All Forum Posts by: Haresh Rane

Hi Joshua,

Thanks for your reply and welcoming me on your forum.

I started out last year and we been focusing on buying 3 bed flats in Central London. We (me and my wife) tent to focus on buying council (government built) properties which are relatively cheap to buy but provide great cash flow. We started out buy refinancing our own house and releasing some equity we built in over years. Used the money to put 15% deposit in our first investment property. It’s a ground floor 3 bed split level maisonette flat needing a complete refit. We completely refitted the property with new kitchen, Bathroom, new floor, painting etc. Rented it out. After 3 months had it revalue at 15% more price than we originally purchased and got second mortgage to borrow money from property. Then bought our second 3 bed flat not far from the first one.

Our plan was to continue, buying properties with transitional 15% deposit route but by then market changed and our lenders became very restrictive on further lending on existing investment properties. So we couldn’t refinance out existing properties to release equity from them to buy more properties.

Since then we came across buying properties 25-35% below market value and structuring deals with none of our own money. Since then we bought two free hold houses outside London (one in south wells and one in NE of England). Currently working on one more similar deal which should be completed in next couple of weeks.

I recently started advertising in via leaflet distribution and advertisement in local news papers to distress properties sale and hoping to buy few properties in London using no or minimum o four own money.

I will stop here before this posts get any longer and boring :)

Feel free to contact me if you need any specific information.

Cheers
Haresh

Hi Folks,

I am from London, UK and currently own few properties in and around London. I work full time as free lance IT Consultant and invest into property part –time. Being a typical buy and hold landlords, I tent to focus heavily on cash flow from properties. Lately I have opted ou to buying below market Value properties with little or None of my own money and that’s quite eye opening for me. I know there are many switched-on property investors hanging around on this forum and I was hoping to learn some new tricks from the pros with regards to property investing.
Mean while feel free to contact me if you need any information on investing in property in UK, I will do my best to give you information to best of my limited knowledge!

Cheers
Haresh