My name is Steve Hirst and I have been involved in property for a few years with mixed results. My first venture was an off plan apartment in York bought at a 15% discount for 158k, that was in Dec 03. I managed to keep it tennented for most of the time, but was unable to achieve the rents I was promised,(around £800) The most I received was £625. After the interest rates kept rising I was unable to keep making up the shortfall every month, so decided to sell in Feb of this year. With lots of other apartments up for sale in the same complex I realized it was going to be very difficult. I eventually sold the place for 163K in June. I lost a lot of money, but learned a valuable lesson, don't believe what people tell you, and do your own research. My second attempt was much more straight forward, a 2 up 2 down terraced property in Doncaster, bought outright with a drawdown form my own house for 52K, and re mortgaged for 65k within a few months giving me my money back, Ive had no problems renting it using a local letting agent, Looking forward to the 100% deals through this site. Bye for now.Steve.

Hi steve
Sometimes our education is expensive. I have had my share of being educated But you won't make the same mistakes again steve. It will make you wiser and more successful.
leigh
Welcome to the forum

Steve, you're scaring me because I bought my apartment recently for £145K but £123K after discount. Like you the current rent is below the mortgage payments but I've fixed it for 2 years and I'll be losing around £2000 a year.

When I met Parmdeep, it was like a breath of fresh air and I hope I'll find better advice from this site.

Kasim

Welcome Steve

Don't hesitate to call me.

Hi Steve,

to the forums ... ...

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Thanks for the warm welcome everyone, has anyone used the 100% deals yet? Steve.

Hi Steve, and welcome to the forum,

Your new apartment was a valuable lesson. I'm contemplating churning a few I bought last year. No hurry, but when I reverted to buying good ol' terraces again, I wondered why I had ever got sidetracked with new stuff after 18 years in this game.

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Hi Steve welcome to the forum.

Hope all goes well in future deals.

Regards Brian.

Welcome to the forum Steve. Good luck to your property business and let me know if there's anything I can do to help