Rez 4,961 Posted April 27, 2016 Author Report Share Posted April 27, 2016 Not at all Rez. I simply bought rundown property for cash back in the 90`s and tidied them up as and when I earned a wage. A long hard path to walk, and they need constant maintenance. A good friend of my school years saw me for the first time in years about 10 years ago. Mick was, and still is, " thicker than concrete", anyway Mick got into the "buy to let" scheme about 25 years ago and now owns 28 properties,- " yes he owns them". You have " NO CHANCE" of doing this again as the government has moved the goalposts, as everyone knows, with buy to let. By the way Rez,- what do you do as a business ? atb, " Tommy Walsh " Graphic designer Mark. www.unitedagency.co.uk < That kind of stuff. Thanks for the replies all of you so far. I do understand I must looking into it myself obviously, its something Ive got to see my accountant about. Everything's just so complicated nowadays, no one really knows whats going on or is gonna happen with their moneys and such and it really is a gamble. Unless your in the properties side of things. As long as that dont go bang again. 1 Quote Link to post
devon flighter 421 Posted April 27, 2016 Report Share Posted April 27, 2016 Private pensions need a final pot of around £250,000 in them to realise around £250 per week at 65 " ish" I was told ? Being a builder I got into renting properties out so those are my pensions and they will never die with me like a pension will. I did save a pot of money for a pension but after all the stock markets and governments, I think growth has not been as good as expected over the years on many pensions. A " Boyyyyy" of 30 yrs of age needs £ 8,000/ year "SPARE" put away for a decent wedge then for 65 is it ? atb. Thank you mark. Obviously, I don't have the fund to buy two houses... If only I could build the buggers. neither did we ! "as hard cash " or a large income "been self employed nearly all my life and generally struggled ! YOU MAY NEED to look a bit further afield to find something you can afford but there will be properties out there for you "just think slightly outside the box!" you may be thinking about paying a regular monthly amount into a pension rather than a lump sum ? bit like a mortgage really !!!!!!!!!!! , AS JD SAID there could well be no state pension available when we get there ! think on ! ,take as much advice as you can get ! ,dont rush into anything!, remember MOST giving you advice will be getting an earner out of it ! and good luck AT LEAST YOU ARE RESPONSIBLE ENOUGH to be doing something for your future now ! Quote Link to post
devon flighter 421 Posted April 27, 2016 Report Share Posted April 27, 2016 I do understand I must looking into it myself obviously, its something Ive got to see my accountant about. Everything's just so complicated nowadays, no one really knows whats going on or is gonna happen with their moneys and such and it really is a gamble. Unless your in the properties side of things. As long as that dont go bang again. no one know the future thats the problem ,yes its a gamble ,and yes property could go bang again BUT SO COULD PENSION POTS again ! at least prices are generally still low now! Quote Link to post
Durham John 693 Posted April 27, 2016 Report Share Posted April 27, 2016 If, the house prices do go tits up again it won't affect you much Rez All you're doing is buying cheap to rent out so it don't matter a jot if the house is worth £50,000 or £100,000 its still £500 a month rent coming in. 1 Quote Link to post
cragman 2,769 Posted April 27, 2016 Report Share Posted April 27, 2016 Company pension and I'm in a share save too. I'm into the Santander 321 account which pays generous amounts of interest every month. Quote Link to post
Plucky1 1,119 Posted April 29, 2016 Report Share Posted April 29, 2016 If at all possible consider a private pension asap, and as young as possible. Advise/comment from the likes of THL can be useful, but realistically, discuss this with a professional, preferably 2 or 3 before embarking on this route! My neighbour is a financial consultant and he has no pension,he and 5 other consultants are buying a large building in Liverpool,this will be their pension, even government bonds cannot give you that return on your investment, WM What return would that be? He is speculating, many will tell you he is in for a fall, you make your choices! Hindsight and a Crystal ball are very useful! Any large property in a large city centre is a good investment, since the capital of culture award Liverpool has seen massive increases on their original investments, my other mate Mark bought a building in 2002 that was a large crumbling wreck not far from what is now Liverpool1,just up from James st railway station,he only used the ground floor for his printing business,he paid 500,000pound for it with a mortgage,he sold it 3 yrs later to make a hotel for the L1 capital of culture for 8million,guess what he does now,Yes!!! he buys run down property and rents it out when he's not playing golf, my other mate Dave bought an old bus depot in Wallasey,Wirral that was being vandalised for 200,000pounds and sold it to safeway for a supermarket for 6million pounds a year later and they built him a new garage for his coach company, he sold his coach company 2 years ago for 12million and retired as a single man to Thailand, I have bought property in hr Bebington which is the most desirable place to live in Britain according to the paper's, it is also where I live, I grew up on an ordinary council estate in a very rough area and I am still the same lad at 58yrs old, my only regret is not investing in property earlier,the places I was offered for 10 and 15 thousand in the 70's,80's are fetching 3 and 400,000 pounds, a crystal ball is not required just a bit of knowledge of your local area or buy fields and rent out to horsey types, you have to speculate to accumulate to get on in life,every payment paid to you in rent is buying you the property, WM Quote Link to post
Deker 3,478 Posted April 29, 2016 Report Share Posted April 29, 2016 (edited) If at all possible consider a private pension asap, and as young as possible. Advise/comment from the likes of THL can be useful, but realistically, discuss this with a professional, preferably 2 or 3 before embarking on this route! My neighbour is a financial consultant and he has no pension,he and 5 other consultants are buying a large building in Liverpool,this will be their pension, even government bonds cannot give you that return on your investment, WM What return would that be? He is speculating, many will tell you he is in for a fall, you make your choices! Hindsight and a Crystal ball are very useful! Any large property in a large city centre is a good investment, since the capital of culture award Liverpool has seen massive increases on their original investments, my other mate Mark bought a building in 2002 that was a large crumbling wreck not far from what is now Liverpool1,just up from James st railway station,he only used the ground floor for his printing business,he paid 500,000pound for it with a mortgage,he sold it 3 yrs later to make a hotel for the L1 capital of culture for 8million,guess what he does now,Yes!!! he buys run down property and rents it out when he's not playing golf, my other mate Dave bought an old bus depot in Wallasey,Wirral that was being vandalised for 200,000pounds and sold it to safeway for a supermarket for 6million pounds a year later and they built him a new garage for his coach company, he sold his coach company 2 years ago for 12million and retired as a single man to Thailand, I have bought property in hr Bebington which is the most desirable place to live in Britain according to the paper's, it is also where I live, I grew up on an ordinary council estate in a very rough area and I am still the same lad at 58yrs old, my only regret is not investing in property earlier,the places I was offered for 10 and 15 thousand in the 70's,80's are fetching 3 and 400,000 pounds, a crystal ball is not required just a bit of knowledge of your local area or buy fields and rent out to horsey types, you have to speculate to accumulate to get on in life,every payment paid to you in rent is buying you the property, WM Not many will give you an argument that property has historically been a decent Long Term investment, but prices can only get so high in any economy, simple as. Personally I think property is still ok, but the Government and the economy are making it harder, it has been a decent way to make money, if you got it right, but plenty have also lost historically, and it could easily happen again. A crystal ball and or Hindsight will be very useful! http://www.ibtimes.co.uk/uk-house-prices-slowdown-what-housing-market-experts-think-1474705 http://www.costar.com/News/Article/Commercial-Property-Sales-Prices-Continue-Slowdown-as-Investors-Pull-Back/181068 Edited April 29, 2016 by Deker Quote Link to post
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