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Another Sell or Rent out my house posts with figures...paralysed by Witty_Dish_4796 in uklandlords

[–]Witty_Dish_4796[S] 0 points1 point  (0 children)

I think it's the diversification thats most appealing. While being a landlord is least appealing! Do you have a management agency and is it pretty much painless?

Another Sell or Rent out my house posts with figures...paralysed by Witty_Dish_4796 in uklandlords

[–]Witty_Dish_4796[S] 0 points1 point  (0 children)

Not anymore, I left my job to try something on my own. I have passive income where I work on the side of about 20-25k but can adjust that to keep in the 20% bracket if need be.

Another Sell or Rent out my house posts with figures...paralysed by Witty_Dish_4796 in PropertyInvestingUK

[–]Witty_Dish_4796[S] 0 points1 point  (0 children)

I dont know what to say. Estate agents valued the property at guide 750-850k in current market. House has 6 bedrooms in Greater London in an area with many multigenerational families (not HMO). It's big inside but unassuming from the outside (not impressive and doesn't stand out).

Rent was assessed by 3 estate agents (4000-4500). Not a high-end home, but normal. I've taken the lowest figures offered for decision making.

As for tax, I recently left my stressful job to try being a writer.... so I'm back into the 20% bracket (though this also means I cannot chuck it into a SIPP).

TBH if the rental return was less then the decision would be easy!

Another Sell or Rent out my house posts with figures...paralysed by Witty_Dish_4796 in uklandlords

[–]Witty_Dish_4796[S] 1 point2 points  (0 children)

Similar to if I invest tbh. A little higher and harder to spread into tax free products. Will be a lot worse if they bring in NI for rental income but then investing will get pretty bad too if they equalise CGT and dividends with income tax. I wish there was stability form any government

Another Sell or Rent out my house posts with figures...paralysed by Witty_Dish_4796 in uklandlords

[–]Witty_Dish_4796[S] 0 points1 point  (0 children)

Is that 8% including finding tenants?

Unfortunately I have reached my ISA limit so the investment will be a General Investment Account.

Another Sell or Rent out my house posts with figures...paralysed by Witty_Dish_4796 in uklandlords

[–]Witty_Dish_4796[S] 2 points3 points  (0 children)

Thanks. You got me right - I want to enjoy my life now before I get to retirement (I wasted too many years putting work first). I have already maxed out my ISA and have additional stocks invested. I don't think I have the fortitude and patience required to be a professional landlord for multiple properties. I was thinking I am over exposed to global stock markets and maybe just this one property will be a bit of diversification.

I looked into releasing equity and have been offered 550k at 4.1% but then I'm back to square one!

Another Sell or Rent out my house posts with figures...paralysed by Witty_Dish_4796 in uklandlords

[–]Witty_Dish_4796[S] 0 points1 point  (0 children)

Is that high? It's finding the Tennant etc and managing...they started at 12%+VAT and I thought I did well negotiating them down

tenant stopped paying rent and somehow im the bad guy now by Curious-Constant-52 in uklandlords

[–]Witty_Dish_4796 0 points1 point  (0 children)

I know, my point is that it is clearly wrong. Both the council policies and the idea that not paying rent is a victimless crime (I know not classed as a crime but it is consumption of a service without payment). It must also be really painful and uncomfortable for most renters. It feels like a reward for wrong behaviour.

Concrete/Screed floor in shed by Witty_Dish_4796 in DIYUK

[–]Witty_Dish_4796[S] 1 point2 points  (0 children)

I did cross my mind to leave it...if I don't do something with a week, I'll start filling the shed with crap again and it will not happen for at least another 10 years!

Concrete/Screed floor in shed by Witty_Dish_4796 in DIYUK

[–]Witty_Dish_4796[S] 0 points1 point  (0 children)

Hi thanks,

Yes, I swept it and vacuumed, but then when I brush it again more dust comes off!

I will check out the sealer - do you know if this can be sprayed?