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About carlhague

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  1. As @david slater says, they are a cost of doing business. You can carry losses forward until you make a profit.
  2. I was going to say this, i understand that you can invest upto 40K in a pension, and from what i understand you can do this as a lump sum on an annual basis, but you really need to run that through an accountant and a Financial Advisor
  3. Sole trader or limited company?
  4. Hi all, I'm sure i heard or read somewhere about setting up two companies, one to own property and a separate one to deal with the rental income. Does anyone do this?
  5. According to the BTL terms, you cannot rent to yourself or someone in your family (regardless of company vs sole)
  6. I would second this. How far into the 40% tax bracket are you? Do you need to take any money out? If you don't need any cash, then holding as a limited company may still be an option, you can take your tax free dividend allowance as a bonus. Then take dividend later in life when your salary situation changes?
  7. @stroodle, The best advice i can give is to pick a model property, and price up the renovations. Get friendly with a builder and ask him to put a scheme together with a price. Then go from there
  8. That, and the rest of the M65 corridor is exactly where i was thinking of buying.
  9. Definitely consider leverage, it takes a bit to get your head around it, but ROI is a lot higher.
  10. Assuming 75% LTV you could get 1.4m worth of property with 350k. Assuming 10% return on investment (not gross yield, or net yield but return on investment) would be 35k per annum = nearly 3k per month. Your 350k is a massive starting pot, can I borrow some money?
  11. I strongly suggest you go watch it, then come back. I really enjoyed it, but have a notepad handy!
  12. What nightmares are you referring to? There could be some serious nightmares with a flip if you don't put in the work before buying. I hope you have done more than watch homes under the hammer? OK, I have no experience of what you're trying to do yet, but I am a QS for a building company, so ... Budget of 150k is this cash or are you going to be using a bridging loan? What areas have you been looking in? Have you thought about auction fees, solicitor fees, property insurance, and selling fees? A property is only worth what someone is willing to pay for it
  13. Hi Jody, I know this is an old thread, but did you get anywhere with this?
  14. Hi, Sorry for resurrecting an old thread, but I'm based in Preston too. I am very new and looking to secure my first property in the next 6 months.