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ivan j

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  1. Hey Graham, You should look up the podcasts on property sourcing from Rob and Rob - there are a couple and will answer all of your questions.
  2. I have a dashboard in Excel linking to different sheets covering different aspects of the property business. I use a traffic light system - green when everything is fine, amber for example when something is due, red when overdue. So for example, a check that the rent in the statement is correct, check that cash received, statement received, tenancy expiry, occupancy, safety checks, mortgage expiry, notes, consents, insurance, P2P lending, financial reporting deadlines, etc etc. Everything is automated, so I only need to look at the dashboard to see an overview of the whole portfolio. I open the spreadsheet a few times a week, so it is not necessary to set it up to send me reminders on email etc. It's a lot of work and Excel can be a dangerous tool, but it appeals to my geeky side.
  3. hi there, I looked at some of the software recommended and in the end I decided to build my own system in Excel . I am a bit geeky in Excel anyway and am a qualified accountant, so I know how to set things up. I wanted something purely tailored to my needs rather than something off the shelf. But the software recommended above looked very good.
  4. Hi all, I have bought 4 properties in a development and as seems normal, the developer has missed the target completion date and has now sent a "deed of variation" seeking to extend the long stop date and target date. (Original long stop date was December 2019, proposed new long stop date is May 2020) The cost for my solicitor to approve this extension is relatively high. My feeling is that it is not in my interests at all to extend the long stop date. The contract gives me the right to pull out of the purchase after the long stop date has passed. I do not expect to pull out, but as I see it, there is nothing in my favour to extend the long stop date. Naturally I am checking with my solicitor, but would be good to hear any similar experiences. Cheers! JJ
  5. Thanks Tommy, feedback I have received elsewhere also suggests it should be fine to lend from the company.
  6. I have a Ltd property company for simple BTLs. I am looking at investing some surplus cash into peer to peer property funds. It would be preferable (from a tax perspective) to lend from my company and the company earns the interest. My accountant has indicated that this is fine. I wonder whether there may be adverse consequences from mortgage lenders if the Ltd company is engaged in this activity? Do any hubbers have experience of this?
  7. Thanks - looks like it is much more efficient for the company to be placing funds with peer to peer funds than as an individual.
  8. Thanks - but do you know if that credit is treated as normal income for tax purposes? I.e. it is treated the same as rental income?
  9. I have a float of cash in my property SPV. I intend to invest some of this into peer to peer lending schemes, specifically in property. Question is whether the interest earned on these deposits are treated as normal income for the company or whether they are treated differently (as interest income is treated for individuals). As always, I will discuss with my accountant, but I wanted to see if there are any comments from hubbers. Thanks!
  10. Does anyone know if it is necessary to appoint the employee as director? It would be simpler to just pay a salary and not to add directors unless there is a specific advantage. Cheers
  11. I found the same - there is not much appetite for small loans. One solution is to buy a 2/3 properties in the same development with a single mortgage. I did this in Liverpool for two flats and it worked OK.
  12. H David, I believe there are meetups in Zurich. Unfortunately, I have not been able to make these as I have commitments on Thursday evenings, Where are you investing in the UK? Are you using an SPV? And how have you got on with mortgages? Cheers
  13. I have found that one agent is proposing to increase fees by 2% as well as an additional referencing fee of £100. Has anyone else had similar comments from their agents?
  14. Hi all, Does anyone have experience of paying salaries from a Ltd company? I would like to pay my partner a small salary for her contribution to my BTL business. I am not based in the UK, but the company is. I would like to pay, say £5,000 p.a. Are there any implications to consider? Should I appoint her as a director? I will discuss this with my accountant, but would be good to hear any other experiences. Thanks JJ
  15. Thanks Simon, Great advice. I will make some inquiries later this year and only proceed if I get a significant cost advantage. In my experience outside property, the larger the loan, the more flexible the bank is, but I don't think a portfolio of 10 properties will give me much leverage with the banks. Will let you know how I get on. Thanks again