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challisj

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About challisj

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  1. Hi there. I source (and live in Nottingham) having my own portfolio and managing properties on behalf of others. Sounds like you have come a long way with your research. Advice on financial structures and mortgages really needs to come from a specialist tax accountant and a BTL mortgage broker (I can recommend a few Nottingham based people) but if you want to discuss Nottingham and the variety of BTL choices it provides please do get in touch. The first task is to narrow it down to a few postcodes otherwise Nottingham options can be a bit overwhelming. Like Liverpool streets and areas can vary markedly, sometimes even just as you turn the corner from one street to another. Look forward to hearing from people interested in Nottingham if you think a conversation would support your journey. Jonathan Challis E: Challis8@gmail.com M: 07847 303273 W: BespokeNPS.co.uk Eventbrite: Nottingham Property Circle Share - Learn - Build
  2. Hi Tom Thanks for laying out your structure. It all sounds sensible and achievable and amazingly long term. As Andrew has said be prepared for your ideas to change as you learn more and get experience. (After all we learn from experience don't we?!) In your initial research it might help to chose a specific city since otherwise you might find you are lost in research into the ups and downs, strengths and weaknesses of multiple cities. The choice may well be a little arbitary initially but making a choice might help refine your plans. I myself invest in Nottingham but then I chose to live there very consciously so that choice has informed my investment strategy as well. Do keep us informed as your plans develop perhaps or get in touch directly?
  3. As always the challenge is in the fundamentals and predicting the future appeal. As our lives and society changes that may well change (consider how people have moved from flats to houses and back again over the years). I would just add that access to facilities such as shops and services is also crucial to many people's choices. If you are going to have to queue or go shopping at unusual times you want to have choice and not be too far from home I would suggest.
  4. Sound advice but just to add it is always worth checking that your accountant has the relevant property tax knowledge - not all do!
  5. Thanks for sharing. Just noted that you mention service charges of £50 per month and ground rent of £150 pa but these charges do not appear to be represented in your monthly costs (or are they elsewhere perhaps). They are predictable and fixed so feel like candidates for inclusion? Otherwise a house with the same numbers would look the same when in fact they are not comparable. The key question is can you get a better ROI on another property, with (say) lower capital cost and more sustainable rent? My maxim is if in doubt go and look at some more properties and compare like for like! Hope this helps your thinking.
  6. Hi Chris, Alan If I may be so bold as to suggest that we will be there on the evening of 12 Dec and turn out has always been good at our meetup. Don't want to predict but the more the merrier so look forward to welcoming all comers to our NPC meetup at The Lion, NG7 7FQ. Lots of activity and opportunity in Nottingham so lots to discuss. Look forward to catching up with you soon. Regards Jonathan
  7. In the end I was forced to use accountancy software to do the submission since this s/w does not have the limitations of the HMRC front end web site. I cannot help but thinking they did this intentionally to remove the need to cater for these potentially complex situations. Oh well, onwards...
  8. Anyone any ideas on this one please? Would welcome the benefit of people's experience. TIA
  9. Up to now I have successfully self managed my property affairs without the need for an accountant. I now come to submit my first CT600 for my property company (for its first full year). I have come across the following obstacles on the HMRC web site after I logged on for my Property Co.: Unable to submit rental income more than £5200 per annum Property expenses cannot exceed the rental income My rental income in the first year is more than £5200 (good) but I also had a lot of expenses so I made a loss in that first year Please can anyone help with how I submit my Corporation Tax return in this situation and other people's experience? All of the accountants I have asked have just said that I need to come to them and use 'software'. Surely having come this far I can get it over the line somehow in a cost effective manner without needing to pay for additional services that I do not need Other people's experiences who have not reached for an accountant to do it for them would be most welcome. Regards
  10. There are so many resources out there so let me suggest a few and others can add: Networking. Hearing other stories makes things real and starts to let you see what feels right for you. Make sure they haven't got anything to sell by telling you their story! Education (Free courses): Property Hub now has the University and lots of You Tube Videos. Plus don't forget all of the podcasts that are just a wealth of experience and guidance Best of luck on your journey and I hope you find the way that works for you.
  11. Hi tobzere Congratulations on putting things down on paper - now to create a 6 month/1 year plan perhaps? We have a meetup in Nottingham if you wanted to invest closer to home and we can perhaps help inform your choice of strategy. Details below or get in touch: Jonathan Challis E: Challis8@gmail.com M: 07847 303273 W: BespokeNPS.co.uk Eventbrite: Nottingham Property Circle Share - Learn - Build
  12. Hi Steve I do a lot of work in Nottingham so can probably recommend a few options for you. Depends a lot on the work required. If you send me a PM we can talk offline more easily perhaps since I do not have any of your contact details. Jonathan Challis E: Challis8@gmail.com M: 07847 303273 W: BespokeNPS.co.uk Eventbrite: Nottingham Property Circle Share - Learn - Build
  13. Hi Ben Got any update for us? How has it been going for you and your partner? Jonathan
  14. Hi Chris Welcome to the forum and investing in Nottingham. If you want to discuss more and share experiences, then please send me a PM or come along on Thurs 14 Nov to NG7 Jonathan Challis E: Challis8@gmail.com M: 07847 303273 W: BespokeNPS.co.uk Eventbrite: Nottingham Property Circle Share - Learn - Build
  15. How's it going Adam? Have you had a chance to see some of the variety that makes Nottingham both an investment opportunity and a challenge? Have you decided what strategy you are going to use: single B2L, HMO, SA or other? Jonathan Challis E: Challis8@gmail.com M: 07847 303273 W: BespokeNPS.co.uk Eventbrite: Nottingham Property Circle Share - Learn - Build
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