Forum Home Search Login Register
+  Landlord Forum
|-+  General Category
| |-+  Landlord Advice & Help
| | |-+  Perfect number

Perfect number

Pages: [1]
Print
Author Topic: Perfect number  (Read 391 times)
Newbie
Posts: 4

I like property

« on: March 30, 2021, 01:58:15 PM »

30-03-2021, 08:34 AM

I'm just looking for general opinions based on experience.

I've been dabbling on residential properties for 18 years and when i started i managed to aquire 7 btl's. Over the years these on average net me 1500 pa after all expenses and maintenance.

With my basic maths I'm planning to up scale to 25 properties - in know this sounds like a big jump - I have everything in place - finance, properties, mortgage broker...... and in my time I have encountered all situations and deal with them pragmatically.so I am not phased by responsibility adversity.

So getting back to my point can anybody share a similar experience.

When get to the magic 25 I will sell my other business, which requires a lot of my time and start my new life with 150k tax free.

I will get the properties managed as I can then be more or less retired. Thats the plan anyway.

I will be 51 when the plan works.

Global Moderator
Hero Member
Posts: 3963

I like lots of things

« Reply #1 on: March 30, 2021, 02:39:22 PM »

...i managed to aquire 7 btl's. Over the years these on average net me 1500 pa after all expenses and maintenance.

Hardly seems worth it. You'd want, at least, that per month.
Global Moderator
Hero Member
Posts: 1160

I like property

« Reply #2 on: March 30, 2021, 04:49:54 PM »

I think he means 1,500 per property surely?
Global Moderator
Hero Member
Posts: 3963

I like lots of things

« Reply #3 on: March 30, 2021, 10:04:36 PM »

Maybe numbers aren't his strong point.
Global Moderator
Hero Member
Posts: 1160

I like property

« Reply #4 on: March 31, 2021, 11:08:58 AM »

Assuming that you are getting that net profit per property pa,how many years do you have left before taking your early retirement? Is the 150k tax free the sum you think you will get by selling your existing business? You could live to 90 or more.Speaking as one who bottled out at 6 modest btls I am maybe not qualified to advise.I did have all sorts of big ambitious projects in mind at one point,but close examination threw up all manner of potential hazards,and I am not a gambler by nature.In your situation I would be scared of losing the things you have already worked hard to achieve.Others may be more positive about your plans. 
Global Moderator
Hero Member
Posts: 3963

I like lots of things

« Reply #5 on: March 31, 2021, 12:09:03 PM »

Over the last few years... mortgage interest cash grab... SDLT kicker... EICR introduction... Tenant fees ban... and more. Does the future bode well? I have asked the question here before... but who, exactly, do we think is going to start paying back all this Covid debt? It isn't the kind of people that were furloughed and then made redundant. It isn't the big businesses in travel and transport and holidays and accommodation and entertaining... they have suffered enough. So... you can see some eager - narrowed - eyes of those in Government looking our way. My plums are ripe for plucking.
Global Moderator
Hero Member
Posts: 3963

I like lots of things

« Reply #6 on: March 31, 2021, 12:13:23 PM »

54162526284365847412654465374391316140856490539031695784603920818387206994158534859198999921056719921919057390080263646159280013827605439746262788903057303445505827028395139475207769044924431494861729435113126280837904930462740681717960465867348720992572190569465545299629919823431031092624244463547789635441481391719816441605586788092147886677321398756661624714551726964302217554281784254817319611951659855553573937788923405146222324506715979193757372820860878214322052227584537552897476256179395176624426314480313446935085203657584798247536021172880403783048602873621259313789994900336673941503747224966984028240806042108690077670395259231894666273615212775603535764707952250173858305171028603021234896647851363949928904973292145107505979911456221519899345764984291328 is perfect. Apparently.
Full Member
Posts: 138

I like property

« Reply #7 on: March 31, 2021, 12:51:39 PM »

The last post has stretched out the screen and made the whole thread unreadable.
Global Moderator
Hero Member
Posts: 3963

I like lots of things

« Reply #8 on: March 31, 2021, 02:47:29 PM »

You'll get over it.
Newbie
Posts: 4

I like property

« Reply #9 on: April 01, 2021, 08:27:58 AM »

Hi, its 1500 per property after all expenses. The idea behind residential let's is the fact that they sold off more easily then a multi unit, or retail unit.....   so when the time come my income could be boosted as and when.   



Newbie
Posts: 4

I like property

« Reply #10 on: April 01, 2021, 08:52:50 AM »

Assuming that you are getting that net profit per property pa,how many years do you have left before taking your early retirement? Is the 150k tax free the sum you think you will get by selling your existing business? You could live to 90 or more.Speaking as one who bottled out at 6 modest btls I am maybe not qualified to advise.I did have all sorts of big ambitious projects in mind at one point,but close examination threw up all manner of potential hazards,and I am not a gambler by nature.In your situation I would be scared of losing the things you have already worked hard to achieve.Others may be more positive about your plans.
yes that is per property, but this year it was 2500 ave per property.

I don't see it as a gamble as I can always get my money out, but this will be a 25yr plan, with rental income being my goal. 

There are more costs involved buying properties than when I did in 2003, but they all go down as cost when selling the properties.

I hope to retire in 3 years
Global Moderator
Hero Member
Posts: 3963

I like lots of things

« Reply #11 on: April 01, 2021, 10:22:44 AM »

If you don't see the PRS as a gamble then you don't understand the PRS.

In 25 years won't everyone be 3D printing their own houses, in a day or two, with a machine they hire from HSS over the weekend? I suspect that they might. 25 years is a really long time in the current technological climate.

Screw that... they'll be 3D printing their houses in a day or two on the bloody moon!

For me, I always planned to stop at 10... that's because I self-manage... and 10 is enough to keep me busy... and will be enough to keep me busy (not bored) when I retire. I will keep them until they're worthless... because hiring that 3D house printer will be expensive for many years to come and some Tenants just won't be able to afford it, still.
Pages: [1]
Print