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  1. The OP posted ""is an experienced btl landlord (residential)", on that basis using other BTL properties as leverage with their £100k capital, likely some fine tuned savvy finance for additional 1- 4 added BTL's for the long buy & hold/BTL past 5 years to see how the numbers unfold to get close to a £20k/yr net income? would like to see the OP come back with their own ideas/thoughts as well as more info to add to this discussion.
  2. £100k needs to produce yearly £20k net after tax to fund schooling. some basic ideas, see if this works to your thinking! so lets suppose £100k is used as a down payment/leverage on 4 x £100k BTL's (or other multiplier value) student/multi room property.... location, location on the basis fully rented & that you could get a mortgage lets be aggressive that the income on 4 x btl's student housing is £4000/mth gross minus cost to carry a £300k 2.3% - 3% 5yr fixed 25 year amortization mortgage, insurance, maintenance total for approx mthly £2000/mth costs. This leaves net before tax £2000/mth £24000/yr- minus 20% tax , then yes it's likely possible. I'd forget any growth other than some repayment of principle. BTW 5% return before tax is only £5000/yr, you need to find another £15,000 to fund the schooling what were you thinking?
  3. @malmopearce the rightmove link says it sold for £150,000 even if the refurb bare minimum work costs was £10,000 or max £30,000 (20% of purchase price) - what do you figure that you could realistically sell this property for after the refurb & what would the net profit after all costs be? on the quote, its way too high & why do all that work. If this is a fix & flip, do minimum, recoup all the money & carrying cost that you put into it & maybe you'll get a breakeven. Good luck
  4. since parents have BTL £15k gross or approx £12k net + £40k pension income, what about the property they live in, do they own it? what is their total net worth that could be taken into account to qualify them for a mortgage/loan? @noel c, myself a senior looking at this, do your parents know or agree with what you are thinking of, would they take on this risk & what about your payment on the loan or return of the loan back to them?
  5. https://www.amazon.co.uk/Property-Investor-Toolkit-Investment-Success/dp/1508812411 also available on Amazon, you need to google it https://www.amazon.co.uk/gp/product/0993497209?tag=Propgeek09-21 plus https://www.propertygeek.net/
  6. what I would do .... first suggestion would be go to your Bank or previous mortgage lender to ask 'based on the present value of your property 'what are your options in taking out equity, how much, rate, terms & any fees associated with doing it' then once you know that, and know the amount of available cash, you could use it for whatever, either to buy something, modernize your current property, spend it on a world trip, invest in property related investments or that BTL property which is what you're looking at doing. using some basic numbers along with a few ideas ... - lets suppose your lender made available 50k or possibly an amount that includes savings that would allow you to purchase an income property cash... what precisely will you do with it? - then ask your lender, consider also going to several mortgage brokers (doing a comparison) see what is available in BTL mortgages, the interest rate, term etc. lowest overall cost of the mortgage payments including any fees. - with those few things done it will be time (if not already done so) to research the property market that you're looking at (price & rental rates) to see what is available, to make sure the potential BTL will net-net positive cash flow. good luck to you.
  7. which software did you use? https://www.gov.uk/company-filing-software/filing-annual-accounts-returns-and-tax-accounts
  8. @haf1963, thanks for that .... learned something new today.
  9. FWIW, in a small Ltd company, one that has a small profit as mentioned of "£5000 profit each year", just be careful & think about taking a 'salary', for the reason once you include 'paying salary' then you have to also pay NI contributions which dd another level of complication in terms of both money, registering & paperwork as well as personal income tax on the income what about .... if you were could draw up a consultant agreement to have the Ltd Co pay you a consulting fee to reduce the amount of corporate tax payable, then again in your name drawing consulting fees you would be tax on that income personally. Depends also if you have other income as well as the tax band that you fall into. unless you can minimize, reduce or eliminate the small £5000/yr profits through expenses or other - do the calculation to see the amount of tax that the Ltd company would pay vs what you would pay drawing a consultant fee or a combination of both ... it may or may not be worth it.
  10. trying to do this thinking outside the box - its not a 'go do it' or 'legal advice'... do you presently live in either property or have done so in the past? does either property currently have a lien or mortgage? review this, what do you see? .... https://www.gov.uk/capital-gains-tax https://www.samconveyancing.co.uk/news/conveyancing/gifting-property-4-ways-to-gift-your-property-2928 then read on. how would the company in the first instance purchase either of the properties if it has zero cash? do you see yourself doing this? ... sell property one on the open market, take the capital gain hit, loan the proceeds to the Ltd company, then it can buy property 2 (all nice & legal) from you... with the proviso the Ltd company can get a mortgage & as you are aware, Ltd mortgages are usually at a higher interest rate than an in a personal name property mortgage. lets suppose that you still have the two properties that you want to hold onto which you want to sell to the Ltd company. can you get personal bridging finance so as to make a loan to the Ltd company, then go buy property one at fair market value (with a mortgage), sell property one, then buy property two with the proceeds? then there is the selling the property to the Ltd company below market value & gift the remaining value to the company. at some point in all of the above you need to deal with CGT as well as the company needs to pay SDLT on acquisition of the new asset.
  11. a few for you to check out, cost wise depends what is involved, could be anywhere in the region £700-£1000+ call each one, tell them what it is you need & request approx cost http://www.heymanand.co.uk/ https://www.tqpropertylawyers.com/
  12. what are you going on about Jim, I'm not grilling you, my questions are simple as those that are looking at any business venture or investment. after this post I shall drop off this thread. Good luck to you.
  13. I still cannot get my arithmetic right, you mentioned "23k net on a purchased 50k property" appreciate how you would work "your "model' based on "my model' of my purchase of a BMV property for 100k that is salable at market (last solds in 2019) approx 160k for the exact same property in good condition in the same street. The 100k property bought at auction was the price that included auction fees, is really bad, need lots of work, possibly 20k of refurb to get it to the 160k market price. can you work the numbers on this for me on a shared pre-tax net 50/50, after all fees & costs? is this a workable deal? if not, then what price point do you need to see between BMV & market selling price to get you your minimum net net pre-tax 20k each for you & the JV? what is your investment in my model & what do you want me to do as part of the JV?
  14. don't think you did - you did a high level, no details, that is why I asked on the forum, that with further details or explanation how you JV that you may post, it could possibly draw out interest. Jim again a request in the following to fill in some blanks... thanks OK, so maybe its me, the fact that besides being over 70 years of age (72 to be exact), that I am so slow that I cannot get it or read between the lines, so please excuse my senior moment together with so many questions about how you JV! - are you just the money guy? - are you a hands on? - why do you use 20K, especially if its a B2S that is 100k, 200k, 500k or more? - 20k on a 100k or a 500k property (where is the comparison on money at risk to that 20k return you speak of?) even when you add in all the added in out of pocket start -up & selling costs, legals etc, that's without the refurb costs - which BTW, are you funding the whole project including buying the property, getting the mortgage, paying all associated fees, part funded, does your JV have to fund also ... ? questions only lead to more questions, when there isnt any detail. do you have a website? do you have a list of completed or in process projects like the guys that post on the progress thread? how do you compare yourself to others offering JV's why is your offer different or better? there are tens, maybe hundreds of folks looking for JV's offering 10%. Your model speaks only of 20k - which does not equate to any value as far as to a property price or associated costs including the furb ... who in your JV pays for what or who does what in the JV?
  15. @shillam, for information, reference purposes only, there are others similar to the one in the link below. in the projects for sale below, is this what you may be looking for in terms of 'already refurb'd, ready to move in with income' all it takes is money & whether the returns meet your objective - better returns if you are able to get at least a 75% mortgage. https://bhinvestment.co.uk/projects-for-sale/
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