[deeege]

I'm 67 Daz. I think if you get the balance right then there's no reason why you can't work into retirement like me. My mortgage was paid off a couple of years ago meaning that my outgoings now are minimal.  Also love my holidays I quit smoking 20 years ago and only drink socially.

Our mortgage will be paid off in 2 years. Me and my missus will be 56 and 57 respectively. I'll put some of the extra money i won't be spending on the mortgage into my private pension and carry on working if my health is good.

I'm the sort of guy who will not stop working (in some capacity)unless im forced to due to injury of ill health.

I'm down to 20-25 hours per week and hope I can stay at this level for many years to come.

All the best for Xmas and the new year pal.

 

Can’t keep up with you Daz. You’ve always said sod paying into a pension, they are scams etc. What’s changed your opinion on pensions?

I only changed my mind on pensions because of tax relief (plus im getting older). Hopefully I'll have 20 years of paying into a private pension. Its only a NEST pension so government backed and open to the self employed (and easy to open online)......

Fair enough Daz, you got there in the end. Now just imagine how much your nest egg would be if you’d have started paying into a pension or stocks and shares through an ISA 10+ years ago. 

Just imagine what he could have now if he had invested in property 😉

Considerably less than if he would have passively pumped money into the S&P500.

Wise investment in the right property’s will bring in much higher increase in the original investment than any other investment regardless of what that is .

Not necessarily. That’s assuming the investor has the skillset, knowledge and time to put into the property. Even then the S&P has outperformed most property over the last 20 years.

I think who ever is advising you doesn’t know there trade , with property the  initial investment continues to rise in value year on year , plus you get a monthly income so it’s a far higher  overall increase in the original investment , and very little risk long term unlike stocks and shares , each to there own but paying into a pension certainly isn’t guaranteed to give you what you think it will .

Who mentioned a pension? never had one and never would.

[deeege]

Certainly don’t call this wise investment you can get more than that on the right property in a few  months

Dunno where you got that from but the S&P has averaged 11% +per year  over the last 20 years. Saying the average person can 300% an investment in property passively in a few months is just bollox, it would take a lot of time, effort and ability and even then would be unlikely.

As a passive investment the S&P has outperformed average uk house prices by a distance.

[KS Cleaning]

Investing in property isn’t as attractive as it once was. Too many people were doing too well out of it and it was only a matter of time before the treasury got their slice of the pie. Firstly they changed the rules on tax relief from a mortgage, meaning tax relief was only allowed on the interest part of the mortgage and not the whole mortgage amount, which made a big difference if you were on a repayment mortgage. Also year on year they have reduced the personal allowance for capital gains tax. When we bought two buy to let properties in 2016 the personal allowance was £12 000, so because the properties were bought in joint names we had an overall allowance of £24 000. We sold one of the properties in November last year, by which time the personal allowance had reduced to £3000 each so £6000. Needless to say we had a rather large Capital Gains Tax bill to pay within 60 days of the sale. There is also PAYE to pay on any profits from rental income.
Then there was the issue of trying to evict a tenant, took 7 months to do it legally meaning a rent shortfall of over £5000.
I’m sure others will have different experiences, but for me with the taxation and the risks involved, all that glitters isn’t gold in property investment.

[Splash and dash]

Certainly don’t call this wise investment you can get more than that on the right property in a few  months

Dunno where you got that from but the S&P has averaged 11% +per year  over the last 20 years. Saying the average person can 300% an investment in property passively in a few months is just bollox, it would take a lot of time, effort and ability and even then would be unlikely.

As a passive investment the S&P has outperformed average uk house prices by a distance.

It’s on Google for all to see . Again if you are carefully about the proprieties you buy , it can easily be done , ime not talking about buying on a mortgage and renting out but you can still do that and make money . Especially if you buy something do it up and sell it for a profit in a few months . Stocks and shares are not a guaranteed return all have clauses in the small print stating this , look at all the pension scandals over the years , a lot have lost huge amounts of money on the stock markets all over the world , investment in property is the best return and the least risky .

[AuRavelling79]

I have a pension pot, stocks and shares ISA and property other than my main home.

As much by luck as by judgement.

I'm happy with all of them.

My pension pot had money put in between 1990 and 1996. It is now hovering at about 9x the amount of 1996.

My properties were acquired in 2011 and 2018 and I get rental income. The property value has increased by about 50% and 20% respectively.

The stocks and shares ISA has increased by about 350% in 22 years.

For reference my own home was bought in 1987. It has increased about 10x the original cost.

I believe I have been lucky in how Bristol and nearby prices have risen.

[Splash and dash]

Investing in property isn’t as attractive as it once was. Too many people were doing too well out of it and it was only a matter of time before the treasury got their slice of the pie. Firstly they changed the rules on tax relief from a mortgage, meaning tax relief was only allowed on the interest part of the mortgage and not the whole mortgage amount, which made a big difference if you were on a repayment mortgage. Also year on year they have reduced the personal allowance for capital gains tax. When we bought two buy to let properties in 2016 the personal allowance was £12 000, so because the properties were bought in joint names we had an overall allowance of £24 000. We sold one of the properties in November last year, by which time the personal allowance had reduced to £3000 each so £6000. Needless to say we had a rather large Capital Gains Tax bill to pay within 60 days of the sale. There is also PAYE to pay on any profits from rental income.
Then there was the issue of trying to evict a tenant, took 7 months to do it legally meaning a rent shortfall of over £5000.
I’m sure others will have different experiences, but for me with the taxation and the risks involved, all that glitters isn’t gold in property investment.

You need good advice on how to do it successfully and make money after the first one it’s easy if you buy to let buy having a mortgage then yes you are limited as to return , buying outright is the way ahead . I know many who make a huge living doing it , and you still have the value of the property that is constantly increasing as well as an income from it ,again you need good advice how to do it legally and the most tax efficient way to do it . But it’s a good living for doing very little once you have your first one then just repeat

[deeege]

Is anyone getting the 220% increase in property value in ‘a few months’ like Splash is? Didn’t think so 

Splash, of course nothing is certain with stocks and shares, the market rises and falls regularly but over the last 100 years has averaged 10% per year, far outperforming inflation and uk property values.

If you’re looking for short term gains then stocks and shares are not for you, stick to your property where you are getting 220% in just a few months 

[KS Cleaning]

Investing in property isn’t as attractive as it once was. Too many people were doing too well out of it and it was only a matter of time before the treasury got their slice of the pie. Firstly they changed the rules on tax relief from a mortgage, meaning tax relief was only allowed on the interest part of the mortgage and not the whole mortgage amount, which made a big difference if you were on a repayment mortgage. Also year on year they have reduced the personal allowance for capital gains tax. When we bought two buy to let properties in 2016 the personal allowance was £12 000, so because the properties were bought in joint names we had an overall allowance of £24 000. We sold one of the properties in November last year, by which time the personal allowance had reduced to £3000 each so £6000. Needless to say we had a rather large Capital Gains Tax bill to pay within 60 days of the sale. There is also PAYE to pay on any profits from rental income.
Then there was the issue of trying to evict a tenant, took 7 months to do it legally meaning a rent shortfall of over £5000.
I’m sure others will have different experiences, but for me with the taxation and the risks involved, all that glitters isn’t gold in property investment.

You need good advice on how to do it successfully and make money after the first one it’s easy if you buy to let buy having a mortgage then yes you are limited as to return , buying outright is the way ahead . I know many who make a huge living doing it , and you still have the value of the property that is constantly increasing as well as an income from it ,again you need good advice how to do it legally and the most tax efficient way to do it . But it’s a good living for doing very little once you have your first one then just repeat

I forgot the LBBT  (stamp duty in England) another tax grab on property investment.

[Splash and dash]

Is anyone getting the 220% increase in property value in ‘a few months’ like Splash is? Didn’t think so 

Splash, of course nothing is certain with stocks and shares, the market rises and falls regularly but over the last 100 years has averaged 10% per year, far outperforming inflation and uk property values.

If you’re looking for short term gains then stocks and shares are not for you, stick to your property where you are getting 220% in just a few months 

No property is a long term investment there are odd occasions ware ones have ended up with negative equity, but over time you will always get far more back long term , I started off buying stuff that needed work doing then sell it 3-8 months later and always made a good profit and that was by taking out a mortgage on them have done this for 35 years and made far more money than any investment in the stock market and no risk involved. Now have several properties rented out that will be my pension pot

[deeege]

Is anyone getting the 220% increase in property value in ‘a few months’ like Splash is? Didn’t think so 

Splash, of course nothing is certain with stocks and shares, the market rises and falls regularly but over the last 100 years has averaged 10% per year, far outperforming inflation and uk property values.

If you’re looking for short term gains then stocks and shares are not for you, stick to your property where you are getting 220% in just a few months 

No property is a long term investment there are odd occasions ware ones have ended up with negative equity, but over time you will always get far more back long term , I started off buying stuff that needed work doing then sell it 3-8 months later and always made a good profit and that was by taking out a mortgage on them have done this for 35 years and made far more money than any investment in the stock market and no risk involved. Now have several properties rented out that will be my pension pot

Throwing silly statements out that you clearly don’t understand the stock market mate.
Let’s take a guess that you invested only £10k into your first property 35 years ago. What do you think that would be worth if you had put it into Amazon stock (in 1997)  instead? £108million.

Saying your property investments have outperformed ANY stock market investment over 35 years is just wrong and uninformed.

[KS Cleaning]

Investing in property isn’t as attractive as it once was. Too many people were doing too well out of it and it was only a matter of time before the treasury got their slice of the pie. Firstly they changed the rules on tax relief from a mortgage, meaning tax relief was only allowed on the interest part of the mortgage and not the whole mortgage amount, which made a big difference if you were on a repayment mortgage. Also year on year they have reduced the personal allowance for capital gains tax. When we bought two buy to let properties in 2016 the personal allowance was £12 000, so because the properties were bought in joint names we had an overall allowance of £24 000. We sold one of the properties in November last year, by which time the personal allowance had reduced to £3000 each so £6000. Needless to say we had a rather large Capital Gains Tax bill to pay within 60 days of the sale. There is also PAYE to pay on any profits from rental income.
Then there was the issue of trying to evict a tenant, took 7 months to do it legally meaning a rent shortfall of over £5000.
I’m sure others will have different experiences, but for me with the taxation and the risks involved, all that glitters isn’t gold in property investment.

You need good advice on how to do it successfully and make money after the first one it’s easy if you buy to let buy having a mortgage then yes you are limited as to return , buying outright is the way ahead . I know many who make a huge living doing it , and you still have the value of the property that is constantly increasing as well as an income from it ,again you need good advice how to do it legally and the most tax efficient way to do it . But it’s a good living for doing very little once you have your first one then just repeat

Wouldn’t matter what advice I got, it still wouldn’t make property investment as attractive as it was back in 2016 when I bought. Since then there has been a big tax grab through LBTT additional dwelling supplement, reducing the personal allowance year on year from £12 000 to £3000 and reducing the tax relief on mortgages. For what it’s worth I wouldn’t rule out a tax grab against ISA’s etc in the coming years.

[Splash and dash]

Is anyone getting the 220% increase in property value in ‘a few months’ like Splash is? Didn’t think so 

Splash, of course nothing is certain with stocks and shares, the market rises and falls regularly but over the last 100 years has averaged 10% per year, far outperforming inflation and uk property values.

If you’re looking for short term gains then stocks and shares are not for you, stick to your property where you are getting 220% in just a few months 

No property is a long term investment there are odd occasions ware ones have ended up with negative equity, but over time you will always get far more back long term , I started off buying stuff that needed work doing then sell it 3-8 months later and always made a good profit and that was by taking out a mortgage on them have done this for 35 years and made far more money than any investment in the stock market and no risk involved. Now have several properties rented out that will be my pension pot

Throwing silly statements out that you clearly don’t understand the stock market mate.
Let’s take a guess that you invested only £10k into your first property 35 years ago. What do you think that would be worth if you had put it into Amazon stock (in 1997)  instead? £108million.

Saying your property investments have outperformed ANY stock market investment over 35 years is just wrong and uninformed.

No I don’t fully understand the stock market there aren’t many that do that’s why so many loose so much money but what you are quoting is the exception rather than the rule , ware  as with property the  vast majority will make good money without the risk , my first property cost 25 k its now worth over 375 K with no risk whatsoever ,unlike the stock markets that can loose millions overnight

[Splash and dash]

Investing in property isn’t as attractive as it once was. Too many people were doing too well out of it and it was only a matter of time before the treasury got their slice of the pie. Firstly they changed the rules on tax relief from a mortgage, meaning tax relief was only allowed on the interest part of the mortgage and not the whole mortgage amount, which made a big difference if you were on a repayment mortgage. Also year on year they have reduced the personal allowance for capital gains tax. When we bought two buy to let properties in 2016 the personal allowance was £12 000, so because the properties were bought in joint names we had an overall allowance of £24 000. We sold one of the properties in November last year, by which time the personal allowance had reduced to £3000 each so £6000. Needless to say we had a rather large Capital Gains Tax bill to pay within 60 days of the sale. There is also PAYE to pay on any profits from rental income.
Then there was the issue of trying to evict a tenant, took 7 months to do it legally meaning a rent shortfall of over £5000.
I’m sure others will have different experiences, but for me with the taxation and the risks involved, all that glitters isn’t gold in property investment.

You need good advice on how to do it successfully and make money after the first one it’s easy if you buy to let buy having a mortgage then yes you are limited as to return , buying outright is the way ahead . I know many who make a huge living doing it , and you still have the value of the property that is constantly increasing as well as an income from it ,again you need good advice how to do it legally and the most tax efficient way to do it . But it’s a good living for doing very little once you have your first one then just repeat

Wouldn’t matter what advice I got, it still wouldn’t make property investment as attractive as it was back in 2016 when I bought. Since then there has been a big tax grab through LBTT additional dwelling supplement, reducing the personal allowance year on year from £12 000 to £3000 and reducing the tax relief on mortgages. For what it’s worth I wouldn’t rule out a tax grab against ISA’s etc in the coming years.

The government will always try and fleece the average man that’s a fact of life , but there are legal ways to still make a very good living from it , buying a house on a mortgage to rent out is a mugs game and not the way to go , second homes down here are now starting to be sold by some due to the council tax issues but buying a house and renting it out is still a very lucrative business, but it’s best to do it through an agency as this gives you far more protection and it’s now getting complicated to do it yourself all mine are done through an agency and if they  cock up I have an insurance policy to cover that , so don’t have to be actively involved in the day to day running of it , best thing I ever did , with hindsight should have done it much sooner

[deeege]

Is anyone getting the 220% increase in property value in ‘a few months’ like Splash is? Didn’t think so 

Splash, of course nothing is certain with stocks and shares, the market rises and falls regularly but over the last 100 years has averaged 10% per year, far outperforming inflation and uk property values.

If you’re looking for short term gains then stocks and shares are not for you, stick to your property where you are getting 220% in just a few months 

No property is a long term investment there are odd occasions ware ones have ended up with negative equity, but over time you will always get far more back long term , I started off buying stuff that needed work doing then sell it 3-8 months later and always made a good profit and that was by taking out a mortgage on them have done this for 35 years and made far more money than any investment in the stock market and no risk involved. Now have several properties rented out that will be my pension pot

Throwing silly statements out that you clearly don’t understand the stock market mate.
Let’s take a guess that you invested only £10k into your first property 35 years ago. What do you think that would be worth if you had put it into Amazon stock (in 1997)  instead? £108million.

Saying your property investments have outperformed ANY stock market investment over 35 years is just wrong and uninformed.

No I don’t fully understand the stock market….

We got there in the end 

[KS Cleaning]

Investing in property isn’t as attractive as it once was. Too many people were doing too well out of it and it was only a matter of time before the treasury got their slice of the pie. Firstly they changed the rules on tax relief from a mortgage, meaning tax relief was only allowed on the interest part of the mortgage and not the whole mortgage amount, which made a big difference if you were on a repayment mortgage. Also year on year they have reduced the personal allowance for capital gains tax. When we bought two buy to let properties in 2016 the personal allowance was £12 000, so because the properties were bought in joint names we had an overall allowance of £24 000. We sold one of the properties in November last year, by which time the personal allowance had reduced to £3000 each so £6000. Needless to say we had a rather large Capital Gains Tax bill to pay within 60 days of the sale. There is also PAYE to pay on any profits from rental income.
Then there was the issue of trying to evict a tenant, took 7 months to do it legally meaning a rent shortfall of over £5000.
I’m sure others will have different experiences, but for me with the taxation and the risks involved, all that glitters isn’t gold in property investment.

You need good advice on how to do it successfully and make money after the first one it’s easy if you buy to let buy having a mortgage then yes you are limited as to return , buying outright is the way ahead . I know many who make a huge living doing it , and you still have the value of the property that is constantly increasing as well as an income from it ,again you need good advice how to do it legally and the most tax efficient way to do it . But it’s a good living for doing very little once you have your first one then just repeat

Wouldn’t matter what advice I got, it still wouldn’t make property investment as attractive as it was back in 2016 when I bought. Since then there has been a big tax grab through LBTT additional dwelling supplement, reducing the personal allowance year on year from £12 000 to £3000 and reducing the tax relief on mortgages. For what it’s worth I wouldn’t rule out a tax grab against ISA’s etc in the coming years.

The government will always try and fleece the average man that’s a fact of life , but there are legal ways to still make a very good living from it , buying a house on a mortgage to rent out is a mugs game and not the way to go , second homes down here are now starting to be sold by some due to the council tax issues but buying a house and renting it out is still a very lucrative business, but it’s best to do it through an agency as this gives you far more protection and it’s now getting complicated to do it yourself all mine are done through an agency and if they  cock up I have an insurance policy to cover that , so don’t have to be actively involved in the day to day running of it , best thing I ever did , with hindsight should have done it much sooner

I didn’t take a mortgage on the 2 properties, I bought them outright by remortgaging my property.

[KS Cleaning]

Anyway, what happened to the Christmas thread?😆

[AuRavelling79]

Anyway, what happened to the Christmas thread?😆

Oh yeah!

 

[dazmond]

Happy Xmas to you all whether you've got no property or pension,stocks and share ISAs,or just have £50 in the bank!🤣🤣🤣

[Scottish Cleaning Service]

The tips are coming in thick and fast now. Got a first clean today next to 3 that I clean and it was only a tenner I charged her. She gave me a score as a Christmas tip, hard to believe. I have to clean the PVC next year for her.

[Stoots]

final furlong now, shall i finish this friday or next tuesday


hmmmmmm    lets see not decided