a three-bedroom semi in Flixton in Manchester that I bought for £150,000. It had some land, too, and after some research into the area I realised that, with a lot of work, I could make some money on it. Structurally, the gable wall had to be rebuilt; it needed a new roof, new windows and general modernisation. Looking back, it was a nightmare for a first job and I was out of my depth. It was difficult to co-ordinate all the workmen - lots of them didn't turn up and there was a lot of hanging about. I didn't feel confident enough to do anything with the land and I sold that for £70,000 and, six months later, sold the house for £122,000. I'd spent £25,000 on the work, so after expenses I made about £20,000. Quote Link to comment Share on other sites More sharing options...
Its time to buy Posted March 23, 2008 Author Share Posted March 23, 2008 I have 14 properties, including real and off-plan. Mostly we've done this with what I call pretend money - remortgaging our own home or our other properties. I wonder what happens when pretend money disappears! Quote Link to comment Share on other sites More sharing options...
Lone_Twin Posted March 23, 2008 Share Posted March 23, 2008 They'll find out soon enough how "pretend" the bank views that money. . ST Quote Link to comment Share on other sites More sharing options...
Moo Posted March 23, 2008 Share Posted March 23, 2008 I have 14 properties, including real and off-plan. Mostly we've done this with what I call pretend money - remortgaging our own home or our other properties. Something tells me the bank may think differently about this. Looks like a serious case of Silly Cow Disease to me. Quote Link to comment Share on other sites More sharing options...
Daft Boy Posted March 23, 2008 Share Posted March 23, 2008 Something tells me the bank may think differently about this. Looks like a serious case of Silly Cow Disease to me. Don't be too hard on them, they have not long had the vote. Women need to learn by their mistakes as well. Quote Link to comment Share on other sites More sharing options...
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