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About jj_investor

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  1. Thanks - looks like it is much more efficient for the company to be placing funds with peer to peer funds than as an individual.
  2. 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?
  3. 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!
  4. 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
  5. 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.
  6. 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
  7. 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?
  8. 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
  9. 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
  10. Simon, This is interesting. The recession risk is certainly something to consider. As I mentioned, I'm not looking for revaluations, so covenants should be relatively easy to satisfy. Borrowing will push 7 figures next year, so I'm hopeful that there is some flexibility on the back of that. Generally I agree that BTL lenders may be a better bet than high street banks. I have found that high street banks are the least flexible when circumstances are not totally vanilla.
  11. Hi Simon, Interesting reply, sounds like you have some strong views! I am an expat and have bought through a UK company. This means my borrowing options are limited and expensive. So I wanted to see if a portfolio loan would be a cheaper option, reducing fees and only having to deal with one loan. It would also be helpful if I could easily add new properties to the portfolio without the drawn out due diligence procedures. In a couple of months I will have 10 properties held by the Ltd company. I have no intention to sell the properties in at least the medium term. I also don't need to extract equity for a while, so no need for frequent valuations. I am wondering whether there are better mortgages under a portfolio loan than I can get under existing single-property loans. Any feedback most welcome! Cheers, JJ
  12. Can anyone share their experiences with portfolio mortgages? I would be interested to understand any problems, the cost advantages, specialist brokers, costs involved. Is there a number of properties where a portfolio mortgage becomes an advantage, eg 10, 50, 100? Cheers!
  13. Following the advice of Rob & Rob, I am slowly starting to research Sheffield. Can anyone recommend the best places to look at and good sources of local information? I generally prefer to invest in higher-end properties, with a view to long-term capital growth. Any advice would be welcome. As I am based overseas, I am not able to get over to any meet ups in the forseeable future. Thanks
  14. Rob and Rob did a great podcast on their area picks.
  15. To give my two cents. My most valuable habits... - Having experimented with various online tools (Evernote, OneNote), for my general to do lists, I've gone back to pen and paper. I have a folder of about 30 pages of A4. Each has a topic (property, investments, personal, different aspects of my day job/other businesses). Pages are in alphabetical order. Every evening, I review the pages and write a one-sheet to do list for the next day. Crossing out completed tasks out remains satisfying and having it on paper means I can always see the day's to do list without it taking up a screen. - In MS Outlook, use recurring reminders in the calendar for regular activities, set a one minute delay on all outgoing emails. Saves time for when inevitable after-thoughts hit you. Separate account for all property emails. - Automate activities whenever possible. All of my property activity is wrapped up in an ever-improving Excel spread sheet. All dates, checks, metrics etc. are automated. Dashboard with a traffic lights system on all aspects of the property portfolio (I'm a property geek with a small g). Specialist software would no doubt do the same, but I like the flexibility of Excel. - Outsource to experts whenever possible. Hated this at first, but that 500 quid you pay your accountant/tax advisor/broker saves you thousands. - As someone else has said - exercise, fresh air. Healthy body, healthy mind! Some of my best ideas come to me when out running. - Read (listen on audio) plenty of non-fiction. Rob and Rob recommend great books, Bill Gates publishes a bi-annual recommendation list, non-fiction best seller lists are good. I mainly read non-fiction, only indulge occasionally in self help (I'm motivated enough and the messages are generally fairly similar). I try to limit my news intake (not so easy these days) and other distractions like social media (there's a time and a place for that). Kill notifications! - Listen to podcasts! Better information than any MBA. - A general habit I have developed is to always look for solutions or to add value in any task. Even something as mundane as answering an email, there is value to be added, eg updating the filing system so that information is available next time I'm answering the question, or saving a template answer or whatever. For higher level stuff, I always try to find solutions to problems and consider how to add value in a situation. - Throw a lot against the wall - explore as many different ideas as possible. Examining all sorts of crazy ideas leads to success in a few and you learn from the stuff that doesn't work out. - As others have said, positive thinking is vital. Success probably breeds positivity, but I'm sure positivity breeds success. Habits that I am working on improving - Networking and meeting people. I'm better in some areas of life than others. Need to improve my network in UK property (not always easy from Switzerland, but that's a poor excuse). - Delegate - and keep delegating. Although my work life balance is good, I should delegate more so I can take on more. 'No' is also a good word to use occasionally. Starting new projects/working on new ideas is a great way to force yourself to delegate other tasks (unless you're a control freak). - Active listening. It's all too tempting to talk, but so much better to listen. - Ask for help. People generally like to help and it saves time and money. - Never read the bottom half of the internet. It's a sewer. Even more important - never get into an online debate. Life is way too short.
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