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I’m really tempted to buy some property again this year.
Section 24 put a stop to it - and all the talk on here was worrying.
But now - im thinking - buy in ltd company, and worry about s24 if/when it is applied to ltd.
If it never comes - great.
if it does - just be happy with the X Years earning rent - and sell the property. Hopefully making some profit, but even same price minus costs - it’s still rent that’s been made.What you think?
I will be buying again also, I'm not letting future problems cloud my progress.
There is more than money to the equation - freedom in time.
Because of BTL income over past 7 years, I would have seen my children half as much during the bonding years. And currently allows be time to wait till I diversify into other business ideas.
On Hiatus till further notice........
Don't let anybody tell you what you can or can't achieve. Every problem has a solution , and somebody else's solution may not fit your circumstances.
100% agree! Well said!
LETS MAKE HOMES by treating landlords as partners, tenants as customers & every property as our own."
I think we are safe until Labour win the next election
I thank god my Pensions start paying me an income and I will not have to rely on BTL income which will be taxed more and more
Its not over for more taxation that's for sure
Learn Change and Adapt ?????
I think we've got the point now...
do you think I am wrong about the future labour govt
If I had to do a PESTEL analysis every time I bought a property I'd be sitting with zilch. The truth is, no one knows anything - not even you, my learned friend. Who foresaw Trump, Brexit, Corbyn, Scottish Referendum, S24, Bitcoin, and now Oprah for President????
Not me. Not you. Not even the people who are supposed to know these things.
I tell you what I do know....
Whatever comes my way, I'll cope by staying flexible, keeping my antennae up, not putting too much stock in 'experts', remembering cash flow is king, building reserves, reducing leverage and keeping absolutely focused on what I'm trying to do for me and my family.
Everything else is naval gazing.
Ok so we are looking at our belly buttons
lets look at whats happening fact historic
do the Govt want you and I to buy Property to rent NO?
what has the govt done to stop this
Raise stamp duty ? Fact
Do the govt want us to Borrow No?
we have PRA regulation
Do the Govt want to Tax us More Yes
Now we have S24
Do the govt want to tax us more when we sell a Property Yes ?
investment property I think is taxed higher then any other asset with CGT
Will labour win the next election Yes It will
which ever govt comes to power even tory we will get Rent Control
95% of what I have outlined is fact I am not looking at my belly button ???????
You can't drive a car by looking in the rear view mirror all the time
So, at the risk of pulling a muscle, what would you say are the opportunities (apart from Build to Rent) for the future?
Dear property tribers and contributers.
I thank you for your guidance and knowledge and time you have provided to this valuable resource.
Sadly I have to go Hiatus on the forum. Will still be lurking but infrequently.
Time to get my own house in order ( selfish but neccesarry ).
I have enjoyed the interaction and exchanges no matter if I agree or disagree.
Just some helpful advice for others.
Nothing wrong with taking that view
Just be aware of the costs in pulling out income from a corporate letting.
It seems that you need to leave income within the corporate letting for maximum effectiveness.
That may not be to your liking.
But let us say in 5 years time Labour hits corporate LL the same as S24 LL you should be able to sell up with a profit
Mindful of the fact that lots of S24 LL will be selling up as the full effects of S24 hit.
Personally if I could I wouldnt be buying now.
Wait for S24 to hit