Fazer declared bankrupt

[JOHN DOE]

ffs

 

stop picking holes in my thesis

[Afroman]

 

If I had money like these guys

I would buy as many properties as poss. Rent them out. Simple.

Never go broke.

Someone told me lethal has a few props. Smart man

 

When people ain't got money to rent all the properties you will have to pay the mortgages yourself.

 

That's a classic way many people have gone broke.

 unlikely you will struggle to find someone to rent the yard depending on what home you have bought

 

thats why you buy strategically buy homes in which you will always let them out 

 

if you have 5 /6 and one is vacant the income generated from the others will be enough to supplement the mortgage of the other one 

 

plus it doesnt have to be your only source of income 

 

and worst come to worst you still have the freedom to sell that yard 

Lol its not as easy as that.

[Benicio del Toney]

 

If I had money like these guys

I would buy as many properties as poss. Rent them out. Simple.

Never go broke.

Someone told me lethal has a few props. Smart man

 

When people ain't got money to rent all the properties you will have to pay the mortgages yourself.

 

That's a classic way many people have gone broke.

 unlikely you will struggle to find someone to rent the yard depending on what home you have bought

 

thats why you buy strategically buy homes in which you will always let them out 

 

if you have 5 /6 and one is vacant the income generated from the others will be enough to supplement the mortgage of the other one 

 

plus it doesnt have to be your only source of income 

 

and worst come to worst you still have the freedom to sell that yard 

 

Suppose you have a vacant home and 1 of your tenants falls into arrears?

 

Suppose the home you list on the market doesn't sell straight away?

 

Suppose tenants leave your home in a state?

 

 

All that will hit you big time in your pocket, many wanna be Donald Trumps have learnt the hard way.

[Guest 90210]

ffs

 

stop picking holes in my thesis

but u were picking holes in mine

 

o 

 

ye

 

yee u mad now

[time_bomb]

lol 40 properties

[dub]

[Vertigo]

Property ownership especially if you're not at the house can be a hassle. It's not as easy as just collecting a cheque. Anything goes wrong and you have to sort it out unless your willing to pay someone else to deal with that. It's stressful and annoying especially if you have a**hole tenants or other stuff going wrong with the house.

 

My friend has two big properties now and luckily he now mainly rents rooms to friends and people he knows,but before he was having trouble with tenants. It's not an easy ride at all. He especially learned that when trying to get that second mortgage.  

 

Me and the missus are looking to buy a second bigger property next year in Woolwich and rent out our current place and I at least know some of the pitfalls.

[Afroman]

Truss you dont want that tenant from hell...

 

could leave you worse off..

[local]

ffs

 

stop picking holes in my thesis

 

more pickin holes in the fact that toney mentioned mortgages when u was talkin about having millions n buying property

 

id be buying holiday homes in places i wana frequent n renting them out a week to posh cunts

 

best easiest investment is gona be student houses tho

 

70k-90k houses that u can charge out the arse for n leave them living in a raggety shithole

 

bein a standard landlord would be stress for shitty slow returns, if u got millions it'd be better just not to spend like a twat

[Guest 90210]

but the general consensus is that tenants pay because, well, they want 'young professionals'

 

there may be few issues 'this needs fixing this, that needs fixing' thats about it

 

if you get in young professionals and you ask what job they have etc and get references shouldnt be an issue

 

 

/

 

 

is there an insurance for tenants if they fall sick/unemployed?

[Badman]

 

 

 

If I had money like these guys

I would buy as many properties as poss. Rent them out. Simple.

Never go broke.

Someone told me lethal has a few props. Smart man

 

Its not about being broke or not. Its more about being organised and having discipline

 

You have to appease the taxman. i.e. claiming back VAT and giving HMRC their piece of the pie and save aside a part of all of your earnings to pay corporation tax on a yearly basis etc

isnt that what an accountant is for

 

Accountant can only do so much

 

Ultimately its you that pay the bills to the taxman not them

 

There is still a huge degree of responsibility placed on yourself

 

Like for example you pay VAT quarterly and CT yearly. Between these periods the taxman doesn't tell you what to do with your money they just tell you to 'put some aside' untill your returns are due then give you the figure. They then assume you have that amount put aside lol

 

I know this from personal experience 

are you contracting?

 

I have done, not at the moment. My brother uses my limited company at the moment to contract so I still manage the accounts

 

c/s accountants taking P

 

mine charges £105 monthly 

[Guest28]

Being declared bankrupt doesn't always mean you're broke

i swear this is a smart way of avoiding heavy tax repayments 

[Sole]

If I had money like these guys

I would buy as many properties as poss. Rent them out. Simple.

Never go broke.

Someone told me lethal has a few props. Smart man

lol u don't own property do u fam

no i dont and neither do u

so help me with what your point is

calm down point is just that u think its some fool proof plan which shows u don't own property

I have a 2 bedroom in woodford for the record.

[FinalBawse]

Truss you dont want that tenant from hell...

 

could leave you worse off..

 

Yeah my dad had some ordeal with that shit.

He just lets the estate agents do the ting now, says the cut they take is a bump but I remember how he was stressin.

[Guest 90210]

lets say on average your rent is 900 a month

 

on a generalised scale how much would an estate agent take?

[RaiKkoNen]

 

 

If I had money like these guys

I would buy as many properties as poss. Rent them out. Simple.

Never go broke.

Someone told me lethal has a few props. Smart man

 

Its not about being broke or not. Its more about being organised and having discipline

 

You have to appease the taxman. i.e. claiming back VAT and giving HMRC their piece of the pie and save aside a part of all of your earnings to pay corporation tax on a yearly basis etc

isnt that what an accountant is for

 

Accountant can only do so much

 

Ultimately its you that pay the bills to the taxman not them

 

There is still a huge degree of responsibility placed on yourself

 

Like for example you pay VAT quarterly and CT yearly. Between these periods the taxman doesn't tell you what to do with your money they just tell you to 'put some aside' untill your returns are due then give you the figure. They then assume you have that amount put aside lol

 

I know this from personal experience 

 

Since when do individuals pay corporation tax bro?

 

You pay income tax on all your general earnings, interest income and dividend income.

 

Also HMRC won't tell you how much tax is due, unless they make a determination for that amount, and that will only happen if you fail to file a return, in which case they'll make an estimate for the amount.

 

Most of the taxes paid to HMRC are self assessed, only people who aren't self assessing are employees as tax is deducted at source.

 

Stop misinforming people ffs.

[TF S4DK]

Like others have said being a landlord is GREAT when you have GOOD tenants and LOL at looking for "young professionals" being GOOD tenants.

[TF S4DK]

lets say on average your rent is 900 a month

 

on a generalised scale how much would an estate agent take?

 

With management probably 10%

 

Without just their initial fees.

[Guest 90210]

rar so an estate agent could take about 100-150 and thats just 1 tenant in 1 room in 1 house

 

naa estate agents make ps

[Guest TRAGEDY]

No shiiite g

[Guest 90210]

its mad innit bruv

[Woodpecker]

lol ffs

[Badman]

 

 

 

If I had money like these guys

I would buy as many properties as poss. Rent them out. Simple.

Never go broke.

Someone told me lethal has a few props. Smart man

 

Its not about being broke or not. Its more about being organised and having discipline

 

You have to appease the taxman. i.e. claiming back VAT and giving HMRC their piece of the pie and save aside a part of all of your earnings to pay corporation tax on a yearly basis etc

isnt that what an accountant is for

 

Accountant can only do so much

 

Ultimately its you that pay the bills to the taxman not them

 

There is still a huge degree of responsibility placed on yourself

 

Like for example you pay VAT quarterly and CT yearly. Between these periods the taxman doesn't tell you what to do with your money they just tell you to 'put some aside' untill your returns are due then give you the figure. They then assume you have that amount put aside lol

 

I know this from personal experience 

 

Since when do individuals pay corporation tax bro?

 

You pay income tax on all your general earnings, interest income and dividend income.

 

Also HMRC won't tell you how much tax is due, unless they make a determination for that amount, and that will only happen if you fail to file a return, in which case they'll make an estimate for the amount.

 

Most of the taxes paid to HMRC are self assessed, only people who aren't self assessing are employees as tax is deducted at source.

 

Stop misinforming people ffs.

 

I can only speak for myself as a contractor using a limited company, not a sole trader as I know they do things differently 

 

If you have a limited company its more tax efficient to take money out as dividends and pay corporation tax on that as apposed to taking out a salary and paying income tax on it

 

Thats what I do as this is what my accountant advised me to do. This is also what most other contractors that have their own limited companies do.

 

 

I also never said HMRC tells you how much tax is due, your accountant does obviously but if HMRC thinks what you are paying is fishy they will request an audit and nobody wants that as its costly and if your accounts aint accurate your fucked.

 

Its also obviously bait if by the time your taxes are due you dont pay in anything which I assume Dappy and all the other bankruptees are guilty of doing in which case they get flagged 

 

relax gee, I didn't mean to get you mad

[Niall Ferguson]

the pain

 

the gas