馃攳
Buy-To-Let Properties for First Time Buyers - YouTube
Channel: Samuel Leeds
[0]
hey what's up on this video I wanted to
[1]
give a real practical video explaining
[3]
how to get your first buy to that
[5]
property investment the thing is we're
[14]
getting people watching my videos we get
[16]
people coming to my 2-day property
[18]
investors crash course they're finding
[19]
fantastic property deals now like great
[21]
how do I buy it what do I actually do
[23]
what are the ABC steps so let me go
[26]
through that on this video I hope you
[27]
she's super helpful don't forget to
[28]
smash that like button if you enjoyed
[30]
this video or these videos also
[31]
subscribe as well I'd really appreciate
[33]
that so what's gonna happen is you're
[36]
gonna first behind the deal you're gonna
[37]
find the property probably on Rightmove
[39]
assuming it's through an agent you're
[41]
gonna go in view it
[42]
you're gonna work out the numbers you're
[44]
gonna work out the return on investment
[45]
you're gonna check that it's a good
[46]
investment property
[48]
buy low rent high with a property
[50]
manager nearby I've done other videos
[51]
explaining this if you want the property
[54]
if you're interested in securing the
[55]
deal ring up the agent of putting your
[57]
offer now before I haven't put in an
[58]
offer I always try and get an idea of
[61]
what the landlord or the seller will
[64]
actually want so if it's on for a
[65]
hundred thousand pounds I'm just gonna
[67]
ring up and go I'll give you a hundred
[68]
thousand pounds I'm gonna ring up and
[70]
say I'm interested I like the house I
[72]
don't want to put in a real cheeky offer
[73]
but I am an investor so I'm looking to
[75]
get you know a bit of a deal what might
[78]
they accept and sometimes they'll just
[80]
say you need to put in your offer we
[82]
cannot give you a figure start
[83]
embarrassing you know I've done this one
[84]
other videos and put in your offer now
[86]
as soon as the offer is accepted as soon
[88]
as I've said yes they'll accept that and
[91]
it's very easy to get to that point the
[92]
estate is good five things from you so
[95]
you might want to start getting these
[96]
ready now before you even go out and
[98]
view properties please if this is what
[99]
you're gonna need
[100]
first thing is they're gonna need your
[101]
photo ID so it's going to be a passport
[103]
or a driver's license to know that
[105]
you're a real person secondly that you
[106]
need your proof of address which will be
[108]
a council tax bill maybe a utility bill
[111]
or a bank statement that shows your
[112]
address in the last three months that's
[113]
easy peasy next they're gonna need to
[115]
see your proof of deposit so if the
[118]
property is one hundred thousand pounds
[119]
your deposit is typically gonna be about
[122]
twenty five thousand pounds so they're
[123]
going to screenshot of your bank it's
[126]
going to show your name it's going to
[128]
show the amount of money that's enough
[130]
to cover the deposit on this house
[131]
they're gonna need a screenshot of that
[133]
next they're going to need to know that
[134]
you can finance the rest now if it's
[137]
buy-to-let here's the cool thing
[138]
bikes let mortgages are very easy to get
[141]
and sometimes people think because they
[143]
maybe only got experience of owning
[145]
their own home and not owning a
[146]
buy-to-let
[147]
they think that in order to get a buy to
[149]
let property they're gonna need to be on
[151]
a certain amount of earnings they're
[153]
going to need to be really good
[153]
financially they're gonna need to be in
[155]
a good well-paid job yada yada yada
[157]
that's not necessarily the case because
[159]
when you're financing a buy-to-let
[162]
property ie one that you're buying to
[164]
rent out the property should be able to
[166]
finance itself because you're renting
[169]
out so you'll find is quite easy to get
[173]
a mortgage on a basic by gellick
[175]
property even if you are in a well paid
[177]
job even if you're self-employed earning
[179]
five thousand pounds a year you should
[181]
still be able to get a buy to let
[183]
mortgage if the property comes clearly
[186]
demonstrate that it will it will pay for
[188]
itself which it which is very easy to do
[190]
if you've been on my crash course do
[191]
better find houses like that all the
[193]
time
[194]
getting a decision in principle should
[196]
be as easy as ringing up a good mortgage
[199]
broker and spending 15 minutes max on
[202]
the phone he should be able to give you
[203]
a decision in principle which is all the
[206]
agent is gonna need in order to then
[208]
take the property off the market once
[210]
your offers been on so you need to dip a
[212]
decision in principle from a mortgage
[214]
broker now if you don't know a mortgage
[216]
broker and you haven't been to my
[218]
training programs and you're brand new
[219]
and you're just starting out there's
[221]
nothing wrong with using the estate
[223]
agents in-house mortgage broker they'll
[226]
usually have an in-house mortgage
[227]
advisor in fact there's an advantage to
[229]
doing that in a way because that means
[231]
that the estate agent you've got an
[232]
opportunity to go into their office have
[235]
coffee with them let them get you the
[237]
mortgage that's the advantage it's good
[239]
for building rapport now the
[240]
disadvantage is usually if you get a
[242]
mortgage through an estate agency in
[244]
house the rates might not quite be as
[246]
good because they haven't got as many
[248]
lenders to choose from they're usually
[250]
more limited than a free independent
[252]
mortgage broker could be but that's
[253]
something you can need it's very easy to
[255]
get so just get yourself a decision in
[256]
principle lastly is who's gonna be your
[259]
solicitor again they will sometimes do
[261]
this in-house no problem using their
[264]
solicitor I would just recommend
[265]
speaking to some what
[267]
to someone who's an experienced property
[269]
investor and just ask them who they
[271]
would recommend because solicitors tend
[272]
to be either really really slow or they
[275]
just don't do anything at all having a
[277]
good sisters group but you need to give
[278]
the estate agent you'll solicit the
[279]
details and you can always change
[281]
solicitors so don't be like oh my gosh
[284]
you know I need to give the solicitor
[286]
that I'm gonna definitely use and I'm
[288]
gonna be married to you forever and you
[289]
for every property note just just give
[291]
them a solicitor speak to his sister
[293]
give them assist you can always change
[294]
it those are the five things you're
[295]
gonna need once you've given those knees
[297]
to edger this staging will take the
[298]
property off the market and then the
[300]
estate agent will then lays with your
[302]
mortgage advisor who's your finance in
[304]
the deal and your solicitor and they'll
[307]
do everything and all you need to do is
[309]
just phone them up every couple weeks
[310]
and say how's it going don't chase them
[313]
and be a dick don't be like hurry up
[315]
what's going on I'm paying you tip no no
[317]
because then they'll just be annoyed
[318]
with you ring them up regularly and say
[320]
is there anything I can do to speed this
[323]
up can I do anything
[324]
here's the thing when you're investing
[325]
in property when you do your first
[326]
buy-to-let property typically or take
[328]
two to four months for the house to go
[331]
through before you view it and you get
[334]
the keys which is an awfully long time
[335]
here's my rule of thumb when the ball is
[337]
in your court
[338]
ie you need to sign something or you
[341]
need to send off a bank statement or
[342]
show your proof of ID or whatever when
[344]
the balls in your court get it out fast
[346]
but when the ball is in other people's
[348]
caught you've got to be patient you've
[350]
got to be patient because if you get
[351]
super impatient you can annoy everybody
[353]
welcome to the game of property
[354]
investing it takes time so hope that's
[356]
been helpful please do smash that like
[358]
button if that was really useful don't
[360]
forget to subscribe share the video and
[362]
put your comments below I'll try and
[363]
read every single one
[364]
peace out I'll see you next time
[367]
you
[375]
[Music]
Most Recent Videos:
You can go back to the homepage right here: Homepage