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Hi everyone!

 

As the title states, I'm new to this, so please be kind :)

 

A brief intro to who I am.... I'm 51, have spent the last 25 years working for the family business, where for the last 13 years have been MD after dad retired. it was a business I had absolutely no interest in.

 

A personally traumatic time over the last 3 months has 'pushed' me to re-evaluate my life. My kids have grown, married and have children of their own, so i have decided to sell my shares in the business to my brother (they are being valued as we speak).

 

My love is design and property. I have loved buying the houses we have lived in and over the years getting more & more brave in what I did to them. My latest home is a 19th century cottage that I have knocked out walls, fitted a kitchen and bathroom and re-designed the garden.  I'd like to put all of this passion into other property that I can make money from.

 

My plan is to buy 3 or 4 'easy' BTL flats/houses, as an income stream, and whatever I have left I'd like to buy a property to renovate and flip, hopefully making a profit and moving onto another, and on and on....

 

I am getting up to date with the podcasts on here...they're great. An I have bought 100 property investment tips and rich dad poor dad books, that i've almost finished reading. So I feel I am getting some great advice already.

 

I'm going to my first auction in the next couple of weeks to see how thing work, and will be attending the Property Hub network meeting next week, I have also subscribed for the webinar on Monday.

 

I feel I am preparing myself enough, but if anyone can recommend anything else I should be doing I'd appreciate all the advice I can get. Also, can anyone recommend a good conveyancer and tax accountant? I'm in Leicester if that matters?

 

Look forward to getting some tips and tricks for you and I can't wait to start my new journey :) Claire

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Hi Claire

 

Welcome to the forum. 

 

It sounds like your re-evaluating is about to reveal some great opportunities for you. 

 

You've made the great first step of joining this community and soaking up all the information available to you. I'm sure other members will be along to share some of their experiences soon. 

 

 

 

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Hi Claire

 

It sounds like you've been very busy, and you seem to have a really clear idea of what you want to achieve, which is great.

 

Speaking as a Tax accountant here at The Property Hub, I would say it's really important to get your tax structure right from the beginning. Especially with recent changes to mortgage interest relief, its better to make sure that you structure how you will own the properties before buying - changing from personal ownership to Limited Company ownership at a later stage can be expensive. Chatting to an accountant before buying a property is a worthwhile investment. Accountants will often be able to offer you a video consultation to discuss your tax situation - so don't feel constrained by location - choose an accountant you are comfortable with and specifically one that has property tax expertise. 

 

Good luck on your very exciting new journey - I hope it all works out for you. 

 

 

 

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Thank you. I have a company accountant now, and although i've used him for many years, I don't think he would be the best person in this instance.

 

If anyone out there can recommend one that would be great....I take it you're not available ;) 

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Hi Claire

 

Property Hub Tax now offers an ongoing tax  / accounting service as well as one off consultations. If you'd like to email me on tax@thepropertyhub.net I'd be more than happy to arrange a call so we can have a chat about our services. 

 

 

 

 

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