Catching up with friends and former colleagues I have spent much of that time talking about the “North East”! As I sit here planning my next visit up “North”, I have been reflecting on why the North East is such a gem….. Without doubt, everyone I have spoken with has been helpful, friendly and knowledgeable in their fields. Not only does the North East have four of the country’s top universities; it is a growing appetite for innovation led projects and wind farm technology.
For us who are investing we don’t want to shout too loudly about things…. Amazon are ahead of the curve (as always) with a large centre in Darlington. More recently power company HIP is indicating they want to build a cable factory in the North East – a £21 billion project creating 15,000 jobs! Both the Port of Tyne and the Port of Blyth have been developing significant expertise in wind farm technology and in the offshore energy sector and are well equipped to access the skills needed.
In addition to the obvious growth opportunities, our investment area has a cluster of great secondary schools, an established metro system, good road infrastructure, strong employment hubs and many business parks. Price point to enter the BTL Investment market starts at around £80,000 East of Newcastle Upon Tyne, with other areas starting much lower.
If you are thinking of investing then here are a few things to consider:
- Do you have the time / experience / money – if not then find a reliable partner to fill the gaps.
- Do you want a job or to be hands off – this may impact your strategy.
- How much money do you have? Do you want to buy in cash and follow a BRR model to leverage or would you prefer to buy in cash only?
- Have you considered all your funding options – did you know if you are running a Limited Company you may be able to take control of your pensions and loan money to your business?
- What is the timeframe for your plans – 1 year, 3 to 5 years or up until you retire (building a portfolio of assets to make your money while you don’t work?)
Don’t overlook the North East, like I said it really is a hidden gem!
If you want to find out more about the services we offer and our approach in the North East, then please reach out.
