10 Feb 2021
Our client Jon Solitro, Director of L'impero Sol Ltd was kind enough to answer a few questions about investing in Hull and working with us as we head into 2021.
How did you get into buy to let property and what was the appeal of investing in Hull?
I've owned investment property for a number of years, 15 years to be precise, I initially started property investment in the south east of England as I wanted to be like my father who also had a portfolio of properties in the same area. In 2016 I realised that my properties in the south east had peaked in value and felt that the cash flow wasn't generating enough income for me to live the life that I'd always dreamt of, with this I decided to sell my properties in the south east and after lots of research, I purchased property in Hull early 2017 due to it being crowned City of culture.
Would you consider yourself a full-time landlord, do you have another occupation?
I'm not a full-time landlord, that is for the true professionals like Ultralets, I'm simply an enthusiastic property investor that is forward-thinking and hands-off when it comes to the operational side of things, this gives me the freedom to build my portfolio and work on new projects and strategies.
If you were to expand your portfolio, how would you go about it?
Spencer and the investment team at Ultralets are constantly keeping me updated with investment opportunities that come their way. I scour the market daily, network with other investors and build rapport with agents in the local area.
Do you see yourself as more likely to invest in more property or sell your portfolio in 2021?
I have chosen to build my portfolio rather than sell, however, 2020/21 has been a seller's market due to overinflated prices and the removal of SDLT. Please note that below market opportunities are always available so they are the ones which I've been focusing on. There could be some good investment opportunities out there over the next couple of years if the market dips
What would say about the Hull investment market?
At the moment it seems like it's pretty inflated and prices are quite high but yields still remain strong and it still remains a buoyant market.
How have you found the Ultralets service since working with them and what is your favourite thing about the company?
My experience with Ultralets has been amazing so far, I receive regular contact from the guys weekly, as a distant investor I feel that I am still kept in the loop with my property portfolio and also informed of new regulations, new products, new investment properties and information about the wonderful city that is Hull.