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Its been a funny old year ? Why ??? Because we can all see in front of our own eyes What's Going to Happen But No one else apart from us seem Blind to the major changes that face Landlords in the coming year
The first payment of S24 tax is due on the 31 Jan 19 and then the Tax Bill will get higher and higher
Stamp duty is starting to have a great impact and the figs of Landlords buying are dropping and this has to spread to the rest of the UK
London is feeling the effect of the changes too
My own opinion is the PRS will become a a much harder place to make a Bob or Two
My own plans are to chip away at the S24 issue and become more tax efficient claiming every legal expense I can
I will continue to hold my Leveraged BTL property and where I can add value and increase rents when voids come along
I will be consulting my Mortgage Broker to try and get a better deal from lenders as fixed rate Mortgages come to the end
I see my own Job as a Landlord as now a property manager not as a property investor along with this goes my Company and my Pension Planning
I see very low growth in capital values for a long time to come So I see sense in deleverage and in general battening down the hatches
The EU situation is a new one for us all What will the out come be in say around 5 years
This is going to be a very interesting period in the PRS
And to be very honest I think we have all looked in a crystal balls but its cloudy to say the least
If there was to be a Large Crash I think there could be rich pickings for the professional Landlord who has a lot of cash in there pockets
Deposits and costs would be high But If you do have the cash Sit the next period out and wait to see how this unfolds you may get the bargains you are looking for and of course buying at the right price will give you a great yield
after every crash I doubled my Business and if we have a crash I may well double my business again
But of course when we have a crash we will have casualties who purchased the Building to start with
But who will the Casualties' be The Home Owner or The Landlords
Our FTB have purchased with Help to Buy I feel this group of homes could be the biggest fallers in a market if there is a crash
My own opinion is HTB has given false hope and artificial house prices ie Over Valued from the start
The HTB sector will have a young generation of purchases who have never witnessed Interest rises over 5%
To me HTB looks like a Rice Pudding it has a thin to crust but underneath there is nothing more then a very watery foundation
Unless the Govt gives some stimulation to the Housing market the Next crash could be the worsted any of us has seen in the past 40 years And it could take a very long time to recover.
Learn Change and Adapt ?????
All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.
An excellent summary of period ahead!
Nah, it's not that bad DL.
True, it's not THAT bad...it's WORSE than that...
It's all relative.
You could be grafting 50 hours per week in a factory/supermarket/call centre/McDonalds and struggling to make rent payments on a shared house.
The challenges faced by landlords pale into comparison with those faced by the everyday British working man.
Landlords can run sizeable portfolios on just a few hours work each week and don't have to get up at 5AM to do so.
A bit of extra tax, a bit of extra legislation, less capital growth than we've enjoyed previously, these aren't that challenging in the scheme of things. You lot need to stop moaning and smell the roses. I'd rather be a landlord than not be a landlord.
" Landlords can run sizeable portfolios on just a few hours work each week and don't have to get up at 5AM to do so. "I hear you!
I've been putting in some 3 hour days starting around 1pm or so for the last 3x days and got 1x more tomorrow - that's 4 days on the trot! Think I'll put in some annual leave and take the next few days off after that though. I just asked the boss (he's a bit of a lazy so-and-so a.k.a. me) and he said that's ok ;->
Steady Adam, don't over do it we don't want you to burn out !
I understand your point 100%
but the govt is quite happy to tax us more regulate us more as each year passes
the PRS has had it too good for too long
now it’s pay back time
and that’s my point
is it worth the effort now
maybe if you are in McDonald’s starting at 5am
but if you have wealth it is far easier to make a bob or two elsewhere going forward
Definitely make your money elsewhere, I agree with you there and have said that long before S24 was dreamt up!
I never bought into the high leverage model.
However BTL is probably the safest place to STORE some of your wealth and as I said before, it's not difficult to manage.
I go through peaks and troughs I have three voids at present
one is flood damaged and it has been a total rebuild with insurance company
I have been dealing with a death of a tenant and the flat is in need of renovation
and I have one ready to go on the market in jan after a re decorate
it all takes time and effort
BTL is not an armchair investment
it’s my job running a large bussiness
personaly I love every min
but you have to factor in stress and worry which comes with BTL
I know when I invest in ISA or pensions or stocks and shares I have no work they are an armchair investment
my days of leverage BTL are over now
The issues you mentioned above, how many hours did it take you to resolve?