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Found 7 results

  1. Hello! I'm based just outside Newcastle upon Tyne and it would be great to get to know other people that are 'into' property. As my network currently as no like minded people. About me: 34m love skiing, springer spaniels, countryside, mountain biking and the Lake District is my favourite place! Current situation: I had had been in a senior position in secondary education for the past ten years (now 34) and flipped property as a hobby. Last October I decided to leave my career. After a few months of soul searching for the next chapter ( guest houses, travelling for example) I kept levitating towards property each time. Which brings me to 'the now'. I am currently writing a business plan with the goal to turn the hobby into a career. I currently own one HMO and really enjoy managing it albeit much more hands on than a btl ( had one previously). Ive managed other properties and my partner is a property manager for a local large estate agent. I'll be making every effort to attend PIN meetings, local auctions to get to know people however if anyone wants a chat/ coffee to chat about goal setting or strategy ideas etc I'd be willing. Skiils: Project managed multiple properties very much a 'grafter' and hands on in whole process from sourcing to completion. Interior design - designing spaces for the end user sourcing best value resources Sourcing bmv property i really should say teaching is a skill ( national award winning ooo er! Ha) however at the moment not fully transferable to my current situation. I particularly like working with period and character properties. Recently renovated a sandstone cottage and doubled the capital put into the project. Particular interest growth area: As I'm about to embark on property trading, development and investment full time I'm still not clear the best business structure to go with ( sole trader/ Ltd company) and actively researching this area. I've tried to call a number of accountants for advice however as yet not got the info I need. I am am keen to learn and gain advice and tips for self builds and land purchasing. I do get excited about growing a HMO portfolio as enjoyed the experience so far. So I would love to talk to anyone who wants me to be part of their own journey and willing to be part of mine. Best wishes tom heaney
  2. Hi All, I currently have two buy to let properties and I am now looking at new investment options going forward so I have been researching the property trading strategy with the aim to buy, renovate and sell on. I am trying to determine all the associated expenses and tax to decide if this is a viable option for me at the moment. I would really appreciate if someone with experience in this area could confirm a few points: - I have looked at bridging finance, are there any other finance options which are better suited to this strategy? - What is the realistic timescale for trading of one property? Have you had experience of selling a property in less than 6 months? - If your income is currently in the higher tax bracket, my understanding is that when trading any profit would be taxed at 40%? Which type of tax relief can be used with this type of investment? Any advice would be much appreciated. Thanks
  3. Hi, So looking into registering the Nature of Business for my property corporation, I am coming across a very short list from the Company House: Section L Real estate activities : 68100 Buying and selling of own real estate 68201 Renting and operating of Housing Association real estate 68202 Letting and operating of conference and exhibition centres 68209 Other letting and operating of own or leased real estate 68310 Real estate agencies 68320 Management of real estate on a fee or contract basis https://www.gov.uk/g...IC_codes_V2.pdf So essentially whether you are trading properties (buy-refurbish-sell) or investing in property (buy and hold) you will be using code 68100. My lender is OK to lend to my corporation providing I do not undertake any trading activity and providing the nature of the business of the corporation is only 'investing' and not trading. But my question is: how can my lender tell if I am trading or investing since the SIC code and registration is the same? Will it be based on financial statement of the corporation or just good faith? Not that I would....but any chance to cheat the lender there? Can I conduct trading and investing with the same corporation without the lender knowing? Your advise is welcome. Regards Antoine P.S: this topic is a duplicate of the topic I posted under the 'tax' section - wasn't sure on the best home for it
  4. Hi, So looking into registering the Nature of Business for my property corporation, I am coming across a very short list from the Company House: Section L Real estate activities : 68100 Buying and selling of own real estate 68201 Renting and operating of Housing Association real estate 68202 Letting and operating of conference and exhibition centres 68209 Other letting and operating of own or leased real estate 68310 Real estate agencies 68320 Management of real estate on a fee or contract basis https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/455263/SIC_codes_V2.pdf So essentially whether you are trading properties (buy-refurbish-sell) or investing in property (buy and hold) you will be using code 68100. My lender is OK to lend to my corporation providing I do not undertake any trading activity and providing the nature of the business of the corporation is only 'investing' and not trading. But my question is: how can my lender tell if I am trading or investing since the SIC code and registration is the same? Will it be based on financial statement of the corporation or just good faith? Not that I would....but any chance to cheat the lender there? Can I conduct trading and investing with the same corporation without the lender knowing? Your advise is welcome. Regards Antoine
  5. Are you being taxed heavily on the money that you withdraw from the company and invest in property? The problem I see with many property investors who own limited companies is that they do not take into account the amount of tax they pay by taking wages or dividends from the company. If you are a higher rate taxpayer then you will pay an additional 22.5% tax on the money you take out of the company as dividends. Learn how you can structure two limited companies for trading and investment here - http://www.optimiseaccountants.co.uk/loans-between-ltd-companies
  6. Hey Richard Greenland here AKA Rich G, founder of UK Property Traders Facebook group and forum including non-upsell property networking events all over the country. Interested in exploring any possible synergies between this forum and what we do. In business, full time property trader and investor. I specialise in problem properties, subsidence, no access to view, title issues, dry rot, Japanese Knotweed, stinky wrecks, burnouts. My skills include seeing the deal when other people see only the problems. Seeing the bigger picture when others get distracted by all the "noise". 30 years as a builder so can assess building fabric very quickly. Establishing and growing networks of people. My goals for now, £1m available as cash within 5 years from January 2013, to build our retreat centre. To achieve some small amount of wisdom before I'm dead and gone! Interests outside property, self-actualisation through finding meaning and purpose. Ethical and sustainable business. Blog, £250k net profit on a single deal due to no access, the 2 for the price of 1 deal, subsidence that wasn't subsidence and a couiple of others - more to come http://ukpropertytraders.co.uk/category/richard-greenland/
  7. Hi all, After a lot of reading and listening to podcasts I thought that I'm happy with my strategy as below. Buy properties in good shape at good price in Manchester (since I used to live there and know the city and London prices - where I live now - are so expensive! Rent them out through a good agent However, yesterday I spoke with a property sourcer/developer, who also have a training and advising company for new investors. He asked me about my circumstances and I told him that in the next 1-2 years I would like to leave my job and have a baby... He advised that trading property would suit me best! His reasoning was: I will have restricted time with the baby and traveling to Manchester will not be easy Trading would give me a bigger source of income, compensating for not having a job According to him I present myself and communicate well which would be useful skills in trading He has suggested that I read 'Dominate your ground' which I have bought and will read. Right now I don't know much about property trading but I think the risks may be higher than BTL because a property that may seem to me BMV and have nothing serious wrong with it to others with much more experience on their side may look different! I would really appreciate your thoughts on this! I do want to earn money and invest but having short-term large income does not matter to me right now! Thanks for your thoughts in advance
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