All Forum Posts by: John McKeirny
John McKeirny has started 1 posts and replied 4 times.
Quote from @Rafael Pinho:
Hi @John McKeirny, have you looked into the financing options in the UK? Are DSCR cash out loans available and similar to the US ones?
Yes, this is a good reference: https://dscrloan.uk/dscr-cash-out/
Quote from @John Chong:
Not familiar with the UK market but if you did your research and the numbers work then should be fine. That house has a big backyard.
And yes, that yard is large. Think of all the BBQ'ing you could do!
Thanks all. The numbers look pretty good. I got in touch with a local property manager, who scoped out the place for me. He thinks that I will need to invest about 20,000 pounds to refurb, but then I could rent for 1,400 pounds a month. For full management, they take 11%, so that puts me at 1,250 pounds per month. What I did not realize is that the renters are responsible for not just utilities, but also property taxes. So that 1,250 pounds a month is solid AND if I convert to $ that is $1,600 a month. Unless anyone can find a flaw that I am missing, I think I'm going to go for it at the end of the month.
Hi folks, I'm looking to diversify my BRRRR portfolio overseas. With the UK housing market essentially tanking, it seems like a good time to buy property in the UK. What are your thoughts? I think I found a good property for getting my feet wet, a fixer-upper outside of Oxford, a big student town. https://www.rightmove.co.uk/properties/136959422#/?channel=RES_BUY What do you think about the place? Thanks for the advice.